The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-20
FINANCIAL AND COMMERCLAL.
N f. Y NJ LAR x f II.

Il
At the opening of the stock market this morning there
active demand for all the leading fancies, and
prices slightly improved. Nicaragua Transit went up
per cent; Pennsylvania Coal Il Cumberland Coal Il Par
ker Vein Phoenix 81 Stonngton 4; Hudson River Rail.
road Il Michigan Central Railroad II Panama Railroad
4. Erie Railroad declined Z per cent Potomac Copper 4.
AT the second board the MARKET generally not
firm but there considerable inquiry for Of the
fancies Cumberland fell OF K per cent Nicaragua Tran
sit - Hudson River Railroad improved q per cent; Par
ker Vein Il Northern Indiana Railroad e. After the
board prices stiiened little and at the close the ten
dency slightly upward.
The receipts at the Office of the assistant treasurer Of
this port day. amounted to $685. 800 70 payments,
500 2e-bsance &c. ISL 91S 72.
The Illinois Railroad Company have called for the
enth instament of five per cent the subscription for
four millions of construction bonds.
The President Of the American Exchange Bank of this
city has received the folown letter from the Director
of theint in to inquiries relative to the
coinage law.
PROVISIONS OF TIE NEW COINAGE LAW.
MKT THE UNITED STATES
PHILADELPHIA April IA, 1888
sR-In reply to the questions Of your letter of yeser
day have 10 present the following statements, relative
to the operation Of the late laws the operation of the
mint
The additional charge and above the deductions
heretofore customary will be six cents per $780, for the
preparation Of ingots gold II deposit. be collect
coin instead of ingots the add iona charge
the former rates will be fifty cents per $780, The advan
tsge receiving bars coins will equivalent
is to be employed for export for purposes other than
speculation think it will be found economical not to
speak Of other advantages for deposors TO demand
2. You ask whether, if coined at the mint can the
proceeds be paid at the sub treasurers Office In this
New York; city. | presume you to ask whe
ther the bars be paid although it is improper
bar In reply, have to say that there is nothing in
present laws authorizing the receipt or redemption,
than at the mint of its issues whether Of bars
of certificates of deposit On the organization of the
assay Office in your city, it will be petent to depoit
there the bars issued from this mint, for which the
they e at ts e to the Da
for coin, and paid the terms just mentioned.
3 With regard TO silver separated from gold the mint
practice of paying in gold by consent Of the Treasury
department changed by the late director who, after
regularity. The dollars pail for silver parted are, of
course at premium, which the depositor may realise,
fixed price Of 81 q per say4 per cent premium.
Your fourth question is not very clearly understood
but presume you wish to inquire whether the mint
fcates Of the net value deposts must be issued sngy
for the total value wheh might divide them into
convenient say of $780, 800, $500 &C. the aggre
gate of which should equal to the total In reply
have to state that there authority for the latter
course suggestion asking for such authority
made in Mr. Corwins treasury report Of 1851 but not
acted on.
g. The charges at the mint would not be varied by
reason OF amp private melting Of bullion Nor
will there be any practical difference to depostors be-
tween deposits at the proposed assay Office at New
York and at the mint. There will be the charges
at mint in New York. The difference to the govern
men will be- that instead of procuring coin for the pay
will be necessary from time to time to transmit the bull
lion here, tor manufacture; but this in manner
affects the deposors.
Any further information explanations which you
may desire, shall be happy to furnish
Very respectfully: your obdt serv't.
4. VI. PETIT, Director
Ilprn bo q Uo,.,
Thursday, at O'Clock, Of Berdans quartz crushing
machine This is, without doubt, the ne plus ultra Of
crushing machines and advise all those interested in
mining to attend at the Novelty Works and Judge for
themselves This machine is called the Improved Gold
Quartz Puyerzer and Amalgamator, and invented by
Mr.. II. Berdan, formely Of Chicago The operation on
Thursday will be made with tanes from her machine
or the refuse, that which has been thrown away as
worthless This will be fair test and, il successful will
opel all doubts if any exist relative to its efficiency.
The Delaware division Of the Pennsylvan Canal will
not be in navgabe order before Monday The water
has already been let in but in consequence Of an acct
dent, navigation is interrupted for few days.
TIE Bank Of America of Washington, D. c., has closed
its business Its outstanding promises pay will be
deemed at the agencies Washington and at Stracham
4 Co.'S, Of this city.
The steamships Parker Vein and Westernport, belong
irg to the Parker Vein Company arrived at their dock
this morning, from Philadelphia They will load mms
datey with freight for the Baltimore and Ohio Railroad
In the Of a couple of weeks, two steam
ships belonging TO this company will be put on this
route, and by the first Of September the line will CON-
prise ut least dozen first class steamers 1t /, the in
tenon OF the Parker Vein Company to construct fifty
two steamers for the reighng business between Bat
more, Alexandria, and New York, and the amount Of
merchandise passing between these points is SO great
and so rapidly increasing that active employment will be
given to the whole feet fast they are put in requ
son. Twelve steamships will give one day from each
port but this will not begin to meet the demand for
transportation
We have received the prospectus of the Fulton Mining
Company, OF Lake Superior Fifty thousand shares of
stock have been issued at 50 per share The par value is
SO per share. Tho prospectus does not say what the
capital IL but presume IT Is $500 900. We do NOT Ike
the organization OF the concern and have very little
faith in its successful operation There may be eaven
enough in the competition TO save IT, but parties getting
4.