The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-09-18
svHHKRcIAL AFFAIRS.


MON e N n X EFT.
FaspAv. Sept Iy-sP.M
hesS Of the ransaotions In the stock market to-day
were for cash. Prices were firmly msinssasd and the
demand for Tho leading ncies was quite active At the
frst board, NicsrHsuA Efansls sdvsnced per cent?
Morh Canal, II; Cumberland Coal, X; Long Island X;
Reading Railroad, X; Hudson Railroad x; Norwich and
Worcester, y. North American Trust destined per
cent We notice tbs sale Of now xino stock to-day At
the board. It u called the New York Zinc Company.
The sale was ct Ave per cent. We are disposed to
aid q much possible the establishment Of bona fde
mining cempaaies-shose conducted upon proper prin-
cplesfor No believe there Is immense field for the
profitable employment Of capital in developing the
mining wealth Of the country; but We are de-
odedly opposed to everything in the shape Of
deception, whether in mining any other department
Of industry. Within the past two years full dozen
thriving conpenies have been formed in this city and
vicinity, not one of which has yet shown result
Most Of them doing well and will doubt sooner
later make good returns bat before the public are called
upon to I'LL the capital stock Of companies it would
be well enough to wait the Development of those in opera
ton. The Great Northern and the St. Lawrence Lead
Companies of st. Lawrence county, NJ Y; the Ulster
Lead Company Of N. Y; and the Canal Copper Com
pany of Maryland tho New Jersey Zinc Company,
and the Montgomery Zinc Company, of New jersey
Pennsylvania, all in active and we believe most sue
cefu operation and until each Of these become
firmly and thoroughly established 1t will be difficult to
put Others on the market. We be too cautious
in this movement. Jadiciousy conducted the mining
interest Of this country be made as productive as
that Of Great Britain, and there is no reason why
it should not be. That we have inexhaustible sup,
plies Of the most valuable minerals in our immediate
vicinity, there is the slightest doubt /; but we
want experience in getting out and can only acquire
it by slow degrees. If make false step now,
il win put the movement back months perhaps years.
and il is therefore of the most vital importance that
anything 10 the shape Of mining company which is at
all suspicious should at be exposed and placed in
proper light be fore the community.
Cumberland Csai stock was in demand this morning
at the improvement in prices. The issue Of stock
will all be taken by the old stockholders at seventyave
per cent AS this issue fills up the capital there will
be- without doubt considerable competition get it, It
would be the best policy to give the old stockholders the
privilege of taking the new issue in proportion to tho
old issue standing in their at the closing the
books. This would be fair aud avoid favoritism Nj
caragua in demand, but only about four hundred
shares sold. There is very little doub. but that
this stock will command better prices North Ame
rcan Trust we hare not much confidence In. 1t auc.
tustes so suddenly and largely that operators
second
board the market active particularly in Nicaragua
Transit prices for which well sustained Reading
and Harlem advanced u per cent each.
The receipts at the Office of the Assistant Treasurer
this port o-day amounted to ST. o2o payments,
SS7, 500 49, balance $6,733,253 rs.
There moderate demand for foreign exchange this
morning for remittance by the steamship Arctic to- NOR
row Saturday. for Liverpool The supply in the
ket Is good and present rates well sustained We
quote bills on London at 1Ol 10s per cent premium
on Paris Sc 1881 ST. 1875 Amsterdam, Al All; Bre
men, 70 1914; Hamburg, a6l $685. The Arctic will
take out between three and four hundred thousand dol
lars in specie
The whole amount Of bids for the three million Penn
syivania Railroad oan about ten millions Of dollars
The loan is to to $780, bears six per cent interest
and issued in coupon bends Of 600 EACH convert
BILE into stock at any time before December st. 1880 It
Is stated that the whole bid for by Chas H.
Fisher at premium Of go conditioned that should
be awarded the whole loan As there bids
for sums not less than the whole amount at higher
premium difference of opinion was entertained as
to the right and proprety Of the company exercise
any discrimination in accepting the bids. On full
sideration, however, the loan allotted above
stated the company considering 1t the best offer made
The road two hundred and forty eight miles long,
Pittsburg, single track Of which cost twelve and half
miens Of dollars Of this sum- nine millions have
already been expended.
At meeting Of the Board Of Directors OF the Suffolk
Bank held this day, Mr. Il d. Foote removed, and
Mr. John W Rumsey appointed director In his place
Mr. II. NJ. Taylor also removed from the Office Of
cashier His successor will be appointed in day two
This removes all the internal difficulties Of this insttu
tion and its business viii probably progress smoothly
and we hope pro6tably.
The annexed statement exhibits the quantity and value
foreign dry goods entered at this market for consum
ton for warehousng and Withdrawals from warehouse
for the week ending September 16, 1852
MOVEMENTS FoREIGN Day Goops