New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-04-25
FRElGHrS AND SHIPPING ON THE LIKES

OWNERS OF VESSELS REJOICING IN FAVORABLE
CONTRACTS FOR THE sEAsON-wEAK FURNACE
MEN IN TROUBLE WITH THE HIGH FREIGHIs-
COAL, GRAIN AND LUMBER TRANS PoRTAToN.
TFRoM AN OCCASIONAL CORRESPONDENT OF THE TRIBUhEI
CLEVELAND, April 21.-Vessel men in this
region are as a general thing, we'll pleased with the
outlook because they had the good sense to make sea-
son contracts Winter when iron ore frehts were at
the highest point In about two weeks during last Jan
NARY 100000 tons Of Marquette and EseanRba ore
were sold and covered with contracts for delivery
About 800 900 tons OF this are to come TO Ceve
land and adjacent ports on Lake Erie, and the trame
will require at least $50 vessels Nearly every craft
here suitable for the business Is chartered Tor the sea
SOD assuring from 81 75 TO 81 per ton from
Escanaba and SO 90 to 90 95 from Marquette. As they
carried ore last season low as 90 cents from the
former port and 81 25 from the latter 1t Will be seen
that they have good cause for rejoicing This large
quantity Of ORE exceeding the entire production OF the
mines last season. sold the furnaces IN this region
mt prices ranging from $40 to S12 90 or at an advance
of about IS per ton on last years prices
Il ia well understood that many OF these large
mining companies declared dividends OF 10 per cent on
their stock valuation for 1872 and some idea may be
gained OF the dividends they anticipate OF tho
end OF this years business Mr. Tiden is largely inter
ested in what is known ne the NewYork mine, which
nrodueed some 60 900 tons OF last and which
will in all probability double its production this year
this IA one of the sources from which the barrel to
be replenished.
There Is trouble, however brewing with the weaker
furnace men, who are already talking Of repudating
their contracts in view OF the recent decline In iron
It ia we'll understood that number OF weak concerns
were blown in on the wave OF prosperity
in this line OF business last FALL and now they find that
they cannot pay these prices for ore and compete In the
market with foreign ron and they are asking the orc
companies TO divide their enormous profits rather than
see them forced TO tho WALL AS the companies are
ttong a,orn mi
posed to reduce reghtS There is also some anxiety on
this account In anticipation OF reduction OF OF
tho furnace men, which would In all probability lead to
numerous strikes and more or less trouble throughout
the iron and coal regions Coal freghts to Lake mch-
gan ports declined from 90 cents to 60 cents per
The open Winter ard the low price Of anthracite coal
last leave the dealers in the Northwest with b-
era stocks hand this Spring ana In consequence the
reights both here and OF Chicago, Is the early opening
Of navigation on the lower lakes while the upperake
enabled aT Of the ore feet to put 10 one trip in coal
up and grain down, before they could possibly get any
ore 10 carry. This rush Of vessels 10 Chicago has re-
duced tho rate from cents TO gig cents 20 Bu
Glo at the present time but Is thought that as soon
higher the large amount Of grain TO be transported
will be out Of proportion 10 the numbeNOf craft IN the
The high last Fall and the ore contracts of
last Winter stimulated shipbuldmR and II 10 an easy
matter 10 count twenty largo prOpeers and barRes
on the various points around the lakes Inc
tendency is TO larger craft and towing ia gradually
taking the place OF sailing, while inch of water
ia the sault Canal ana the Lme.kns Crossing In the
Of tho lakes would exceed toms and would
include large amount OF rebuilding that has done
past Winter The total tonnage that passed out Of
commission last was 1880 tons. and It was an
| unusually stormy year on the lakes though thus
| far this season bids fair to exceed it. Making
all allowance IN this respect necessary, II s safe TO es
mate an increase OF 10000 tons In the American bot
toms on the lakes this season. The estimated produc
ton Of the Lake Superior mines s about tons
for this year. This, with 100000 bushels Of grain IN
| LAX Michigan ports 20 come forward and the usual
amount Of lumber, about 2.5O0000000 feet TO be car
ried, with ar rrelghtage IN coal and merchandise TO
the uuper lake region, will give active employment TO
the tonnage Of the lakes and tho prospects, at this carly
day. arc certainly gOOd Notwithstanding the present
depression In frBiRhts.