The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-28
FINANCIAL AND COMMERCIAL.
MON EY MAR X Il T..


MONEY MAR K EFT.
MONDAY June 27-6P.M.
There was quite active demand to-day for the Lead
ing fancies at better prices throughout At the Hrst
board, Erie Bonds, 1871, advanced per cent? Horlz
Canal. X; Cary Improvement II Canton Co, x; Cum
berland Coal, y; Erie Railroad, Il Harlem, az Hudson
River Railroad y; Michigan Southern Railroad q Read
ing Railroad, ~ The two leading fancies the market
to-day Nicaragua aud Erie, and the sales Of each
very large The former has for days past beer
considerably depressed but Is steadily but slowly
covering The improvement in Erie Railroad since thu
recent decline, Is caused by active demand from the
shorts Independent Of this class Of buyers have eper
ated to extent in anticipation Of favorable
ton. In this they may not be disappointed. for ad
vance usually follows . great and sudden depres-
sien. would, however, be the best policy
to realize fair profit when it can Do made.
Erie cannot stand long at present prices, in the
face Of prospective difficulties Nicaragua Transit stands
in a very doubtful position. There . good many
shorts and everything depends the ability dis.
position of purchasers time take the stock when
due, and hold it. By Withdrawing twenty thirty thou
sand shares prices may improve is the impression
in the street that the stock will be taken up and
tired for time from the market In ether stocks there
has been of consequence Norris appeared
to be looking up. Parker Vein closed firm at quota
tioDs. Cumberland Coal more buoyant, but it in
with difficulty maintained. The transactions lately have
been limited The European advces considered ia
vorable both In a commercial and financial point OF
view and they have had good effect the different
markets.
The receipts the Office of the Assistant Treasurer Of
this port to-day, amounted TO $106 100 payments,
So, 75S 5i-balance, So, 467, Ot494.
The mortgage per cent bonds of the Chicago and
GalenA Railroad Company we're sold at the followins
prices
81 o SIS at 81 So SD 900 at o. 25 $40 GOO at o. CO.,
1890 At IS 81 81 SS at :ss g.
$4,000 at e5 IS; S25 600 at 96 25 $25 600 at 80 IN
$1,000 At $500 teal g, ssls CO. averaging % h1 s per
s64 COO. The successful bidders Messrs stachau
4 Scott, w. y. o'Brien, wadsworth Sheldon George
smith, Clark Dodge Co Joseph H. Swift J. f. Garner
and Charles r. sebor.
Tie sales at the Mining Board to-day follows:
SO shares Ulster Lead; * so shares hccaIoek Gold
$50 do McCullock Gold Ga
At the close for the McCullock, 6l bid, az asked
Great Northern Lead IA bid, 8ss asked; Potomac, III
bid, asked; North Carolina, 10 asked; Lake Superior
Land Company, bid 50 asked; Fulton, IL bid, Ia
asked. Several letters In town from the McCuock
mne speaking in glowing terms Of the richness and
tend Of presented Those who have visited the mnes
from this city have returned perfectly convinced that
there is not another mine Like 1t ON this side Of tbs
Atlantic There plenty Of buyers but few sellers of
the stock.
lew banking Institution called the Island City Bank
has been organized By the elections Of James o Bren
President, and Geo H. Nichols, Cashier. TIE capital
is $500 00o the first nsament which OF ten cent,
will be payable the 18th of July The bank win be
located the of Cathnrine and Division streets
and win commence business on the lat Of August.
We have received prospectus of the Dolly copper
mine, of Frederick county, Maryland. After careful
of fta NIT
have arrived the conclusion that 1t ia OF the most
favorable projects which has for long time been pre-
scented. II is not thing The mine is situated i'm
frederick county, Maryland about three quarters Of q
mile east of the town Of Liberty twelve miles from Fred
erck City, thirty from Baltimore and nine miles
from Monrovia the Baltimore and Ohio railroad. The
exister Of copper in this locality has long been known
In 1S46 the mining privileges Of the farm which the
mine is situated leased to Isaac Tyson Jr who has
rs ced the vein for continuous distance Of hund
feet finding copper in quantity 10 all parts Of it. and dig
grg several hundred tons Of ore which yielded without
other eparation than the hammer fro fifteen
to thirty three per cent of copper The vein worked
extends and i'm proves say for distance Of thr three
eet down. digging for another purpose showed it to
be forty feet wde about fifty feet from the tht, and
there certain indications of It's existence for double
that distance in the direction Large masses Of
have been found the surface, ooe weighing
$500 lbs and yielding forty per cent and others, barge,
but of smaller dimensions, OF the same productveness.
The earth about these contains three cent
and upwards of copper; aud the whole from tbs
vein may be put pile without separation yielding eight
to Thirty three per cent On the upland the green
carbonate, lower down IL In variegated-the cl;wt
pdndche of the French Thus far the existence of the
has been proved for hundred feet there
yeany to suppose that they not to be found
much extended All the surface Indie atoms fav
orabe to the idea that the below must very
In of the drifts quantity Of silver lead has been dis
covered yielding on analysis from forty-6ve to fifty
ounces TO the Of In this drift the vein contain
ing copper appears uar five feet wide and has per-
feet foot wall At the end Of the drift at this time the
copper occupies about two feet and is worth several
hundred dollars per fathom The cost of tating the
to Baltimore where extensive smelling works afford
constant market, "a per ton via the railroad from
MonrovA and the road brings Cumberland coal to
the station which tho return deliver at the mne at
cost Of not more than "a per ton In all
company has been organized for working this mind
enegetcay and scientifically under the following board
Of management, viz President Isaac Tyson, Jr, Of
Baltimse Secretary and Treasurer, Richard Norris, J
Baltimore; Directors Baynss, Of sedsn; withsrs
Co. Washington; Geo. w. Norris, Baltimore; Joseph G.
Wilfon do; Alex. D. Kelly, Jr do; Charles H. Pitts,
do The company have purchased the farm containing
262 cres on which this mine Is located.
With tho now made and In propress n