Tiio L'Anso correspondent ot' tho Portago Lako U niette, of May 2il, says : íiesidos tho iron iuterosts oí' this soction whieh are destnied iu their de vol - opmcnt to attract universal attoution, wo havo others that aro as suro to uttract a livoly interest in their bohalf ; notably, slalu and su.ndstono. Slats ot' tho tinost quality exista in inuxhaustiblo quantities ou what is kuuwn as Slato liivur, soctions 28 and 33, tovvn 51, rango 31, iu thiseounty. Tho lands un whicti this slate deposit is are owutd prinoipallj! by your follow townwneu, and somo day, not lar distant, aro certain to add largoly to thoir uiaterialSrealth. The formation runs noarly east and west, dips northward at an anglo of about 40u, aud shows a width of hundreds o' feot as at presont expoaod. Slat;; Kiver passos through deep gorges ot" slato and.empties into íluron Bay, ono aud a half inilos íroiu its head. This Btreara possü.ssu's gome romarkably good waters, whioh could roadily bu utiliztd l'or driving maehincry. A good grade froni tho bods to tho Liko shorc - a distanco ot' two uiilos - oouLl oasily bo obtüiuud tor trainways, or any othor kind of road. Spocituons from the diseovery havo boeu thoioughly tested by experts iu various parte oí t'. o country, and pronounced by all an A No. 1 article, aud aduiirably'aditptedl'or tho manufacture oí' rooiing-slate, billiard-tablo boda, ote. This valuablo diseovery ij likoly to give an iuipotus to tlm dcivelopment of that seutioM of thü country, and may lead to other discoveiics iu the shape of silvertead aud iron. Ou soctiou 28 tbere iu uu outorop of iron oro visible, of tho hematitu variety, but to what extent it may reaoh at present ramains uukuown. it h.is been knowo for sevoral yers past that saud.stoiiuexistediii large I bitiea oa the shoro of L'Ausg Bay, but nothing doiiuito wusreaohed toachin vdlueuui.il lAtely. An average sample baken from a quarry situated in tuwn '2, i r tugo 33, about two hundrijd feet back Erom tho north shoro of oui' bay, has been iaoroughly testod and oxainined of late jy tho State Goologist of Michigan, aá well us by other experts in Chicago and olsowhero, aud allowed by all to De the vory bost quality as to uuiformity of color and oapability of rosisting iiro tests. nka gi' ni niii li.iu ]jt.,,n ti.!.,1 ;.. ÜÍB to equal tho bost quality of firo brick for resistii;g heat. It is of a dark browu color, and dresses handsomely. The land whore the quurry is now opon belougs to Capt. James Bendry, of this place, and to him the credit belongs of domonstrating Uu' quality of tho stone, and bringiut; it to tho attontion of eastern builders. Tho outcrop was discovered closo to tho shore, aud can be traced for about one-third of a mile on the surface, back into tho country, exhibiting an average. width of about 1,200 feet. The quarry has oponed to tho depth of twelve feot, and so far proves to be solid and uniform both in substanco and color. Partios from tho East aro soon expected hero to opon up this quarvy, with a view to the fumishing of a large Eastern deniand. In view ot sueli important facts, coupled with our magnificent ii'on iutorests, can any onu doubt tho inhoront valuó of Houghton County as a field for capital and enterpriso 'i Tho Michigamuii Iron company commoneo soon to dovolop thoir valuable iron property at tho west end of Lako Miehigammi. Look out for startliug i osults.