Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1854-05-31
From the New FORK Tribune
RsDort OF the President of the Phenir God Asnang
1S' Company Of North Caroline.
CAPfTAL, $500, 600

Nrws YoRx, April 20, 1854,
10 the StockAolders.,
GRNrLEAEN: Having just returned from VISIT TO
our property inc abarrus county, N q, am lnduc-
ed from sense of duty, to make q brief report on
the condition and prospects of the mines, as L left
them Ny stay there being short-about six weeks
it was of course impossible tor me to make
thorough exploration of more than small portion
of our valuable estate. So far time and circum-
stances permitted / made general and careful ex-
animation of the Cempanys property, and have
the pleasure to state that all the antcipaons when
had previously formed have been realized to the
fullest extent In all, property consists OF ABOUT
700 acres, nearly every acre OF which rs st1cty
speaking mineral land On portion OF the pro-
perty, known as the Conner and Simonton Irac',
comprising about 200 acres, are located the sulphur
the Orchard and the Elwood Mines, which have
been successfully worked, though with hmiIco
means for long period of time-ohe OF lheih lof
Quarter of century at least Inc charactel VI
these mines is so well estaoisnGa :1t I'm nv
from mo would be superhuous. Besides these' hu
,narous other veins of gold and copper ores are
known to exist this tract and from personal oo'
seryaton feel assured that many II not oil OF tne
win prove to be workable and productive VEINS.
Among the number beg leave to call your atten-
t;on to tho "Od Field Vein," designated as such on
the map on file in the Company's Office, as also 10
another equally as rich in gold, known ana desig,
mated on the same map as the Black Oak Sha1t'
Roth of these veins are exceedingly rich in the pre-
cious metals and have yielded gold equivalent to
three dollars per bushe by the rudest process known
The remaining 500 acres consist OF several ostincI
tracts one of which is the Barrier Tract being 9O
acres more or less and which thu celebrated Bar
rier Mine is located This mine was opened many
wears ago bat was worked very little until our Com
many got possession of it. The prospects here are
verv aterng and it is the opinion CT many experts
T.; mining that this vein will prove to be of the
very richest in the State of North Carolina. Such
too is the opinion of our Mining Captain, w H.
Orchard who has had much experience IN the mines
in Cornwall in England, and in various localities IN
choftc have hae this
mine two of them to the depth of LOG feet or more
and tunnels driven N. E. and S. W. on the vcin at
fording extensive stopping grounds The ore Is ex-
ccedngly rch the vein full two and half feet wlde
and promises to increase both in quality and size
Several other veins, running parallel have been dis
covered adjacent thereto, the appearances OF which
are precisely similar, and these have doubt will
prove to be equally valuable. Other portions OF
the property known the Hag Ter Tract, the Simon
Bost Tract and the Daniel Faggot Tract, have like
wise been ascertained to be exceedingly rich in min
erals many veins having been discovered and open
ed to no very inconsiderable extent On the Hasier
Tract, their exists copper vein which, although
proven to the depth of more than twelve or tt-
teen feet ustifes the expectation of something very
rich The ore is of the species known as the yellow
sulphuret, and Yields 80 to 33 per cent of metal
Other veins of copper were pointed out to me on
this tract, but time did not permit me to investigate
them.
The works of the company, including mill-house
and machinery for grinding the ores are situated on
the first mentioned tract within few hundred yards
of the managers house. Two CHILEAN mills and six
heads of stamps, worked by steam-power, crushing
and grinding about 120 bushels of orc per day. are
now in successful operation, and soon another mill
will be added. With the present amount of ma
chinery our daily yield of gold is more than double
all expenses, and when in about six weeks hence,
the third mill shall be completed, our receipts will
then insure to net profit, above our expenses,
of not less than one hundred and fifty dollars per
day, equal to sixty per cent. per annum on
the present market value of our stock. The mines
are capable of producing any quantity of orc, and
all that is wanted to make income still larger Is
the addition of more machinery, which strongly
recommend and in connection with this subject it
may not be amiss fer to state that there are
ample funds in the treasury to do So and that the
Board of Directors have expressed their approval
of and willingness to comply with my suggestion in
this particular.
To appreciate fully the value of our property, it
is only necessary to visit the mines. Our managers
house is ever open to ALL and all are invited to
anime for themselves. As purpose going to the
mines again very shortly, I shall be exceedingly
happy tn meet there such COMMITTEES a you may be
pleased to appoint visit to the other mining pro-
pcrties in North Carolina which are the direct
route hence and included in the same belt, l would
also recommend, with the assurance to the tourist
that he will be more than repaid by the knowledge
he will obtain of the vast mineral Of the
State, which to me appear yet but little known to
the mass of people at the North
Very respectfully your ob't servt
JOHN stage, Prcs't.
Office Of the Company, No. Is Erchange-place.