The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Record of Speed and Big Cargoes. (Masters or owners are invited to report improvement on this list.] _ Iron ore: Maryland, Inter-Ocean Transportation Company, of Milwau- kee, 3,322 gross or 3,737 net tons from Escanaba; Pontiac, Cleveland Iron Mining Company, of Cleveland, 2,933 gross or 3,285 net tons from Escan- aba; Brazil, 2,932 gross tons or 3,284 net tons from Escanaba; Corsica, Mutual Transportation Company, of Cleveland, 2,921 gross or 3,271 net tons from Escanaba. Corn, Buffalo to Chicago; Emily P. Weed, Hollister Transportation Company, 111,000 bushels of corn, Chicago to Buffalo. Wooden boats -—Neshoto, R. R. Rhodes, of Cleveland, 102,000 bushels of corn from Chi- — Lake Superior—Western Reserve 96,258 bushel of wheat from uluth. ; 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 to minutes, 16 miles an hour. ; Iron M ining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. 104 Superior St. Mr. Carnegie and other leading furnace men are said to have given out their intention to buy no ore until late in the spring. They point to stocks of ore on Lake Erie docks valued at $11,000,000, at a low estimate, as a reason for this conclusion and say that ore producers must come down in their prices. This is all true enough under present conditions but it does not seem as though Cleveland ore dealers will bother the furnace men in the matter of ore sales for some time tod come. ‘The feeling traveling expenses than is usual in January. Mr. Carnegie’s de- termination to delay purchases was anticipated. He purchased a too early last fall. Single deals involving $500,000 or more were . - made with him as early as Thanksgiving time and it is reason- : able to suppose that the outcome of the market on which those purchases were made would prompt him to delay operations this F winter Inthe meantime the ore dealers recognize the import- ; ance of awaiting the outcome of the present depression in the ; iron industry as it can hardly become worse. ‘There have been some rumors of a combination among them to restrict produc- tion but this does not seem reasonable to anyone acquainted with the diversity of interests in the business. If the output is to be cut down the condition of the market will regulate the restric- tion. The sales agents have held two or three meetings and have submitted statements regarding stocks, etc., that would tend to indicate the course to be pursued but it is not probable that anything further has been done. In the list of quotations on mining stocks, the viinnsota Iron Company’s shares and others have been noticeably marked down. There is little or no sale for stocks and prices are very low. In an interview in Detroit a few days ago, C. H. Brotherton, of Port Arthur, a leading Canadian capitalist, known recently in connection with the development of the Sudbury nickel mining district, said that itis only a matter of two or three years. at the outside, when iron ore will be shipped from the Ontario district near Port Arthur. ‘‘Together with several others I have 2,000 acres of land located for iron’’ says he, ‘‘and we are this winter surveying 10,000 acres more. The Canadian government requires us to make our own surveys, and pay $2 an acre besides, but it gives an absolute title. Mr. Van Hise, state ‘geologist of Wisconsin, Mr. Pumpelly, of Providence, R. IJ.,and Mr. Smyth, a Michigan geologist, have also just purchased 10,0090 acres, all foriron, In silver mining we are constantly MARINE REVIEW. 5 Grain: Steel boats—America, Drake syndicate, 111,507 bushels of $ Stocks. ‘ Par Value. Bid. Asked. Cleveland Iron Mining Company............ $ 25 00 $ 17 00 $ 18 00 Champion Iron Company..........sssecseesees 25 00 g0 00 100 00 CBNGIEY ITO OMPANY...0....000cs.00evedveses 25 00 39. 00 40 00 (chicago and Minnesota Ore Company..... 100 00. eeeeeeess 110 00 Iron Clits Iron Company............0..ecesee0 50 00 120 00 125 00 Jackson iron “Company. i .c.c. cece ces ees es 25 00 go 00 100 00 Lake Superior Iron Company......... een 25 00 68 75 69 00 Minnesota Iron Company...... iat sh ae bioas Sénee 100 00 70 00 80 00 © Pittsburg Lake Angeline Iron Co ......... 25 00 EAS OD 0 otivine Repuplic Iron Company............. sees sss 25 00 28 00 29 00 PACT I 605555: 5 angst bans ccs seve ee eien-c = 25 00 8 50 10 00 among them would indicate that they will spend less money for = making a better showing and new discoveries are frequent. The Beaver mine, owned by Gen. Alger, shipped $20,000 of bullion from its mill last month, and the Badger, owned by Milwaukee parties, shipped $30,000 worth. ‘These are the only two mines which have mills. Just at present I am more particularly interested in nickel mining at Sudbury, at the junction of the Duluth,South Shore and Atlantic and the Canadian Pacific Rail- roads. Everything is booming at Sudbury, and the town has a population of 4,000 all gained within a very short time. The nickel mines are proving very profitable. T'wo mills are running night and day on the products of the various mines and more are soon to be established. I took up 1,o00 acres just west of Sudbury a short time-ago, and have found very high grade ore upon it.”’ It is generally announced that the Escanaba, Iron Mountain and Western Railway (new Schlesinger road,) has been con- ditionally sold to the Chicago and Northwestern, although Mr. Schlesinger denies the report. In building the line Mr. Schles- inger had the backing and support of business men in that part of Northern Michigan which the road traverses, who were anxious to have a competing line by. which they could secure better rates. The Northwestern has long enjoyed a monopoly of the business and the report that it has secured control of the Escanaba has caused considerable ill feeling. The ‘Soo’ line made strong efforts last spring to induce Mr. Schlesinger to let te it complete the line, but without success. The Escanaba road is and Iron Mountain. Only a small part of it is operated, and its main business comes from Schlesinger’s iron mines. The ion is to extend the line to Florence and Crystal Falls to conr it with the Schlesinger mines at those places. Se: Duluth newspapers are engaged in booming the Mesabi, — range, situated near the Vermillion. A great deal of exploring is going on. It is claimed that no prospecting shaft has been sunk between the quartzite and slate formations without encountering a good quality of ore, and that the general impress- ion that the formation is of a thin blanket form has been proven erroneous by late developments. este The big electrical companies are endeavoring to introduce labor saving machinery into the Lake Superior mines, and it is probable that some of the apparatus will be given a trial shortly, as the companies offer to make tests at their ownexpense. They claim to have machinery for underground haulage, and the oper- ations of hoists, pumps and drills that will lessen the cost of pro- duction. The managers of the Iron River mine are among the pro- ducers of low grade ore who have decided to restrict production, in view of the unsatisfactory outlook in the market. The mine has about 54,000 tons of unsold ore in stock. As this is about one-third of the total sales of last year, the plan of restriction seems advisable. The Two Minnesota Steamships. The list of vessels building on the lakes, as published in the MARINE REvIew recently, excited considerable attention, as it showed 77,950 tons of floating property, valued at $5,337,000 was under construction: ‘Those figures, however, were just 5,300 tons and $400,000 less than they should have been, making the entire tonnage building on the lakes 83,250 and the valuation $5,737,000. ‘This deficiency was caused by not including the two steamships building by the Chicago Ship Building Company, the carrying tonnage and. valuation of which amounts to 5,300 tons and $400,000. ‘They are the first steel vessels built as far west as Chicago, and are the first built by this company, although the company is composed of gentlemen who have been connected for some time with the buiness of building steel ships. Practically the two ships are duplicates of the four Minnesota ships built by the Globe Iron Works Company, but they will have some features added that will easily distinguish them from their sister ships. ‘They will be ready for business at the open- ing of navigation. The yard is equipped with a Brown canti- lever ship yard crane, with which the triple expansion engines were recently hoisted and placed into position, to aR satiate oa anita