To-day it is “Jim,” or James C. Wallace, of Cleveland, as he is better known, who is the champion shipbuilder of the world. He is President of the American Shipbuilding Company. Probably in no other part of the world is the romantic more largely associated with modern progress than on the Great Lakes, and in these two men--Wallace and Pessano--it is revealed in a singular way. Together they govern shipbuilding on the Inland Seas. Both of these great men began in the dinner-pail brigade. They worked in overalls and grease, not for “experience,” but because they had to; they pulled and heaved with common labourers; they rose, step by step, from the lowest ranks--and to-day, monuments to courage and ambition, they are the earth’s two greatest builders of ships. In a novel such characters would be declared almost impossible. But the Lakes breed such as these. There are others whose careers have been even more remarkable, and I will tell of these later--men whose rise from poverty to wealth and power rivals in romance and adventure the most glowing stories of the Goulds and Astors. Mr. Pessano, “the independent,” does not entirely monopolise Detroit shipbuilding, for Wallace was there ahead of him with one of the trust’s big yards, which is known under the name of the Detroit Shipbuilding Company. It materially assists in the city’s greatness, and will continue to do so more and more each year. During 1907, it launched six big freighters in Detroit, and that city, together with eight other Lake cities, heaps blessings on the trust. For the trust is most generous and unprejudiced in its distribution of yards. It builds ships in one huge yard at Superior, in two at Chicago, two at Cleveland, and in one at Lorain, Buffalo, Wyandotte, Detroit, and Milwaukee. Among these cities it has distributed over fifteen million dollars in capital, and it is estimated that it affords a livelihood for between fifty and sixty thousand people. In 1907, the different yards built twice the tonnage of the next two largest shipbuilding concerns in the world combined--those of Doxford and Sons, of Sunderland, and Harland and Wolff, of Belfast, whose aggregate tonnage was not over one hundred and fifty thousand. The astonishing rate at which Lake shipbuilding is increasing is shown in the fact that the trust’s production for 1907 was twice that of 1905, which was 117,482 tons, divided among twenty vessels. A new factor has come into Lake shipbuilding which will count considerably in the future. This is the Toledo Shipbuilding Company, which purchased the Craig yards in 1906, and which has expended a great deal of money since that time in perfecting its plant, until now it has one of the most modern construction yards on the Lakes. [Illustration: Her First Trip--Off for the Ore Regions of the North.]