The New York herald., 1862-05-17

Leaving profit above valuations off,. O6u
1t will be remarked that the 7.30 notes and the
per cents of 1881, Of which the bank holds
So 800 000 set down in the above table at par
whereas they are really worth over per cent pre-
MUM. At the market prices Of the day the profit
made by the bank on its investments in public se-
curities is over three-quarters of million. The
greatest credit is due to Mr.. Vail for his admins
tration.
We learn that the Warwick branch of the Erie
Railroad, running from Chester to Warwick,
twelve miles, is finished The outlet of this branch
road is Newburg, Piermont or Jersey City. To
make it very productive it should be carried four
teen miles further, penetrating the great mineral
region of Sussex county, New Jersey. The frank
Unite and zinc ore are now carted ten miles to the
Morris Canal or the Morris and Essex Railroad, at
an expense of two dollars per ton. The amount
expended for carriage for the limited business now
done is about thirty thousand dollars per year, and
with the increasing demand for zinc paint and
franklinite iron it must soon double that sum.
Newburg is deeply interested in the extension of
this road. It would cause number Of iron and
zinc furnaces to be erected near that city. AS the
franklinte cures both red and cold short quatiesn
other irons, the amount that might be used on the
NOllH ElNcI WOuu sOOH TtdCu Ouc uuuuIcu tiOu-
sand tons per annuni. The Franklinite Steel Com
pany, chartered by the Legislature of New Jersey,
free from all personal liability has been organized
by the appointment of James L. Center as Presi-
dent, and George w. Savage as Secretary. The
transfer Office is at No. 81 William street. The
company at present are manufacturing frank.
Unite paint, for painting iron-clad steamers,
tin roofs, iron railings and bottoms Of wooden
vessels. 1t has been for six months on the
paddle wheels of ocean steamers without oxida-
tion. It is said to galvanize the iron, destroy
the worms and keep the bottom Of the vessel clear
from grass. This company, 80 soon as the requi-
site capital is paid in intend to manufacture the
franklinite iron for gunboats and armor-plated
men-o -of-war. II is believed to be the best article
ever run through blast furnace.
The business Of the Sub.Treasury to-day was as
follows:-
Receipts. 81 l16, 1853 So
FOR customs. ...................... 131 900 %
payments.. 1,2a. yi5 ~
baiancs. ~
The exchanges at the Bank Clearing House this
morning were s25, ,634, ,25l o., and the balances
81, ,SS5, ,445 81.
The earnings Of the Erie Railway for April
were -
1882 As
l0ol.. 04d,ltA VI
-
Increase. ............."........ $5S 5S1 45
The statements Of the banks of the three princi
pal cities Of the Union for the last week compare
with the previous ones and the corresponding time
Of 1861 as follows--
looms. Deposits Spacie. ri,c,i1fi,n
n York May 10 $l3eeis 2l 1883? 266 32x9s6s S303I
Fs: Fsisn Ny s sssss ss SsS5 sS5 s sss s ssS
Total. s.ss 4sssoe iss sss,sse 4saosN is:ss.ss
Last week 222 so5 l5t7743fS 49Se45S 1885 l89
Last 2l0 640i5 l28747I40 5O557,sn 1861 6i6
The Michigan Southern Railroad Company have
opened subscription for one million of their sink
;up C,,nd hondo Tho rris> ia mar aud infaroaf