of minerals, it should not be lost sight of, that they are scarcely of more im portance to an enterprise than the kind of management which shall come after them.

Importation of Metals, Coals, &c., at New-York from June 24th to July 15th, 1853.

During the month of June the market for copper stocks was much depressed, and many of the shares declined largely from previous quotations. In several of them no sales whatever took place, and the shares could be bought at very low figures.

The forced prices which were attained in April last by speculation have had an injurious effect with the public, who, having had their fingers burnt, are now doubly cautious how they venture a second time. Many of the companies which were then brought forward, and the shares sold out at several hundred per cent. profit, have since proved to be perfectly worthless, for the present at least, and it will probably be many months before they can be developed, if

ever.

Such a course as this must naturally have its effect, notwithstanding there are copper companies that stand the test of practical working, and not on paper merely. The Minnesota and Pittsburg both have a foundation, not of sand but real copper, which is strong enough to sustain them in the estimation of a discerning public. Both these companies are doing a splendid business, and accounts from the Pittsburg (commonly called "Cliff Mine ") are of such a highly favorable character as almost to stagger the belief of its most sanguine friends. Copper Falls comes next and ranks well. Although not yet sufficiently developed to become a dividend-paying mine, the present year's work gives promise that another season may produce a result so much to be desired, both as an evidence of its capacity, and for the benefit of its shareholders.

North American continues to progress successfully and maintains its market value very steadily. National is in good demand now at $31 per share bid, with a scarcity of stock in the market. Holders of these shares are looking to the future for still greater success, although at present the stock is worth more than fourteen hundred per cent. above the amount ($2 per share) yet paid in. We doubt if any mine in this country ever reached so favorable a result in the

first year of its operations. North Western is in good demand at 19 to 20, although not much dealt in here.

Toltec is improving, both in the accounts from the mine, and in market value, the price having reached 14, which is an advance of $3 per share thus far this month. This stock is popular with speculators here, both large and small, and bids fair to advance, unless some unfavorable blast should be heard from the regions of Lake Superior. Forest, although very much depressed within a few weeks past, has now recovered its activity again, and advanced to 14 with much firmness. Some private advices from the mine have been more favorable of late, and the actual shipment of 7 tons of copper, has strengthened the confidence of operators and the public generally. Isle Royale is firm at 13 to 15, and the accounts from the mine are very favorable. Holders evince but little disposition to part with their stock. Norwich is not much in the market, but 9 is freely bid. The future success of this mine is considered beyond doubt by those best acquainted with the results thus far. Phoenix was very much depressed some weeks since, the price being about $8 per share, which was a falling off from 19 in April. Within a short time, however, sales have been made at 10, and the stock is in fair demand. Algomah is much inquired for at $4 per share, but the stock is held higher. The prospects are considered very fair. Ripley has improved, and now sells at $3 per share for $2 paid in. This company has been but a short time organized. Adventure has not sold for the past six weeks. The price is nominally about $6 per share, but reliable quotations are difficult to obtain. Bay State sells at $2 per share, Dana 2, Fulton 2, Glen 21, Manitou 2 asked, Native 44, Shawmut 14, Star 2, and Winthrop 2. No particular information from either of the above has been received here lately, and they may all be classed as of the prospective, rather than of present value. A portion of them will undoubtedly become more or less valuable, while others will be lost sight of in the course of time.

All of the above companies are situated in the vicinity of Lake Superior, and comprise nearly all ever dealt in here. The Manassos (in Virginia) is occasionally sold in this market, but is not generally known. The friends of it anticipate great results from its workings, however, and think it will rank with the best in due time. We have given a short review of each of the copper companies in the above list, and will now speak of the only two companies remaining.

The Malone Sandstone Company is situated in Malone, N. Y., and as its name implies, furnishes material for building purposes. Large contracts have been made for furnishing the stone, and the prospects of the company look highly favorable. The stone is very durable, being hard and yet easily worked, and of a handsome cream color, which imparts a pleasant appearance to structures composed of it. The nominal capital is $400,000, divided into 40,000 shares. The stock was paid in at $3, but has since declined to 14, speculators selling "short," and then breaking down the price in order to buy in at a profit. The West Castleton Slate Company is located in West Castleton, Vt., and produces a very fine article of slate, which is coming into general use. The nominal capital is $1,000,000, divided into 50,000 shares. The stock was paid in at $6. No sales have been made since May 18, at 61. The price is now about 5 bid, 6 asked.

BOSTON MINING SHARE LIST.

Fluctuations for June, 1853, in twenty-five different Mining Stocks, sold at the Boston Stock & Exchange Board, showing their Highest and Lowest Points, and the Date, with the Market Value at the close of the Month, Gain or Loss for the Month, and number of Shares sold in each.

The number of shares sold in June was much less than for the previous month. It will be noticed that no sales were made in five of the above companies, while in eight others less than 100 shares were sold in each. The market value does not compare favorably with the close of May.

It is not easy for those who are unacquainted with mineral districts to comprehend the value which is at once attached to localities where rich mines are discovered. The rise in the mineral lands of Lake Superior probably furnishes an extreme case of the kind. Some of the particulars from a highly creditable source we lay before the readers of the Mining Magazine.

The recent rapid advancement in the price of iron and copper in this and other countries, and developments made within a few years past in the Lake Superior region, have begun to have their effect on the price of these valuable mineral lands on the south shore of this lake. As the region of the mines was remote from the great thoroughfares of the country, and till recently difficult of access, it has been visited by but few who comprehended the value of the mineral wealth that lay stored in these northern hills; and though masses of pure native copper showed themselves in many places on the very surface of the veins; though hills of iron ore yielding eighty per cent. of the metal were scattered along the shore, and though the climate was peculiarly favorable for mining purposes, still capitalists have been slow in coming into this favored region of investment, until within two or three years past.

There never was a field of such mineral wealth so long neglected as this of Lake Superior. Quarter sections of copper and iron lands, that are now selling for from ten to one hundred thousand dollars each, were a year ago bought for

ten shillings an acre. The Cliff mine (Pittsburgh and Boston,) that is now turning out some 1200 tons of native copper a year, and paying or reserving each year two hundred per cent. on the original investment, is located in lands bought a few years ago for five dollars per acre. There are at least twentyfive mines on Lake Superior that would bring to-day two hundred thousand dollars each, and eight of the number could not be purchased for five hundred thousand dollars each.

The iron mountains are scarcely to be estimated in like manner-there is iron enough, and that of the best quality, to supply the wants of the entire country for centuries to come, and then wonderful deposits of this metal are beautifully situated in a wooded country, in the midst of a rich soil, with splendid streams, waterfalls and lakes, and all of these lands have been bought within half a dozen years at the Government price, or ten shillings per acre: now their value cannot be estimated. The proprietors of these copper and iron mines, when they first entered these lands, had but a faint idea of the fortunes they were securing for themselves and their successors. Thousands of acres of as valuable lands as are to be found in the country have remained unsold or unsecured till this season; but now the value of such investments is beginning to be better understood and appreciated by capitalists, and some seventyfive thousand acres in the several mineral and pine districts have been taken up within the past two months. There is no want of capital for investment in this promising field at the present time, and good mineral lands, and agricultural and timbered lands in the vicinity of the mines, have gone up several hundred per cent. this spring. A man who buys a good piece of mineral land at Government price, may buy a mine worth a hundred thousand dollars; and at all events he buys timber on it, to say nothing of the value of the rich soil, worth ten times the original cost. The value of the soil for agricultural purposes, and the value of timber, is a consideration which is but little understood at the present time.

The aspect of the Anthracite coal trade has not materially improved during the last month. The following from the Anthracite region, of the latest date, appears in the Miners' (Schuylkill) Journal:

Both the Lehigh and Lackawanna Companies have advanced the price of their coal on future contracts—and the operators here, we learn, will also advance the price of coal on the first of August, to correspond with the advanced rate of wages, which they are now paying.

The decrease from the Schuylkill region is 69.332-from the Lehigh 3,994 tons, making from the two regions a decrease of 73,326 tons in the supply this year. There remains but four months of the shipping season-and the Mauch Chunk Gazette says that "if there is no interruption, the increase during the season, from that region, will probably be about 75,000 tons." We have no data to draw a comparison of the trade from the Lackawanna region—but it is generally understood that there is no increase so far, if it is equal to the supply to same period last year. From this region, with a deficiency of 69,331 tons, and only 19 weeks remaining until the first of December, we can hardly promise any increase over last year up to that period, unless the men work more regularly for the balance of the season.

The Shamokin region will not open until some time in August. It may do a business of 50,000 tons this year-and about 150,000 tons next year. Paper calculations of a million of tons may do for speculative purposes, which is the course of all regular business, but time will show which calculation will approach nearest the truth.

Just as our paper was going to press, we received the following telegraphic dispatch:

We advance our tolls on coal fifteen cents per ton, on 8th August, fifteen cents more on 1st September, and ten cents on 1st October. JOHN TUCKER. The Schuylkill Navigation Company, of course, will advance their rates accordingly.

JOURNAL OF GOLD MINING OPERATIONS.

The yield of gold from the mines and diggings throughout the world manifests no decline whatever in quantity. On the contrary, new mines are opened and new deposits of ore discovered. In the Peruvian territory the discovery of this metal has been recently reported; in New Grenada, where it is known to exist, exploring geologists have been sent out to examine the value of the mines and the facilities for working them; in Virginia and in North Carolina operations are commencing in valuable mines.

CALIFORNIA GOLD FIELDS.

The methods of mining now adopted in California may be divided into three classes: First, the original practice of digging up and washing the earth on, or adjacent to, the banks of streams. This has been followed with so much industry, that the method was some time since adopted, of digging canals to conduct the water from the streams, in some instances for miles through dry placers. The extent to which this has been done is far beyond the conception of those who have not visited that State.

The Mokelumne Canal Company's operations involve an expenditure of $250,000. The flume is eighteen miles long, four feet wide, and four deep. There are over fifty aqueducts from 500 to 1,500 feet long.

The new aspect which this has produced in the mining operations in the State is thus described in the Alta Californian:

It is now becoming a "fixed fact" that the gold in California is but just fairly discovered! that the gold region of the State is founded on auriferous hills, and that those portions which have been worked are different from the remainder in this respect. The gold on the surface has been set free, and in the course of ages, as the rains have washed away the dirt, the gold has worked into the gulches and creeks to a larger amount than has usually chanced to be in other places. These creeks were the first to get worked out, and many supposed that when the gold was exhausted in these places, there would be little left worth digging for. But it is now proved otherwise. In those sections where the diggings have proved richest, the hills, if they have been thoroughly prospected, have almost uniformly proved rich. Leads are found running in all directions through the hills, and it requires only close observation and good judgment to render the deep diggings not only reliable, but extremely profitable.

It was formerly thought that it would not pay to dig large and long tunnels, and if it was suspected that there was gold in any particular spot, it was the practice to sink a shaft, and by means of a windlass and bucket raise up the dirt, and in this way prospect the ground. By this means they could only prove a little spot with a great deal of labor; but since the faith in deep diggings is so improved, they confidently strike in at the side of a hill, and drift away till they find something, which they always do, if they continue long enough. Sometimes, they work month after month with very little show, and lo! when least looked for, perhaps, they strike the rich deposit that repays them for all their labor.

The Placerville Times alludes to the same subject in these words :

Now that the rains have ceased and the ravines are becoming dry, there is an increased demand for water from the various canals and ditches within the