The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-20
FINANCIAL AND COMMERCIAL.

WEDNESDAY,, Jan. 1916 r.

WEDNESDAY, Jan. 1916 r. M.
All the leading fancies to-day are in active de-
mand but nearly every transaction at the first board
was on time principally buyers option. Erie Rail
road has been particularly active within the past day
or two at depreciating prices There are, however,
q strong party OF buyers in the market who can
manage the movement a good deal as they please.
1t is our impression that the stock will not go much
lower. There were large sales of Long Island Har-
lem, Phoenix and all the other coal stocks; Morris ca
nal, and Nicaragua Transit A new stock made us
appearance in the street this mornings it is called
the Chesapeake and Ohio Steam Transportation Coal
Company This is the first we have ever heard OF 1t,
and can hardly tell from its name whether steam
navigation, coal transportion, or coal mining, VIII
form the business Of the company. There was pr
vate sale Of 900 shares Of st. Lawrence Lead Min
ing Company, yesterday in one lot, at - per cent.
At the close Of the first board the variations III
prices compared with those current yesterday, were
triling At the second board, Long Island was In
demand at an advance Of IL per cent. New Creek
Coal went up per cent; Florence and keyport J;
Panama Railroad 1. Erie Railroad and Nicaragua
closed about the same.
The receipts at the Office of the Assistant Trea-
surer of this port to-day amounted to sl2l,42Z 6s;
payments, ST., ia 53-balance, s2944,iso 70.
The work at the mines of the Great Northern Lead
Compsny is progressing we hear, rapidly as pos
sibe; but in consequence of delay in receiving the
crushing machines the lead will not be in the market
80 soon as was expected probably not before the
second week in February. The superintendent
trustee at the mines writes follows, under date
Of 18th inst.:-
Gin driving the eastern end. at the Union Mine, the
to-day have cut into large lode OF lead better
than any thing have yet had. Ii Is worth $500
fathom The ore solid. but very it, The frame
of the crusher finished to-day, and the house Will
be done by next Friday
Some rich specimens have just been received from
these mines which placed for the present in the
Office OF Mr. Downing, So Wall street.
We regret to learn that Col James L. Curtis, who
has been officially connected with the New Jersey Zinc
Co.. since its organization in the spring of lS4S and
in fact, its acting President from that time until
now has rendered his resignation as President. to
the company Though contemplating this step for
some months he has delayed it until the affairs of
the company should be placed on basis of complete
success which we are gratifed to learn they now
are Col Curtis is entitled to great credit for the
intelligence energy, and enterprise with which he
has so directed the efforts of the Zinc Co. that it is
now second to no mineral interest in the country
During the century or more since the minerals OF
the Sussex region were first known, some twenty at
tempts have been made to turn them to valuable
practical account, and an failed until Col. c. and
his associates put their shoulders to the Wheel They
have raised an almost vauess property to the value
Of million and half Of dollars besides vastly in
creasing the value Of other contiguous mineral
interests In fact, they have placed New Jer-
sey in the front rank of mineral States
The Zinc Company have made all their large expen.
ditures for works, machinery, &c, for the manufac-
ture of paints and henceforward the company have
only to 20 on and reap rich profits The State OF
New Jersey has got the most valuable zinc property
in the world We regard the success Of this zinc en-
terprise as great blessing to man. 1t has secured
white paint, free from poison that must come into
universal use In this light, alone, it is entitled to
deep public interest. The exPresdent still remains
director and member Of the companys executive
committee His resignation Of the presidency, post
requiring much time, has been induced by the pres
sure Of private business. His acting place will be
filed to-day by the Vice President Of the company,
c.. E. Detmod ESQ.,, who is known as one of the most
intelligent and successful managers Of iron works in
this country.
In every statement now made, we find the full.
est confirmation that the Westernport section Of the
Cumberland coal field has the richest and thckest
veins. The Parker Vein and the New Creek Com
panys present the same accounts the former having
recently purchased on Georges creek, five miles
above the property of the Phoenix, and without
which they never could have made themselves what
they now are-a company Of credit and importance
The coal which win hereafter be introduced in mar
ket, mined from the fourteen feet vein, from the
specimens which have been exhibited will prove for
domestic uses much superior to any foreign coal I'M
ported. It has been frequently asked why the
Phoenix does not send their coal forward? The an
swer is, they desire to establish reputation, and
therefore prefer TO delay until they prepared to
mine from the fourteen feet vein, preferrng to turn
the coal of the six feet vein into COKE and make fire
brick from the fire brick clay found in contact with
the COAL For these purposes, and for furnace uses,
this coal will answer perfectly.
That there win soon be g large manufacturing
community established in and about Westernport,
admits of no doubt. Already have the Baltimore &
Ohio Railroad Company constructed on the property
of the New Creek, the largest machine shop in the
country, except that of the Erie Railroad Company
at Dunkirk To the Phoenix Company every addi
tonal enterprise involving the expenditure of mos
ney, must Of necessity, increase the value of their
estate. In the course of few weeks changes will
take place that will create much interest, and such
will be the attraction that the Potomac region will
be visited as source Of curiosity and investment.
The new company, called the Chesapeake, &C., have
their lands at the Of Georges Creek, between
Homecoming and Frostburg, about twelve miles north
of the Potomac river.
The receipts of the Cleveland, Columbus and Gin.
cinnati Railroad during the month of December 1852
amounted to $74,s54 As, against $37 ,654 "a for
the same month in 1851, showing an increase Of
437I99 so, being equal 10 nearly one hundred Der
cent.
The financial conditions and traffic operations Of
the Buffalo and Rochester Railroad Company at the
close of, and during the year ending December 81,
1852, were as follows