The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-18

MINING ConANIss IN NYw YoRx.-Tbs bris
notice which We gave of the FIRST organisation Of
mining companies in London, has created cons-
derabe talk and conversation in Wall street. and we
may expect soon some Developments Of the pro-
cress which similar associations and speculations
have made in this city, and particularly in Wall
street, and away all round about the country, in
every direction where money can be got and SUBJ
scriptions picked up.
We understand that there are five or six Of these
companies organizing in Wall street, or that neigh
borhood, with capitals of from one to two hundred
thousand dollars, divided into shares Of fifty or
hundred dollars each. The principal operators Of
these companies consist of clergymen, philosophers
politicians, spectators, returned Californians, and
others who want to get rich in short time, without
ever going to California, enduring the fatigue of
taking look at the mines in person. number Of
advertisements issued by these companies, and
spread all over the interior of the country, and
east, with the view Of picking up by means Of ira
yelling agents, subscriptions, and procuring the sale
of stocks. Some are called the Sonora Gold Mining
company; others the Manhattan Quartz Mining
Company; and we suppose plenty Of them ought to
pass by the name of the 'Buncombc Gas Mining
1t appears, too, that one of our cotemporaries--a
parsonage well known in philosophy and finance, if
not in foolery-Horace Greeley-is secretary Of one
Of these companies, which is called the Manhattan
Quartz concern. This company is located in the
Grass Valley; and the grass Of that valley is, no
doubt, very green 1t is said to have rich and
tensive veins, and wonderful machinery, throwing
out the gold in any quantity.
The organization of these companies in this city
will interfere with the building associations, and
similar speculative operations, which are starting
up in all directions around us. No doubt many Of
these associations are got up for mining purposes in
this city, London Paris and elsewhere; and if they
happen TO get into the hands of capable, intelligent
men, and are conducted on scientific principles, they
may be made very profitable and satisfactory to the
stockholders The aggregate efforts, also, Of all
such associations, must produce great effect on
society and commerce.; but in all such periods Of
element, societies will start up side by side with
well conducted ones, which entitled to anything
but confidence and support. The mania for copper
mining, which broke out few years ago at Lake
Superior, must be very well remembered Many of
these associations were well conducted, and were
productive of much benefit to the members but a
vast number Of them were got up for Buncombe and
ended in humbug. Now, with respect to the Man
haitian Company. of which Philosopher Greeley is
Secretary and Treasurer, he has heretofore tried
many curious spccuations, such as establishing
phaanxes and Fourrierte associations, and all sorts
| of schemes in copper mining, coal mining, tin
mining, zinc mining and now gold mining-in
fact in every kind Of mining except mining for brass
and we suppose the philosoph is satisfied that he
has such stock of that metal on hand that he does
not require to dig any out of the earth for his per-
sonal supply.