The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-17

anticipated in the spring, since the low price
in the south IL appears that this packet bills
on England ware sold at all prices from to lOh, but
that the difficulty OF getting rid Of private paper was
unusually great and that specific orders for remtanoes
In gold were extremely numerous That this state of
things will rapidly stimulate shipments Of cotton and
prsduce' It Is observed by one writer must 90 for
ward at some rate other and shipments Of specie
Be stopped; or We shall have sever: panic here
Hsmburgh has brought about El40 600 In specie. The
ocean steamer which arrived yesterday from Rotterdam
The accounts from thu Amsterdam Bourss notice de-
cline In the value of most public securities produced by
the Of sales coupled with the increasing demand
money The reports from the Frankfort Bourse also
speak OF little business the
tendency Of quotations.
The same duluess has pervaded the colonial markets
during tho week have had occasion to describe for
weeks past Importers have taken advantage Of every
opportunity OF reazug and thus amount OF
business his. been transacted but at extremely low rates
Sugar continues heavy OF SALE and although for
ane qualities full prices have been paid the article gene
rally shows greater degree Of depression than
viousy The public sales both Of Nautilus and Bengal
have been moderate but have passsd OF heavily Some
transactions have taken place publicly In Penang
at very reduced rates. ordinary quality low damp hav
Ing changed hands at 8: per owt in bond rate which
further outlay Of capital to dsfrAy the charges here
With regard to coffee the very large parcels of Ceyou
which have been brought forward consisting chiefly Of
press the Market and although about twothrds Of the
amount put up has met with purchasers has been at
slightly rsceded In value The prices Of saltpetre
barely equal to the extreme rates recently paid and the
rice market is not only Is heavy As previously but has
any public sales held this week. but privately the trans
actions have been on more extended scale.
The railway Ii still pgly dull and
most Of tho sales effected have been at lower quotations
Within the last few days great change has occurred in
the aspect Of business In this department.
MANUFACTURES IN VRGINIA.-From all quar-
tiers, we hear of the erection OF manufacturing
esabhs hments OF one sort or other, upon the most
extensive scale, and in States where manufac-
tories have been heretofore unknown. Old es-
Establishments have been greatly improved and en-
larged, to enable their proprlctors to meet the in
creased demand for their productions. These
results have followed under the tariff of
1916, and furnish abundant evidence of the
wisdom and judgment of Secretary Walker, the
distinguished author and originator of that lead
ing measure.
In the counties of Botetourt Allegheny, Rock
bridge, and Augusta, in Western Virginia, iron
is very abundant, end new iron establish
ments are spriuging up with unparalleled rapid lty.
Old ablishments. that had been permitted to
60 down, have recently been revived, and are
now in successful operation.
In the county of Botetourt, we have five fur
naces now in operation, and others are expected
to be shortly commenced. The old Etna furnace
has, within the last three years, been purchased
who have improved it upon an extensive scale,
and the whole establishment has been placed
upon a permanent footing. This establishment is
under the management of Mr.. Albright, and is
making from fifty to seventy tons per week.
In Allegheny county, the Lucy Sallna fur
mace, the property of Col. John Jordan and Sons,
has been In successful operation for several
years past, and has been doing a very profitable
business. In the year just closed, they have
made, as have been credibly informed, 1882
tons of metal
A new furnace has been lately erected in this
county by WE L. Which IA.
success. Two new furnaces are about to be
erected near Covington, In the same county-the
one by Hazekiah T. Jordan & Co., the other by
James G. Hamilton-both of which will be in
blast during the next year.
In Rockbrldge county, the Bath Iron Works
establishment has been purchased by. Samuel
Shorrerd, enterprising Pennsylvania, and
or nine months past The furnace belonging to
Matthew Bryan has also been in successful
under his management for several
ment and control of that experienced and enter
prslug gentleman, and doubtless as successfully
in future as hereto lore.
A new furnace is now in progress of erection
on the South river, In Rockbrldge, under the
direction of the industrious and enterprising
owners, Samuel F. and Benjamin ]. Jordan
This will doubtless be one of the most extensive
and valuable Improvements of the kind In this
pOTllOH Oh the Stttc. w III Dc LII Uldst
by the first of May next, as am informed, and,
under the management of these experienced and
iudicious gentlemen, must do well.
1t is more than probable new furnace will be
erected near the Alum springs, in Rockbridge,
during the next year. The ore is abundant, aud
in all respects the location is very desirable.
The old furnace of Montgomery & Erwin, in
the county of Augusta, has recently been pur-
and will be reftted Immediately and put in
operation. These facts show that the tariff of
1916 has operated beneficially upon the manutac-
turing business and interests Of the nation All
things seem to have worked together for &C ID
INCIDENTS ATTENDING THE EXPLOSION OF THE