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; : & : s } a MARINE REVIEW. 9 Record of Speed and Big Cargoes. [Masters or owners are invited to report improvements on this list. } Tron ore: Lake Michigan--Maryland, Inter-Ocean Transportation Com- pany of Milwaukee, 3,663 gross, or 4,103 net tons, Escanaba to South Chicago, draft 17 feet 4 inches; Western Reserve, Peter Minch of Cleveland, 3,314 gross, or 3,717 net tons, Escanaba to Ashtabula. Grain: E.C. Pope, Eddy Bros. of Bay City, 125,730 bushels of corn, Chicago to Buffalo, draft 14 feet 8 inches; Western Reserve, Peter Minch of Cleveland, 112,431 bushels of wheat, Chicago to Buffalo; W. H. Gilcher,J. C. Gilchrist of Cleveland, 114,982 bushels of corn, Chicago to Buffalo. Speed: Owego, Union Line of Buffalo, Buffalo to Chicago, 889 miles, 54 hours and 16 minutes, 16.4 miles an hour; Saranac, Lehigh Valley Line of Buffalo, Buffalo to Lime-Kilns, 240 miles, 15 hours and 10 minutes, 16 miles an hour. Iron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. 104 Superior Si. Cleveland, O. Stocks. Par Value. Bid. Asked. Cleveland--Cliffs Iron Company........... +. $100 00 Pas anipers $ 70 00 Sirarmplom LO COMPANY -<-c-ts-te-rcupeceres es DRO ge salen yi Rcieaee eo, weweeties Chandler Iron Compan y........e.sseeceeeeeeees 250 00r / 43, 00 45 00 Jackson Iron Company..........sceseeoeseeoeees DIG OOM ar a heim ss 100 0O Lake Superior Iron Company................ 25 00 43 00 45 00 Minnesota Iron Company............0..ss-..00 100 00 73, 50 77 00 Pepi beie co yaike, Anceline Irom Co... | 25 00. =. we... 140 00 Republic [ron Company......-..-.esc0en- wes oe 25 OO, Oe seseun re 15 00 PSMA) eee ese Gew ares saluckiol pam Aacae oheease or 25 00 as tah eee ese Section) Thirty-three....s....50-02-<csse-oseore eee DR NCR es ee are 7 50 OMEN LOLs nos lose onus oa eect ceee se Tene e os sre 25 00 2 00 2 50 MOTE B elitedesesnae.ctscuhhs-zcnwere eats siete 25 00 2E25 4 uy 52150 PAD OLE es cei seesmcnucesntas eater ph eiat hin tage oun es 25 00 B25 waseee eee Stockholders of the Lake Superior Iron Company have just been furnished with copies of the annual report of the company for the year ending Aypil <30, 1892. The gross receipts for the year, exclusive of sales of real estate, aggregated $1,352,415.14, and the total expenses $1,083,581.70. The net profits, after crediting the depreciation account with $59,427.94, to offset re- duction in valuation of two of the company's steamers, are placed at $287,723.90. It will be seen that this does not repre- _ sent the difference between receipts and expenses, but it may be explained by the system of book keeping. The profits are, how- ever, not encouraging. They represent but about $4 a share on the total of last year's shares of stock, and although $6 a share was paid in dividends, $2 of it was from earnings of previous years. A balance sheet of April 30, 1892, makes the following showing: Real estate and mining property, $1,285,527.87; steamships (four), $580,000; steamship building account (two steamers), $200,178.26; iron ore, $587,797.37; agents' inventory, $48,123.68; notes and loans receiveable, $144,934.27; accounts receiveable, $15,193.99; cash, $184,002.66; suspended debts, $131.22; Mesnard Iron Company stock, $100; Atlantic Iron Company stock, $roo; rents earned, $200; interest balance favor of company, $1,918.27; office furniture, $300; steamship operat- ing (new account), $8,081.38; total, $3,056,588.97. Notes and accounts payable, including taxes, pay roll, mine debt, etc., $92,513.95; advance payments for ores undelivered, $182,854.28; capital stock, $1,800,000; mew stock subscriptions, $298,825; reserve guaranty, $253,326.13; depreciation, $416,940.83; profit and loss, $12,128.78; total, $3,056,588 97. There was, of course, no truth in the story sent out from Duluth to the effect that the big mines of the Wisconsin Central syndicate, Gogebic range, are to be shut down. Cleveland rep- resentatives of the syndicate pronounce the statement entirely false. 'he most ridiculous part of the story was the claim that the mines were shutting down on account of the labor difficulties at Homestead. 'he Carnegie furnaces are being worked to full capacity, notwithstanding the mill trouble, and ore dealers who have contracts for these furnaces can not secure cars enough to foward the amount of ore required. One ore shipping firm in Cleveland is sending ore to the Carnegie furnaces at the rate of a cargo per day. Shipments of iron ore from Two Harbors up to and includ- ing Wednesday, Aug. 3, aggregated 577,004 gross tons, of which 330, 350 tons were from the Chandler, 244,973 tons from the Min- nesota and 1,681 tons from the Pioneer mine. On the same date shipments from Ashland aggregated 1,132,914 gross tons, divided as follows: Ashland 98,776 tons, Aurora 166,173, Col- by No. 2 29,988, Rand, 9,429, Tilden 139,096, 'Taylor 9,447, . Globe-Ashland 1,851, Iron Belt 73,553, Montreal, north vein 19,108, Palms 30,565, Section 33, south vein 926, Section 33, north vein 2,259, Anvil 1,696, Brotherton 55,995, Bourne 10,- 574, Comet 14,686, Carey 13,102, East Norrie 110,199, Kureka 2,057, Newport 53,150, Norrie 216,288, Pabst 23,739, Odanah 1,286, Sunday Lake 33,849, Windsor 13,240, Imperial 2,446. It is very probable that the big Norrie mine will again ship I,000,000 tons of ore this season. 'The Norrie has already shipped 350,000 tons from Ashland, and if the Escanaba shipments were added it would probably be found that about half a million tons had been moved in all. This is great work for a single mine. Leading stockholders in the Oliver Jron and Steel Company of Pittsburgh are reported to have made another lease of Mesaba mineral land. 'This time it is the property of the Mesaba Moun- tain Iron Company, and the royalty is said to be 65 cents a ton with $75,000 of advance royalty paid down. Officers of the new Duluth, Mesaba & Northern Railway are still claiming that they will ship ote this fall. About 14 miles of track has been laid and it is claimed that the iron is all on the ground. y An output of 600,000 tons is now predicted for the Chandler this season. About 125 cars a day are being loaded from stock piles and the mine output is about 100 cars daily. © Grain at Chicago and Duluth. . Stocks of grain at Chicago and Duluth on Monday, the Sth inst. were: Chicago. Duluth. Wheat, bu. Corn, bu. All wheat, bu. im stoner. erecicccscneee hh ctor bea 4,387,565 3,809,340 2,849 025 Decrease last week.........2...0cecesee cesecescesees QO DITO Saal eect ae Increase last week........... eee AAD QOD cieokcobecees 45,502 Increase over same time last year 1,487,292 2,710,053 In addition to the above there is 2,052,202 bushels of oats, 108,829 bushels of rye and 23,631 bushels of barley in store at Chicago. . The Cleveland Regatta. The open regatta of the Cleveland yacht club will occur Aug. 16 and i7. Following are the prizes: Class A, 50 feet and over, $60 and $30; Class B, 4o feet and under 50, $50 and $25; Class C, 32 feet and under 4o, $40 and $20; Class D, 25 feet and under 32, $30 and $15; Class EH, under 25 feet, $20 and $10. A champion flag will also be given the winning yacht in each class. A trophy will also be given for the winner of the naptha launch race. 'he course will be an equilateral triangle 6 miles on each side. 'The first leg will run due N. E. from the start, which will be between two stake boats set just outside the eastern extremity of the new breakwater; second leg W. by N. Yy%N.; thirdleg S. by KE. 4% E. Classes D and E willrun to the N. E. stake and return, making a 12-mile course. Louis Sears, secretary, No. 9 Literary street, Cleveland, will furnish all particulars. A Californian has completed drawings ofa land ship, the purpose of which is to explore African wilds. It is made of aluminum. Plates below water line are an inch thick and above that 1-16 of aninch. 'The propelling and pulling power con- sists of two 24 horse power engines attached to a shaft extend- ing from bow and stern. A chain gear operates the wheels used in traveling by land, and they are arranged to go over logs and rocks without difficulty. An 800-foot cable on a revolving drum can be brought into play in ascending a mountain. 'The ship can be run into the water and navigated without removing the wheels. When a supply of fuel is needed the propeller is taken off and a circular saw put on. By this means a large amount of wood is cut in a few moments. _This saw can also be used in clearing jungles through which the ship may be called upon to navigate. The inventor has everything necessary to form a company except capital. . .