The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-08-04


dollars The earnings Of the Harlem win mot vary
much from thirty-nvs Thousand dsllsrs. The Long
Island win fall behind last year, and the income Of rail-
roads generally throughout the country, WILL for ths
month, be less than anticipated
1t is stated that of the employers In the transfer
sfhee OF the Vermont Central Railroad Company put
cut about twenty seven hundred share eertd- |
Gates than the capital stock would allow. sppropri-
aiing the proceeds amounting to nearly SIS Ooo 70 his
The value of mershsndis and specie exported from
this port for the month Of July, this year, was |
s. 5l1 o6l, against $29s65s7 FOR the corresponding
month in ls4s, showing an increase Of S5is,37i.
The average receipt per mile on the railroads OF |
Great Britain and Ireland daring the first six months
of ls49, was e11l5, against fl17o for the time
in 1s4s showing decrease this year OF ESQ per mile
similar result has been realised in this country, and
every year will present the state Of things in both
countries. The average will annually decrease while
the cost OF construction will continue to increase with
alarming rapidity. The stockholders in the railroads
of New England have been aroused by several state
ments recently made relative to the management Of
the affairs Of tho companies, and committees have
been appointed to overhaul and investigate the opera
lions of directors. We glad TO this movement
and It IS hoped that these enquiries win be pursued
and these investigations continued until men no
longer screen themselves under . corporation, nor
with mpunity exercise less knowledge rless integrity
In their corporate than in their individual acts
The supply Of coal best adapted to generating steam
has hitherto been obtained from Great Britain great
eoft and uncertainty Of supply This impedment to
the rapidly increasing demands FOR steam railroads
we'll as In steamers, led to examination q
cur resources which has resulted in Increasing
! the efforts finish the Baltimore and Ohio Railroad
and the Chesapeake and Ohio Canal to the great coal
| basin lvi an m m erla nd
As the completion OF these two great and important
works this fall is longer matter of doubt the want
Of supply Of coal will to be bar to the extend
ed Of steam the for the question is not rs
to the fitness OF the Cumberland coal for generating
steam having been fully tested in the Liverpool,
the California and the Chsgres lines of steamers but
tie question hss been how supply be obtained Of
this pc cusr (semi. bituminous) coal!
tcsnty supply Of this coal has hitherto been had
fl ON the OF the Maryland Mining Company, lying
| in the northern part of the great Cumberland coal
basin, and brought to Baltimore by railroad Nature,
however points TO the north branch of the Potomac
the great highway leading to the very heart Of the coal
region, from whence inexhaustibe supplies be OBJ
tanned The north branch enters the coal region at
westernport, where the mountains seem to be cleft
ssunder allow the water pass through exposing to
view numerous strata of coal, iron limestone, Sc
which lie in jurtspostion piled up for the convenience
Of man and accessible with the least possible labor and
expense The veins Of coal forty feet thick in the az
grsgae, worked by drifts which require shaft
they drain themselves the work progresses. 1t 10
estimated that each contains forty thousand tons
OF coal, and about the same Of iron This (ths
southern end Of the basn) Is much the largest but is
comparatively but little known owing chiefly to the
difficulty to reach IT. this, however will be overcome
this fall not only by the completion Of the canal to
Cumberland, and slsekwatsr navigation nearly to
| ester but Baltimore aud Ohio
Railroad a. that company, seeing the importance of
having their road pass through thio part Of the mineral
region have Laid the route on the north branch thus
giving this section the advantage Of two important
modes Of outlet With these facilities the improve
msnts In this part OF the basin will 90 rapidly
Nature has done much for this section for In richness
and quantity Of minerals it is unsurpassed By any locs
tion in the world; is there finer healthy
climate to be found while the land is prOvsrbay pro-
duetive.
Owing TO the dsulty Of access but little has been
this large and valuable zeal region to attract
public attention Only three companies have been form
the Homecoming, the Union, and the PheKx Mining
and Manufacturing Companies. The 6rst Of these IL
the only that has gone into actual operation BY
erecting ssurnsce mills, &c These works located
on Georges Cresh about nine miles from Wesersp port,
TO which plsse the company intend making railroad
these works have been operation regularly
want 1t On outlet The PSsni. Mining ard Msnufao-
turing Company has been more recently organised
Their lands extend from Wsstsrnpsrt eight miles along
the nsrth branch OF the Potomac, chiefly the vir
spis side and In the Last report IL Is stated that they
own twenty two thousand acres of entirely unsneum-
b.rsd land and that the company is not only Of
debt, but also hold 100000 Of is own stock. Zach
share Of this stock the par value Of which IL $780,
presents acre OF valuable nusrs lands-s eircum-
stance noties agreeable to the stakeholder than mpor
tau. b.x tb.y
ofthis steam coal" and ate moderate price the
pence Of delivering in New York wiz no, exceed 81 per
ten, whtn the canal aad railroad are finished, which
will be in . few months. The PhGD.r Company pos
great advantages in the favorable location OF their
lands ana the eircumstSnee that not dollar Of their
sspitsi need be expended in getting thsir eosl 20
market, Although this -SoAl IS emphstcally called
steam coal Ia less SUP erior for rmhng purposes
Ia uscd In all our great steam engine works and IN
ell large iron manufacturing establishments aud Ia cd
ed to be twenty per ssp better than ssy other for
such purposss
There 10 nothing in The way Of investments In
erssing rapidly in this country those Kssas by
Individuals for the benefit Of thsr families AID rsia
tiops Who may live after them. The establishment Of
lifs Insurance. companies In TIE principal cities has
done vast deal 81 good; and these Institutions are
properly sendustss, and eiHsens proper dis
elimination In Ne selection aud sustain only tbocs
that are sosnd the benefits arising from this species 81
investment will be inesculabls IL Is duty
tain aud support domestic iastitution. Instead OF
pstrsDisiDg those CT foreign origin the position and
ding Of which re tno- nothing about. A close
and careful examination iEts ths ekarastsr Of the
English life Insurance. companies, which have their
sEenes in tbis and otker cities Of the Union has
,reet Us that they not only out Of place among
r., but that they are BY means safe Investment. In
eonsequsnes Of the nuuscous contingencies calculated
20 In pair all claims upoa thsn. Thsir capitals odsr
but the shadow q assurance to American citizens
opening policies with thea. In ths svsnt OF these
somraniss bseoming at suy tim. insolvsnt, or
raining solvent IL their ssscts cannot be reached
they eerisny mus. be poor place. fgr inr..ng oAps