The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-11

n
II We mistake not the company statec iAep the thre
and half millions NsSoo 900, OF Inc.. II Bonds were
issued, that 1t was all they wanted Il complsts the
road and pay all the floating debt. ~ shst time wa
stated that more money would be to complete
the work. and 1t now appears our ssfioipstons were
correct We are little anxious to know what tho
new iisue Of bonds will DO called. 1t may be = new
Issue Of Income Bends third Mortgage Bondso or Eoui
ment Bonds Morris Canal slowly, but steadily settling
down under the influence Of the legal sbouc
taking place. The argument In relation to the I'M
ton has been postponed at the solicitation of the com
pAny, and Monday next has been appointed 1t to-
come off, In the meantime, the board Of directors
should examine the supplement to the charter passed
last year. and see fiji would not be more eredtable to-
conform ct to Its provisions than to go through
all the operations OF Injunction and finally be
PEELED to carry out the act Of the Legislature. We
have very high opinion OF Mr.. Marsh the President
Of this company, and believe that the affairs OF tho
canal well managed but there appears to be souo
interest at work. sufficiently influential to prevent tho
board from consolidating the old stock the ls3
directs Canton Company will reach, the ratio
it Is running down, prices ruling twelve monthD
since.
The receipts at the office Of the Assistant Treasurer
OF this port, to-day amounted to $4,000; psynaento
$3459 s1-bslance, $4,5s4273 rs.
From recent xplorstons aud surveys made inone oc
Mining Company of Newark there Is estimated TO DO
over two hundred thousand tons of the red oxide o
zinc above water level This Is brought to Newark
by the Morris Canal. where it Is manufactured into
black brown, and white zine paints, the demand
for which the agents have thus far been unable to
supply The company is continually adding to ito
machinery and power, with the hope of msnufactur,
ing sufficient to meet the wants for consumption.
Richard Jones, Esq, the superintendent director CO
Ia m Dauv In a Iaffa 70 tba Raar I'd
"The brown zinc paint consider the most valuable
paint known from its sheapness and the many valna
Bile properties 1t possesses have not heretofore men
toned to that in adopting canvass roofs for QUIZ
buildings, hr Land., who puts them on in this pia.
tried some periments both to its stopping tho
pores of the CLOTH and resisting Ere In the lattice
trial took two pieces of canvass ana painted one
with the Ohio paint and with tn SAL,
over the fla me OF a cand.e-the frst burned through
in ga minutes, and the latter in So showing supe-
riority In that way. was much sstonished to- day,
when cutting some sheet iron attached to fixtures
which psinttd about 10 ago to find the rsr
completely galvanized
There small sale Of this stock at the first board
to day, at thirteen per cent.
The rapid increase In population in this country,
and the comparatv ely limited number of prominent
points for manufacturing and commercial purpossr,
make it important that those partially developed
should be taken hold OF by capitalists, and their
sources made available at the earliest moment. Pco.
pery in the Western States, favorably located for
manufacturing and me chanca purposes increases so
rapidly in value that those who first take hold Of tho
most important places pretty to realize largo
fortunes. We could point out dozens Of instancec
where the foundation of the fortunes of morare
have been laid in this way. There is not large city
or town in the country, the original owners Of which
have not become rich solely by the rise in the value o
landed property The ground on which all cur Western
cities stand possessed few since trng yaluo
compared with what 1t at present commands. Withr,
MA hav. ha>,
formed in Boston for the purchase of land in that
immediate vicinity and i'm provements hav progres.ecy
so rapidly that many Of them have realized enermou.
dividends, and all the others have met the moe.s
sanguine expectations formed in relation to them.
Even Canton Co., notwithstanding the recent enor.
NOUS epeculstions In the stock will OF these dayp
be worth something. Eegeworth Company will ulti-
matey be worth much mere than it 10 nov selling at
At this moment, the most prominent. land stock com-
pany in this ket the Portsmouth Dry Docl.
and Steamboat Basin Company. Portsmouth is ssust.
ed on the north bank of the Ohio river ITO miles es
OF Cincinnati and at the mouth OF the Scoto river
At tins place terminates the Ohio Canal, which con,.
at Cleveland on Lake Erie and 300 milep
through the most fertile part of the State Tbs
extends about halt mile along the bank Of the river
and built up with handsome brick stores and dwell
ipgs The bank Is graded so as to make slope o,
thirty dsgreer and thus the boats that nsyigat
the river approach nearer the town thu water in
creases In height. Malleable iron Of the best kiri
found In the vicinity Of rtsmouth, In the sreates
abundance. There are In operation within forty
miles Of the town thirty tvs furnaces making iron
that employ 10000 persons, who consume $500 tonso
manufactured goods 1880 tons OF provisions and pro-
duce, 10 600 tons metal. The Portsmouth Dry DcsIS
Company own one thousand acres OF land portion o.
which s impioved The company was Incorporated by
thestate Of Ohio TO enable it to make the followip
Improvements
let. A canal extending from the Ohio canal half n
mile to the river, and basin extending along the
bank Of the river for canal boats.
"a steamboat basin, elevated 20 feet above tho
river at low water 500 feet wide ana half mile lopy
Sd Locks, by which steamboats, Of the largest sisc
might be lifted to the surface OF the basin.
9Th Dry Docks on the boundary Of the basin for re-.
pairing steamboats,, 6c.
9th. Yards and manufactures for building boats.
9th bridge across tbs scioto river, tie comps-
nyslsnd.
There improvements are 10 progress. when compe-
ted, they will materially enhance the value Of tho
comfanys property. The resources OF tho company
Tor dividends and for improvements N.:-lst, The.
sale of lots "a Working Of the brosn stone snca
other qusfries. Cd. Wharfage OF steamboats,. Atm.
Tonnage charge on produce and merchandise passinr
to sndfrom the canal. 5tb. Water power s,h. Tolls
on bridge. The only drawback TO a mach mere rapid
Improvement Of this place than hs. been r-aizedhas
been the want Of capital. This dnicity has been re
moved, and We have no doubt bu. that o 70 yeG,r
will suffice With judieous sg,ment to make Pcrts
mouth one Of the largest manufacturing and CONNER
cisl places on the ohio river
The twenty third annual report OF the Baltimore
and surquehanns Railroad Company, gives q very
encouraging account Of the Affairs OF TIE road Tho
gross income of this road iron the transportation o.
tonnage passengers and mails for the ending thu
Seth September 1850 has been s2s4 500 a. while tn
revenues from he s,me for the preceding year
were saspS e. showing an increase Of 50 100 as The
number Of passengers transported between Bstimore
nd YORK 1872 SIS, and between York and Columbia