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Oe Ne equal efficiency. Coke blast furnace, 250,tons per day; these two furnaces, with all accessories, such as blowing engines, elevated railroad skips, bins, electrical unloaders are of the latest type, $1,805,316.22. Charcoal retort and by-product, the finest and largest in the world; the product is 1,600 gallons, 85 per cent. alcohol, 8,000 bushels charcoal, 240 cwt. gray acetate of lime, daily, $503,197.60. Charcoal kilns, located at Wilde and Searchmont on Algoma Central & Hudson Bay railroad, 56 kilns, daily capacity 4,000 bushels charcoal, $130,- 020.36.. Wharves, at steel plant; these wharves are well built and very extensive with electrical traveling unloaders for ores and coal; etc., $229,414.36. Limestone: properties, one located in Michigan at Petoskey, and the other, Bruce Mines, Ont., $7,975.28. Power transmission line, from power house to steel plant, about one mile long, $30,747.03. Residences and cottages, located at Tagona; one hundred and thirty-four cottages and six houses of large size for superintendents; all in excellent condition, $192,339.15. Total, $5,331,925.63. Algoma: Central & Hudson Bay R. R. Co.--Railroad and equipment; over 100 miles in operation, large portion of the balance of the line graded and ties on ground; the road is splendidly built in every way, with concrete culverts, etc. Nineteen locomotives, 200 steel ore cars, 25 gondolas, 23 _ charcoal, 94 dump, 497 flat, 10 passenger,' 36 box, 28 work cars, $8,170,586.61. Steamships and barges, 3 passenger steam- ers, I.tug, 4 ore steamers, capacity 9,150 tons, 2 ore barges, capacity 8,000 tons--17,150 tons, total, $837,710.66. Car shops, at Sault Ste. Marie; capacity, 7 flat or 6 box cars per day. Total, $0,017,207.27. Manitoulin & North Shore R. R. Co.--Railroad, 14 miles constructed from Sudbury to Nickel. Mines; this road uses rolling stock belonging to the Algoma Central & Hudson Bay Railroad. Total, $533,186.95. Trans. St. Mary's Traction Co--Street 'car lines, in full operation; street car lines owning franchises for streets in Sault, Mich.; the two lines are on the American and Canadian sides, and have a mileage of about 16 miles, and operate 15 'passenger cars. Total, $217,784.41. International Transit Co--Street car lines and_ ferries. Street car lines in Sault, Ont., and Tagona; also operates ferry between the two Soo's in connection with the street cars; in full operation. Total, $308,744.51. The British-American Express Co.--Conducting express business on the railroad and steamship lines of the Algoma Central & Hudson Bay Railway Co. and Manitoulin and North Shore Railway Co. Grand total, $28,259,177.06. Investments in other companies.--The Lake Superior Power Co., $282,600. The Algoma Commerical Co., Ltd., $168,334.24; The Michigan Lake Superior Power Co., $106,184.80. Total, $28,816,296.10. : The material and supplies in hand are valued at $2,699,- 390.72. The capital stock is stated to be $46,350,000, and the bonds $30,517,572. STATE OWNERSHIP OF ORE LANDS Duluth, July 26.--Reference has frequently been made to the mine interests'in northern Minnesota owned by the state as a commonwealth, but the importance of these is scarcely real- ized. It will not be far out of the way to estimate the amount of ore now shown on state lands at 100,000,000 toms, all of which is under lease to large operating interests. Mining on state lands has never been especially rapid, chiefly on account of the fact that the state's leases are easier, in the matter of minimum outputs, than those of any private owners, and it is easy to hold these lands in reserve. But at this time about 2,000 tons a day are coming off these lands. State leases are on the basis of 25 cents a ton royalty, in which they differ little from the average of private leases on the Mesabi range, bui instead of a minimum output of from 50,000 to 100,000 tons for each 160 acres or fraction thereof Re ve Ww contained in a single lease there is a requitement of only 5,000 tons at the maximum, and no payment other than $100 a year for the first five years of lease, and until a railroad is within a mile of the property. If no road is within a mile of the land when the contract is made then five years can elapse after such road is built before more than 1,000 tons need be mined or paid for. The state maintains an inspector who looks after shipments and examines the various leases and contracts outstanding. At this time only the Pool mine of the Oliver Iron Mining Co., and the Grant of the Interstate Mining Co., are operat- ing on state land. But there are opened the Minnewas and Oliver of the Oliver Iron Mining Co., the Elizabeth of the Scranton Mining Co., and the Yates and Frantz of the Con- sumers Ore Co. The last three are new mines. Oliver will probably ship a trifle this year. ae CHICAGO GRAIN REPORT. Chicago, July 26.--Since last weekly account rates have ranged from 34 cent to I cent basis Buffalo corn. Liners in their special adaptation to various sized lots have con- trolled quite steadily in engagements at the I cent basis. Cargo lots suited to outside vessels are still somewhat un- settled but under the generally improved market tone their engagements are going with fair regularity at 7 cent to I cent according to character of loading. The export cash situation is about unchanged and rates are nominally 3 cents corn through to Montreal and 7g cent to Georgian Bay points. Grain receipts are about meeting with expectations. The substantial movement of wheat, corn and oats from country points stimulating an improved milling business and general betterment in our export position. The distribution of weekly shipments notedsbelow is about as follows: Via 'all rail lines of. wheat. 161,000 bu., corm 228,000 bu. and oats 631,000 bu. Via lake routing to Buffalo and other American points 875,000 bu. corn and 95,000 bu. oats; and via lake routing to Canada points 75,009 bu. corn. Lake and rail shipments: Same week i This week. Last week. last year. What on eee 198,950 147,200 209,567 COP i eee ele 1,183,885 1,878,098 1,849,793 Oats ee ee 724,888 980,215 1,120,595 2,107,723 3,005,513 3,179,955 Shipments since Same time Jan. 1, 1904. last year. Vi eat) Ge eae 7: 320,537 11,901,330 COM a A a 35,008,777 46,185,788 Cage ee Pee ae 26,064,043 37,597,290 68,483,357 95,684,408 Stocks of grain in elevators: ' Same week This week. Last week. last year. Wikhteat fe ea. T.992,090 2,144,000 3,532,000 Cormion sts) eos. SemOod 5,534,000 6,738,000 Oat he 642,009 736,090 2,928,000 RVG Se. 482,000 454,090 292,099 8,591,090 8,868,000 13,490,000 The Newport News ship yard is busier than it has been in years, having contracts in hand aggregating $25,000,000 and employing in the neighborhood of 7,009 men, the largest force eyer used. Under construction are the United States battle- ships. Virginia, Louisiana and Missouri, armored cruisers West Virginia and Maryland, protected cruiser Charleston, together with four large ferry steamers for the Hoboken Ferryboat Co. of New York, and five submarine torpedo boats for the Lake company.