The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-03-09
TINE 1RoN BUSINESS rs ylnolNIA.


THE IRON BUSINESS IN VIRGINIA.
Millions Being nyested-Northern Cap
itaI Finding Good Returns.
From The Lynehburg News
Our readers, who have heard much Of
the "iron boom" OF this season, would, we
doubt not, like to know exactly what is
going on. We can tell them that more Is
doing than they have any idea Of, and
that great results may confidently be ex-
pected. We have taken the trouble to
collect all the facts and figures on the sub
iect We could, and group them together in
the following article, which 1--WE are sure
will be pleasant reading for all lovers Of
Virginia and all who desire her material
prosperity. A very large amount OF cap.
ital has already been invested and much
more Is ready to come. Pennsylvanians
have caught the Virginia fever, and ION
to the James" Is now the cry. Let them
come-they will be welcome. But to the
facts:
Extensive purchases have been made by
the Edgar Thompson Steel Works, OF
Pittsburgh, at Greenway, on the river be-
low Lynchburg, and they have large guam
tity OF ore, to be delivered at their works.
MI. Anderson Canagie, q member Of this
wealthy concern, was here few days ago,
examining the mines with theview OF max
ing further purchases.
Mr.. Dunlap and his associates have
bought the Stapleton Mills property, the
"Maudr mine, and number OF other
neighboring iron properties. They are
mining quite extensively and shipping to
the Edgar Thompson Company, via the
canal and the Virginia Midland Railroad.
Their contract, We believe, covers two or
three hundred thousand tons.
General Grub, oil Pennsylvania, has
purchased a half interest in the Muntord
Iron Works OF this city, and also some
valuable properties below Lynchburg, Tor
which be Is TO pay about $l00, 900.
Mr.. Poole, representing himself and
other Pennsylyanians, has purchased 25,-
600 acres Of mineral land near Buchanan,
| for which they paid $4,000, Astounding
in the richest specular ore, which they
will mine on an extensive scale for ship
ment, and are alreadyat work. They will
build railroad about mile and half
| in length from the mines to the canal.
Mr.. Jesse Adams, the .well.known con-
tractor, and others, have leased one or two
mines at Greenway, and are mining and
shipping largely.
| The Rolling Mills, four miles above the
city, it is known, have passed into the
hands OF joint stock Pennsylvania COM
pany. with General Hartranit as president
and Mr.. Poole as vice president, at cost
of about 100000, and they have put
them in thorough repair, and in a few
DAYS will commence. work, filling heavy
contracts for steel rails and spikes. They
have also leased in Franklin county and
on James river laIge bodies OF ore land,
from which they will draw their raw
metal.
Several parties, representing large capt.
tai, have also bought or are negotiating for
valuable properties on the river, the par
| ticulars OF which we are not able to give,
(which will probably aggregate more than
a quarter Of million OF dollars. These par
tics have already paid many thousands OF
dollars on their contracts. The celebrated
MAYORS, Of Boston, are believed to be in
terested in these purchases.
Nessrs. Farley & Reed, OF Pennsylvania,
are working several miles below the city
and have large contracts for ore.
Mr.. R. +. Mason, Superintendent, is
shipping 1000 or 1900 tons OF ore per
month from Pittsville, Pittsylyania county,
to the Pennsylvania State Company. These
are Bessemer ores, yielding about sixty
per cent Of metal.
The Arcadia Iron Works Company, It is
said, have entered into contract with
Mersrs. Station 4 Son, OF Buchanan, for
the delivery OF $500 ions Of ore on the
canal, to be transported North, which will
occupy more than year.
In this county, on the line OF the Yir-
ginia Midland Railroad, eighteen miles
from Lynchburg, extensive deposits OF
Manganese have been discovered, which
are now being operated by the Messrs.
Robertson, OF this county. who have been
pioneers in working up the iron interests
OF this section.
To this list Of operations and operators
others could be added, but for the present
we forbear.
As an evidence Of the rapid increase in
prices Of mineral lands Of this section we
give the following instances, among many
One piece Of property recently sold for
$500, and before the deed was executed
was resold for $1,000.
Another property sold for $50, 000, which
q few months ago could have beenabought
for one.third the money.
Another sold for SO, 900, which the past
year changed hands at $1,000.
Another sold for 5000 for which the
owner paid $3.50, 1t could not be bought
nov for $4,000.
These facts and figures could be extend
ed into much longer list, but these
sample cases will show that that the boom
Is q tangible fact. Other portions OF the
State will feel IN interest In these deyel.
opments, for all portionsof Virginia must,
to a greater or less extent, share in the
benefits which they impart.
The negotiations which have been
made or which are now pending and soon
TO be contaminated, will, I'VE are creditably
informed, aggregate the sum Of one million |
dollars.
The only thing TO be regretted in con-
nection with the matter Is that these ores
are being shipped away instead OF being
worked at home. Virginia would then |
derive the whole benefit Of the operations,
and Lynuhburg and the adjacent country
especially would profit thereby. But that |
time will come. Furnaces will inevitably |
be built when cheap coal Is secured bythe |
completion OF the Clifton Forge connec.
ton, and then the winter OF our discon.
tent will be made glorious summer.
Courage In Disease.
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