The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-01-22


ern equisites for snccessful operation These two
furnaces could and would produce from 800 to
LOGO tons per week probably more: Should the
sugR ested charcoal furnace. be built at the mine
as by all means it should be it would cost $4,000
more.)
~ them to the fuel at Quinniinont would rsq uire
l76 miles lin round numbers) transportation.
Including even the expense of so much break
increase in freights. it would give all the roads
concerned cents ton per mile, would be a
Transporting So 50 a ton. Mining and loading,
and unloading $l0O more. Total at Quinnimont
per ton $3.50. Say it would require two tons OF
this ore to make one ton OF metal-vaue or cost
OF sa me, 800.
One and two-thirds tons OF coke at furnace at
80 90 per ton is 1857. Mote: Connellsville coke
on cars at that pace)
And even these extravagant figures give as
result:
Cost OF ore. .$9 ~
Cost OF uel,..-... 1851
LABOR, &C., per ton,. ..-........ ...........2 w
Limestone (F!ux) LOO
Interest, contingencies, &c.................. LOO
Total cost per ton at Furnace $l867
But should there be one large furnace at each
end of the line. near it, as would be proper, so
that the cars would be full freighted each way.
the rate OF freight ought not and think would
not exceed IA cents ton per mile, and this
would produce the following result: Less cost of
per ton per mile as against above calculation at
cents per mile. is 81 .68: now take this from
total 6.67-26s=$14.Oo cost at furnace at
Quinnimont on the metal made entirely from
the magnetic ores. should some OF the many
hematites, before spoken OF, be used it would
still farther reduce the cost.
At the coke furnace at the ore bank, of course,
the cost would be substantially the same, but it
would take more to market the metal.
The metal made at Quinnmont would go by
the Chesapeake Il Ohio Road to Cannelton or
some other near point for water transportation
and thence via the Kanawha and Ohio Rivers to
st Louis, Cine nnatri. or even up to Pittsburg.
So we have finally No. Bessemer iron that
can be laid down in st. Louis or CINCINNATI at
from $l8 90 to $2O 90 a ton. That made at the
furnace at the mines would go to the Eastern
markets-Baltimore and Philadeiphia-and at
existing rates OF transportation would cost when
delivered on wharf at these points about So. 80
per ton.
points named but put it ut an average OF IS 90
selling price at market, and cost OF making and
ton. and we still have q margin of $3.50 OIL eacn
ton, profit.
Producing 800 tons each week at this profit and
we have the sequel IN $4,000, each week, of
profits or over $5OU,000 per annum-and this is
exclusive OF the large profits which would result
from the operation Of the charcoal furnace.
But to my mind it is manifest that there must.
and OF right ought to be. a considerable decline
in all grades OF metal after 1880. iron can be
made profit at present rates and demands
almost anywhere, but how will it be when prices
reach a safe. sober, level? Then, only those es-
caiiy managed will pay large dividends. With
decline In prices Of product however, the cost
Of LABOR, tranSpOrtaC1On,dHQ materials IOr maKlug
q ton of metal must also come down to cores
ponding ratio, and when this occurs the furna-
ces have advocated will be enabled to make and
place in market, good Bessemer and No |. Foun-
dry pig at SIT or $500 per ton.
Venture to express the opinion here. that
whilst the prices of pig metal are too high and
must decline before very long, yet all reasoning
arrives at the conclusion that it will bs very
many years before No l. Foundry metal will be
purchased at less that $22 to $25OUa ton and
strictly good Bessemer aG from $z8 to $4,000, even
though the various dephosphorizingp process now
mercialIy practicable and valuable You will
remember in this connection that the average
price Of No l. Foundry pig in Philadelphia from
ton, and from 1870 to 1S8Oit was S285O.
Hence it is, in the light OF great decline in
prices of pig metal that the real worth OF the
property alluded to, becomes apparent, and
think again offers Inducements that must COM
mand the attention OF those wishing only to
invest in something based upon strong lasting,
substantial foundation.
1t is not necessary for me to enter into all of
the details of shipping ores from the mines to
marRet. That may be done not as the inter-
est of its owners may prompt. or as the prices
rates on our Kali Roads not exceeding those
charged by the Northern reads for such class of
freight, these ores could be laid down along the
seaportS OF the East at $500 or less per ton.
But We do not. at present, have as low rates as
obtain with you.
I appreciate, in conclusion, that ones views
when Self the wavering balance holds F" But
can say in all truth ana sincerity, that have
ldltuiuHy dttcuipLCu " ofOiO cuCA AoSoioo' oAu
to give the whole subject in its true aspect and
bearing. believe again that these are the larg-
est and most valuable deposits OF such ores, now
to be found from Maine to Florida and that they
are the mud sill, SO to speak, OF a company that
can always make iron with a profit. and that
they are located in region where such a COM
pany might have an Indefinitely profitable ex-
pansion until it would even rival and surpass
many of the mammoth concerns OF the North
and West
II in the future, it should be to your pleasure
or profit to need more specific inform alton con-
corning any OF the details herein alluded to,
will cheerfuily give it to you upon application,
if / can do so.
l beg your pardon for SO long document, but
the subjects treated are weighty, the questions
asked are numerous, and the facts are important
enough to be fully set forth, and with this apol
ogy.
Iremain, Very Truly Yours,
JOHN II. HALLETT.