New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-03-03


ital stock in eight weeks
II is estimated that the New-Jersey
Mining Company have at lessttwo hundred tbous'
and tuns of Red Zinc Ore in their mines above
water level. Some estimates are very much lar
ger than this, but the Company make moderate
estimate, as above. Beside this Zinc Ore, OF
which no other deposit is known to exist In this
country, the Company possess vein OF franklin
tie, estimated to contain 300 600 tuns, his
FraBklinte possesses the peculiar and valuable
property Of converting common bog iron ore into
an iron suitable for ali purposes of manufacture
recurring toughness, and worth $50 or $40 q tun.
To produce this effect about Is Y cent OF Frank
Unite is required The principal operations oil the
Company at present, however, are confined to the
production of White and Brown Paint from the
Zinc Ores. For the production of the former
twentyfour new furnaces have just been erected
at the works of the Company in Newark, which
will produce six tuns per day. This White Zinc
Paint is a much superior article to paint made
from Lead. That which is used in this country
is imported from France, and sells ct l24c = b.
while White Lead sells at 7c7ic. Y ID. AS
early as 1885 the preparation Of Zinc White was
known, and in 1894 joint commission oil oincerso Oh
the French Navy and the French Institute re-
ported favorably upon it and recommended It's use
in painting ships. The discoveries made by
LeClaire and Sorell, of improved methods OF man
ufacture, so that it can be afforded as cheaPy as
Lead has led to its general adoption In France
Its greater durability and its freedom from the
poisonous and noxious qualities OF Lead has lea
the French Government to use it exclusively on
the public buildings. The Brown Paint also pos
sesses valuable properties. 1t has galvanizlng
effect on iron, and is peculiarly valuable for paint
ng shi ps, steamers, roofs, all metallic surfaces
and wood. Having metallic basis 1t is good
preservative against fire. The iron leftis resid-
ium after sublifning the Zinc from the ore, is an
article of great value for pudding or converting
into Cast Steel having in this country and 10
France withstood severer tests in measuring its
strength than any other species Of iron.
The Banks of Massachusetts at the time
of the last statement exhibited the following lead
ing results The number Of Banks is l27.
Circulation yS&Ii8
Deposits 90
Specie <5IsolU
Immediate liabilities. S4uyOsV?
Immeoiaie i~'f'fi
The highest loan during the year was S6j,365,-
743 and the liabilities of the Directors $40 ,36A
The report of the B ank Commissioners states that
the currency Of the State is in a sound and healthy
condition. They have personally visited every
Bank in the State and find but one, the Pswtuck-
ct Bank, the continuance of which they consider
hazardous to the public.
The Virginia Valley Railroad has been
chartered by the Virginia Legislature.
The Steuben AdUocdte of the 10th states,
that ground on the Buffalo and Conhocton Val
lev Railroad, was broke on chat day at Bath,
and that in few days operations on the whole
line from Bath to Painted Post will be com
menced.
The following statement shows the COM
parative income ofthe Providence and Worcester
Railroad Company, for the years ls49 and 1880
IS49. 1850.
Expenses 81 Il $50 50
Earnings. .srGo22 O5 SIo7.57g 60
Deduct interest paid on bonds. S3,784 62 25s77 80
Nei ACKNOWLEDGEMENTS 2S7 48 eai7as n
The Directors say, during the past year, con-
sidering the depression of business, the Road has
been operated, perhaps, with as much success as
could reasonably have been anticipated.
Inc COMMISSIONERS IOI obtaining SuO-
scriptions to the capital stock of the Girard Rail
road have succeeded in New Orleans beyond their
expectations. After three days effort they re.
ceived actual subscriptions to the amount of
5000 900, and satisfactory that the city
would do all that was desired from her.
The receipts and expenditures of Michi-
gan for the fiscal year ending November 80, are as
follows:
Balance in the Treasury Nov 80 184s......S55457 SO
Making the available for the year. Ss475 81
The expenditures were 445 80 20
Balance charged State Treasurer Nov So 1850 $3.50 %
To which il to he added for outstanding
warrants the general fund .........S 597 80
And for outstanding primary school 10
lerest fund war; ant .............'...s. loO 20 ..
Making actual cash balance In State Treasury SS6O57 IS
The provisions of the new Constitution require
that the Legislature shall provide for an annual
tax sufficient, with other resources, to pay the
expenses of Government and interest on State
debt, and sinking fund, to commence in 1852, of
at least 500 900, increasing at the rate of per
cent. on principal paid off, and per cent. on in
crease of taxable property. Estimating the re-
deemabe portion of the debt at s2OO0oOO, and at
the rate above provided for, it would require IN
til 1875 to iquidate the indebtedness. The ag-
gregate valuation Of taxable property is about
s2s,O0O,OOO The Auditor estimates the ex-