The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-12

that new era is dswning upon n, and that the same
system which has developed the mineral treasures Of
Cornwall win be successfully pursued here. We
are strengthened in this hope from watching the
progress Of the Great Northern Lead Company, now
working their valuable mines in St. Lawrence county
in this State, and from which we anticipate great
Suits They have been, for several months past pur-
suing quietly the business Of legitimate mining-that
is, by putting their mines in regular working order,
sklfully and Systematically preparing the necessary
measures for proper development of their richness
so that when they commence supplying lead its re-
gularity may not be interrupted by any contingency
against which care and foresight could guard. This
has been done, too, without soliciting any aid from
the public, the whole of the stock having been pr
vatey subscribed for, and the capital actually paid
in, as appears by the affidavits of the President
and Directors, filed in the Office of the County
Clerk Of St. Lawrence county in accordance with the
requirements of the act of the Legislature In few
weeks the results will no doubt be manifested, and
one of the greatest achievements in mining accom-
plished that this country has witnessed namely:
the mines were examined, long lease Of them
obtained, company formed, the required amount of
capital paid, and the whole affair placed in regular
working order-and the public knew nothing about
it. Wall street was in comparative ignorance; and
even those who are generally the most forward in
such matters-whose names were always supposed to
be a " tower Of strength to undertakings Of the
kind-found themselves on the outside, and of no
consideration because the gentlemen interested
determined that there should be no deceit, no con-
cealment Their money was risked in the affair,
eAol 30 re,
alone.
Now this state Of affairs, in one instance, affords
grounds for the hope that it may not long be the
cepton to general rule; for, should success reward
the enterprise and spectators discover that mining
stock need not Of necessity bea fancy stock
in fact, legitimate mining business will pay-they
may be induced to make virtue Of necessity and
60 honestly to work. and thus be the means of pro-
noting the great mining interests Of the country
instead Of retarding them by encouraging sham and
humbug operations and operators.
The Superintendent of the New Creek Coal Com
pany's mines writes that he has discovered new
vein of coal, of five feet thickness, at point below
the six feet ven on which latter this company has
made its openings and that the coal is Of the most
superior quality. The six feet vein was estimated to
contain over fifty millions Of tons Of coal and the IA
yorable location of the newly discovered vein, SO
near to the level of the Baltimore and Ohio Railroad
will add some forty odd millions Of tons to the supply
and this without drawing upon the upper veins (Which
include the fourteen feet vein also on the lands Of
this company 50 that, supposng the draft upon the
mines amounted to million of tons per anaum, the
supply would undoubtedly last for centuries. This
company is now we learn, in complete readiness to
forward coal to market, and for time past has
only been awaiting the convenience of the Baltimore
and Ohio Railroad in adjusting the switch connecting
their turn out with the main line As this is the only
Virginia company on the line of railroad now in
working ORDER it would be no more than fair that the
Legislature of that State sensitive on this subject
should require the railroad to furnish equal facilities
to place upon the market the coal Of Virginia as are
now furnished to the coal companies Of Maryland.
Were this act OF justice insisted upon by Virginia. its
bearing upon the New Creek Company may easily
be appreciated.
meeting of the stockholders Of the ST. Lawrence
Mining Company was held on Thursday, the 18th
inst for the purpose Of hearing the report OF the
trustees, and desising ways and means to exricate
the financial affairs Of the company from the embar-
easements which have so long surrounded them. The
general statement presented at this meeting was as
annexed