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MARINE REVIEW, lron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. rog Superior St. Cleveland, O. Stocks. Par Value. Bid. Asked. Wleveland--Clitts Iron Company, :.cv.....215. $100 oo Gi. basting $ 75 00 Pamir ony Irom (Company ..cke.+cwiiveseivcen BSNOOUE yates aoe 60 00 Se Liar ete MGT: CGI eee ykas. ves: canes cee 25 00 42 00 45 00 ekson icon Compantysnceemeet en nite Dy OOwee Vlishied. ot 100 00 Lake Superior Iron Company...............4 25 00 44 00 47 00 MAME S Oba MnO Goran. s.sceerssovaceseesse MOONOOM ce Utne cts, 75 00 Pittsburgh & Lake Angeline Iron Co..... 25 00 2 eeeeseves 147 50 REV UNIS ALON | COMPANY ceicvaisxccnvesseseabe sos BE O04 fs hepenenta 18 50 PASAT ee selfax Hoy gece sages grep seer reine DOOM Pr yaaa: aa), Sseeh eines WERWlOt I lttty-threes....0..<c6s PNREG RCo daet ee DELO ee ee See 7 50 FSR OVUM ETUC rae. «woeencie tas. ccinakieas vectewavecvucsinc es 25 00 2 00 2 50 GES HIE aS lremre tee ret ia vic«w calenhastecharacusessoonees nti: 25 00 DRNOR eg ler decnies Within the past few weeks several representatives of com- panies engaged in the ore sales business in Cleveland have visited the Mesaba range and it seems to be the general opinion that some ore will be shipped this season from Kimberly's Bi- wabic properties if the railway work can be pushed to comple- tion. It is admitted that the Kimberly workings show some ore very high in iron and low in phosphorus. Little reliance can be placed in estimates regarding the amount of Bessemer at any of the promising properties, however, as the new range may prove that there are some lessons to be gone over again in the Lake Superior mining business. James Sheridan is at the head of a syndicate that has leased eighty acres from the Ohio company. He agrees to mine 150,000 tons the first year ata royalty of 65 cents. 'The royalty paid by the Kimberly party for the Bi- wabic is admitted to be above 50 cents. N. D. Moore of Moore- Benjamin-Gogebic fame has applied to the Cincinnati company for a lease of three forties, agreeing to mine a minimum of 300,- ooo tons yearly, to pay a sliding scale royalty based on 56 cents a ton with ore selling at $3.50 a ton, and increasing 5 cents with every advance of 25 cents in the selling price of ore. 'There has been pending in one of the state courts of Wis- consin for some time past an action known as the Warner-Ben- jamin mining suit, which grew out of a sale of mining stock during the Gogebic craze. Trial was had before a jury and Judge Johnson in Milwaukee recently hada verdict granted to the plaintiff. If the ruling of the court in the case is sustained by the supreme court of the state, everyone who has offered for sale corporate stocks not fully paid up, or watered in any con- siderable degree, will be liable to refund the money to the pur- chaser. Shipments of iron ore from Two Harbors up to Wednesday, June 8, aggregated 185,620 gross tons, of which 105,532 tons was from the Chandler and 80,088 tons from the Minnesota mine. On the same date shipments from Ashland aggregated 367,827 tons, divided as follows: Ashland 41,242 tons, Aurora 65,569, Colby No. 2 12,662, Tilden 29,377, Iron! Belt 8,127, Montreal, North vein 4,041, Palms 10,620, Brotherton 15,619, Carey 7,803, Hast Norrie 35,307, Newport 13,234, Norrie 86,627, Pabst 18,556, Sunday Lake 16,108, Windsor 2,928. A suspension of operations now going into effect in some of the workings of the Penn Iron Company will reduce the output ot the company this season 25,000 to 30,000 tons. : A meeting of the stockholders of the Appleton Mining Com- pany is called for the 21st inst. at Norway, Mich. Death of John L. Schrader. John lL. Schrader, marine editot of the Buffalo Courier, who 'met with a violent death at that port on Tuesday evening by falling into the hold of the steamer Scranton, was well known and esteemed by owners and masters of vessels in all parts of the lakes as wellas in Buffalo. Few reporters on the daily papers around the lakes are given an opportunity, through sufh- cient time of service in marine work, to become well versed in matters pertaining to the business. Not so with John Schrader. He was forty-nine years of age and had been connected with the Courier for thirteen years, acting 1n the capacity of marine edi- tor for about ten years. Tall in stature, always active and good natured and of an amiable and upright disposition, he made friends wherever he went. He leaves a widow and two children in comfortable circumstances. Mr. Schrader was the Buffalo correspondent of the REVIEW. NS In General. Leon F. Almy was in Detroit recently superintending the placing of an Almy water tube boiler in the steam yacht Uarda. H. F. Sprague, marine artist, has recently completed a very fine marine scene of Duluth from the lake at night, the feature of which is Capt. B. B. Inman's tug Record picking up the schooner Annie M. Ash. Receipts of coal at Milwaukee for the month of May were 141,472 tons--87,873 tons of anthracite and 53,599 tons of bi- tuminous. Total receipts for the season to June 1, 198,356 tons, of which 102,718 tons are anthracite and 96,538 tons bitumin- ous. ; The steel steamer Mariposa to be launched at the yard of the Globe Iron Works Company, Cieveland, today (Thursday), is a duplicate of the Maritana, 350 feet long, launched at South Chicago a few days ago. 'The boats have been described in the REVIEW. R. A. Johnston, accountant for the Michigan Log Towing | Company at Bay City, Mich., has accepted a similar position -- with the St. Joseph and Lake Michigan 'Transportation Com- pany and Vandalia line steamers, with headquarters at St. Jo- seph, Mich. One of the largest cargoes carried on the lakes was taken out of Escanaba by the steamer Maryland of the Inter-Ocean fleet Tuesday. She took 3,069 gross tons of ore, nearly 3,400 net tons to South Chicago. This broke the big cargo record by over 100 tons. According to the regular monthly report of the American Manufacturer, Pittsburgh, the united weekly capacity of pig iron furnaces in the country was not so great on June r by 2,- 453 gross tons as was the capacity of those in blast on May tr. The decrease in manufacture of coke iron was 2,923 tons per week. The general adoption of incandescent lighting plants on lake steamers makes it necessary that marine engineers be in- formed on electric lighting, and the day may not be far off when it will be required in examinations. The simplest and most val- uable book on this subject is "Electric Lighting for Marine En- gineers. "It is written by Sydney F.Walker,electrical engineer, Severn road, Cardiff, and published by the Tower Publishing Company, 91 Minories, London. If you want a copy send $2 to the REVIEW, as we expect to order a number of copies. The release of the Colorado from Thunder bay island last week by Parker & Millen's tug Favorite, Capt. Martin Swain, is probably the most successful wrecking job of its kind ever ac- complished on the lakes if not in the world. 'The Colorado went on light, going full speed ina fog. The tug reached the boat Tuesday, and Thursday four "hutchucks" were on each side with jacks placed under each one and on top of timbers placed upright on the bottom of the lake. The jacks were screwed up and the boat pulled forward several times in this manner. At 1 o'clock Friday afternoon the Colorado was afloat. : Notices to Mariners. Notice is given of the following changes in buoyage in Poverty island passage: 'The black spar buoy on Seventeen foot shoal has been removed and a black second;class can buoy put in its place. The black and red spar buoy on Poverty island, Fifteen foot shoal has been removed. A red second-class nun buoy has been placed in 1g feet 8 inches of water, 1,420 yards E. % N. from the black Seventeen foot shoal buoy; Pov- erty island light house, S. E. by E. &% E., distance 236 miles; Gravelly island, S. W. #%S., distance 154 miles. A narrow rocky ledge with 23 feet over it extends for about 500 yards south by east from this buoy. There may be less water in spots over this ledge and caution is necessary in passing with deep laden vessels. The Saunders point buoy, Little Bay de Noquette, has been replaced. The monthly bulletin of the light-house board, date of June I, reprints the following notices regarding aids to navigation on the lakes: At South Manitou, Lake Michigan, fog signal re- paired and will be sounded as usual during thick or foggy weather; Faiport, Lake Erie, tower on east pier moved 117 feet to northward of former position and light now at a point 28 feet from outer end of east pier; fog signal at Grand Marais, Minn., north shore Lake Superior, disabled and can not be sounded.