The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-08-17

81 SOL
IT will be by this that the exports last week were
areT than during the week previous but the increase
has been in shipments Of specie The shipments of mer
cbandse for the second week in August nearly two
hundred thousand dollars less than during the first week
Breadstufrs continue to form the bulk of exports
as previously noticed. Cotton has for some weeks past
been Inactive which is the Of the limited value of
our weekly exports As the crop comes for
ward in larger quantities the shipments will increase
the influence upon the movements Of specie likely be
Of the most favorable character One vessel has sailed
Australia during the last week She carried out but
small cargo the value being less than five thousand dol
lars Our foreign trade at present does not bear very
favorable aspect, and 1t will be months before the
balance will be at all equalized During the month OF
August importations usually large and cxpor
taticns usually small In about three months this will
be reversed when shall rapidly quidate any foreign
balance which may accrue against u.s. Under existing
circumstances the shipments Of specie to Europe are very
small
Under date of the 2lst July the directors Of the Cum
berand Coal and Iron Company Of Maryland made their
first report to their shareholders 1t will be found in
our advertising columns and viii repay an attentive
perusal: This company organized months ago
out OF the fusion of number Of smaller corporations
propietors OF large portion of ths great Cumberland
coal BASIN OF its capital Of 600 600 the company has
s in its own possession 81 500 600 Of stock and
debt In these days, with borrowing cor
poratons 1t is refreshing to contemplate company Of
this magnitude conducting its business without owing
money and without apparently intending to create any
debt. Its independent situation may partially account
for little having hitherto trappred about its aairs
This corporation, familiary known in the Cumberland
coal district as the monster company having got into
it, hand all the property and legislative privileges
anita II, IN, .lya
known to them very theoretically for its
own benefit. The public, at any rate those who buy
Cumberland coal, gather, from what is most
fully said in the directors reportand from what is
tudously left unsaid-hat The companys profits must
be ample to warrant good dividends this stock but
Why, under these circumstances, there is immediate
Jorge increase in the mining and delivery Of article in
dtmand and Of great profit, is left unexplained
The remembrance of the many disasters which have
oyerakcn weak borrowing associations from prematurely
crowdiDg this kind Of business may well de-
lay In developing mining property until careful and long
tried experiments have determined the most saving ways
Of proceeding But the cautious old merchants and
baDkcrs who ST in management of the Cumberland COM
paDy and their agents here and in Maryland mostly
men Of long experience in COAL Before the fusion Of tho
old associations many Of these parties had been for years
proitaby engaged In his very Cumberland business
70 that We are inclined TO think the holding back of the
directors arises not from want IF experience blu. from
protracted negotiations for securing from the cal.
ryng companies more favorable terms for tolls and
freight than they now have for nsurng greater cheap
OF facility OF working other part OF their ma
cLinery before augmenting their production Of coal II
Il also said that there scarcity OF boats for freghting
their coal but We should think with the surplus means or
the company and the known enterprise Of boatbuider.
ana workers this scarcity would long exist At any
rate the directors having the power to remedy this tenn
roray deficiency, al cost much smaller than the loss
Of profits which will ensue in from Inadequate
forwarding facilities cannot long excuse themselves
they DO not use the power and provide the boat, them
selves, If the public attention has not been sufficiently
surrfd to this quarter to impe Individual enterprise
into this channel
Tbs stock Of the Cumberland Company has very re.
Gently been introduced nto the Brokers' Board It has
bitterly been selling 10 DE street at prices ranging from
GO TO ~ ~ ce@i anl We bellows the parties who
arc ~ f.31snfed win the conpaDys affairs are the
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