Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-02-15
PETROLEUM AND MINERALS.


From the Knoxville Commercial
We can look TO no surer source Of wealth
and prosperity for our State, more confident
ly, than 10 the development of the petroleum
and minerals which lie hidden in almost fab
ulous quantities in the mountains and val
leys OF East Tennessee. The fact of their
existence in these regions, few, il any, doubt,
and we feel ourselves perfectly safe in pre-
dieting that the undeniable proofs of the ex-
istence Of these great sources of wealth will
be produced in the next twelve months. 1t
may not be generally known that companies
have been already organized, and expert
enced biologists employed for the purpose of
developing these products, but such is the
fact, and matters have been so far pushed
forward, that these companies will have their
apparatus for boring, &c, in full operation
BY the first of July next. q
The whole Cumberland river basin is
pronounced by biologists one vast deposit for
these rich products: and the pecuniary adj
vantages of all liquid and solid minerals Of
so large breadth Of territory, as is known
TO be rich in a variety Of minerals, may be
left to the quiet calculations Of those who
are curious in figures, and in the net re-
suits of profit and loss" Very fortunate,
indeed, are they who have, at a comparative
ly small outlay Of money, secured the right
% these fields, and We as people, with de-
sire for our own general prosperity, must
unite in the hope that they have INDUCED in
no calculations of profit which they may not
realize.
Here, in Knoxville, we have three incor-
porated companies; the Cumberland Basin
Petroleum and Mining Company" East
Tennessee Iron, Coal and Petroleum Com
pany," and "Holston River Zinc Company"
We are enabled TO lay before our readers
some facts relative to the subject Of minerals,
rs furnished by the report of DR.. Senaca w.
Ely, Of Cincinnati Ohio, a geolegist, en-
.ployed by the first named company. This
company has secured about $4,000 acres of
land, which the geologist divides into lands
of the first and second class. Lands of the
first class, contain bituminous, anthracite
and Ignite coal, and petroleum. The city
Of Knoxville is supplied with coal from
some Of these lands, and it is 10 be hoped
that the time is near at hand when Cincin-
natl and Louisville, and the interior towns
of Kentucky, will seek in the coal Of Scott
county an article which exceeds in purity,
and other excellent qualities, any from the
bitumous fields Of the North. OF the ex-
istence Of petroleum in these lands, there
are many geological reasons to prove.
"One fact" il is said, "is worth thousand
theories" and many facts are at hand, to
prove the existence of petroleum in these
lands. Within the past twenty-five years,
number Of wells have been bored, on the
Big and South Fork Of the Cumberland
River, for salt, all Of which yielded oil in
large quantities.
Lands Of the second class, contain lead,
silver, zinc, copper, magnesia. marble, iron
and limestone.
Attention will be more strictly directed to
the development Of the iron, lead, zinc and
copper, in this class Of lands.
In relation 20 iron, DIR. Ely says "the de-
posts of iron ore in Roane county, are in
exhaustible, and of the richest quality" The
prevailing iron ore Of this region is of that
beautiful and rich variety, locally known as
the dye-stone, which produces 60 per cent.
Of iron for common working.
IL is known 10 work most kindly in the
furnace, 70 smelt easily, and 10 make tough,
soft gray iron. "This" says Mr.. David
Sinton, one of the most experienced iron
masters Of the West, is the very best in the
United States, whether for quality or profit,
in the manufacture Of pigs"
The present is n most inviting time for
persons TO engage in pig-iron making, in
East Tennessee, as the country is stripped OF
iron, and there is not now single furnace
at work in this Judicial District.
When we take into consideration the fact
that the results OF successful operations Of
this company must be an enormous addition
10 our wealth, and that their operations, as
compared TO the whole OF the other COM
Ianies that win be organized, viii hardly be
in ratio of one 90 ten, the grand aggregate of
wealth that will accrue yearly, will exceed
even the most fabulous calculation. To his
employers, DIR. Ely communicates his opin-
ION in regard 20 the wealth Of their lands
as follows: "If my .hasty, and necessarily
furtiye researches have not resulted in veri-
fying all the treasures which generous and
disinterested public may have attributed to
either class Of your lands, l am happy 70 be
able 70 state, that they have led to
thorough conviction on my part, that you
have secured enough 20 satisfy the most ra-
pacious desire for telluric wealth. In your
many tracts you have the basis for an amount
of profitable development sufficient 10 engage
the aggregate industrial talent Of your COM
pany for the next century, on objects which
are calculated 20 contribute TO your pros
perity in the highest degree"
All these regions my be made easy of
access, either by way Of the line Of railroad
which is under course Of projection from
Lexington, Ky, 70 Knoxville, or the Big
SoutirFork Of the Cumberland river, which
can be made naxigable at an expense OF
about $4,000. This project is even now
under negotiation, and is successful issue
win open the Fork from the mouth Of New
River 70 Burnsides Point, from which point
the Cumberland river is nayigable, 10 its
mouth, during nine months of the year.
ColoIFD SOLDIER SHoT.-We under
stand colored Sergeant was shot and killed
Yesterday evening between six and seven