The Express.
London, England, 1862-07-28 00:00:00

MINES.-(THIS DAYJ

Two o'Ozooi.

In the mining marketto-day Wheel Ludoott shares
are decidedly firmer, and have recovered to 188 to
ttEast Caradon are quoted 441 to 1; Marko Valley,
to ; Tin Croft, 11 to k ; Great Wheal Fortune,
to k, being firm ; Wheal Seton, 131 to 133 ; East
Basset, 47 to 49 ; South Phoenix, to 4 ; and
East Devon Great Copse's, 2 to.
Aa regards foreign and colonial mining shares,
prices are unaltered, business being almost at a
standstill. Not a single transaction is officially
marked in the Stock Exchange.
The Quebrada Land, Railway, and Mining Com-
pany (Limited) has been formed under highly re-
spectable auspices, to develop a well-known pro-
perty, rich in mineral wealth, in Venezuela. This
is one of those regions which, though
abounding in metal, have hitherto been un-
worked, by reason, not of their inaccessibility, but
of the coat of transporting the produce from the
scene of operations to a shipping port. The only
question seems to be that of the transit to the sea,
and the attention of the present company is judi-
ciously directed to improving it, and diminishing
its cost. With this object, it will be neoeesary to
' construct a small railway to a point where the
river Aroa is navigable ; and in order to make the et,
railway itself profitable, the company has pur-
chased a considerable tract of country at I:
the price of 3s, 9d. an acre. The estate
contains 250,000 acres, and it is affirmed that
the purchase money may be covered by the sale of --
the timber alone. Portions of the property are
stated to be peculiarly suitable to the growth of
cotton-a plant which is already found there in a
wild state. Samples of the uncultivated cotton
are now on view in the Venezuelan Court at the
International Exhibition, and are pronounced to be
of superior quality. As to the richness of the
mines, there la adduced the testimony of a num-
ber of respectable witnesses. Copper ore in great
quantity, and worth in some instances 30 per cent.,
is laid bare, and these statements tally with
the experience of former times, when, the price of
copper being much below what it is now, large
quantities were sold in this country. The pre-
liminary arrangements made with contractors and
others, appear to be of an unusually careful and
complete character, and it is probably owing to
this circumstance that a large portion of the capital
of the undertaking has already been privately sub-
scribed for. The mines are now in work, and the
lease, which is for 999 years, extends to all
mineral rights over a apace of 36 square miles.
The promoters are to receive no remuneration
until the shareholders have received back the
whole of their capital in dividends. The total capi-
tal of the company is 170,0001. in 101. shares. The
shares were quoted to-day 1 to 1 prem.
The following weekly report on the metal market,
is from the circular of Messrs. von Dadelszen and
North:
There is no sew feature of interest in the metal market
since our last report. There is a quiet but steady demand,
and quotations allow but little change.
Welsh bars remain steady at from 51. 2a. 6d to 5/. ss.
f.o.b. Wales, and from 51. 17s. 6d. to 6/. f.o.b. here. Rails
are firm at from 51. 10s. to 61. The better qualities of
Staffordshire are in fair demand. Scotch pig iron, after de-
clining to 50e. 9d., comes firmer; cash sellers, 51s. did.
Copper-The smelters adhere to fixed quotations, both
for raw and manufactured, end only in exceptional cases
second-hand parcels are obtainable a trifle under official
prices. Foreign hu been rather quiet, and bullion cur-
tailed. We quote both Buns and Kapuuda, 951. ;
90/. ; Chili, 861.
Tin-English unchanged in price, and in but moderate de.
mend. A fair amount of business has been done in Straits
at 1131. cash, and with full prompt. Bancia, 1151. 10s. to
116/., but very quiet. The Dutch market is steady at 68f.
Tin Hates-The manufacturers are working off old con-
tracts, while buyers are very cautious in entering into fresh
engagements, through the adverse news from dew York,
both as regards increased duty sod advancing exchange.
Lead is still depressed and difficult of sale.
Speller -A large amount of business has been done, prin-
cipally for forward delivery in Hull, at 18/. ss. per ton,
and we quote spot parcels, favourite brands, the same price.
But little business has been done in spelter in warehouse
here, which is obtainable at 181.
Wheal Trannack Mine, on the 21st inst., made a call of
54. per share.
West Wheel Jane, on the 23rd inst., made a call of 21. 6d.
per share.
South Gotland Mine, on the 73rd inst., made a call of 10a.
per share.
At South Bryn Gwiog Mine pleating, ;on the 23rd inst..,
the amounts showed a debit balance of 1041. is. 23. A call
of 21. per share was made.