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MARINE REVIEW. lron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. 104 Superior St. Cleveland, O. Stocks. Par Value. id. $ Cleveland--Cliffs Iron Company.............. $100 oo Poo roa Champronglron, Companyer eee cc '25 00 2OMOO WES i aie Chandler iron Companies ee ZR OOR cat gtneeas 40 00 Jackson Iron Company....... sistesteeeeeioc ce ee ss 25 00 eeslacerii 75 00 Lake Superior Iron Company..............06 25 00 '86 bola Peiaee Minnesota Iron Company...... are ie tetoftcroote ier so LOO BOO. © NE Taeseeatne 60 00 Pittsburgh & Lake Angeline Iron Co..... 25.00 * cscs I40 OO Republiclron .Conmlpantyeeseeseasen eee 25. 00 Luge ct 9 25 Ashland ..... noceee et Seen fi Cate wicteeisatae erste of Ar P25 GOO pais tmiuccstenn. ae Section Thirty-three.......... Secuerumctties septa 25 00 I 00 SE daeicite BEOCHErtOMts cok. osteo een tes eee 25 00 2 00 2 50 Iron Belt...... saamaneie doce ase Sb OnO AG HOU OAd SSO aEod 25 00 2 40 27 ATI OLAlte a cneeeee te ateee ate Mons eeeee ee doadocn. . 2S} x0) 6 50 7 00 With great loss from forest fires in the new Missabe range towns, there is every indication of a still further reduction in the output of ore from the range, while the big Norrie mine on the Gogebic is threatened with a restriction in its output on account of an epidemic of typhoid at Ironwood. At the Colby and other mines of the Wisconsin Central syndicate on the Gogebic range there are no indications of work being resumed, and on the whole the leading mines of the entire Lake Superior region seem to be doing little more than some properties that have already been closed. Reports from the Missabe say that the Biwabik and Canton mines, the latter owned by the Minnesota company, have loaded some ore into cars, but all of these new properties are, inthe matter of developement, very much behind what was expected of them by even the most conservative mine owners. The Merritt-Rockefeller syndicate has advanced money for the development of another property, the McKinley, and will rush work on extensions from their railway to the mine. Mr. W.'D. Rees, now the ruling spirit in the Lake Superior Iron Company, says his company will ship no unsold ore this year. Large stocks of last year's unsold product were carried over this spring. Although the Lake Superior probably ranks next to the Minnesota among the most important properties in the Lake Superior region, no dividends need be expected by stockholders, as the company is bearing, with the smailer con-_ cerns, its share of the drawbacks caused by the depression in business. saa S. L. Botsford, president of the Mahoning Valley Iron Com- pany, and L,. K. Cochran of the Andrews Bros. Furnace Company have been in Duluth negotiating for mineral lands. They were accompanied on a visit to the Missabe by W. C. Agnew, mining expert. Duluth newspapers report that these gentlemen with Frank Hitchcock of Andrews, Hichcock & Co. will organize a mining company for the developement of lands, upon which they have secured an option. Ferdinand Schlesinger has purchased from Ishpeming par- ties a property known as the Lucky Star and located just west of the Prince of Wales mine, Negaunee. Drill work on the property showed a body of hematite possessing a thickness of about 40 feet. It is supposed to be a continuation of the Buffalo deposit. The Penn Iron Company, Menominee range, has 'shipped about 120,000 tons of oreto date. 'The Commonwealth company which is also working large territory on the same range, is mov- ing 1,200 to 1,500 tons daily, but the ore is all from the mines, the stock piles remaining undisturbed. The report of the inaugural meeting of the Lake Superior Mining Institute, held at Ironwood in March last, is a neat and valuable pamphlet, which reflects credit upon Secretary H. W. Denton of Houghton, Mich. The steambarge S. C. Clark burned off Port Sanilac, Wed- nesday. 'Ihe Desmond picked up the charred hull and towed it to Port Huron. 'Ihe Clark was owned by J. W. Squires, Marine City, valued at $15,000 and insured for $11,000. She is a total loss. The Columbus fleet, the Santa Maria, Pinta and Nina, ar- rived at.Ogdensburg this week, and before another week has passed will probably reach Cleveland and pass up the rivers. Their quaint build.and the fact that as far as possible they are duplicates of the original fleet will make it worth while keeping a good lookout for them. Shi Progress of the Shipmasters' Association. (From the Association Directory.) ; March 2, 1886, through the efforts of Martin Niland, Wil- liam Dickson, Parlan McFarland, Edmund Cordon, Jno. H. Des- sette and other well-known lake captains, some of whom were as influential as the above,there was formed at Buffalo, N.Y., the organization known as the Ship Masters' Association, formerly the Excelsior Marine Benevolent Association. 'That it hada good foundation is proven by the present membership, consist- ing of between 800 and goo of the better class of lake masters. The condition of finances shown in the last annual report proved that its financial policy was sound. Since its organization the association has paid twenty-eight death claims, eleven hay- ing been paid during the past year. Considering the extra hazardous risk on lives of lake captains this is very reasonable life insurance. 'Then there is some satisfaction in knowing that MEMBERS OF THE GRAND LODGE, SHIPMASTERS' ASSOCIATION. when an assessment is made it is for the benefit of the family ot a friend and brother. In addition to the social and beneficial benefits, through discussions at their meetings, the association has been influential in securing needed legislation on raft tow- ing, lights, fog signals and regulation of speed in narrow chan- nels. 'I'he discussions and lectures on compasses, affairs in ad- miralty, and other subjects, which are features of the regular weekly meetings held when navigation is closed have been of great benefit to the members. The following from the address of the grand president should be the key-note of the organization: " The great truth that every member is bound to do something to benefit the fraternity at large has become recognized as the fundamental principle of our organization, and it is no longer necessary to support this truth by argument; all that remains for us to do is to point out its application and enforce its importance,"