The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-07-29

prstion wss in July l. 1853 1881 28d so The coroo-
have hard further assets valued at S102 66d rns
balance 1886 205 A. will be the FINAL loss account Of
M. Quincy, without computing in;srest
Tie B.knap contract has proved more DISASTROUS Mr..
Beknsp besides being paid in full for his work. was
loaned the Of $500 900 also the c-eiit
Of the posAon for 500 600 aud further sum 81
500 600 paid 10 inish up his work making total
loss Of $500 COO besides loss thu assigned e,ui
The total liabilities Of the corporation Jdly l. 1853,
including floating debt and bonds due IN 1852 and 1885,
were IS 500 469 GA.
The balance Of second mortrags hoods not issued
snouns to s476 7o0 which with the asets c,osti'uts
the Of the poratioa which il is estinated
viii discharge the aoa,itg debt and the bonds due in
1852 ard 1885, leaving $3.50 COO to 5000 900 for renewals
inU ovenents. and other objests.
TIE from business durag dve from July
l. le48 July l. 1858 81 946 625 So aud he work
pg expenditures during the period ST. 1913 1877
S4 TIE net earnings $7iS 437 60; out Il which
Ing bali nce Of 500 s52 Is applicable to loss sccouns
berg nr fires and feshes, which last we're estimated 1t
The CONS from business pas year. ending
July 1858 amounted TO $685. 4a8 81 bling gain o. 3s
per cent on The ear previous The exoeo iiusss for
Of S252 63 2b to meet rent sad coupons ountas to
$sls GA so.
We the first report Of the North Carol Copper
Company This has been without doub. the most pros
porous mining company formed In this country,
1t has not yet been year in opsretiou and It's pro-
ductons have exceeded the mot tanguae an,icpstons
Of its strongest friends. If oneha Of the celebrations
pay immense dividends the capital invested the
present market value OF the stock.
NORTH CAROLINA COPPER COMPANY
There Ia evidently increasing tavo- shown, OF the
part of capitalists towards the great numbsr Of niaiDg
enter prises recently brought before the puoc.
To separate the good from those Of doubtful issue
requires good sound sctcs information relative to
develop Of mipe for there many that Offer
great Inducements for Investment whilst others be
regarded IS perimtbts
10 Epe land Il we'll known that Of all species Of mining
has
wbeD the companies have been managed with Ordinary
ability and the supply Of has halo out tae ac0mss
In country It is only about - years sinos
public attention dra towards the mines Of Lake
these companies successful operation, and payag
handsome dviden ds, While Others, being wroushs at
erss. sapesss, find difacsl'y n paying exosa. .s
has impaired tp tied semert for tho production Of
py.fsrous copper in the states Of North C.rona Tan
in The surerous belt where traces Of copper have
bee u known 10 exist
The oldest and most successful company for working
hes~ cupreous is the North Caroline Copper Compa
whose property IL situated in GuiIdord coanty about
nine u.iies from Greensboro
This company vas organized January last solely for
he production Of copper but did not commeocs opera
ions uD,ii March During the Interval sine asscs
res OF Weighing 800 lbs. ssch of which third
aid the Revere Works Botop and tbs remainder
Ia in aDstu TO thus city Apart from the production OF
ores, this company have made the most seal improve
the deveopement OF the several their
money to conduct their operations they have from the
fass OF paid their way and have mployed
surplus In the treasury besides paying for new @schlas
~, &c. This machinery will immediately be made avail
able to=srds working tho veins extended sale,
wher the supply of ore win be moro than quadraoed
Tho quantity ready for blasting out ID sble
whilst the surface there sevorsl hundred tons
waiting to be crushed dressed At the miners
taxing out six tons daily. equal to about fifteen
r.ls of No ore This small quantity will bring ths
treasury sufh ,ient, with what Is the way, aud
the ores srea6y sold for large dividend say by the Let
SpDf am, half hua
uch incree, ed, the company will be Ia ,essfu
operation With sa new machinery, and more perfect
dement's in regard to the transportation Of its
The machinery rent down will be completed for working
by tbs LIT Of August.
geoL eca ex. mpst,on OF the workable vens was made
BY PT6feetor jackson the 25th and Goth April ast
Dat Since tnsn the .tgs vein IN the WSym 'hsi n.s
part being exceedingly rich 10 clecr Copper pyrits
and full feet vide. This part Of tho vein has in
cresstd from inches to seven feet since De- Jack
pop'H report. The taken ont requires dressing
AZ frs the -id,h (beipg constantly tho ucrsase
the pany look for ward II the table
their property tits estimated from thai
~ least 10 COO tors Of No that will yed 80 csot
snd more pure coppe could be taken out OF ths 10
part This vein wi hin the twelve mouths rne
sb.ft which being opened designed to cut this rich
vein depth q 200 70 $50 feet according dip Ga
the upper side OF the lode the Whym shaft there il
itch quartz ven, measuring eight feet ia thickness
c.pAbie Of proc ucne 0o0 per ~
parts copper The productive capacity ~ those
be increased there is stopeng ground suf
X.
From the o'ner shafts very little has been taken
opt sing TO the want of machinery to DRAIN and
TO work. but can 30 wrought pro6taby a. soon
CINE Is up with the hostiDg apparatus, to clear
away az fact as the blasts sre put in.
| The lift A. which is nifty Fix fest from the Whym
shat nAs several veins all cODvargiDg towards the
vein in the Whym shaft capable Of yielding 4o00 toos
Of 50 per annually. The shaft G. which the
oporcps Of the upper OF shaft di coses tho
surface distances OF $40 feet. rne vein this
po,pt sc capable Of yielding 1000 tons annually OF
From The cop,panys experience thus far II Is quite
that ths whole Of the main vsin Oslo
'eet) COD aims an ,uexhsusibls supply Of this rich
mirtta having been proven fer distance Of oG8 feet
ID outhwe,terly direction, and II is uni kelly that
per veirs ma, be dscovs ed The question: than TO
esun Of the different veins will be found rather
| Ger thsn lber truc caoecity. 1t is BY
Jul .x'est Of their pToduotveosss; so large supply
wol 10 at once be felt in the price Of cooper ores
Ar has been before said the average daily yield, at
present, l. sx tors of No ore; this IL
beed Is in TACT nothing bat the basugs VIII 10 prepar
ing he nine for more extended operations or It may Be
raid hat efforts making 20 gardi work
tug fer additional pply Unul the engine Draining
md hftr apparatus aud mschicery for crashing
operation the miang free sill oil Ia
ire engine fhait Ia order to be prepared for the enoe
| and u Achirory.
Out Of .iIy first class miners not more thar eight
sye regularly empoy ed In underground k fer Of
power 10 Mt The other forces forty
eoond class mihsrs ADD frow forty to ay laborsc aud
boys III al hundred ADD dfty- hands enough with
the tsw machinery 20 take out and prepare for market
| CITY tone 81 No ] ore daily.
The annexed table, sho sirg the profitable results OF
COPPER niprg from p ritefe ores Commencing sta
IN toDs per day (be daily production II tn mtoe with
few bspds ts-s,sd by rude mschuery yes by horse
power ard Increasing The dsily yield TO 6fsy t,as the
ska esoat5 OF the coDpacy aio vinu th "a hun.
| dr.d ana thirteen working days TO the year will form
| toae idse q be prospects II this omps6y.
| @-Produoaom-- Fspe-ues 9f Co., Annual Dividends
| 7ons PER Tons per and al
| doy. AnUpm. Cost NJ Mining $3.50 per ton.
o 1913 $3l 700 SO per osat
10 3Iao 500 80
10 1895 s,3e 100
| 90 O. $50 le5 900 I6O
| 25 1895 la 600 200
| 10 $500 I58 400 24O
| 40 IL go 2I2 400 $40