The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-05-25

debt taxes ana insurance VI leaving balance
of e4s IS which has been applied to construction
The net income Of last year estimated at s72 000 it
reaches about $4,000; similar increase the same
length of road 1 piles) would raise the to s1lo
600 all expenses The directors believe that
their connections properly made the road will
net income Of the amount necessary to six per
cent on the old stock at par value.
The total cost Of the road up the LIST Of April 1853
net $3.50, 2l7 o5 which is represented as follows:
Stock original and preferred. $40 27S 40
Bpnus oZz,Z00 w
Dividends and coupons unpaid and miscel-
isneous ltems.... ...................... 3,S4s OIL
s254o,2,7 o5
mortgage for $3.50 600 covering the entire road and
equipment has been executed and the bonds bearing
per cent interest made payable in 1870. OF this $780,
COO is to be reserved to the Mortgage Bonds
ring in 1860 ard the balance $780, o00 with 500 900 Of
preferred stock remaining unsold. amounting in all TO
s4l9 COO will furnish ample to quidate the float
ing debt and the small amount Of bonds secured By
mortgage.
Two steamers of the line established between this
city and Baltimore by the Parker Vein Coal Company,
launched at Philadelphia yesterday. Two will be
launched next week, and two the week after This will
make the whole number afoat ten which will give daily
departure from each end OF the ne BY the first Of July
all the steamers launched will be in active commission
The four now making regular semi weekly trips between
the two Cities 60 and filled with freight, and are
doing very profitable business. The amount Of mer
chandse coming this way is great that the company
have been unable to bring any quantity of its coal
this market, and they will not be able go extensively
into the coal transportation trade until the line CON-
posed of at least fifteen twenty steamers By Seper
Der look for large receipts Of coal from the West
erpport district when its superiority that from the
Frosburg district will be fully demonstrated The Cum
berand Miners Journal Of the goth inst gives the
nexed remarks relative to the progress Of mining in the
Weeterpport section of the Cumberland coal region
The indications that in short time every availa
bic Of the big vein coal in this region will be in the
hands OF active working companies. Several
panies have been chartered, which intend to
operations in the Georges Creek Valley Among them
have already noticed the Ocean Steam Ship Coal Co.
whose valuable lands lie in the immediate vicinity Of
Homecoming This company. we understand will proba
the foot OF the Frostburg hill and organize their
tons ss TO employ the Chesapeake and Ohio Canal as
their chief to market The parties interested
only gentlemen Of large capital but OF great energy
and enlarged views. As soon their arrangements
completed they will weeel confident, make their mark
on the Cumberland coal trade.
In The meantime, the Baltimore aud Ohio Railroad
Company beginning, under the auspices Of the
They are steadily progressing with the second track be-
tween Cumberland and Baltimore having already laid
considerable amount of rails for that purpose They
have also recently turned out number Of coal cars
upd have. learn ordered $50 in addition to the 700
already in progress Of construction which be dis
trbuted pro rata among the companies At this time
they organizing train of coal to the
companies IN the Georges Creek Valley; and it is
almost certain that in a short time the Parker Vein
Iona conirg and swanton Companies will be accommo-
dated with reasonable amount Of transportation.
We have letter from Mr. Williams, Of Gold Hill.
n c.. which confirms the statement OF Mr. Goddard with
respect to Bordans AmalsamAtor, in every particular
Mr. Williams has ordered two machines forth with,
and states that he hopes have fifty working smutane
ousy before long.
The report of Dr. Charles Jackson, Assayer to the
State of Massachusetts, and the city Boton and State
Geologist to Maine New Hampshire Rhode Island and
the United States in relation to the copper mine the
North Carolina Copper Company created
excitement in mining circles and turned the attention of
capitalists to that section of country for the deveope
ment of its immense mineral resources. In conseq
of the interest exhibited in regard to the rise and pro
gress Of the North Carolina Copper Company, have
made liberal extracts from DR.. Jacksons report
NORTH CAROLINA COPPER COMPANY.
The mine owned by the North Csrons Copper Com
papy originally opened with az a gold
mine; but the copper pyrtes found to form
the original proprietor, to offer the mine for sale in New
York a copper mne and 1t purchased by several
members Of this company for the purpose of working
for copper
The unparalleled success Of the first mining operations
the production of profitable Of good copper
from the first shafts sunk and before any regular levels
had been excavated grade work begun Is certainly
quite unusual for il IL very seldom that pre-
paaory operations Of mining are repaid by the mineral
raised in those operstons but frequently assess
ments are called for the shares to pay the of the
work Not only has mine been worked without any
call upon the shareholders for money but considerable
profit is understood been realized the sale
Of copper raised from the shafts constructed the
On the 25th aud 26th Of April last made thorough
examination OF this mine, surveyed the vein and
found the rocks Of the country to be soft bright
eowish green talcose slate very analogous to serpeu
tine rock, OVERLAND BY variety of gneiss having horn
blende in the place Of mcaa rock sometimes called horn
blende gpefs-and underaid by fine grained comps ct
hornbende and eldspar rock analogous to greensboro
but still not in the form Of dixie but of regular bed
In the midst Of the soft alcose slate large vein
OF quartz panied with smaller veins of
the material The quartz veins ia the little shaft
A. form aggregate Of feet inches in thickness one
teng 10 inches thick another inches, and third
inches and those veins converge towards each other
they dip towards the whym shaft and appear to unite
with the great vein exposed in that shaft Copper py
rites occur sbundany intermxed with the quartz Of all
the veins
The shaft is sixty feet Deep and cuts the veins too
their outcrop TO be in advantageous positions
still there has been obtained from it considerable sup
ply of copper BY working down the slope Of the vein
toward The whym shaft Il.
The wb,m shaft sunk still farther on the slope Of
the vein but not far enough to allow of sufficiently
tended working of slopes grades 1t was therefore
decided by the miners to .ink shaft still fur
ther 10 the northwest order at ack the vein MT
depth Of about two hundred feet This shaft will be the
engine, or principal shat. Of the mine.
On descending into the whym shaft found that the
vein OF quartz IRISH in copper feet inches
thick and that its lower side there regular vein
Of clean copper pyrites foot AZ inches in thickness
The quartz vein itself full OF and bunche. Of
coppeA&re, mingled with small proportion of highly
crystslhaed tin white iron pyres. which has
not been ana 2ed but which probably contains arsenic
and perhaps cobalt.
The great quartz vein containing the copper ore dips
N. 25depees W. SO degrees the upper side, and 45
degrees on the lower side thus presenting opening Of
five degrees In the angle of the vein widening which
is too rapid 10 he other than local.
There is evidently tendency in the great vein be
vertical in its dip while shaft
dip is hut fifteen degrees om the horizon in the why
shsf b. 4S feet further ~ W. find the dip TO average
40 degrees.
tits very desirable that the lode should have more
vertical Dip for the work of mining much more simple
on erect veins since the perpendicular shaft work keeps
longer near upon the vein and therefore IL less
cutting required and fewer have to be sunk in the
levels.
The situation Of the mine IL such as 10 admit of ex.
epstve and profitable work as the levels are
on the plane OF the vein in the WYNN shaft and stope
ing ground IL TINS opened Meanwhile the engine shaft