PITTSBURG, FORT WAYNE AND CHICAGO RAILROAD.

The operating accounts of this Company for the years ending December 31, 1865 and 1866, present the following results:

While the earnings of the road for transporting freight in the years 1865 and 1866, were very nearly equal, the quantity of freight transported, and the conditions of the movement varied materially in these years as will be seen by the following comparison :

This shows an increase of the freight tonnage of the road of 23.2 per cent. The foreign tonnage fell off 19,564 tons and the local tonnage increased 212,727 to s. This change explains the reason of the shortened average haul per ton in 1866 as compared with the haul in the previous year.

The revenue from the transportation of passengers fell off $949,325 76 from the previous year. Of this diminished income more than one half or $480,000 was on account of military transportation. The large express business of 1865 was exceptional, and caused by the inability of the lines occupied by the Adams Express Company to accommodate the large south-west business during the closing period of the war-the overflow seeking the route via Crestline over the road of this company from Pittsburg.

The rolling stock has been increased during 1866 by the construction at the Fort Wayne shops of 150 box cars. The present equipment consists of 189 Icomotives, all in good order; 169 passenger, baggage and express cars, and 1,381 freight cars.

The track is in excellent order and fully equal to that of the best western roads. During 1866 twenty-four per cent. of the main track has been relaid with re-rolled iron; and during the last three years three fourths of the main line of 468 miles has been relaid with new, re-rolled or repaired rails, paid for as repairs out of the current earnings. The side tracks have been increased by 6 9 miles, which makes the total sidings now in use 105 miles. In addition there are 22 miles of second track from Pittsburg to Rochester, and 7 miles from Chicago to the crossing of the Rock Island Railroad. The construction and equipment has been continued through the year 1866 to a larger exten than was expected The expenditures on these accounts amount to $1,116,975 70, viz: in the Eastern Division $580,926 80, and in the Western Division, $536,048 90. These amounts include a small sum properly chargeable to 1865.

The financial condition of the company as exhibited on the balance sheets of December 31, 1865 and 1866, is shown comparatively in the following state

The shares of this company fluctuated in the New York market in 1866 as is shown in the following exhibit:

Elsewhere, native silver occurs only in connection with gold or with the true argentiferous ores; but hitherto not a trace of silver ore has ever been discovered in the copper district of Lake Superior. The silver occurs in small masses, weighing as much as two or three pounds, and forming specimens of great beauty. It has been found in almost all the veins of Keweenaw Point, in the lodes of Portage, particularly the Isle Royal lode, and in the mines of Ontonagon county. Although the two metals occur in the most intimate association, yet they are hardly ever found alloyed with each other. Frequently two masses of silver and copper form one lump in such a way that the junction of their edges is absolutely perfect; yet the two are chemically entirely distinct and unalloyed. Sometimes beautiful specimens of native silver are found in stopping, or in opening the mine, but the greater part is found by picking over the lumps of copper, which are too heavy to be washed from under the stamp heads by the stream of water that is continually pouring into the mortars, or as the miner calls them, "covers," in which the stamp rock is pulverized. The "covers" are cleaned out at intervals, when a number of those lumps, varying in weight from one dwt. to two or three oz. are taken out, and these are picked over by boys who take out the silver. In 1865 the amount of silver found in this way at the Cliff mine sold for $5,270 17 There is no doubt that a considerable portion of the silver is purloined by the miners, besides that which is so fine as to be carried away to the washers, whence it goes to the smelting works, and with the fine copper there, is melted up and becomes alloyed with the copper. The quantity thus escaping is not, however, sufficient to make it worth while to erect furnaces for separating it from the copper, which is undoubtedly improved by the admixture. It is worth while to notice that the native copper and silver of Lake Superior, side by side, yet perfectly distinct from each other, is one of the very strongest objections to the reception of the Plutonic theory, which accounts for the presence of the copper in the veins and trappean beds of Lake Superior by assuming that it has been injected in a molten state from below.

RAILWAYS IN FRANCE FOR 1865 AND 1866.

A return relative to the working of railways in France in 1866, compared with 1865, has just been issued by the Ministry of Public Works, and the following are the principal features in it :

It will be seen that the old network in 1866 was less by 66 kilometres than in 1865. This was owing to the Graissessac and Carmaux lines having been transferred to the new network of the Southern Company. The term "old network" means the old lines; "new network," the prolongations and embranchments there of on which the Government guarantees interest. The 14,382 kilometres worked on Dec. 31, 1866, were in English measure 8,988 miles, and the 13,538 of 1865, 8,461 miles. The receipts of 1866 were £24,133,920, and

of 1865, £22,405,048.

Taking the average receipts per kilometre, of the old network, it appears that those of the Northern Railway were 1.80 per cent more than in 1865; of the Eastern, 5.96 more; Western, 6.32 : Orleans, 7.82; Lyons-Mediterranean, 8.31; Southern, 6.93; Ceinture, 16.15. The other lines were of no importance. In the new network, in which, it must be remembered, the average length worked during the year was not the length worked at the end of the year, the Northern railways produced 2.52 more; the Eastern 6.50; the Western, 8.58; the Orleans, 1.70; the Victor Emanuel 5.35, but in the Lyons-Mediterranean, there was a decline of 6.33 and in the Southern of 0.55. Taking the old lines altogether, the receipts of 1866 were 7.18 per cent. per kilometre more than in 1865, and the new network 0.50 less.

COMMERCE OF BOSTON,

We take from the Boston Daily Advertiser the following statement, compiled from an official source, of the value of imports and exports at the port of Boston for 1866, as compared with the two previous years.

IMPORTS,

The total value of imports for three years has been as follows:

The total value of exports for 1866 amounts to $21,305,531; for 1865, $16,530,328; and for 1864, $20,417,710. The exports for 1866, show an increase of $4.775,203. The imports are given at their foreign cost in gold. The exports are reckoned at their currency value here. The imports of specie for 1866 amount to $1,298,943 and the exports of specie to the same time to $3,789,799. The monthly value of exports were as follows:

1866. 1865. 1864. 1,801,791 1,144,747 2,479,609

2,025,890

1,381,362 1,915,282

1,759,473

1,209.613 1,965,059

1,564,686

1,511,589 1,913,845

1,045,089 1,231,414 1,829,086

$21,305,531 $16,530,328 $20,417,710

WITHDRAWN FROM WAREHOUSE.

The value of merchandise withdrawn from warehouse for consumption in 1866 was $16,463,420, and the amount entered for consumption was $22,414,100, which shows the value of merchandise thrown upon the market, exclusive of free goods, to have been $38,877,529 or an increase of $11,696,059 over that of 1865. The following gives a detailed statement of the value of merchandise withdrawn from warehouse for consumption.

The following letter has been extensively put in circulation. It is an indication of the determined efforts that are being put forth for a further inflation of the currency:

OFFICE OF THE MERCHANTS' UNION LAW Co.,
AMERICAN EXCHANGE BANK BUILDING,

No. 128 BROADWAY, NEW YORK, Dec. 21, 1866.

DEAR SIR-Several of the parties connected with the Merchants Union Law Company having been retained by some of the national banks and others interested, to oppose measures pending in Congress for the further curtailment of the currency, for compelling all such banks to redeem their issues in New York, and for prohibiting them from receiving or paying interest on bank balances. In view of the importance of the questions involved, concert of action has been determined upon; eminent coun