The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-13

FOR customs. 5000 60
Treasury notes OBSERVATION-DISCLOSURES. 10 100 %
Balance .............6al All 1862 IL
Mr.. Chase attended meeting of the Chamber of
Commerce at two o'clock, called especially to give
him an opportunity Of exchanging views with the
merchants.
The course pursued by the Canadian banks in re.
deeming their circulation in foreign coin has in
duced the Chicago bankers to discriminate against
them, and at present the notes of the entire list of
Canadian banks are taken only at q discount of 2%
per cent. In view of the continued Inconvenience
and loss on the various kinds of currency in
use in Illinois, steps are being taken towards es.
tabshing banks in that State under the provisions
of the banking law which will go into effect on the
18th instant Under the provisions of this act the
circulation of all banks organized under it must be
secured by deposit either in United States or ILL.,
nois State bonds the notes also to be redeemabe
in coin, at their face, at the counter of the bank
which issues them, and onehalf of one per cent dis
count in Chicago and Springfield. Under these
provisions the bilIhoIder will not only be secured
against the possibility of loss but at the same
time have currency which he can convert into
specie at will.
The Chicago Tribune of Friday remarks:-
In monetary circles business was remarkably quiet
TIC supply Of currency fair but owing activity
the movement of grain and other produce, there
rather more inquiry for it, and exchange was shade
weaker The banks were selling at u per cent premium
Out 1t offered on the street at cent freely and
sold at par Canadian currency is taken the
anks at discount Of per cent, but parties outside
Offering to buy at per cent discount, In exchange
lor other currency II this connection would state
that the business community have unbounded confidence
heretofore in the Foundness OF the Canada banks AMI
he only reason that thor bills placed at discount
because they will not buy New York exchange II Mon
trcal at less than - per cent The money is unobjec
tionabfethc only objection being that taking dollar
bill you get only Csc.
At Milwaukee on the 9Th instant exchange was
seld at six per cent premium and the buying rates
are one half to one per cent lower. The demand
was light. The Milwaukee Sentinel says
BY an act Of the Legislature the banks exempted
rrUn the obligation OF specie redemption until after the
LIST of December The banks OF this city, and few in
ether parts N the state be II said To their credit have
refused to take advantage Of the suspension law and
very instance where their notes have been presented
have willingly redeemed them coin II not expected
that all the banks will voluntarily resume specie pay
mens-though such step, before the SUSPENSION
pres would certainly do towards Civ their
y VIDE ,, e ss;n a and thstele smove The
cnrse they could pursue-but it is beived that
rangemcrt to redeem their issues here in New York
change at One-egfdh quarter below the rate
would tend confidence the curl ancy out
ride of Tire State and therefore have tendency keep
Hown the price OF exchange.
The Boston Daily Advertiser of Saturday tisas
notices the business of that city for the past
week.
The prospects for the autumn trade more eneorag
sg, and confidence in the future is gaining strength in
numerical circles Exchanges w<h the West are eas,er
md large crops tbrougisu4 that section must be ex
changed tor goods. The foreign adv favorable for
the continuance 6 lasge exports Of produce at such prices
will afford faE profit 10 e producer Buyers have
ready appeared in the market with the means Of paying
on large purchases and indications favor the belief that
Inc ia business o. New Ensha WIN ye, compare iaTor
rhange The supply Of capital continues to increase and
the rates easier The number OF borrowers era.
,aily becoming less AMI the demand for basiness per
poses Is light Government securities arc IN quicker de-
lnand and advancing, which rs taking much q the Idle
rsitA out Of The market baLx specie So 43c 500 gain
4 $4,000
The Ontonagon Miner Of the sd,Ist furnishes tie
following intelligence relative &c mining matters q:
Lake SUPERIOR
SHIPMENTS OF COPPER -g4c amount Of copper shipped
from this pert by Willard Day-Amount previously
ported, l 1872 tons 1,is6 pounds
July 27-Ininok, Halloran. master-Mnnesots NINE. 40
song ?25 rounds; Rockand Mine z tons LAS rounds.
Superior Mine, ten 81 pounds
juy 30-Nor'h star, Sweet masier-AatioCai Nine. Is
Ices 525 pounds
JAZZ si-M.neral Rock Rider saster-Mnneseta Nine.
i5 463 pounds Rockland Nine, 80 tone 56l pounds
Srpers3r E,Le, tons $50 pocaas Toai. 800 oss 80
DQlIas
generally there being perhaps much or more heavy
copper il the lover levels, especially N the LIZ than at
anv rrev ioys time But the man show m prominent
rct ia IL the cxtrerA western eIt OF the level the
souh lode where a strong YEN OF some three feet n
width la: been driven through lhe past month The hFs
est mass yet mined FROM which weens ooe pounds bat
there a much greater proportloss 20" exposed n
the crown Of the level The portion exposea : propahy
feet 10 length, and twenty inches thes AID 10 IS
found Just ina, character OF vein that Usually pro1lces
copper naGra. as well as agreeable 70
tc,rate semetliag OF tins ORDER when u s ne1 Tds
level It VIII be remembered, is ender the ad hence us
lo,,th VOL az
caIpef tound 10 tie same vein u the Minnesota fully
warrants the belief that SIMILAR results VIII attend the
progress Of openings 81 The RocS!and
SUPERIOR e Superior is fast regninng the prestige
whch TIE sock ct,aiEed when TIE company was first
crued oG ,o again during the period occnpied IN oret
Rg The miGe the south vein We do not. Of COURSE
refer TO the market price OF the Stock as tEat 40 rrte
by winch Judge Of any n'ne yielding such fruits as
the Superior has for the past two years The vein
wi! not, rerLaps, average 20 inches in wldh
aud the drift aad slope thus the past monhs may REACH
but Will moi we brk exceed an average oil four fathoms
height Est mating The eugiL Of this opening al 800
feet have 200 nihoms Of ground broken, aScrding
yield of forty five tens o. nearly 10 per cert mineral in
mass aud barrel work alone. AID estimating TIE stamp
rock on hand to yield o ions more we have 30 tons OF
mineral 35 tons Of ingo copper the product Of the
NINE for mat percdeqaa 70 aooet $50 lbs OF mineral
to the cutie iahom OF gfcuud broken Now. when s
rendered that this Product was cCtans1 ra.ter from
opening than working the mile-.hsi came frem
zonta line OF so iatloas ia length b. ieisht the
veIn and at level OF some 220 feet .bov. TIE yasy oi
Ia Flint Steel river, u WILL suggest be Cots derea
yer y remarkable yield Cd copper
Annexed IL an official sta!eEeI; Ct he move.
mcnts ut the State Treasury CT Ca.acrE:a Tor the
year ending June 30 ls6l;--
balance on le.,d June 80 1860 ...... s55a ass 81
Receipts July 1850 TO June 80 Use! 2a2 y. SO
Total, sls3glfa %
Expenditures july J. 1850. TO zee so 1851
Curreni es renses ....... SSsb lO5 05
Interest D state debt. .'''.. Il : $50 %
Redemption Of bends. .....,,:... os,t42 .
Purchase OF bopus fer schoci t.laa lb.o'V ~
Cance,rg Stale prison ecntracer' -'o'ovo 10
- fae2 600 5.
Balance sn hand irre 30, 1861 $l6e,+s3 10
Estimated feg>;p,s Jaiyl TO pec 81 troei 100000 %
Total ............~... 1859 453 10
Estimated expenditures July 10 Decciap
81. 1891 -
Interest on state debt .......... 1850 ~
- 100000 90
Balance on hand reccmber 81 is6i..... sl69,is5 ~
The following statement shows the average con-