The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-13
QUOTATIONS FOR MINING STOCKS.

The market value of certain mining stocks has ad-
vanced lately very rapidly but the transactions have
been limited. We are disposed to believe that the
improvement is not altogether bona fde. The views
of the holders may keep SO far ahead of purchasers
as to prevent real transactions and those made may
be solely for the purpose Of creating market An ad
vance in prices, in the face Of active demand has
substantial basis but such is not the at pre-
sent in mining stocks generally. We have no desire
to see imitation in mining stocks to extent that
will produce much speculation or much excitement
in the public mind for the reaction would prove
decidedly injurious to the real mining interest of the
country, and its progress much retarded. We are
anxious that the mines should be fully developed as
rapidly as possible, and their resources thoroughly
understood by those who purchase them for tempo
rary or permanent investments At the present mo-
ment, not more than half dozen companies, out Of
the many presented, have been sufficiently worked
to give any guaranty Of profits, to even moderate
extent and our advice to capitalists and others is
to be cautious and in haste. Those who originate
companies get stock at prices low enough to justify
great risks but it would be better for outsiders to
invest in such concerns as have been proved and no.
found wanting in the raw material, than to take hold
of doubtful companies at prices three, four and five
hundred per cent above what is called scheme rates.
1t must be borne in mind that the copper mines of
Lake Superior are most extensively worked; that an
enormous outlay Of capital for machinery, is requir-
ed, and much time expended in their deyeloPcment;
and that even with this, the result Is not always
satisfactory. We have copper mines in our imme-
fate vicinity that will prove much more productive
and profitable than those of Lake Superior. The
North Carolina Copper Company has, thus far
exceeded eveE the far famed Cliff Mine Of Lake Sa-
perior 1t has sold in this market, within the past
two months four hundred tons of copper ore, and it
is estimated that about three hundred tons per
month will hereafter be marketed. The Potomac
Copper Company, Of Virginia, will soon have its ore
In the market. 1t is similar to the North Carolina.
The Dollyhide copper mine, near Liberty Frederick
county Maryland, is said to be yielding largely. OF
1be fifteen fathoms already excayated, the average
value at the lowest figure, is from $50 TO $500 per
fathom At present, the vein is so exceedingly rich
a. to yield from $500 to $500 per fathom. This
goes far ahead of anything in the Lake Superior
copper region The Carroll Copper Company OF
Maryland is working the same vein as the Dollyhde,
with similar results. II is our impression that the
copper mines in this section Of the country in States
bordering ON the Atlantic, viii not only pay much
better than those Of Lake Superior, but they will be
productive at much earlier period. As temporary
Or permanent investments, they are, therefore, much
more attractive.
The annexed statement exhibits the tonnage OF
vessels and goods which passed through the Cana
dian canals in each of the past three years distn
gushing between the up and down trade ::
CANAL COMMERCE OF CANADA.
Wetdnd
1851. 1852 1858
V DOWN. r.p.." = $4,000 COLOR $4,000
down 5s7,1oo 772,eaa soi,le;
ST. Laurence
NATURALIZATION. 2ss, 100 45o, 400 4e2,575
image OF all vessels up
lad down. 4co,1so 5es,2io $685.
ChonJly and S. 0urs Lock.
y mage Of proper y up and
image Of all vessels up
and down. .....,..;..;,.. 1920 eo,Cei s2,eis
Burlington Day
dowS......:............ 54os7 6s,lOs 754il
Tonnage Of all vessels up
and aown............... 47s,e9o asi,9lo 55S,22l
81 ARas Lock
iV down ...........'... 5as9o los,eaa sa,o5i
Tonnage Of al vessels up
and down...........ss'. i~soJ- lV@fsVi iVoio4'
The gross and net receipts for tolls, for six years