Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-24
OUR IRON INTERESTS.
a Syndicate Of English Iron Masters
Purchasing Lands in Tennessee.

n SynOicate OF English Iron Masters
Purchasing Lands in Tennessee.
WolyerhamptOu lEngland) Correspondence o.
the Pittsbu-g Manufacturer.
l have several times intimated that
British capitalists, who are by no
means aaventuTers, but know what a
piece Of mineral is when they look at
1t, are growing very sweet upon your
country; and ! have stated that the
dividends which certain Of them have
received would assuredly increase the
number Of investors. That my belief
was well founded, let me announce that
north Of England non and coal masters
are purchasing property IN Tennessee.
This is the fact: A syndicate has
been formed, composed Of leading
North Of England iron masters and
coal owners, for the purpose OF pur-
chasing and developing large proper
ties IN that State. Th5 estates which
have been purchased have been bought
at about 6ls per acre, and IN a region
where l need hardly tell you the
climate is healthy and bracing, the
mean elevation being about l,5O0 feet
above the sea level. The soil Is luxu-
rIantly fertile, having vineyards work.
ed by small colony of Swiss settlers,
with tourIshlng peach and apple Or
chards IN abundance. Much Of the
land Is wOode with magnificent trees
Of hickory, oak, magnolia, maple and
black walnut. Building stone and
brick clay Of good quality are found
IN abundance. A navigable river con-
meets deep water frOntages Of the es-
tate with the Mississippi
Much more valuable than these ad-
yantages are the mineral deposits.
Lead ore and sulphate Of baryta are
among the ridden treasures. Man
ganese ore, which has been analysed
at Port Clarance and shown to contain
equivalent to 81 43 per cent. of oxidc
Of manganese, Is found in an immense
deposit, intersected both by river and
by rail, while brown hematite and also
spoculaT iron ores, free from sulphur
and low IN phosphorus, are found IN
masses varying from 50 to 24O feet IN
thickness, over miles and miles Of
country already opened by railway
communication. And, to crown all,
there Is a convenient tract of country,
closely adjacent, for the erection Of
blast furnaces, where excellent noun
tam limestone 200 feet thick is availa-
ble, with $1,000 acres Of coal land, out
cropping into water-w0rn ravines in
seams twelve feet thick, presenting a
practically inexhqustible field of cox
ing and steam coal, which can be mined
entirely by drift ways, without shafts
or pumping, and where there is not
the slightest appearance Of fault in
the stratiication.
A well known Stockton man has
personally examined the estates: the
solicitors and secretary are also Stock /
ton men; the titles to the eztate are
verified with great care, and some of |
them have been registered IN Tennes- !
see State Court; the company is IN |
cprporated under the companies acts.
lS62-67, IN this country, and also under
charter from the State Of Tennessee: !
Mr.. Patterson, of Newcastle. has
proved and tested the iron ores, and |
DIR. Percy. Of the Royal School Of |
Mines, London, answering for the /
coking coal containing 6S to 90 per
cent. Of coke, and the steam coal - To I
S2 per cent. Of carbon.
The prospectus Of the syndicate has I
not yet appeared, 1t is, however,a fact /
that a board Of directors has been |
formed whose names will be a guaran- /
tee far beyond the North Of England, |
IN which they nearly all reside, of the |
bona .Fdcs Of their action, and Of the !
assured success of amy commercial Un-
dert king the responsible management
of which they accept
1 have personal knowledge Of enter
prising men who, when the non stone
Of the North Of England was discov-
cred. sold ont of Stinrlshirr and
moved northward Does this INVESTING |
by the North of England ironmastcls
m,au that by and 10y We shall hear Of |
men selling out Of the North Of Eng
lauf and investing in the more advan- !
tageous iron making country which the !
world possesses in the United States Of
American