, 1874-06-20

hRu they boon OlHnnd undOr regular ByBtem Of
m'ni.ne, thoy Would havo required M Investment
Of s60, ,oo0 III plant aud improvements before
Hltpmonta could haYo begun, and at loagt ono
yeNr,B tlno.
ssdbl, facts aostlc auoh questions with American
capitalists md, with tho uncertainties that nt-
tond tho opening Of nov rinoB In now tliBtr5otH,
tho high rato Of torost III this country, mud tllo
1nccrtalntioH Of tariiE-oEisatlon regarding iron
1t may no question wllethor This lland-to-
mouth quick |os-tlsa flture-
doBroo, de1ensibfe.
Tho appearance OF our minea ia anything hut
pleasing. They consist sometimes Of ton or moro
irregular, clongatod pits, often very largo, and
an ,oustorly and wehtorly trond, inaponud by d
bttiko OF tho rocks. Eyerywloro ayo Eront piles
Of waste oarth aud rock, which aro often in tho
,waT OF tho minor, mud which,. in somo casos,
havo boon alRnd!ed over two or thrco times.
There aro two principal advantages In opon
works: Tirat. tho proparntory work ID nil rodrced
TO tho simplest anil safest kind Of piek-and-
shovel hanmer-n,nl-drifl, horso-a1rtl-cart buBl-
,nno-contrautors. On tho other hand, ,tntlor~
ground mining, sinking, drifting, timher1,g, nnd
elaborate mnc,inery.--nll OF which require
skilled labor and lnrgc Investments. III MI iaolnt-
cd country like Afar4uotte, the quality of labor
second advantage, alrcady nontioned. is tho
great economy IN the cost Of drilling md OK
plosiveaa, Which high stopcs In open worsB por-
init. TheRe elements Of cut nro important
tte1ne in oil mining whero hard oroH are OIL
colitteret.
siSo1s1s or THE MINING 1Awa OF MICHIGAN.
Ono Of tic iirut questions asked BY captasiat
propo sing to invest money In = mining enterprise
is in relation to tho lawa urdor which tho prop
erty IL held. These vary widely In different
portions Of tho United States. and still moro
from the elaborate and extensive mining coGoa
Of Enropo, The following synopsis is prepared
The not approved Fob. t, 1868, provides as fol-
Iowa:
Soc. l provides TINT al corporations organized
er this act shall 1'c carnhlo Of suing aud telg sued
in "ny const , of the United satSs n,ay ave seal,
htockhocrs Of eac hlall esst thur oiiccra prescribe
shsr n. t"isx, &C., , nl, 1utorno d. hs bylaws:
tlo corporation slalt nat e less than tArco that thu
articles Of ngseenent shall b. IN writing that they,
corporate ..nter tho na,no ASSUMED by tho company;
sku that no two companies shnl have tho atno
seo. 3laorItlea ,at articles Of association must 30
county tn which tile company proposes to operate.
s9c provides that the articles Of aasoe!at!on aha1
stauct md bs acknowledged by qualified person,
nna shAl tatc, tirs the purpose for which tho aa,e
~ 5 % H. tho amount 20 o. aa aos sa
busineas,oIllce and tho serm Of esisence not to
sor. provides TINT every corporation ainll mike
an annnl report IL te month Of July, containing tho
q VhH
s,1 ,,arsnnni o.,,n t,,a gnnnt ~ 5ata ; ,i, ~ H..
whic ronri sta Ia ini L; III, ~ n " tn ssrrta
nf Yrtn nns1 ,hn r1erlt ~ ~ no,uI .harn ~ ~ %
inca",l @ 1S "'oA - WV "eNA'' "4's'" s1Ae A0 10
san 4 ,,r,,s5o, ts,t III. ,,,o,.t ~ ,,r,4,, .4,,,
nbn i m,;,nI %v t.c ,,nrkhniior +; fhr prtt'. ~
nssncinion n, s,s in NJ cnun In las thnn tin mn M
nor ars s,"n M" s,ao S " AN s''o W 4''0 se ''o'''
IL" ,rnsiIes t,.nt Il .b, NH In ,wf1 IN ,o ho
funis Of tbn rnrno1nsto far any other nrnoses Iba
ttnrn at for IL ~" orirics ~ o.snriotion >
See. a a nroyiIca thSt INV Two n,s,nlera nnv oa,
meeting v giving fftrr, dayst noticr throlipl, lin
nnwe,nnafr II liz lima NH nncc nf neH}nt, o
Kec II ,royac. tai thrfra sl,aii In nj ,ant tbre.
DIRECTORS md moi ,ore tan nine ouo Of huu shall
he rcsi,lci.. Of this State.
s'c 10 rroyislsa TINT the officers slia DO chosen
IRON ani"nu tht Dtrsttofx.
nss y . rfoas sra tn @ e @ may cat IN 5he
nspiss.. o INV ,is insIoirnr .cy 'c notts his
stuek may ba told Ut public alsc!tou ''es'
See IL provides that majority Of Directors sllo
constitute q quorum. aud stockholders 1nay voto by
proxy.
&C. t9r q, annual M osc'iom % Fl ~ nirectofs
,uancc,in nr h, .,nnnoes M,, MI Iu nrn sota
inont n,as ot tic co,,,,,any's niIa!rs,
Src Ii uyitlcs fur hoi,ittp real aui 1yrao,,H e.
tae, auL 1'mits tGapnn1es to 10ouo Of lan.!.
scc 70 rroy'ea thas Tue stock shall be deemed per
oct sse 10 ne transferred Oh 'ne oooss a. tho III