The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-02-21

all Indeed, even here they feem q be but par.
TALLY and impe, fectly recognized. II capitalists
abroad or at home are willing to lend their money
in reliance solely upon the honor Of the borrower
that It shall be returned to them, 20 be 1t;
but let them rot be defuded with the belief that
they possess legal obligations capable Of being
enforced In court Of justice. Simple justice, fair
dealing, and common honesty, require that they
should BE- made to understand the precise nature
Of the securities which they hold, 80 that when
they turn to ashes In their grasp, they may have
no just occasion TO arIaign aught but their own
blind ceduity "a the true and sufficient cause Of
the loss Of their investments. If. on the other
hand, they 6esire, Gas we venture TO suppose may
not be urliksy,) when they place these securities
smopg their strong box treasures, 70 possess the
conviction that they are securities which the laws OF
the land will upheld and Its courts will enforce, We
trust that they win not fail TO become fully ap'
piizsd, m es entiL regulates TO that conviction:
First, Of the manner In which the law Of the
place Of the ccI tract regards and dsposes Of that
contract, if Is be usurious and second, Of the pre-.
CHE facts incident TO the contract at it, actual in.
ception tending to show either conclusivey or pre-.
sumptyely that the contra Il was made in violation
OF the ueury laws.
The President Of the Cumberland Coal and Iron
Company has submitted TO the stockholders the fol.
lowing letter from A. II. Sherman, ESQ., who, After
the most careful investg CATION and elaborate expert
nents, has given the result In as condensed form
as possible. The importance Of this discovery and
the vast interests involved, induces 10 give the
| report at length
| NEW York, Feb. II, 1855.
A. MuATFyY, Esq, President OF the Cumberland Coal
and Iron Company:-Sr-In complying with the request
20 visit the mines OF your company and ascertain the
facts in the rumored discovery OF valuable iron
the lands Of the company have the honor TO report
That Mr. +. Boodgood and myself left this city the
10Th Jan and arrived at the mines the following
hing; On the I'D, (onday,) commenced our nvesti
cations. Before pr ceeding however cannot omit to
express the agreeable surprise felt finding the coal
field, instead Of rough, mountainous and sterile
gon, presented gently unduatng surface OF rich sg
rcutural land BEAUTIFULLY diversified with patches Of
woodland meadows and grain fields for miles In extent
Under this pleasing exterior lies the great fourteen foot
/ VEN Of coal.
At the foot Of hin gentle slope, few yards from
the company principal depot and railroad station
companed BY the intelligent and efficient supsrinten.
dent, Mr.. Henderson, we entered the Eckhait mine.
After advancing few yards we entered the great vein
Of coal which lies Immediately bed OF dark slate,
sbse the whole neld preventing the angular feature
Of an immense trough, the centre longitudinally)
being curved downwards TO considerable degree like
| Of . corresponding depression.
Pursuing the main gallery. bearing 10 the left on .
gently ascending gsae We ex smined several thousand