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~ and Jones a cash bonus of $90,000 clear, MARINE REVIEW. 9 lron Mining. VALUE OF LEADING STOCKS, Quoted by Chas. H]. Potter & Co., No. 104 Superior St. Cleveland, O. Stocks. Par Value. i s Cleveland---Cliffs Iron Company............... $100 oo ae ; aa Champion Iron Company..................0008 Be oot eee 58 aes HANGS MTOM COMPANyY.......ccscccecvcecessce BOO mae a esr hc cee 46 oo PeeeSOM LOM COMPANy....../.csccecsscersseescs D5 OOm ee Seeds 5 75 00 Lake Superior Iron Company................. 25 00 40 00 AI 00 Mine SOLA ItOt COMPANY...........cecssecseeee 100 00 70 00 75 00 Pittsburgh & Lake Angeline Iron Co..... 205 OOF aah 145 00 Republic EON COMpany.........0...cccscove see 25 00 10 00 12 00 PVG MINCE eee Soctnohs Secs Soles s oe coe be lecciie cs DEROOs er aber re ake ae es : Beem Oem ett yah HTCC. cc. scoscccuccvcreossescvers BE OO. 4a arise sess: 5 00 HOU EtaCOissasntvccecsstscesccstcecclcncnel. cooeta 25 00 2 00 B25) Ne elitmeremer eres r Gk cas eke ce essa coeee csc dseediwck 25 00 2 00 2 50 PACINO Se Mere teteisiect ions b so ictoies ccs save cus escease eealee aes 25 00 Si DIh wee ieee eco James Sheridan, John T. Jones and J. B. Weimer, who leased a portion of the holdings of the Ohio Iron Company on the Mesaba range some months ago and organized the Ohio Mining Company, have transferred their lease to P. L. Kimber- ley & Co. of Sharon, Pa., in consideration of a bonus of $105,- ooo in cash. 'Their contract with the Ohio Iron Company con- tained provisions obligating them to mine a minimum of 150,000 tons of ore a year and pay a royalty of 65 cents a ton for all ore taken out. 'They were also obliged to pay $15,000 in advance royalty. Mr. Kimberley and his associates agree to fulfill the terms of the original contract and pay Messrs. Weimer, Sheridan Mr. Jones is interested in the new purchase of the lease. 'The terms of another lease on the new range, that of the Mesaba Mountain Iron Company, to Henry W. Oliver, are also made public through a copy filed with the county authorities for record. | According to this lease the sum of $75,000 is to be paid as advance royalty, 200,000 tons are to be taken out in 1893, and after Jan. 1, 1894, the minimum is to be 400,coo tons at aroyalty of 65 cents a ton. The ore is to be handled by the Duluth, Mesaba & Northern, and when this road is unable to handle 80,000 tons per month, the lessee is excused from paying the royalty on such amount as the company is unable to transport. Shipments of iron ore from Two Harbors up to and includ- 'ing Wednesday, Oct. 12, aggregated 1,022,112 gross tons, of which 581,912 tons were from the Chandler, 426,629 tons from the Minnesota, 2,525 tons from the Pioneer and 11,046 tons from the Zenith mine. Onthe same date shipments from Ashland aggregated 1,966,269 gross tons, divided among the different mines as follows: Ashland 177,179 tons, Aurora 275,926, Colby, Neen 4,061, Colby, No. 2, 51,850, Rand 17,700, Tilden 208,- 092, Iron Belt 144,741, Montreal, south vein, 3,383, Montreal, north vein, 31,233, Palms 63,381, Section 33, south vein 6,924, Section 33, north vein 3,133, Anvil 5,637, Brotherton 90,677, Comet 35,651, Carey 44,222, Newport 117,250, Imperial 5,803, Norrie 378,418, East Norrie 168,928, Odanah 4,373, Pabst 44,- 447, Hureka 8,317, Sunday Lake 43,332, Windsor 26,673, Jack Rot 25717; Congressman S. M. Stephenson is president of the reorgan- ized Lumbermen's Mining Company, now in charge of the flooded Ludington mine. Peter L. Kimberley, who is to un- water the Ludington in connection with similar work on the ad- joining Hamilton mine, which he controls, is vice-president of | the new Lumbermen's company. Work has begun on a pipe line to carry the water from the mines to the city sewers of Iron Mountain. Shipments from the Dunn mine, Menominee range, foot up about 120,000 tons to Oct. 1, and it is expected that the Shafer mine of the same district will have an ontput of about 80,000 tons for the season. Managers of the Chandler mine, which had shipped 581,912 - tons to Oct. 12, are now figuring on an output of 650,000 tons for the season. Stock piles are all cleared up. last season's _ total shipments from this mine were 373,177 tons. One of the whaleback vessels on the Atlantic, the Joseph L. Colby, a few days ago delivered at Philadelphia the first cargo of ore from the mines ofthe Sigua Iron Company in Cuba. Stockholders of the barge company are interested in these mines. 'The keel for the first barge to be built on the Pacific coast will be laid at Everett, Wash., this week. - y En oe" ' ' \ ' N FF 98 SEV rs, ex 4, aA @» Sp M. A. BRADLEY. President. James W. Millen, Detroit, Mich. John G. Keith, Chicago, Tl. Frank J. Firth, Evie, Pa. W.S. Brainard, Toledo, O. Thomas Wilson, Cleveland, O. K.P. Fitzgerald,Milwaukee, Wis. Peter F. Miller, Buffalo, N.Y. Alex. McDougall, Duluth,Minn. Charles H. Keep, Secretary, Buffalo, N.Y. Geo. P. McKay, Treasurer, Cleveland, O, Harvey D. Goulder, Counsel, Cleveland, O. VICK-PRESIDENTS: At a meeting of the finance committee of the association on Monday, Mr. Harvey D. Goulder, counsel, and Capt. George P. McKay, secretary, were instructed to cummunicate with the sec- retary of war, with a view to securing, if at all possible, the expenditure of a small portion of moneys already appropriated for St. Mary's river improvement of the channel in that portion of the river known as "Collision Bend," where the steamer Peck was sunk last season and where ntimerous costly accidents have since occurred. General Poe, who had been consulted previous to the meeting, says that the only money possibly available at present for this purpose would have to come from the special appropriation for the construction of the new lock, which also provides for "the improvement of the approaches thereto." The dangerous point where it is sought to have the channel widened by dredging is several miles below the canal, and this may prevent the application of any part of this appropriation to the proposed new work, but it is thought that the great need of something being done immediately toward preventing more collisions in this part of the river may move the department to extreme measures in providing relief. Capt. William Nicholson of the Peshtigo Lumber Company, Chicago, sent in a communication with reference to the red light of the fourth order on Pilot island. Hesays that it had been proposed by the inspector and engineer of the district to change this to a fifteen-second white flash light, "prior to the establish- ment of the Plum Island ranges,' but as no appropriation yet been made for these ranges, the promise seems very indefinite. The red light under certain atmospheric condititions can be seen only at a comparatively short distance. 'The secretary will com- municate with the light-house authorities in reference to this matter. 'The association had been informed that it was the intention of the navy department to relieve at the expiration of his detail, Commander Nicoll Ludlow, inspector of the ninth light-house | district, (Lake Michigan,) with headquarters at Clricago. Com- mander Ludlow is an excellent officer and is in full accord with the light-house board in all matters pertaining to his district. Extended editorial reference is made in this issue to the action of the association in this regard. The success attending the management of everything per- taining to the affairs of the reorganized association so far this season is a matter of gratification generally, and plans are now being made to bring into the organization during the coming winter every vessel of importance on the entire chain of lakes. An effort will be made to include all lumber carrying vessels and especially the large interests involved in the Chicago lumber trade. Stocks of Grain. The following table prepared from the Chicago Board of Trade report of the visible supply of grain on Saturday, the 15th inst., shows with comparisons stocks of wheat and corn in store at points of accumulation important to the lake traffic : WHEAT, BUSHELS. CORN, BUSHELS. Octet. 292) Oct. 8.9202 Oct eld, 02 Octane, 02. Chicago......... 8,932,000 8,301,000 5,445,000 4,900,000 ual t lapse creas 4,289,000 SOp an UU0 ate tereseacen ee aaa nee Milwaukee..... 1,430,000 1,277,000 11,000 9,000 Wetnoitaees cen 1,110,000 1,000,000 25,000 31,000 Toledo........+6 3,017,000 3,480,000 220,000 256,000 Buffalo.......... 2,174,000 2,060,000 590,000 438,000 New York...... 12,682,000 11,566,000 1,441,000 1,351,000 Baltimore ...... 2,004,000 1,865 ,000 172,000 58,000 Philadelphia... 1,700,000 1,707,000 268,000 271,000 IOSEOMesees eases 250,000 295,000 199 ,000 168,000 Montreal........ 324,000 505,000 19000; ae " This statement shows that at five lake shipping ports, Chicago, Duluth Milwaukee, Detroit and Toledo, the increase for the week is 1,617,000 bushels of wheat and 505,000 bushels of corn, while at Buffalo and the five principal exporting ports on the seaboard, New York, Baltimore, Philadelphia, Boston and Montreal, the increase in wheat is 1,136,000 bushels and in corn 403,000 bushels. _