Wilmington daily gazette., 1872-12-11
BOARD OF TRADE.
MEETING LAST ACKNOWLEDGEMENTS OF THE
In 4 FURNACE PROJECT.

MEETING LAST EVENING DISCUSSION OF THE !
In 4 FURNACE PROJECT
An unusually large and interesting meeting Of
the Managers ana members Of the Board OF Trade
was held, last eveningat the rooms IN the Masonic
Temple. The main feature Of this meeting, IN
which the chief interest was centered, was an Ad-
dress by George H. Seliars, Esq, IN response to
the inquiry, "Is Wilmington good location for the
manufacture Of pig iron." Shortly after clock
Preston Lea, Esq, Vice President OF the BOARD,
called the meeting to order, and immediately in.
troduced Mr.. Selars, who read all interesting and
carefully prepared reply to the above inquiry,
which we publish elsewhere, in full.
The address was listened to with close attention
throughout, and ut its conclusion, the President
stated that this was an informal meeting. and he
would be glad to hesr the views of other members
on the subject
Mr.. Geo,g G. Lobdell said that Mr.. Sellars had
stated what he always believed, that Wilmington
was n very desirable location for iron furnace.
He was willing to unite with others in the building
of furnace here, and knew OF no reason why it
should not succeed. With regard to his mines IN
North Carolina, he could not, as yet, give the fig
ures at which ore could be delivered here, from
them, as the Railroads in that State were still III
an unsettled condition, and though he had inquired
of their tmanagers. they could not inform him
what rate per ton would be charged Iron ore is
plentiful in that State, and ut no distant day this
section would be largely supplied from there. He
thought that MIR. Sallars had conclusivey demon
strated the feasibility OF establishing furnaces
IN this city.
In relation to the transportation of ths iron
ore from North Carolina, MIR. Sellars stated that
the Railroad Companies there would ship the ore
for n cents per ton per mile, which would bring
it to klchmond or Norfork at a reasonable charge
| from which points it eau be easily and cheapy
ought to this city This would enable US 10 re-
ceive here at less, rates than the furnaces in
| Eastern Pennsylvania receive it. The ore from
North Carolina is also OF a superior quality, and
t,Cil Iva an ahnntk a,if nfi
| while Pennsylvania ore yields but 40 per cent
Mr.. II. NJ. jenkins asked what were the average
profits, per ton, OF the Pennsylvania iron men.
| TOR the last six months
Mr. H. Mendenhall replied that tho buyers
| think 1t must be about $25 per ton.
Mr.. jenkins said that it had been stated that
Mr.. Henry s. Eckcrt, of Reading, made the diff.
| ference between SIS and $54 per ton, but on
hearing this Mr.. Eckert denied it. and said that
| ''the profit was more than it should be-"
| MIR. I-obdcll said that another advantage pos
sessed 10y this locality, as location for an iron
furnace, was the choice Of fuel. We can readily
secure unlimited quantities of either bituminous
or anthracite coal, the latter of which he consid
cred the cheaper, as our excellent railroad facili
ties place us in direct communication with thu
extensive mines Of Pennsylvania.
Mr.. Geo. W. Stone said that Mr.. Lobdell hat
given utterancc to the most practical remarks o
the evening. in expressing his willingness to joiI
in the establishment of furnace here. He ast
inquired the probable cost, and If sOmethin!
could not be done Immediately in this direction
Mr.. Lobdell stated that he had expressed will
lingncss to enter into this project, but he did no
wish il entered upon without that spirit whicl
would insure success. To build first-cass fur
mace, and put it in working order, would take
capital of from 300, GOO to $2500OO.
On motion of Mr. Stone, n vote of thanks wa
extended to Mr. Sellars, for his kindness in ad
dressing the Board.
lie also moved that the Board request cop
of the address, for publication in the next annuc
report.
After the adoption Of this resolution, the Boar
adjourned
. DAILY MEETINGS ON CHANGE.
Eighteen members and several visitors wer
! registered a, the meeting to-day. The follow
!, ing receipts and shipments were recorded.
, SHIPMENTS.
e One hundred and thirty tons of coal. ten tol
y of pig iron, 26,733 feet Of lumber, 200 kegs
. nails, 46 barrels Of -four, 1896 pounds and
tons Of merchant iron, 1894 pounds OF rag
# AGO boiler tubes.
10000 pounds ofpuIp, one car Of fmerchandis
: 6,S97 pounds Of paper, 2S barrels Of snuff "
) carriages. $500 pounds Of rags, ll07 pounds
talow, GOO barrels Of flour, twelve tons Of me
: chant iron.