ore to
extract them than they will sell for in market; so the high-raised
expectations of 1849 have been temporarily blasted, like a great many
predecessors.

But further chemical investigations have resulted in new discoveries,
which, it is confidently asserted, render the future success of the Peat
Charcoal manufacture a matter of demonstrable certainty. A company has
just been organized in London, under commanding auspices, which proposes
to embark L500,000 directly and L1,000,000 ultimately in Peat-Works,
having secured the exclusive right of using the newly patented
processes of Messrs. J. S. Gwynne and J. J. Hays, which are pronounced
exceedingly important and valuable. By a combination of these patented
processes, it is calculated that the company will be able to manufacture
from the inexhaustible Bogs of Ireland, 1. Peat Coal, or solidified
Peat, of intense calorific power, exceedingly cheap, almost as dense as
Bituminous Coal, while absolutely free from Gases injurious to metals as
well as from "clinker," and therefore especially valuable for
Locomotives and for innumerable applications in the arts; 2. Peat
Charcoal, thoroughly carbonized, of compact and heavy substance, free
from sulphur, and for which there is an unlimited demand not only for
fuel but for fertilization; 3. Peat Tar, of extraordinary value simply
as Tar, an admirable preservative of Timber, and readily convertible
into Illuminating Gas of exceeding brilliancy and power; 4. Acetate of
Lime; and 5. a crude Sulphate of Ammonia, well known as a fertilizer of
abundant energy. The company is already at work, and expect soon to have
six working stations in different parts of the country, professing its
ability to manufacture for 14s. per tun, Peat Charcoal readily selling
in London for 45s., while they expect to realize 5s. worth of Tar,
Ammonia, &c., with every tun of Charcoal, while on Solidified Peat they
anticipate still larger profits. These may be very greatly reduced by
practical experience without affecting the vital point, that sagacious
and scrutinizing capitalists have been found willing to invest their
money in an enterprise which, if it succeeds at all, must secure
illimitable employment to Labor in Ireland and strongly tend to increase
its average reward.

BEET SUGAR.

A similar Company, with a like capital, has also been formed to
prosecute extensively in Ireland the manufacture of Beet Sugar, and
this can hardly be deemed an exp