The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-01-02

entrance at top, but has not yet completed it.
shaft has been made from the top, and to the depth
OF twenty five feet. At the entrance the lead ore
was found TO occupy a space between slate and
| sandstone walls, Of from two and half to three
feet wide, dipping enthusiastically; but the vol
ume of ore continues To widen as il descends, and
at the depth Of twenty five feet has attained the
width of from four TO four feet two inches the
| getting purer and indicating larger quantity of
silver Il is believed the other three parallel lines
OF deposit, which appears from every indication,
rising one above the other you ascend the hill,
are equally promising the first which has been
opened.
| found near the mouth of the shaft large guam
| tty of piled, and curious to know what
quantity there was and was informed by the intel
hgent proprietor that there was upwards OF eighty
tons and he informed me that two hands, consist
| ing of a white man, who had worked in the Mis-
SOUR mines, and one negro fellow, had commenced
sinking the shaft the 10Th Of May last, and up TO
| the 18th of November, space OF SIX months, had
raised that quantity of ore; and that the white man
| had been absent FIVE six weeks of the time. He
also informed me that he had been offered S25 per
ton for the ore at the bank. inquired into the ex
pcnse and found that the whole cost was compare
lively nothing, not more than $50 exclusive of
labor If so, of which have doubt, then it shows
that two hands in six months have raised eighty
tons of metal, which is worth 1925 per ton, making
the value OF S20O0 deduct one fourth for hire and
finding and it leaves S 900 for two hands in six
months, which is equal TO that sum per hand year,
profit certain, and far surprising any profit OF la
Dor III tflls or any otller country. Inc proprietor
got charter at the last session of the Virginia
Legislature, on the most liberal terms, for joint
stock company to operate in the raising and smelt
ing of lead and iron, gold, silver and copper, indi-
cations of which appear in the neighborhood and
the lands of the proprietor, with power to manu-
facture paints, &c, &c., and extending the privi-
eges of the company thirty five years, with power
TO purchase 800 additional acres of land l asked
the proprietor why he did not put more hands at
work in the mine, and was informed that he was
growing in years, and knew little about mining,
and preferred selling four ths of his chartered
rights retaining one-ffth for his heirs and HIMSELF
that if twenty gentlemen would put in S4 900 each
he wouldput in 100000, making the sum of $780,
000-he would much prefer it; that he would not
part with the whole, as he considered it an mex
haustible source of wealth, and would not deprive
his heirs of it, that he had made fair calculation,
and found that only the labor of ten hands, after
paying all the expenses, and every reasonable al
lowance for contingencies, would more than pay
the legal interest s 100000, and that almost any
quantity of hands could be worked on it at the
same time; that he preferred selling out TO a few
individuals, to them the profits would be of mo-
ment, and few could operate with more harmony,
and to greater advantage. have no interest what
in this mine; and if any doubt, let him go and
see for himself. Mr.. Faber, who lives about two
miles from his mines, will take great pleasure in
showing them TO any gentleman who desires an in
terest in them. The member of the Legislature
from Nelson has seen this mine, and doubt
would give any information in his power.