The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-21
seMMERcIAL lFFIIRa
M o N NY n lark r r !.

road bonds were in demand and the transactions
than usual Harlem, Readns and Norwich the lead
to-day but the purchases principally time Bank
stocks continue active. Reading Railroad advanced \
per cent Norwich and Worcester k Nicaragua Transit
Co.. III New Jersey Zinc, ii Canton Co. u; Edgeworth,
a. At the second board, Erie Railroad went up per
cent; Reading Railroad, n; Phoenix Mining Co. X;
Nicaragua u, with large sales The market closed firm
with upward tendency There was q sale of Dauphin
Coal Co. at the second board at Al per There will
be peremptory sale at auction tomorrow wednesday,
sf3SO shares Of this stock 1t will be seen by our quota
TONS from day to day, that all the really good bona le
mining stocks steadily working up while those pos
sesng value appear day. and disappear the next
to be heard of again This is favorable feature
and should be strengthened and extended as much as
possible The California gold mining companies got up in
this country should, by all means be avoided. They
sickly, and will be short lived affairs. We have
mines Of coal, iron copper, zinc, and lead in our
immediate vicinity, of incaculable valuo, develope
which will require all the capital that be raised for
that purpose If these mines properly worked and
properly managed, they will yield immense profits and
those interested should be particularly jealous of every
movement made calculated to check the gradual, but
steady return Of public confidence in these Investments
Mining yet in its earliest infancy in this country but
1t is destined to employ capital and give pro-
ductve returns than any other local interest in the
wealth, and there is in the world why
mineral should not be extensively deve-
oped All that is necessary turn attention of capt
aists generally to this business is to condemn at
every attempt to palm OF upon the public the stock
of fictitious companies, the stock Of companies that
have basis BY putting down at all these specu
atiye movements and encouraging but real bona
fde actively operating companies-those which have
hibited something in return for expenditures made-t
will not be long before impetus given to the mining
interest Of the country which must be attended with
most favorable results
The receipts the Office of the Assistant Treasurer
to-day, amounted to sos 2l6 4O payments S1926O2 o.
balance, s3,427, O29 97.
The demand for foreign exchange to-day was quite
active and the supply sufficient to keep down rates
Remittances by the steamship Africa tomorrow WED
nesday) will be large. We quote bills London at 0
914 per ct premium Paris, ST. 25 ST. 20; Amstcr-
dam, 409s 401s; Bremen, 771a a Tx Hamburg, 35s
1854 There will be shipment of specie by this
steamer.
The Erie and other State canals opened this morning
They reported to be in fine navgable order Boats
have been loading in the different sections for severa
days past the entire line will be in active ope
ration This will give great impetus to business in this
city and throughout the West
The receipts of the Albany and Schenectady Railroad
Company, for the months Of January February. and
March, 1852 amounted to Sill 3lS H. against $3 o49 H.
for the corresponding months in 1851, showing in
in the first quarter this year. of S926S o. equal
to 20 per cent The business for April thus has
very large, and will show equal increase The COM
pany have 100000 Of their old bonded debt due and
falling due in june and December next For 100000
of this amount the road originally mortgaged. A
sale of 100000 Of bonds par has Just been
cluded the funds of which to be applied to qudat
the above debt The new bonds hear seven
interest, payable iannualy in this city, first of May
and first of November the principal payable here in If
teen years convertible into stock at the pleasure Of the
holder
bill has passed the Pennsylvania House Of Repre-
sentatves and is before the Senate which provides
for the surrender to the Delaware and Hudson Canal Com
pany Of the right claimed by the State the
Pennsylvania section of the canal at the expiration
thirty from the 18th of March 1923, that is
the 18th of March next.
The Utica Insurance Company have determined to
issue policies, and to wind up its affairs This
has been caused by recent heavy losses at the West
Navigation on Lake Erie is still much impeded by the
immense quantities Of ice 1t extends nearly hun
dred miles above Buffalo few got into Erie
few days since. during strong southery blow, which
drove the ice from the south Shore but adverse winds
have since driven it back again.
The Louisville Journal remarks upon the reduction of
that the result will be heavy shipments of those articles
by the lake canal route instead by New Orleans
The Buffalo Corning, and New York Railroad Company
in the market for the disposal of four hundred thou
sand dollars Of the first mortgage bonds bearing per
cent interest payable semi annually at the Bank Of Com
merce principal payable in 1867 These bonds will be
sold at auction Thursday, the 18th of May, at the
Merchants Exchange. They part Of one million
authorized to be issued for the purpose of completing
this road, and secured by first mortgage on
the entire road and its franchises by deed of trust to
John A. Stevens James S. T. Stranahan, and John A. c.
Gray trustees and convertible into the stock of
the company at par at any time within five years from
their date The road extends from Corning the New
York and Erie Railroad to the city of Buffalo distance
of 1874 2910O miles and will when completed, form, in
connection with the New York and Erie Railroad, Of
the most important and direct thoroughfares between
the cities Of New York and Buffalo and the Far West.
and will connect at Corning with the Corning and Bios
burgh railroad. being reaid with rail which ex-
tends to the rich iron COAL and lumber regions Of Penn
sylvana.
The running on twenty five miles Of the
road west from Corning and it is expected to have the
rails laid by the 30th instant for twenty miles further
when the will run forty-fv miles The road is
der contract to Batavia and it is designed that the
will be running the whole road in all of the present
year. The mortgage provides that only 100000 Of
bonds now be issued and the balance consecutive
portions of the road completed When the whole of
said bonds shall be issued the amount of incumbrance
on said road will be something less than 500 per mile
The amount Of the first issue 100000 will constitute
ncumbrance equal to $3.50 per mile upon the ffty-six
miles of the read which nearly completed being
less than the value Of the iron and land BY this
rangcment it is believed that the bonlholders will be
made beyond possibility Of doubt the property
# the Company being at all times amply sufficient to
indemnify them against any loss.
The annexed statement exhibits the quantity and value
Of certain articles exported from this port during the
ending the 18th inst distinguishing the destination
and extent Of shipments to each place.
COMMERCE THE PoRT OF New YoRK-WEEgLY ExPoREs.
Quantity. Taiue. Quantity. palU.
Flour bbs 0o7 s67S74 n stores bbls 1857 s13 2o2
OIL cake bbls 700 2Oj4 Cal bones bbls So los