The North-Carolinian., 1857-03-21
that those who are behind, will immediately

that those who are behind, will immediately
come forward and pay up.
| The report:of the Treasurer marked 3, shows
the present condition of the Company. from
which it will be seen that since it's organization
$9F 1885, 90 has been expended.
Fhe Board congratulate you on the removal
OF some of the chief obstucles in the way of our
progress. First, stock k-jobbing stockholders,
who controlled the company; secoffd. bogus
Rail- Road builders, who for time did the
same; third, the hope cf State ad--which par-
afyzed our energies by making IFS believe that
Hercules would help us, when we were not
trying to help ourselves. These are now out
OF the way, and we know and feel that We are
to do the work ourselves. We Gun do it and
we will
BY way OF encouragement to some, and of
information to others, let us consider some Of
the benefits expected from the completion of
this roatl
All must admit that very large portion of
our most valuable trade has been cut off from
us bs the n. c. Road. Now the only way to
regain that trade is to go to-the n. C. Road
after it; and fortunately for us. it happens
chat the coal fields directly in our way,
placed there it were to aid US in our efforts
We cannot get to the n. C.Road without
getting first to the coal fields, and once there
we are certain to go on,-and once there very
much of our trade would flow back to u.s. Our
old customers who now haul their produce from
TO to 40 miles to the n. c. Road, would haul
the same distance to our Road at Deep River
and come down to their old market, where:they
know everybody and everybody knows them
This would be the beginning OF our CONNER
cial advantages. The advantages to result
from the development of the coal and iron are
many and various, and cannot fail to suggest
themselves to every mind We are at present
chiefly interested in knowing the quantities and
value; the quantity bearing upon the trans
portaton OF our road; the value as bearing
upon the amount of exchange we may expect
from our position, and the facilities which our
Banks can afford.
| The amount of exchange in which we are
interested, and which must be paid out and left
in the State for our benefit and that of the
whole State, (no matter who may own the
mines and realize the net proirs,) will be just
equal to the cost of mining, transportation,
! shipping, &c. On coal this would be 81 per
ton, and on iron ct least $40 per ton. If 5OO,-
600 tons Of coal were shipped, $2,OOO,OOO of
exchange would have to be created. If So
600 tons of iron were shipped, $1,000 900 of
exchange We have four Banks and will be
within two hours of the makers of this exchange,
aud large part of the money will be paid out
III this place. 1t is certain then that three
fourths or nine-tenths of the exchange will go
into our Banks. This is exclusive of the profits
OF mining which will acrue TO such owners of
mines reside in this State
The following data as to quantity OBJ
tanned from Prof Bnlmons, (as he had them
from actual neasurInect Of the different veins in
the Shaft at Egypt) and the cal culations were
made IN his preseuce aud had his approval
The first vein reached, of iron ore, is the
nrgillaceons oxide, feet thick and about $50
feet from tue surface. This will give Is, ,O00,-
600 tons of ore to the square mile, which will
yield 6, 600, 600 tons of railroad iron, and that
at $40 per ton would yield $240, 100000
Seventy feet below this is u vein of Al feet
coal, then Black Band ore, then coal again,
then Black Band, making liz alt six feet of
each,,or 10, 600, 600 tons Black Band and six
million tons of coal Black Band is the ore
from which the cele brated Scotch pig iron is
made, and it has never been discovered (out of
scotland) except on Deep River. Eighteen
million tons of this will yield 5000, 600 of
Scotch pig, now worth in n York $32a per
ton bnt put it at $40, and we have 1920, ,O0O,-
600. The 1000, 900 tons of coal at So per
ton Git is now worth in Charleston $I2 would
be forty-eght millions; making in all $4OS,-
000, 600 in value and Is, ,0GO, coo tons of trans
portation for ore sqHare mile; and the Professor
thinks that from 60 to 100 square miles are SO
underIaid
Hear what he says to the facilities for the
manufacture of iron Deep River from this
coal and iron.
"But one word more respecting facilities for
the manufacture of iron upon the Deep River.
1t has been supposed that Pennsylvania must
enjoy monopoly in the manufacture of this i'll
dspensabie metal, in consequence of the extent
of her possessions, and the vast amount of
anthracite which she can employ. Of the ex-
tent of her resources in this respect no can
doubt. She make iron cheaply by her
anthracite, but no cheaper than it can be made
Oh Deep river by bituminous coal or coke; and
coke made iron will be as good as that made
by charcoal, in consequence of the purity of
the bituminous coal on Deep river. And in
the manufacture of coke, 1 believe products
of distilation may be obtained which will
more than pay the cost of making the coke
But this is matter to be tried and does
not properly come in for consideration now
What wish to say Is, that in the coal of
Deep river, the manufacturer has all the ma
terial he can want for this purpose: and as
better article of iron be made from Goa,
than by anthracite, then, in a district of equal
extent North Carolina has advantages over
Pennsylvani, for the manufacture of iron. Tn
proof of 4hs, l repeat that she has lst The
peculiar ore of the coal aeld 3D. The mag
netc, specular and paleozoic rocks iu in1medi
yIy,,IfV