The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-03-28
A Great sacrifice OF Property.

Our dispatches announce the sale in
New York yesterday of the well known
IrondaIe Coal and Iron property, situated
in Preston county in this State, familiar
to many Of our readers as the George
Hardman furnace property-a property
that cost 100000, and that was knocked
down yesterday for the Insignificant sun
Of $4,000. To appreciate the extent oi
the property sold for this paltry price,
we may refer to the fact that it incIud,
ed l,l2O acres Of land, 22O OF which are
under cultivation, the remainder being
covered by heavy growth Of valuable
timber. 1t ia also underlaid by three dis
tinct workable veins OF good coal, three
four and eight feet in thickness, respect.
lively.
"There are in close proximity to the
bituminous coal three separate beds oil
iron ore, OF the variety known to miners
~ "clay iron.stone," 80 largely in use in
English furnaces, ranging from 90 inches
10 4 feet in thickness, and so easily mined
that it can be placed at the furnace stack
at 81 25 per ton. In juxtaposition with
the iron belts arc limestone suitable for
-iluzing purposes, tre.clay and building
sandstone, suitable for constructing fur.
naces, ovens, &c, Among the permanent
structures and improvements erected for
the most part by the company are one
hot'blast furnace, 80 feet stack, II % bosh,
two blowing engines, so horse power,
made by Sweeney & Son, Of Reading; hot.
blast apparatus, 2S.ieet stoves; 4 miles OF
railroad, 4S3 gauge, sidings, switches, 55
and W pound raj, well laid and ballast
ed; one saw.mill, turbine wheel, circular
saws, carpenter and tool shop complete:
foundry, including cupola, molds, cast.
ings, patterns, etc; machine and black.
Smlth shop, with lathes, drills, etc. 10
workmen's dwelling. houses, double and
single gardens attached, in good order:
store.houses, engine.houses, Offices, sheds
coking pits, trestles, and all the tram.
ways, drifts, openings, stables, and other
structures and excavations necessary ior
the operation and maintenance OF an ex
tended production and shipment Of iror
and coal. The works were laid out
worked and enlarged under the immedi
ate supervision OF one Of the larges
manufacturers, the whole expenditure OF
the property being upward OF $70O0OG
Wehave been informed that Mr.. Hard
man could have sold this property at one
period during the flush times Of 1925
for a sum that would have paid all hi
debts and left him in independent cir
cumstances, but like Col. Sellers he saw
millions" in it, and held on too long
Just before the panic he was negotiating
another sale, and it was on the verge Of
contamination when the crash came. II
will be remembered that in few month";
after that calamity fell upon the country
Mr., Hardman failed, and that soor
thereafter he sickened and died.
The sale yesterday shows how ickl,
indeed is the goddess OF fortune. Foui
years ago iron was selling at price thai
made the IrOndale Furnace property
look cheap enough at what it cost
sloONOO-and yet after persistent adver,
Using II is now virtually given away,
This shows a great lack Of confidence in
u tue future Of the property, for certainly
II iron can bc made at any profit what.
ever at ifondale these times, the property
was worth much more than 1t sold for
yesterday. It's for the lack Of confidence