The herald., 1897-10-01
year ago Of nearly Is per cent, or almost
double the gain shown in gross receipts.

year ago Of nearly Is per cent. or almost
double the gain shown in gross receipts.
1t is reprted that the Nortehrn Pacific
has sold sufficient lands in North Dakota
and Montana to large banking interest to
retire the Missouri division bonds Of the
company. The amount Of these bonds is
about s1,75O,0O0.
The Elgin National Insurance company
has been organized at Elgin ILL.,. from the
charter of the old Federal Union of syca-
more, incorporated in 1865, with an author
lied capital of $500, 900, and which REIN
sured in the Republic Of Chicago ten years
later. The Elgin National is said to have
an authorized capital Of 100000. Of which
$4,000 will be paid in cash.
+
A party of Southern Pacific officials have
departed for Mexico for an inspection trip
over the Sonora railway, and 1t is ru-
mored that their inspection Of the prop
erty is to be followed by the transfer Of
the road by the Santa Fe to the Southern
Pacific company. The Sonora railway has
been traded by the Santa Fe for the line
between Mojave and the Needles, belong
ing to the Southern Pacific, but operated
for many years by the Santa Fe under
lease and contract of purchase, but the
formal transfer has not vet been made
Financial Record.
The Mount Morgan, Australia, Is the
greatest gold mine in the world. It was
bought about twelve years ago for $S115.
and since then $751; 900 has been refused
for the mine and works. The most recent
report Of the company to hand, for the
calendar year 1896, states that the second,
third and fourth sections Of the new re-
duction works, which will be capable Of
treating 100000 tons of low grade ore per
annum, will be completed in January. '9s.
A plant for treating the Mundic ore Is be-
ing designed, and it will be able to treat
ore yielding dwt to the ton at profit.
The report says that since the opening
of the new reduction works large bodies
Of hitherto unpayable ore had been able
to be treated profitably. The removal OF
this ore has revealed the existence OF i'm
mense bodies of payable ore. The report
of the superintendent of treatment shows
that the quantity of gold rock treated was
105,2A tons for ,046 ounces.
\ + +
According to an article in the Indian
Agriculturist, the better qualities Of H.
dian mica are exported to England and the
United States, while the lower grades are
used locally for making small lamps for
the marriage professions Of the richer Hin
dus. White mica is rare in Behar, the
best Indian mica being ruby-colored. AL
though mica mining Is sometimes very
improbable, on account of there being no
certain surface indications of its presence,
trading in 1t Is said to be very lucrative.
The present mica mines are all situated
in the districts of Hazaribagh and Gya.
The government leases out land at a fixed
rate of Rs. 50 per acre, while private lands
are leased by arrangement. When brought
out, the mica yields easily separable layers.
the uppermost Of which are generally
cracked, and therefore useless. The lower
layers are sent to Calcutta, either in blocks
or after being cut and sorted. The greatest
pieces are about 25 inches long and inches
wide. Unstained. good ruby-colored mica
realizes as much as Rs. 800 per maund
(maund equals so pounds). but even higher
prices have been reached. One specimen
from Gya sold last year for Rs. 1900 per
maund. There Is only one mine, Singur,
in Bengal, which yields white mica, and
this has been worked for thirty years.