The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-04-19
PROSPECTUS.

Is formed 1Or Lne purpose VI WOTklIB LHe OK
ensive Coal and Iron Mines, and other Minerals,
lpon its Estate which consists of freehold Of 34O,
90 acres (nearly 500 square mesl OF the finest
imber and agricultural lands in the State OF Virgil
ria, United States Of America; not less than two
thirds Of which is underlad by at least five veins of
Camel and btuminous coal, from four to eleven
and half feet thick; and having an aggregate
thickness Of more than thirty feet. Also of mex
haustibe quantities of Iron ore specimens Of which,
as also Of the Coal, be examined at % Moorgate
street.
This Estate, containing nearly five hundred square
miles, was recently the property OF the "Guydndofe
LAND Corpany," and the land alone independent
of its Timber and hnerals-Coal Iron and Salt
il believed to be worth the full amount of the Capt.
tai Stock of the Company. Its invaluable mineral
wealth has been discovered since its organization as
GLAND Company" and all its property has been
transferred to the Guyandotte Land, Coal and Iron
Goeamy" for the purpose of working kin its Coal and
of its Agricultural Lands and Timber, will, I'M
questionably, refund the entire Capital of the new
Company
Company" and the Directors and Officers Of the
present Company and their associates have taken
up Sirty Thousand Shares of the Capital Stock,
leaving only Forty Thousand Shares, or 100000,
to be subscribed; of which sum 100000 will be set
aside as the working Capital of the new Company.
The title to this princely estate is ndisputabe.
1t is situated in Cabbell County Western Virginia
near the Ohio river; and the River Gnyandotte runs
thirty-fve miles through tho property of the Com
pany, and emptes into the Ohio eighteen miles from
the Company's property.
The State of Virginia and the late "Guyondotte
LAND Company" have just completed December,
1859 slack water navigation Of the Guyandotte
River from its mouth to the heart of the Company's
property; by which coal boats can pass into the
Ohio, and thence to Cincinnati, Louisville, New
Orleans, and every market below the mouth of the
Guyandotte, every day in the year. This work was
constructed by the "Guyandotte Navigation Com
pany" during the last three years, under charter
from the State of Virginia with capital OF 100000
dollars Gao, 0OOl; hpaatE Of the Stock Of which
is owned by the State of Virginia, and t,cofftts by
the present "Guyandotte Land, Coal, and Iron Com
-any."
The State of Virginia having thus aided in giving
N outlet to the Coal Of this region her Board of
Pubic Works" now offer to advance funds to aid in
he construction of Ironworks and pledge them
elves to give preference to such Iron works, in the
purchase Of rails for the western section OF the Great
Central Railroad Of Virginia, which connects the
Ohio River with the atlantic, and passes along the
property of this Company about twenty miles, and
crosses the Guyandotte River just below the Com.
pany's boundary. Upwards Of one hundred miles OF
this Railway is now open; and the whole Will be in
operation at the close Of 1855.
The following facts have been conclusvey and
satisfactorily proved; and the dataupon which they
are based will be found in the Appendix annexed.
l. The extent OF the Company's domain (340,0O0
acres), admits of no dispute.
2. Their Coal has been analysed by Prof. Locne,
and its superior quality established.
8. The extent and richness Of their Coa-Veins and
other Minerals, are clearly demonstrated.
4. The slack-water navigation OF the Guyandotte,
constructed jointly by the State Of pugin'd and the
late "Guyandotte LAND Company" is completed,
and the market for Coal accessible at all stages Of
water.
S. Coal is being put in the Company's boats by
contract, at two cents (ld.) per bushel
6. Coal can be delivered by the Company at Gin.
cnnat at less than four cents (M) per bushel; and
at Louisville and everywhere along the Ohio, at i've
cents or less, per bushel.
T. They have been offered, and their agent has re.
fused l2 cents per bushe for all they can deliver at
Louisville. (See Col:WEBB's Letter, in the Appsn-
dix)
g. The price of Coal at all the markets on the Ohio,
beotc the mouth Of the Guyandote, varies from l2a
TO rs cents and upwards, per bushel and cannot IN
any conceivable contingency fall below 10 cents per
bushel. There are from % to 80 bushels In ton.
g. The Company may reasonably anticipate at
least 12t cents per bushe for all the Coal they can
mine. The average price will be higher. ii,
10. The demand for Coal very far exceeds the pre-
H. The Company's Coal-veins are inexhaustible;
and the evidence before the Directors goes TO prove
that If they were to send out 5000 tons per day IN
stead Of one thousand it would not supply the de-
mand now actually existing and daily on the In
crease.
IL. Five thousand acres of the Company's land,
four miles above the falls of the Guyandotte, where
the recently constructed slackwatsr navigation gives
US from ten to twelve feet water alongside OF our
Coal openings (S@ Official Report Of Slqckiyater
State Of Vrginia, 3l Oct. 1859, if sold at onshird
the price of Coal lands as favourably situated near
Pittsburg 2s5 miles above US, and only accessible at
high water, would yield q sum equal TO the entire
is. Unless the Company dispose Of portion Of
this Coal-fied and thus invite competition, they
must for ever control the price of Coal on the Ohio
below the mouth Of the Guyandotte.
The price to be paid for the entire property
or $4,000 acres or nearly 500 square
miles, including two-ffths interest in the
"Guyandotte Navigation Company, Is
less than fl IS. Cd. per acre. ...... f45o,ooo
OF which amount there will be taken in
Leaving to be paid in Cash ............. 225, 900
100000
To which must be added, the proposed work
ing Capital. ............''' oo,OOO
Making total Capital OF. ............f $500 900
ESTIMATE OF PROFITS.
Suppose we send out only three boat-loads
Of Coal per day, Of $50 tons each, being
1850 tons per day, or, In round numbers,
100000 tons per annum. At profit OF
fourpence per bushel which Is the small
est average profit we can possibly realize,
IL would be 9s. Nd. per ton, or on the
3OO,OOO tons. ,....,.. .....,,...... .tl4VooV
Or 28 per cent. on the capital
Go be quite safe, let assume that during
the fra year we only accomplish half this
work, and the result would be......... 10000
VI A. pss ''"'' SECOND YEAR.
Iron, (say)......... 10000
Timber ...........
/" Land Sales.
$4,000
Or "a per cent.
II quite safe, then to say that the Shareholders
may anticipate profit of not less than 10 per cent
onl the first years operations, dating from LIST of
J1ly next and moi less than trety per cent on the
feCond year. And these minimum profits, cannot
fsa to be annually greatly increased II the business
- conducted with ordinary discretion and energy
DF. DV BoIs, Of New York, the President OF the