New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-05-04
SOUTHERN MINERAL RESOURCES.

/
We eagerly improve every occasion which prov
erly presents itself of urging upon the people th
policy of concentrating capital and energy to the d.
q yelopment Of those internal resources which ar
alone the basis Of the sovereignty Of the South an
which are OF nature 30 broad so integral and ina
lienable, that an empire Of commercial independents
y could Be founded upon them with the firm base of
: unshakable pyramid.
We have soil and climate favoring the produt
ton 81 necessary Of civilized life, for which tn
, world must ever pay us tribute, and which ha
already made us rich the wealth given in exchang
continually pouring in through Thousand avenues
. monopoly Of supply which gives us dictatin
power, for it is the South that compels England an
other nations to treat the United STATES with sedu
Gus respect. But the soil bears wealth not alon
upon its surface, for it is rich with mineral stores be
low, as yet but partially explored and scarcel
known, but destined in time to levy new tribute
upon the nations, and to bring increased riches int
the country in payment for the metals which exist il
1 vast deposits.
We would do our part to hasten that time by re
newedy directing attention to the fact that the ALE
ghany Ridge, rocky, and comparatively nntillabe ant
unrroductive is much more valuable than the fertl
fields OF the low country, for many of the mountain
aie mountains Of money, almost bursting with thu
rich ore outcropping from their surfaces. We havs
direct occasion at this time for recurrence to this sub
ject for we wish to point attention to what is de
signed to quote from the prospectus /" shall be
Southern enterprise exclusively, the formation Of
company to work some of the richest mines in the
world, situate in the copper district of Ducktown
Polk county Tennessee, and in the adjoining county
Of Fannin, in the State Of Georgia. There is no more
patriotism in this enterprise than in raising bale
cotton for the motive is the prospect of large profit
but that consideration renders no less desirable that
II and all similar schemes should receive ready sup.
port they serve the public cause while they pro.
mote private interests.
The Allegheny Mining Company is organized
under special act of the Legislature of Tennessee
and the citizens Of the State of Alabama are those
who are now most specially interested in its pros.
perty, not single Wall street stock fnancier having
finger in the pie. The Board Of Directors is COM
posed of the following gentlemen: Captain NJ F.
Maury, o. S. N, Washington, D. c.. Robert a.
Smith and E. K. Carlisle, Esqs, of Mobile hon. W.
u. Yancey and Chas G. Gunter of Montgomery !;
Hon. Sydenham Moore, of Greensboro, Ala Hon.
W. F. Pierce, of Eutaw Ala; DR.. L. II. Anderson of
Gainesville, Ala. The latter gentleman is President
Of the company, and is at present in this city, with
open books Of subscription. The capital Of the com
pany is fixed at 100000, apportioned in $4,000
shares Of 800, the payments on which are to be
made onefonrth in thirty days after the regular or
ganzation of the company; onefourth in six months,
one.fourth in twelve months, and the balance in
eighteen months. The properties, the right to pur.
chase which within given time being secured by
contract consist of 1867 OF mining lands located
as above stated the holders agreeing let the com
paDy have them at the low valuation of 1915 900,
1926 600 to be payable in money and $3.50 600 in the
shares of the company the remaining sl25OO0 to be
appropriated as working capital Only 100000
worth of the stock is for sale to secure the
properties, place the control Of the company in the
lands OF subscribers and get extensive mining opera
ions under way.
OF the immense richness Of these mines, which has,
ndeed long been matter of general notorety there
cannot be doubt. Their working will pay almost |
fabulous dividends, calculated high as 60 per cent
IN the whole capital stock to be derived from yield
which scientific men say may reasonably be relied on
This will seem unreasonable to no one who has heard |
Of the profits Of mining in the Lake Superior
regions and in Australia who has read the reports
Of Capt Maury, of Prof. Currey of Tennessee and of
j. j. Hooper, Esq, of Montgomery, Ala who have
made scientific exploration of the mining properties
Of the company, and whose clear and practical state
ments show the lodes Of to be of immense extent
aud richness, and running in such manner and SO |
near the surface, that they be worked with the
greatest ease. Mines in the immediate vicinity in |
which the odes are thinner and more unfavorable for
operatives than those of the company, have been
worked at large profits. The yields calculated with
the above gratifying results predicated on the
present modes of smelling in the district but should
the new method of purifying the ores be adopted it
Is estimated that the go per cent dividend stated
would be increased by at least Is per cent. The Polk
county property consisting of 202 acres of the
oanys tract, has demonstrated its value for it was
lilly opened in 1884, and up to 1856 when the works
we're stopped, nearly $500 600 worth of ore had been
aised.
With the varied data from such reliable sources as
We have quoted, it seems that there can be no mis-
AXE in adjudging the stock of the " Allegheny Min
ng Company to be as safe and profitable an invest
nent as any to which capital can be applied.
FIsTIC.-The last number of Bells Life in London
hus lays down the rules under which the Champions
belt Of the English prize ring may be won and held
That any man who offers to fight all corners, at all
weights. for EGO side and fulfils his offer when
called upon to do so, within a reasonable time, not
exceeding six months after either the challenge or
othei uSue3 duo NJ utledtS Lle person OPPOSING
MS pretensions, may be considered champion Of Enc
and That he is not bound to go out of his country
o fight challenger but must fight all who come to
lis own dunghill, of whatever country or color in
resign his possession to any one ready
o undertake it. That any foreigner or colonst who
nay defeat him can only be considered champion of
England so long as he remains in this country, and
hat, with regard to the champions belt, no one can
70 allowed to remove it from this country unless he
folds it on the above terms against all corners for
hree years, or deposits its value El00 in our hands
IS security for its restoration should he not accent
ny challenge issued to him in the usual way.
The following is Heenans official cartel to Savers
New YosK, April 25 1859.
!, John G. Keenan, of the city of West Troy,
United States of America, hereby challenge Thomas
ayers, the champion of England, to fight me- in six
lonths from the time of his reception of this cha
nge, or from the date of the first deposit under it,
n two hundred pounds, and the champions belt
lie fight to take place near London, (England) and
, be governed by the rules Of the London Prize
ing
JOHN C. KEENAN,.
The New York Herald says:
Accompanying the above $3.50 were sent as the
rst deposit. 1t is rumored that Tom Savers has
riten to friend in this city, stating that the Be-
cia Boy can be accommodated as early as he can
rive in England. Heenan, however, does not in.
md to leave here before July and probably will
aim his battle at the expiration of the six months
Ter the first deposit is made. This is viewed .ie-