The republic. [volume] (Washington [D.C.]) 1849-1853, 1852-12-30
Report OF the Board OF Directors.

Slcreiary.-A. G. Jaudon.
Report OF the Board OF Directors.
The late organization of this company rem
ders it imperative that the present Board should
submit To the stockholders detailed statement
of their views in relation TO the value of the
estate, its present condition and future pros
poets.
Ga assuming the labors of the trust confded
60 them, they were aware that it required
vigorous and united effort to develop SO large
an estate, and would require much Of their
time and consideration. This they have
not failed to give, and To make themselves
acquainted with all the details Of the bust
ness. The immense area which this estate
covers, being about 70 miles long by 6 ioidc,
and in the widest state of nature, necessarily
demanded years Of the most vigorous efforts
and industry to develop even paritatfy its
hidden and immense treasures. But, Iortu-
naely, much has been accomplished by our
predecessors in Office, and the estate has been
handed over TO ss in state of improvement
upon which future results may be estimated
and predicted with some certainty, and upon
which stockholders may confidently rely.
First.--Its value,
This estate consists OF - 900 acres of land com.
mencing on the east, at the Schuyiki county line,
and extending westward % miles to Dauphin
upon the Susquehanna river and Pennsylvania
canal. This priucipaity of estate embraces the
whole OF the southeastern end of the first or south
ern coal field Of Pennsylvania, and comprises a
coal area or basin of upwards Of ten thousand acres,
as rich IN coal veins as any other part of the
coal field. This coal field extends from near the
Lehigh river, al Mauch Chunk, to near the SUE.
qoehannn, at Dauphin, distance of about e5
miles; 70 miles OF which belong to the company.
1t Id this held, upon which has already been ex,
pended about seventy millions of dollars TO develop
lie resources, and which now pours forth daily its
rich, inc xbaustible treasures into the lap of COM
meTce and trade.
There were transported from it last year three
millions and upwards Of tons The basin x0on
the company's land averages about one mile and
a fourth IN width, skirted by high mountains on
each side, covered with the most valuable timber
and dipping from either side towards the centre Of
the basin; the coal seams running parallel with
the mountains, and at corresponding ngles, and
gradually fiattenng across the centre Of the basin
1t is striking and valuable feature OF this region
that the Northern ridge, or Fourth Mountain, con-
tinues unbroken throughout the property; whilst
the Southern ridge, or Sharp Mountain, furnishes
gaps at such distances apart as give ample runs
upon tho veins.
These coal seams upon the Lehigh are of a COM
change their character to a free burning white nd
rcd ash anthracite, until they reach the Dauphip
estete' where, lmblbing more and more of the
volatile ingredients, they finally become bitum
noue upon III thus giving to this estote the cec,,liar
ana sIchs're dduantdge; p.at upon II is to be at.
thihed every shade OF graduation, from the free
oo'hirS "bie ana red ash varieties to the rich bi
luminous coal. Our e1pior atoms hare thus far e,
tobhshtd greet regularity in the measures, the pc.
cuiiariy valuable character and properties of the
COL, ana its inc xhaustbe quantity. The veins
no" cut and proved chow that there lie portion
OF the coal field where there is q finer DISPLAY OF
veins, In go small distance the measures,
and certainly no coal basin can be found present.
Ing more advantages, by reason of it's FORM for
economical work king. The mines Of this compsn '
are the nearest coalto tide ,oaf; and by the railroad
oil the company and its e~unexions csreauy o-tse,
the coal dsscends the whole way, from is place in
the mines to Gde-water, and enjoys more avenues
to market than any other portion of the coal field
These avenues to market cover and embrace like
net. work, and consequently open to this estate a
large district OF productive wealth and popula
ton as exists in the United Staes-agric uIturoI
mineral, and mechanical. Our connexion with the
Pennsylvania railroad ia only distant from tide wa
er az havre de Grace by canal u miles, and by a
continuous railroad 10 Baltimore SO miles Our road
intersects AID unites now with the following ex.
tensive lines OF improvement in operation viz {.
the Harrisburg and Lancaster and Philadelphia
railroad, the Columbia railroad the Marietta rail
road, the Harrisburg and York railroad the Balti
more and Susquehanna railroad, the Washipe top
railroad, and the Cumberland Valley railroad, the
Pennsylvania canal. the Tide Water and Della
ware and Chesapeake canals on the south and
eventually with the Philadelphia and Reading
railroad and Union and Schuylkill canals on the
east. glance on the accompanying map will
show the rich and fertile country which tbese
roads and canals cover and control, and Inc NOM
lous and wealthy towns and cities which lie in
every direction.
This real estate, ofup~a of A., 900 acres, has
cost 5 SEQ ,0OO-about thirty dollars per acre
not one third OF the price OF good farming land in
its vicinity.
Second--Ite present condition.
The Company has built and now ruioys n frat
class railroad oil twenty nine and a half miles
with descending grades, from the eaaterp ex.
remny OF their property to the Pennsylvania
canal, at Dauphin, and the Pennsylvan MIA railroad
SIX miles above Harrisburg. At the eastern tern
nus OF their road they have penetrated by lateral
roads the deep gaps OF Gold Nine and Black
Sprlng, IN Sharp Mountain, which cut down the
strata or veins OF coal at right angles and afiord
tho opportunity, to some extent, Of working the
veins Of coal at their endsI these roads are now
built with desc ending grades TO a common break
or. From the water level of each Of these gaps
tunnes are being driven at right angles with the
veins, as exhibited by the annexed sections a nd
VIII DC prosecuted until they reach the copglome
rae rock OF the Northern or Fourth Mountain
From these tunnes, as they each vein in cue
CeBslon, dtiits upon the coal can be driven as far
as the property extends longitrdinaly, and by
which breasts are obtained, varying in Der pendic.
ular height from 100 TO 600 feet Drifts have be en-
driven at both these gaps upon two vens-the Pea
cock and cet-to the extent OF 1875 feet, and the
coal will be mined as the breakers and
ecieers are finished, which will be about the first
o. next month. The tunnel has been driven 36s
feet, and will be vigorously profecut during the
winter In order TO cut and develop for neg ca q
usiness large extent Of coal in this section OF the
estate, slope has been driven down upon a 3
icet vein in tho Northern or Fourth Mountain side
OF tho basin, to TIC distance Of 81 icet nd sixty
h"rse stationary engine Is bcirg erected, TO sink
the came to the level Of the tunnel and then tun-
mel north and touth, and cut through the entire
measured. All the tunnels arc driven with a
gradual desCent from the Mines 60 az To kceo
them cifectuaily drained Of water. From these
gGPs a large quantity OF coal will be mined nc 1t
year; not lees than $4,000 tons. Upon thee wor 8
aud Improvements, engines, breakers, screens,
slope, dwelling hous's, &c, there has been ex-
pended, up to this time, 8 ,934 O5 Four miIes
from these gaps, and nearer to tide water we
again penetrate by lateral railroad throue oh
Sharp Mountain, Rausch Gap, where we have Gu,
tpcn oil of