Great Lakes Art Database

Marine Review (Cleveland, OH), 30 Jun 1892, p. 5

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trated Buffalo Express, copy- MARINE Wile VW. CLEVELAND, OHIO, THURSDAY, JUNE 30, 1802. REVIEW. Nois27. The Late Emmons Blaine. Emmons Blaine, who died suddenly in Chicago June 18, and who had only recently been elected to the presidency of the Chicago Ship Building Company, was the eldest living son of James G. Blaine, ex-secretary of state, though in the lifetime of his brother, Walker, people frequently thought that Emmons was the elder because of his prematurely gray hair, which be- gan to be remarked when he was hardly more than 23 years old. He was born in August, 1857. He studied at Harvard college, being graduated in 1878, and afterward at the law school of Harvard university, taking a two years' course there in 1879 and 1880. But even in boy- hood he had shown a strong | interest in railroads and after a thorough training on differ- ent lines, was at the time of his death vice-president of the Baltimore & Ohio South- western Railroad. He was in charge of the western in- terests of this company in ineaco.. = Lhe portrait of Mr. Blaine is from the Illus- righted 1892 by George E. Mathews & Co. Lake Freight Matters. In conditions surrounding lake freights during the past two months, no feature of the market is presented more for- cibly than the influence of iron ore companies controlling big lines of vessels. Not only have these companies reduced by more than 75 per cent. in some cases the amount of tonnage required in their business, and thereby put an end to extreme freight rates such as have been paid in the past, but they have also placed a leverage on the mar- ket that has shown itself on several occasions of late. large owners of vessels themselves they have not been dis- posed to force rates down in times of temporary weakness, and on the other hand, have been in a position to resist any tenden- cy toward extreme advances. T'his is one reason why the fair movement of grain that has held out since the opening of navi- gation has had no marked effect on ore freights, although ship- ments up to the present time will show a very fair aggregate in comparison with last season. If the market for iron ore was such as to afford a fair profit on sales, the condition of lake freights might be different, but all things considered the vessel owner has reason to feel thankful that fairly profitable rates have held out to this time. A. report that some non-Bessemer ore had been sold a few days ago at $2.75 a ton caused some Being EMMONS BLAINE. talk during the past week, but if the details were known it would probably be found that there was something radically wrong init. The ore was said to be guaranteed 56 per cent. iron, but there is little doubt that, notwithstanding the de- pressed condition of the market, such ore would sell at better than $3 if it was of straight quality otherwise. Wheat and corn in store at Chicago foots up about 7,000,000 more bushels than at this time a year ago and Duluth shippers are again taking some tonnage for wheat to Buffalo, so that in- dications are, if any, more favorable to the vessel owner than they have been for two weeks past. There are no signs, how- ever, of any important change in the market either way. At this writing ore freights are strong at 70 cents from Esca- naba, 95 cents from Marquette and $1.15 from Ashland and Two Harbors to Ohio ports. Coal is also moving actively at the improved rates that have characterized the past month. Lake Michigan ship- pers have had only half a supply of coal tonnage during the past ten days. 'The col- lapse of the soft coal ship- pers' association will have little effect even upon the sales market, as lake coal has been largely sold in the northwest. Against Floating Elevators. The finance committee at a special meeting in Cleveland Monday adopted the follow- ing: "Resolved that the Lake Carriers' Association, repre- senting the vessels engaged in trading to and from the port of Buffalo, respectfully urges both the department of warand the municipal author- ities of the city of Buffalo to take prompt steps to cause the removal of the Cyclone eleva- tor to some point in the harbor where navigation and the dock interests of Buffalo will not be interfered with or obstruc- ted." The secretary was instructed to send copies of this reso- lution to the secretary of war, the mayor of Buffalo and the United States engineer in charge of Buffalo harbor work. Although Vice-President H. M. Hanna and Secretary Keep of the Lake Carriers' Association who went to Washington to assert the excellent qualifications of Col. William Ludlow and Commander O. F. Heyerman and ask that these officers be given a hearing on matters pertaining to their dismissal from the light- house service, were met with statements that seemed to make the case one of discipline in the conduct of treasury department affairs, it can be: said that the shipping interests of the lakes have not as yet given up attention to this matter.

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