New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-11-12

Tot b.es and ma
REM,RKswWe have to notice decline Of c y ts all de-
isSeh at sIa0c, ayeragins go y b. the quality being
sufficiently good to satisfy the wants OF the rsr Total
changed
Messrs Beck l. Co, whose failure was announced
some time since, have, we hear, compromised with
their creditors at 10c on the doar-payable 4Oc. on
or before the LIST of March, and 30e. in eight and
twelve months thereafter
The Baltimore american states that the gross re-
cepts of the Baltimore and Ohio Railroad for the
month of October Lave been very large, exceeding by
about go 600 the receipts for September, which were
s4J9, $40 lS.
The United States Trust Company has purchased
100000 of the Milwaukee and Mississippi Railroad
Company's First Mortgage Bonds for the Sinking
Fund of that Company.
Since the frat DEVELOPMENTS which were made byex
permeral analy showing that the Coal of the Brock
inridge Company contains large amount Of ol suitable
for illuminating and lubricating purposes, we have
watched with great interest the progress of these expert
ments Of traly national importance, as giving new
impulse to the development of the mineral of
the country and establishing the fact that we have
within ourselves an inexhausbe supply ofght, to be
obtained with far less the expense, and labor, aud
danger than the animal oil in use. The whale upon
which We now depend for OIL is rapidly being driven
by the energy Of our fishermen into inaccessible seas
and will before many years at the present rate of de-
structon entirely sappear BY the discovery of the
presence of true Illuminating and lubncatng fluid resid
ing in certain descriptions of coal we have become in
dependent of such misfortune, and the whole whaling
fleet might be laid up to rot, and should still have
light.
The production of oil from coal is not new dis
covery but the discovery of coal beds in this country
of character to yield a sufficient amount OF oil to
pay the expense Of extraction has but recently been
made In ScotlaI the Boshead Coal has for several
years been used solely for dstilaton being far too
valuable for fuel The oil from this coal is used upon
the English and French Railroads, and the demand is
always in excess of the supply Railroad managers
prefer it to the beet sperm oil. 1p Nova Scotia there
is another deposit of coal at the Prince Albert Mine
which also yields good quality Of OIL and these, with
the exception of the Breckinrdge the only localities
yet known where the coal yields sufficient quantity
of oil to pay the expense of manufacturing Since the
experiments Of the Breckenridge Co. were made with
such a successful result the whole country has been
explored for o-bearng Goals but thus far tho expert
men,s have resulted in disappointment. No coal has
been vet found which could be made TO yield much
than one half the results of the Brecknrdge and of
course could not come into competition with it.
When the announcement WIS uIst lndue OI the ue
veopments in regard to the value 81 this coal for dis
lation the statements were rdiculed as incredible;
but the practical working result has if anything, ex-
cetded the anticipatons excited by the preliminary
experiments The products Of the coal ore purer, and
the quantity larger The purposes to which they
be applied are also numerous.
We have taken mp this matter at this time to show
The public what has been TIE progress of this Com
PAW during the last six months and what may be ex.
pectod for the future. These results Of manifest
public importance, as marking the advance of new
branch Of industry and an entirely new development
of the mineral wealth cf our country. When the ex-
permeps with this coal had fully satisfied the parties
engaged in them of lis great value "a oil producer
a Company was at once formed, under the manage
ment of the Messrs. Cairns who made contract for
a series of years with the Breckenridge Coal Com
pany for supply of their eoal, and commenced putting
up works Cor manufacturing oil at Cloyerport KY the
shipping port on the Ohio River of the Coal Company.
A. the works approached completion, and as the great
value Of the Brecknrdge Coal for oil purposes became
more thoroughly established, it was thought TO be the
best policy fx both parties to consolidate the Coal aud
OF Companies, which wGs accordingly done. Exten-
sive re-yroof works have been erected at an expen
durc Of 10000 capable of containing thirty retorts
with tie necessary tanks stills, e. for refining the
crude o. OF these twelve setort have been in opera
ton for some months and the remaining eighteen are
ready The operations Of the Company have been very
much embarrassed by the unusullly low stage OF
water in the Oino River, which, By entirely suspend.
ing navigation has detained the additional still. Of
tie Company at LOui,vle, and prevented the ship
ments Of oil TIE CompSDy have now on hand 5000 ]