The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-06-26

thuBdering o cannon from shOfe. AT O'CLOCK
NJ. the day, they reached Pesth and the recop
ton. announced bv telegraph, was amid the
oicipgs Of the population No doubt the ceremonies
will be very brilliant. All the higher Hungarian
nobility will be gathered there. The procession Of
Corpus Christi viii be held there on the 10th in grand
raa Prince Paul Esterbazy the author of the letter
against Kos nth which made much noise, is said to
have had new Hungarian costume made tor that
son which has cost 20 600 forms exclusive OF ornaments
General Won Gerstner has been appointed military
ander Of Vienna in the place of General John kea
per chosen chief Of the Superior Police The former is
al.o made commder of the gcndarmery, but under the
latter as General Inspector.
quantity Of California gold sand has reached Ham
burg. IL il intended for mineral cabinets.
At single audience given hy the Emperor before
leaving for Hungary, eighty petitioners were admitted.
J. G. Z.
The California Gold Mining spscuiations
I'm London.
from the London Times June Il
As every reux Of the tide leaves behind 1t few shells
to mark its course SO 1t fitting that every violent cx-
citemcnt of the speculative spirit should bee ueah to pos
erty memorial Of the IL has caused and the
mischiefs it has DONE We just recovering fron the
feverish excitement induced 10y dreams OF imaginary
riches be obtained by working Californian gold mines
Having title TO dspe the illusions Of the pub
words OF the lessons most prominently taught by
recent experience. II is abundanty clear that mere re-
spectabity in directors guarantee for the
or even the soupdness Of an undertaking. Men OF the
greatest respcctablity and ~ undoubted talent
will in these matters suffer them TO be gulled by
the e1ossest and transparent fees and thus be-
come in their turn the Of quilting and misleading
others 1t is also obvious that in determining the value
of pecnniary investment the ordinary rules for
tanning the weight OF testimony cannot be departed from
with mpunity Witnesses deeply interested in the
suit persons who cannot be submitted to examination,
and whose character and station are wholly unknown,
ought not to be relied where their testimony Is
roborated Ifand to be purchased it ought to have
qured of their existence These things are so obvious,
that it almost ridiculous to state them. and yet
very few gold companies have been formed within the
last half year which have not violated more of
these precepts Capital i raised purchases made,
expenses incurred and then, last OF the inves.
tgation which should have been made ir,r And Jnots
and precipancy reward sYaton of these and SINH
ment Epr9 we beg call attention to the prospectna
and proceedings of the Aqua Fra Mining Company
The prospectus. to which prefxed the names of
most respectable trustees directors bankers
solicitors sets forth that the company is formed under
the most favorable auspices known that the mine
is held under lease from Colonel Fremont by Messrs
Palmer. Cook. Co.. bankers San Francisco that il has
been most carefully examined surveyed and tested on
behalf Of the essees by competent and trustworthy
sons whose report well that Of the engineers shows
that il contains enormous quantity Of gold Of the
richest quality that specimens Of the estimated value Of
upwards of $4,000 have been dcposed with the companys
bankers by the lessees their good faith
guarantee the performance their part Of the con-
tract and fund to pay preliminary expenses that these
specimens are proved most concluyey to have been OBJ
tanned from the mine il question and that upwards Of
thirty tons have already been raised and ready
for crushing that the value of the quartz rock est
mated at about e. 400 por The directors pledge
themselves that far the strctest and search.
ing inquiries could extend they have satisfied them selves
Of the existence Of the mine Of the respect ability Of the
and the The directors
also. among whom two eminent lawyers state that
the title of the lesses has beer fully shown
Who wonder thar such statement, omanoting
from gentlemen Of undoubcd character and respec.a-
blty should attract the notice Of the public. that the
shares should be all subscribed for and speedily rise TO
premium Of two hundred per cent And yet, incredible
may appear there + not Of the statements
have enumerated which has stood the test of experiences
not one in fact which the best information We can com.
mand does not lead TO dsheeve There appears be
mine in California known by the Of the Aqua fa
The gentleman, Dir. Hepburn who vas sent out on be-
half Of the company unable to extract from Mcsrs
amer 20 amy precise recognition Of the authority OF
Mr. Wright the partner who had negotiated the sale OF
the lease AZ his first interviews and when this difficulty
was in some degree surmounted they admitted they did
not know precisely where the mine was which the di-
rectors after the strictest and most searching in
curry assert to have been tested by competent
persons behalf Of the lessees. Messrs Palmer
& CO.. 1t necessary to hunt for the pro-
pcrty in question. and after some search the Aqua
Fra mine or what believed to be the Aqua Fria mine
discovered NJ spot called Childs Mine This spot
in the possession of person called Child, and other
squaIers prepared to defend il against all In
stead Of thirty tons OF auerous quartz some ten tons
Of surface earth We're thrown up quality unknown 1t
has been said The company has nothing TO do but buy
out the squaters bat when this operation has been
effected there is proof that the vein is worth working
There appears also every reason to believe that Colonel
Fremont had no sufficient title to the land in question:
and that even If he had he had no title to the gold
Never there in this world such batue Of promises
and professions The directors took the word OF the
sellers and their agents for every particular Of the bar
gain. and were In every respect notwithstanding their
professions, completely deceived In the meanwhile,
corres ondtnt in California ne heard of the
formation az this ard other cold companies addressed
letter Ia m in which be pooted out tho nature
Of such specuations Nv way of counteracting the
effect Of this communication meeting of the com.
pany held, at which Mr Wight. The negatiator of
The purchase Of the lease made speech in which he az
serted the validity of Col Fremonts title and the fact
that the spot except by his permission lie
to give bonds to any doubling shareholder
for double the amount OF his shares II the Colonies title
not held good He also offered TO give every share
holder two pounds for every pound he had invested
in the concern The meeting passed vote OF thanks TO
Dir. Wright, which was, OF course the only remunera-
on he received for this rhetorical effort me orator de
parted and no more We have felt u our duty
"a make these statements in order 10 MAKE the share
holders and the public in general aware Of the worthless
and unreaty of the golden visions which have been
paradtd before their eyes Nedo not however wish the
matter 70 be taken on orr assertion Let the shareholders
Of the company look intot Tor themselves Let hem not
be content with vague dcnals and general conradic'
uons Let them cal upon the directors 70 produce the
reports ron MI Hepburn, ana on those reports
let them form opinions Tor Themselves. We nave