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-Paid dividend Oct. 10, 1892, 13 per cent. on outstanding stock... MARINE REVIEW. © | | 7 lron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. 77. Potter & Co., No. 104 Superior St. Cleveland, O. Stocks. Par Value. Bid. Asked. Cleveland--Cliffs Iron Company.............. $100 00 $ 45 00 Pica Cham pron ron Comipane -.0 ort: apes 25 OO: ix see eeees 35 00 Chandlersdkon Compa yor. crccs esa eee 25 00 40 00 41 00 Jackson Lrom «Companys .teeccseesemes a. onee PIG (OlO Res = be Sen aaaap dat =" Spodusation Lake Superior Iron Conipany...............6 25 00 ZISE OO ye ten ier see Minnesota trot Company ayt<sccaessstee- 2 100 OO 67 00 69 00 Pittsburgh & Lake Angeline Iron Co... ~ 25 00° ~= wees 135 00 Repiblicilron Canna tiy se ecrts scr 25 00 10 00 Sivsavda ASAI soe caesceescatnacc Mee ease een eae DO ROO rae eae Sees vtec 9 00 Sections L hirty-thire Gee. seme. uke core one D5 POOs same tee ears 4 00 IBRO UNG GEOMer ents tere ene ee er eee coe DE OUrs ret cides ces aaeeouae ten TRON SB Clit asccss cass sese cca weeoe eo es eee e asics BiB OOK yee onder ces 2 00 SUE OR Aes see. oe nee svth ect soem ta ies ese 3 eee 25 ©O 8 00 9 00 At the annual meeting of the stockholders of the Cleveland- Cliffs Iron Company in Cleveland last week, the following board of directors was unanimously elected to serve the coming year: T. P. Handy, E. R. Perkins, Samuel Mather, Amos Townsend, A. A. Pope, J. H. McBride and Wm. G. Mather, Cleveland; J- H. Wade, New York, and Peter White, Marquette, Mich. The following general balance sheet, date of Nov, 30, 1892, has been submitted to stockholders : ASSETS. Cleveland-Cliffs Iron Company stock in treasury, par value 11,853 Shares siesta ee eee 51,185,800 00 Cleveland Iron Mining Company stock in treasury, cost value O95 DA GaSHANGS scosamasrscs scines sete to uc ecvgressineee ec secatee asic > catnas ame 1,996,480 00 Tron Cliffs Company stock in treasury, cost value 14,585 shares... 1,823,125 00 DLeamenrs WlOncerandac ate, COStavalUCs. ssc sere smc sswawatanes 222,196 91 Cash Onstnn dss etna: ars eeesiks ti nich iraclns ss ochaanivos «Sees ee Serco eas 722 03 INCCOUMBaRE CEVA Desa reteset ices na co Sane cause eC cae Eee TS 15,184 51 $5,242,958 45 LIABILITIES. Cannitaltstockeecd cere maces nines esse estes rene antiques cheer ewe £5,000,000 00 Bilis wary blieiistatedacnant tartan ne weet ee nem er eee ener naeeeee 47,600 00 EXCCCOTMMES =p) Aye Caer tract seantice nated + stirs aaa sckaroinatonm ea ocaartrereim eaten 17,132 08 Iconic er CCUM Olas LUG o tas. os sect -asadestssetes wove re ndieene ne ne 178,226 37 $9,242,958 45 Net earnings for year ending Nov. 30,1892 0c cccer ede ctees nares & 204,416 47 _ (Equals .05 35-100 per cent. on outstanding stock) Leaving a Balance of...:........- See eun aera neces 6 147,203 47 Add balance standing to credit of income account, Noy. 30, 1891 31,022 90 Total, income account or surplus, INOV 30518022 rere. . oe rates $178,226 37 Newspapers in the northwest are figuring on an output of 1,825,000 tons of ore from Two Harbors next season on account of shipments from the Canton, Cincinnati and Hale mines of the Mesabi, as well as an increased movement from the big Vermil- lion range properties. I'wo Harbors will probably increase its shipments next season, but as showing the absurdity of the esti- mate of 1,825,000 tons it is enough to note that of this total the Minnesota mines at 'ower are credited with 600,000 tons and the Chandler with 700,000 tons. F At the annual meeting of the Brotherton Iron Mining Com- pany in Milwaukee, the following board of directors was elected: Luther Sellwood, Duluth; M. J. Luther, Streator, Ill.; Arthur Pugh, Racine; J. Parke Channing, Iron Mountain; J. B. Stubbs, Chicago; Henry Niedecken, Edward Niedecken, Milwaukee. The following officers were elected: President, Joseph Selwood; vice president, Henry Niedecken; treasurer, M. J. Luther; sec- retary, Edward Niedecken. The West Duluth Furnace, which is said to be controlled now by stockholders of the American Steel Barge Company, is using some Mesabi ore, but not at a price of $2 delivered at the furnace, as has been reported. The price paid for this ore, which is furnished by the Standard Ore Company, is $2 a ton at the mine, f.o.b. At the Champion mine, which was once a favorite among the old line properties, the accumulation of large quantities of hard ore goes on. Unless the market for ore to be delivered next season admits of a place for a large quantity of this ore, a halt must be called at the Champion. A big Worthington pump, to lift 700 gallons of water toa hight of 7oo feet per minute,is being put in at the Ashland mine, in place of a Cornish machine formerly in use. 57,213 00 - Visitors From Lloyds. The visit of Mr. H. J. Cornish, assistant to the chief surveyor | of Lloyd's Register, to shipbuilding centers of the United States on behalf of his society--to which brief allusion was made last week--is of more importance than the reference to it perhaps conveyed. 'The commission from the register committee is a very comprehensive--almost a "roving'--one as regards visiting centers, and observing and recording facts and impressions. As- sociated with Mr. Cornish in the mission will be Mr. S. J. P. Thearle of the Glasgow office, well known as a lucid writer on technical subjects. While the types of ships on the lakes, and the methods of shipbuilding there carried on, will form the ob- jects of special observation and inquiry, those branches of modern shipbuilding in which the Americans come, or promise to come, more directly into rivalry with ourselves--high-speed mail and passenger ocean steamers for example--will form the subject of careful investigation. The yard of Messrs. Cramp & Sons, Phil- adelphia, in which the new Inman flyers are being laid down-- which, by the way, are to be suuject to Lloyd's classification-- will be visited.--Fairplay, London. Another Fast Boat. C. D. Mosher, the designer of the fast craft Norwood, is now completing a 78-foot boat, with 9 feet 6 inches beam. 'The de- signs of boat, engine and boiler are all Mr. Mosher's personal work, and certain novel details of the boiler and engine are cov- ered by his patents. The engine is of the quadruple compound type with cylinders in a straight line, supported over an elliptical base of cast and wrought iron by means of slender steel vertical pillars, each pair of which are braced with straining rods in the form of an X, split down through the point of crossing and pro- vided with a screw by which the braces can be strained until all racking is obviated. 'The stroke of the engine is ten inches and the cylinders are respectively 9%, 13%, 18 and 24 inches in di- ameter. Hvery ounce of superfluous metal has been removed from the castings forming the cylinders and they are handsomely jacketed with sheet brass. It is estimated that the complete engine will weigh less than 3,600 pounds, and that at a speed of 500 to 600 revolutions it will develop from 500 to 600 horse power, with a steam pressure of 250 pounds. 'To secure the minimum of weight with the maximum of strength, all of the working parts have been reduced to the smallest practical dimen- sions, or else relieved of superfluous metal at the center by bor- ing. The rock shafts have one-inch holes through them. The piston and connecting rods are hollow, and the big crank shaft has been bored out whenever a tool could be used upon it. This shaft was carved out of solid steel forging weighing 2,012 pounds. The engine when set up will occupy less than 14 square feet of floor space. | The engine boiler is a pipe boiler of peculiar construction and is built with a view of standing great pressure, occupying lit- tle space and steaming rapidly. Another Half Million Added to Grain Stocks. The following table, prepared from reports of the Chicago board of trade, shows the stocks of wheat and corn in store at the principal points of accumulation on the lakes on Jan. 28, 1893: Wheat, bu. Corn, bu. CHICAS Ojpesteen fe aes Pema ee 13,961,000 5,798,000 TSU tetas Ae caraee cet hee 15,758,000 297,000 Mal wallikee. arccsetke ace ere 2,265,000 22,000 Wetroitc <iccss ees 1,873,000 16,000 DPoledoins2 saves eee es 3,649,000 1,447,000 Patil Om sccr we tee hoe nets 3,451,000 I1L,000 A tall species oot Sa 40,957,000 7,691,000 The electric installations which are being made on the new Cunard liners Campania and Lucania are in keeeping with the other marvellous details. There are four sets of generating plants _ in each ship, each consisting of dynamo and engine coupled direct, to run at the rate of 280 revolutions a minute and give an output of 42,000 watts. This is capable of supplying the 1350 16-candle power incandescent lights--including eight large re-- flectors of eight lights each for working cargo--throughout the ship, and, in addition, a powerful search light for facilitating the navigation of the ship into port, the picking up of moorings, and scouting in time of war. The large switchboard for controlling the lights consists of thirteen sections, so arranged that each may be connected with any of the four dynamos.