■ • • - .•- --i\ [{!*.covkiiy, — »Vo learn that a bed of peat bu? been dkoovorcd on a piece, of htnd about 51iren miles soutli ol this village, or,'nod by Frasper Cm vat h and G, G. William* Ksqrs. The deposit covers about' two hundred and litty acres of land, and U supplied Co bo about twenty feet hi depth.The l5ace is evidently the bed of an old lake, and « «■is on the edge of the marsh that surrounds the moundknown as Uio “Island.^ If the article discovered is really pent—of which there i# but; little doubt—it will prove a great publits benefit and a source of wealth to the proprietors : but if the peat j;c/*ers out. it will not bo quite so vain a bio.