The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-12

largest portion Of the shipping season, the rates were
much higher than those of the same period in the
previous year, when as it will be recolected, great
competition was maintained. During the last winter,
however the charges twenty cents per ton less
than for the like period and early spring Of the pre-
vous year. The present rates, which win be MAIN
tanned during the winter twenty cents more than
those Of last years and is estimated that an increased
profit Of at least 900 will thus be obtained.
The cost Of transportation, as compared with that
of the previous year. exhibits the following results,
viz =
On coal l6l00 cents less per ton.
" Merchandise 62-l00 do. more per ton
Passengers l8 24l00 do more for each through
passenger.
The cost Of hauling coal, including the repairs Of
machinery, has been diminished 1870 cents per
ton, while the expenditures ON the roadway have in
creased $41 63 44lOO less than two cents for each
ton transported. This has been caused chiefly by
unusual expenditures on the wharves at Richmond,
for dredging the docks, &C., and for an unusually
large number Of stills used it being the eighth year
since the second track was laid.
Thomas Morton, John Stanton, and John L. era
tacap were to-day elected trustees of the ST. Law
renee Lead Mining Company, for the ensuing year.
This movement must have very favorable influence
upon the market value Of the stock. The stock
holders will now learn the actual condition Of the
companys affairs, and may rest satisfied that the
working of the mines will be upon the most econo-
mical, scientific system, and that If there is any
actual value in the property, it will be speedily deve
loped. Mr.. Morton is practical mechanic and ma
nufacturer of long experience, great determination
of purpose high integrity Of character and indomi
table perseverance. Mr.. Stanton is practical miner,
and has devoted full thirty years to mining operations
in England He is probably one Of the best mining
engineers in the country and will for time devote
all his energies to the arrangement Of the affairs Of
the st. Lawrence Lead Company. 1t is our belief
that the election Of Mr. Morton and Mr.. Stanton has
more than doubled the intrinsic value Of the stock
of this company, that it will place the stock
at once among the highest on the bankers books,
and be sought after by those who sold out during
the administration Of the old board Of trustees The
public had no faith in the old management, and the
stock has for long time been much depressed. The
first act of the new board will be personal examine
ton of the company's property in st. Lawrence
county, An investigation OF its finances will follow,
when report will be made to the stockholders of
the actual state of things. There is no in our
anticipating the nature of that report, but those in
terested may rest assured that, whatever its COM
pexion may be- it will be entitled to their entire con-
fdence We have heretofore said great deal about
this ST. Lawrence Mining Company, and have fire.
quently condemned the policy pursued in its man.
agcment Our object ever has been to preserve the
mining interest of the country generally from being
injured by scheming SPECTATORS who looked moro
to the market value Of stock than to the develope
ment of the resources of the mime. Most rapid pro-
gress has been made in building up the business Of
mining, public confidence has been, in great mea-
sure, reinstated, and any and every set Of men
whose acts either from ignorance, or any other
cause are calculated to injure or destroy this
growing feeling in the community, should be at
once condemned, and such measures Immediately
adopted as will take away their power to do harm.
Losses arising from one badly managed mining COM
pany have tendency to prejudice the sufferers
against all such investments, and they will, perhaps
never touch anything Of the kind again. Well man
aged there probably is nothing that pays such high
dividends as mining stocks. In Great Britain these
are great favorites, and will continue So There is
no reason why they should not be in this country.