The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-25

the StOCk MARKET mas Deen TOO rapid. Inc move
ment is, we fear, premature, and operators must
look for reaction.
The receipts at the Office Of the Assistant Treasurer
of this port, to-day, amounted to $l44,OSO 90; pay
ments, s25,359 Is. Balance, $7,l04,279 81.
There will be large sale Of stocks, by s. Draper,
at the Merchants Exchange, tomorrow, (Friday,)
halfpast twelve O'Clock, Immediately after the ad
journment of the Board Of Brokers. Among the
stocks to be offered are shares of the Empire City,
East River Shoe and Leather, Citizens, Knicker
booker, and Farmers and Citizens, of Williams
burg banks, and of the Commercial, Lorillard, Hano
YER Howard Life, Continental, and Nassau, of Brook.
lyn, insurance companies.
The North Carolina Copper Company will sell at
auction, on Tuesday, the 5th of April, through S.
Draper, two hundred tons Of copper ORE similar in
quality to that sold few weeks since. The compa-
ny are actively engaged in getting out the ORE and
will shortly send fifty more miners to the mines. It
is estimated that the production Of copper ore during
the summer will be equal to three hundred tons per
month. In relation to this company, the Raleigh
Register of the Esd inst. says =
We understand that the mine becomes richer as the
workmen 90 down: Between the different tunnels or
slopes cut in the ven there ascerained to be cop
per sufficient to bring into market million Of dol
lars. This sounds like astonishing yield and
liable of the correctness of the estimate.
And yet at the bottom Of the last and deepest shaft the
TO vsusbe beyon pr.csdn IL
annals Of mining In this country.
The report that the New York State Canals would
be opened on the 18th Of April is without founda-
ton. No time has been decided upon; but it is
scarcely to be anticipated before the Goth or 18th of
April
The Legislature Of Massachusetts, has under consi.
deration a proposition to change the time for the
payment Of notes. Or rather, alteration of the days
of grace. 1t is proposed that whom the last day Of
grace falls Sunday holiday the note is to be-
come due the day after instead Of the day before as
at present 1t has received the sanction Of the House
and will probably pass the Senate.
Among the applications fled with the Auditor of
the State of Illinois for new banks in Chicago, we
notice the following: Branaganta Bank, CAPT
tai 50 ,OO0, 900; Garden City Bank, 100000; Ex-
change Bank, $l,OOO,OO0; Butchers and Drovers'
Bank, 81 0OO the Bank Of the People, $500 900;
American Exchange Bank, s5OO,OOO; Farmers
Bank, $50, 900; Merchants Bank, 100000. Appli-
cations have also been made for bank at Boards
town. capital s. 900 OOO at Iinoistown, S. 900 900;
Pekin, 81 900 0oe Decatur 81 OoO,O00i two at Peo-
ria, 81 900 900 each, &C., &c.
Of the last fiscal year 5000 $50 sc; the 10th
Of August, 1852, the total 50 9Ol 1856 66-showing
an increase Of 81 ,165 900 since that time.
The Miners Journal Of the 18th inst, (the last re-
ceivedD represents the following statement Of the
coal business Of the Frostburg section Of the Cum
berand Coal Field, by which it appears that the en-
tire trade from the first Of January to the week end
ing the 18th Of March, did not exceed 2s,473 tons
and if we may estimate by analogy from the last
weeks business it is fair to presume that the Cum
berland Company did not contribute more than 5000
tons, equal to 30 per cent the whole period of ten
weeks thus the week ending shows that there were
cent from all the Frostburg companies, including the
Cumberland Company, but s,54o tons, Of which the
Cumberland furnished 1852 tons, as follows To
the Chesapeake and Ohio Canal, 40 tons, and to
the Ohio Railroad, 1852 tons. We would now ask,
what foundation does such business afford for max
ing dividend on capital of SIS 900, 900, and paying
interest debt Of 81 900 0O0-taking the calcula
ton made by the report Of the company, and allow
it to be correct that their net profit per ton was 70
cents not one half Of which is believed to be profit
inasmuch as the company have moderated the cost
Of mining and bringing the coal to market.
The annexed statement exhibits the production of
iron in the United Kingdom OF Great Britain during
the year 1872