The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-08-24
MINING PROPERTY.

rom The BoatOn Post, august ~
The improvement in the feeling respe citing copper
stocks, Noticed la-t week has bec1 continued And
even increased. Sales have not been large for tho
supply, atqnotatons, has been quite lni.ed; but
the demand as been steady and active duriag the
week. The offers for Toltcc. lilo Royale, Copper
Falls and Pit,sburg, in particular, have not been
satisfied. Winthrop and Algcmah are also in De-
mand, with come desire TO purchase on time, at
handsome addition to last offers. Forest is exceed
bgy scarce. The following embodies tae lstes. in.
telgerce from this mine. It comes To us authorized
by toe managers of the company.
Acc UNITS from The Foie continue to show a yegu-
Ter aud STEADY yield copper fem the vein wh,cn
row opened 20 large xtent. The shipments from
June to August /, amount to upwards OF so tons,
principally barrel and mass copper. This noun.
VIII be considerably increased before the close Of
nasisatcn. TIE new stamp works, arranged Co work
~ leads arc expected be in operation this month.
The stock of this company amounting TO 1000
shares, l. mostly neld for investment by those who
are familiar with the value of the property, aud
but little comes in To the market. Toe near CON-
pietion of the extensive improvements which have
been In progress since spring, aud the productive
character Of the ven, give that the turn
OF another year will show large ana profitable re-
suits.
TIE Copper Falls Company has now in view the
erection OF some newly inyented stamping aud wash
ing machinery, which is likely to make the next
years produ OF their veins at least three timcs as
much as could be expected under the old ~ -.sHn
Twenty four hee0s of stamps are no ia operas,on,
as lew engineshsft can be procured. rhe evi-
deuce Of the effectiveness Of tue proposed ne ma
chnery Is very strong. and we learn t1at the com.
parry can obtain Il on favorable terms, the p-ymeat
dtpendttg upon its perfect success. Each Set sill
cost about $40 000 II is proposed to ecc; four sets
as soon as practicable. The whole will stamp and
wash about eight hundred tons Of metali.erous rock
mobshy.
The rise in the Tolec stock is not unex ,ected to
those Who arc corversant With the quality and ex.
tent OF the vein. Several thousand shares in an ex
ceecr gly stringent Market were taken by weak
parties. These have now fallen into strong hands,
AID those sho have been compelled {, sell at lo~
rates find difficulty 10 replacing their shares Tao
stf OK % en- abused Ia the market, and any quau
tity Of alsehood told respecting it, Tie pre- sent adj
vance Il one OF inevitable reaction the true value
is becoming understood. II is entirely Sc ,arate
f N shy favorable financial turn, which ncce ssrily
improves every species OF sto k property. The
To'tec Is now worth much more than whsc il vas
token rapidly at 49, It has cost its Or ,sen: ma kct
price, and It's ultimate success, as prohtp syiog
mire. Il now assured. Another year will proLNtly
gee it payi epses and the year after will bring
II to a divided p<irt
TIE truth is that our capitalists have shamefauy
neglected, and os grea. extent are neglccti0g,
even now, the wonderful mineral resources III our
country: Not to copinc our remarks 10 copper
inning IN tarti' ulsr, VIC have many coal, iron
ahd gold mine, that properly wr ought would yield
very large returns. Ono tcuth part OF tho money
:. a. has been Ated BY car men OF means on I'M
the S:uth and West, during the last ten yesrs.
would have developed suiiicicncy Of mineral re
aources to give Boston yearly income or millions
OF dollars. But capitalists regard mining enterprise
rs unsafe and speculative, because from their yp
tgrornpce and backwaidness some OF IL his been
by falling into the hands Of the ioiu.
dtc.ous OF usprircipled. TIE rmsdy for this par.
tlal evil Of course, is the infusion OF csntion, Wis
dom end integrity into tie direction; bat instesi
Of taking hold boldly Of mining concerns applying
The remedy and taking the pfo0 9, our capitalists
ere apt to stand sfar cf. and wnen they learn Of
some large but not unusual success 10 mioing, tbcy
are content to bold up their lands aud roll NJ their
ryes In establishment. and then tn siak. before,
handsome percentage Of their principal ia .
asbioDable factory OF railroad.
They ienoraDtly regard any great success In min
nF a. being a. purely accidental - Q throw Of
'dxes" at backgammon. But tho truth Ia NOS ~,
md de only reason why real mining success appears
b iostuitous r. that many d those entes prises
re mimanaGed, while the sbares In then, la the
airy stage q devel0pemens. 40 made The subject q
Iess cpscalaaiea hy the0 Who hATe nos theas reA