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Iron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. 104 Superior St. es stocks. Par Value. Bid. Asked. veland Iron Mining Company............ $ 25 00 $1500 $1700 MOU AON COMPANY sec cecsscsssevsss ses 25 00 go 00 100 00 enivies 110 00 Esileaveucunasbossavice 50 00 esreweves 120 00 Jackson Iron Company..........ccccsservseesss 25 00 go 00 100 00 Lake Superior Iron Company..............06 25 00 65 00 68 00 Minnesota Iron Company...... haWva svassvewees 100 00 70 00 80 00 Pittsburg Lake Angeline Iron Co.......... 25 00 5 OO) 55 Stans see Republic Iron Company... 25 00 27 00 29 00 - Michigamme............... Aissdsandassvencadevt esses 25 00 8 50 10 00 Iron mining stocks have not recovered from the depression that followed the beginning of a stringency in the money market and the consequent decline in all branches of the iron industry four months ago. Leading Lake Superior stocks have not pre- sented a single change of importance in prices during the past month but trading is, if any, slightly more active. A little interest was started in Republic during the week by rumors of a dividend of 7 per cent., but there has been no official announce- ment that a dividend is even contemplated. Holders show little disposition to part with stock at the low prices and are some- _ what more confident, as it is generally agreed that the tendency must be upward from this time on. The Dunn mine, which Ferdinand Schlesinger retains from _ the financial wreck, has been worked to advantage during the winter and as much ore as can possibly be mined has been opened. The mine can probably produce 250,000 tons of ore during next season if a market can be found for it. The stock pile now con- tains 38,000 tons, an amount equal to that in stock at this time a - year ago. The daily hoist now is about 100 tous. With 100 men at work the Mastodon mine is producing about 5000 tons a month, and has a stock pile of 16,000 tons. This mine can produce as much ore as last year and even increase the output if desired. Another mine of this district that can show a big output is the Shafer. With a third shaft completed this mine can produce 125,000 tons. The miners and mine managersof Michigan are making a determined fight against the Doran bill, the state legislative _ measure which proposes to place a tax of 20 cents a ton on all iron ore produced in the state, and it is probable that they will be successful. The mining interests demand, in answer to the proposed law, that their property be taxed on an equality with other property. Under the present specific tax most of the big mining companies pay in taxes an amount much greater than would be required of them if they were assessed the same as all other property. The Sheridan mine in the Iron River district, owned by John Christie, M. E. Main and others, of Escanaba, gives promise of a liberal output of ore this season that will show 65 per cent. in metallic iron and is about even with the Bessemer limit. A block of several thousand tons is said to have been already sold to the new furnace at Mamstique. The different mines involved in the Schlesinger troubles are behind in the payment of wages to the men. ‘The men at the Negaunee group, who had not been paid for either January or February, quit work last week. After remaining idle a few days their January wages were paid and they returned to work. At the Chapin the January pay roll was also due but the men seem satisfied that they will be paid. The Chapin company is adding a hoisting and pumping plant to its equipment that will eclipse anything in the mining business the world over. Some idea can be formed of the enormous stretch of ground to be drained at the Chapin when it is known that last year the water raised amounted to about 3,000,000 tons, or more than four times the amount of ore produced. The long list of different styles of widlassess which have been taken out and replaced with the Providence windlasses from the American Ship Windlas Company, attest to the superiority of these windlasses over any other style in use. MARINE REVIEW. Costly Dock Work. The new Lake Shore ore docks at Ashtabula Harbor are only partly completed, but some idea of their cost can be formed from the material already used and the expense attending the dredging work. It is estimated that the removal of rock in dredging a slip to the swamp ground, on which the docks will be located, will alone cost $75,000. Ninety cribs are now in place, involving the use of 1,638,000 feet of pine, 2,678,000 feet of hemlock, and 397,000 feet of elm, or a total of 4,713,000 feet of timber of all kinds. In addition to this, 250,000 pounds of bolts and 20,000 yards of Kelley island stone have been used. Over $100,000 has been paid for dredging and labor, the expenditures now exceeding $1,000 a day. Sub-Marine Work. Joseph G. Falcon who engages in sub-marine work of all kinds on the lakes is about to begin wrecking the steamer Kasota, sunk last season in the Detroit river, near Detroit, in collision with the passenger steamer City of Detroit. He has just completed plans and specifications on the Washburn & Moen water pipe plant which is to be laid at Waukegan, III., just south of the United States sugar refinery. It consists of a 36- : inch cast iron pipe running 2,800 feet out into Lake Michigan, with a submerged crib which will revolve by means of air a: keep away ice and other matter. The depth of water being twenty feet, the pipe will be laid through sand and gravel ona bed of rock. A well eighteen feet in diameter will be sunk on shore toa depth of twenty-six feet. Ata distance of one mile and a quarter out in the lake there is only twenty-three feet of water. At present Mr. Falcon is finishing the work of laying a 30-inch cast iron pipe with rotary strainer in the lake at Evanston. Cleveland Matters. Capt. Dahlke has purchased the Chicago pleasure boat Charm. Wrecker Reid will, as soon as the weather permits, begin operations on the schooner Golden Fleece, which went ashore last fall near. Dunkirk, Lake Erie. He has been negotiating with Cleveland parties for assistance in the work. H. D. Root, of Lorain, was in Cleveland on business during the week. Few lake shipbuilders have seen as many years of service as Mr. Root. He has been building boats on the lakes for about fifty years and is still in charge of a ship yard. The Luty, Botsford, Joseph P. Farnan, Margaret Olwell, Our Son, and all of Capt. Greenhalgh’s tugs are among the boats built at Lorain. There is a general tendency among vessel owners to or- ganize stock companies for the management of their property. he Mitchell Transportation Company is the name of a corpora- tion just organized among owners of the steamer W. F. Sauber, building at Wheeler's West Bay City yard for Capt. John Mitchell and others. ‘he steamer Geo. T. Hope, controlled by John C. Fitzpatrick, of Mitchell & Co., is now owned by the Mentor Transportation Company. Both of these companics have nominal headquarters at Mentor, O. The Young Transportation Company is a new Saginaw Valley corporation in which W. A. Young, J. B. Moritz, Louis Moritz, Charles E. Young and Wil- liam A. Young are stockholders. Pavne’s Business Pointers, a 200-page book, contains a mine of information that is used in business every day, and will soon save its worth in time used in looking over two or three books for the facts contained. It also contains the new tariff complete. Excelsior Publishing House, 29 Beckman St., New York. How to Draw and Paint, published by the same company 1s a valuable book for young artists, containing a chapter on marine painting. The tug Caroline Williams, of Manistee, has been sold to the government by Capt. Charles Gnewich. She will be utilized in towing dredges and dump,scows,