The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-24
FINANCIAL AND COMMERCIAL,
M O n EY MAXI EFT.


ant. At the first board there were large sales of all
the leading fancies, and prices were little sitter
than at the close yesterday. Cumberland advanced
t per cent; Nicaragua Transit &; Erie Railroad /;
Harlem /; Long Island l; Reading Railroad !; Hud
son Railroad Il Phoenix /. The market closed a
little better than it opened and at the second board
the tendency was slightly upward The news from
Europe, by the Arabia, in the street before the
afternoon board adjourned but there was no visible
effect, Of favorable or unfavorable character BY
the last accounts, quotations of breadstuffs had adj
vanced fraction, while cotton had slightly de-
clined. The markets were moderately active. We
have no change to report in the London money mar
ket, OF in financial affairs generally The European
adyces, on the WHOLE are neither important nor in.
teresting.
The receipts at the Office of the Assistant Trea-
surer of this port to-day amounted to $l77 l37 o.
payments. $25.334 s-balance, $5,ls2, 1875 60.
The following were the importations into this port
this day.
Butter kegs. Beer-lO casks. Coal-lOO tons DYES
Sis per bark ss
brmstone casks sugar lead do argols 148 do. soda
Iishs76 bbls herring; 100 do mackerel 10 do salmon
Fruit, 634 boxes oranges; S97 do lemons;
monds. Honey-4s hhds., 81 terces India rubber-41
bags Iron-lo 1876 bars 3,24s bdls, 2s6 plates $3.50
insced Sat10 tons. Steel cases, 221 bdls. Sugar
Is bbls, 276 hhds spces-6,412 pcus pepper; II
boxes nutmegs. Tn-2,30S boxes tin plates: 100 do
terne do. Tobacco-100 bales.
heavy defalcation was reported to-day in the
Butchers and Drovers' Bank. The amount is up
wards Of sixty thousand dollars--equa to onetenth
the capital of the institution. The party implicated
has been many years attached to the bank, and dis
appeared few days since.
The racainta tho rlor, Do;,cooJ Co,.nouu
as follows, which show very large increase over the
same month last year; and this gain cannot be at
tributed much to the Albany travel being reduced to
one dollar, inasmuch as they did not commence run
ming at this reduced fare until the 26th ult.:-
January, 1853 s73. 100 &C
January, 1852. ..............,....4 5.749 55
ioiease' ..'''' ACKNOWLEDGEMENTS, $27 ,SI3 IL
Inc recent rapid advance in the market value of
lead and other metals has given great impetus to
mining operations. Some of the companies, lately
formed have been actively engaged in opening their
pest VEINS, and most OF them promise most favorable
results. Among the lead companies which have
commenced operations within the past twelve
months, tie Great Northern, of ST. Lawrence county
Is the most prominent, and likely to be the most pro-
ductlye. The st. Lawrence Lead Company at one
Time bld 'air 10 be good mine but it has complete
~ run out Ii the stockholders can be induced to
pay up another 'sessment, operations may be con-
unued for time longer, but with little hope of
realizing anything. Bad management, extravaganza
NC, have ruined it, The company own, we believe.
considerable landed property in st. Lawrence county
and efforts may be made to get up two or three
branch mining companies, with large nominal CAPT
tails, for division among holders of stock in the st.
Lawrence Mining Company. In this way by cut.
ting up its property, and making half dozen com
panies out OF one, returns may be realized but
unless some new system of operation in mining il |
adopted, very little will ever be realized on ST. Law.
renee mining stock from the production of lead ORE
The North Carolina Copper Company will sell at
auction, ON the LIST Of March proxmo, one hundred
>l0o) tons OF copper ore already received from thei
mines. The offer of $3.50 per ton, cash, from the
manager OF an extensive smelling establishment in
his Immediate vicinity, has been refused. This
company Las been in operation only a few weeks,
Ind upwards Of two hundred tons of very rich cop
per have already been brought to market. This is
ar III advance OF the Potomac and several other
companies which have been q much longer time in
'pera ton, and shows good management.
1t may do very we'll for time, for Wall street
pccula.ors to exhibit small samples of ore, and
epresent that it comes from an inexhaustble vein
belonging TO this company and that company, with
ut making any further progress in the development
f the mine; but is cannot last long. It may serve to
nflate prices, and enable the original holders to
et rid Of their stock ut enormous advances but it
ends materially to the injury Of legitimate mining
usress. Parties engaged in these wild cat mining
rejects apparently have no faith in the real bona
dc working compales-in those which are operated
pom sound principles, and go into the digging Of
re for the sole purpose of earning dividends
peculators who get up mining stocks solely for the
nrpee ofpntting them upon the community at any
rice they can get, dhc amount obtained, what
yer it is, being all proft,) have no intention of
'vrbng the VEINS ifany really exist, as represent
d. new company Is christened, nominal capt
Al fixed, SO many shares manufactured few
snlples of pretty good looking ore exhibited, an
supply represented to be where the
pecmcns came from, and they jump at once into