The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-05-25

Indemnity $4,000 co. Total, Sis, 536 "a.
The Boston Board Of Underwriters Friday last
cuded to insert the clause in all marine policies is
sued hereafter The form generally used by the Boston
underwriters is as follows
Warranted by the assured, free from any loss or ex
pehse by capture seizure restraint blockade condemna
ton punder waste or destruction by any power per
and also from loss occurring while under deten
0n restraint excepting loss by barrary Of the Master
Of Marines, provided in the policy any stipulation in
this policy to the contrary Notwithstanding
The president of the vallecello Silver Mining Com
pany, of Mexico-Mr. Reynolds his recent report to
the stockholders makes the following remarks relative
to the productveness of mines, and the feeling gene
rally entertained regarding such investments They
much to the point and applicable at the pre-
sent moment to the position and progress of this impor
tant interest that give them at length tits full time
those engaged in the pursuit Of mining had this vital
question presented to them in a proper light Dsap
pointmen has followed disappointment; all sorts of pro-
misses have been made, and frequently broken. We
do not mean to charge those who have made them with
the intention of deceving for it is belief that it
the result of ignorance than design; but wish
to patience well exercised by those
interested and there need be fears to the ultimate
productiveness Of our mines
nm told II il usual 10 make estimates OF the returns
that mines will yield, and especially that these
sary inducements for the investment of capital am
also told that disappointment begins to tread very
closely the heels OF promise in many OF these enter
prses ut the present time. that IL should
be soa Have men any right TO expect in
mining than they have in other important business,
without employing tie proper means, guided by the
quse knowledge and experience Is this the fault Of
the rich mineral deposits in which country is known
| to abound? Or can any deny that in every country
where mining Is lceitimatey followed, it is Of more
! during profit than any other PURSUIT. II merchant
to FIJI his store with worthless and unsaleable
tcles bought without knowledge and without reference
TO value would he strange that he should do losing
businesR and would his failure be any why pru
| dent nan should no, buy and sell merchaniseY In
II MI tAr fnnc VIII
ht,c knowledge have this subject has been acquired
during the past three years and where the first everish
excitement always attending any new leading pursuit
has long since subsidized and passed away the first expen
diture in proving the character Of a vein is always
deemed lottery, with less chances of
and with them II is the only lottery. Nor do they hest
tate when the character of the vein known to expend
any required amount however large to put IL in
cessful operation, and deem the time short II
rlisheG in three years They then paid for waiting,
generation to generation Nearly all the brilliant for
uues aud great landed estates the republic the
hands Of descendants OF mining families: The English
who are bully miners, expended two millions of dollars
in restoring and putting in order the Boono's Mime, be-
fore they got any returns. There have been single years
since that time in which the bullion produced equal
to the money first expended. In restoring clearing out
and repairing The ontworFs Of the great Ia Luz Nine
ter tie revolution $500 expended before any
returns This mine, during The last six years, has pro
dnced many millions net profits. The Real del Monte
gives to its IToprieors at present nearly two hundred
here or elsewhere properly orened and worked if it do
not Jay good div dend on capital Of million.
mcnts in the United Statess The answer unfortunately
is 10 be found in the undenabe fact that 10 too many
instances the proper means have not been employed
location made or tract is purchased having out
cropping vein upon il; an excavation IL made tho
vein, for anything under hundred feets after all but
excavation few fine specimens Of are procured
and forthwith company is formed. Onehird, half
or even twothrd OF the stock is dvided between the
owners or gettersup whole fortune is given away for
selling the scrip ton two OF is hurried to the
market and sold OF auction as pies OF what is
coming; tho stock is thrown on the market with an
II OF al
J beautiful gosn@ al inratence, all hurry; new, in
adaped aud untred machinery sent out the stock rises
in the market 1t quoted every day at tie board; and
men, without much inquiry, knowledge, experience
Iuy-beoaue IL is so cheap and expect TO pay ninety
Gays note from the proceeds, by selling when it
reaches par and the result is, that time passes along
and, 90 matter Of course, disappointment follows, and
someboJy huds worthless piece of scrip in his porto
No. representing an inerest in mine which, after all,
had II been really properly opened properly worked,
might have yielded very fair returns II not brilliant
\ fortune for all concerned
Nor Is the inventive genius behind the mining spirit Of
| the country | inoN lot how many quartz crushing
machines and matchmaking apparatus each the very
beat e2bauiLng the whole subject have been produced
great problem indeed, for the gold crop that they
have attempted to solve IL may already solved and
tie result 70 the mining interests Of the country
will nc what Wlitneys Gin las been TO the crop
ntcnGcd for silver mnesand the oxides az the ircn
lro'a necLincry sLa not be found OBSERVATION-DISCLOSURES
ti1g lesS foo9Crous, less expensive recurring less mo
tive fowor, fna which may be increased in number as
the weitf q the mine require should be aimod at.
! ie@ experiments small scale may be enconrar-
RS, but they not sufficient What signifies Atty or
one bundled tons n quartz pat through machine
must perform aeeiy similar task fall short Of what
prtnfeoY 9he aualgamators, too, have sprung, like
fhetya LON ne lead q Jupiter, into perfect maturity
az 81 gle bound In silver ores amalgamaton s
Chemical rather tlaa mechanical process ami requires
much practical exger.ence. do no. speak u gold.
Why. Go moi hesitate 10 say, that t1he any Of our
eminent professors who really able and learned men
and place them in Mexican hacienda full or with
every appliance around them, md they Wnul not, IN
aided succeed in extracting the silver Give them time
and Practical exreri,ncc ara fhcr success may be bril-
liant. How Il T. possible therefore that il great min
14g eUFtfYff q n suddenly