The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-02-02
LYNCHBURG.
The & reat Iron Exctte,nent.

I propose 10 kINt sO-UaN sOuut I<Sts "u"
srures, which VIII probably as'onish the
readers Of the ~ ,spdtch, as TO the magni-
pde OF operate ms In iron.ores IN thls sec
non, especially in the James-River valley
both below ar II above Lynchburg. inese
ores are OF ups magnetic and specular ktno,
,dApted TO 10 c manufacture direct oil steeii
snd their : .reat richness ~uhuShc
having bee me known to the lfon-"oIkeIs
d rcnns y~lysuia, The result uSs pee"
that IN "on 10 virginia mas soul-
mcnced. which has already iesu''eu III
heavy investments, and wn'cn PROMISES
great things for this seCuoh' Mo"es =
rsad1 IN take up all these iands ST goou
re and indeed. the prices are now be-
sor inc speculative, increasing in some IN
y, 80 q, q ratio which reminds one OF the
/, tvor.mine speculaiions OF Nevada and the
.,SAtSvrr al California. The thing to be
regretted s ibst these
oR,s ARE BENG SHIPPED AWAY
instead Of worked here. Virginia would
men GET fhe fnll benefit OF her treasure.
Pr, furnaces will be built as soon rs the
chiffon Forge connection is completed, so
The, rheap coal can be had. and THIS valley
vii then become a beehive OF busy indus
Try. Of which Lynchbulg VIII be the CEN
,re. have grouped together some OF me
facts Of the case rs far as developed, whtch
c,npo, fail TO interest all who love virginia
and desire 10 sec the revival OF her material
nrosperity. The statements, think, VIII
he found correct as far a they go.
The Edgar Thompson Steel WORKS, OF
Pittsburgh, have made
INTENSIVE PURCHASES AT GREENwAY,
IN the river below Lynchburg, and have
entered into contracts for a very large
o~uantity Of ore. TO be delivered a; their
works. Mr.. Andrew Cansgue, a member
Of this wealthy concern, was here Il few
doys ago examining the mines with a view
Of making further purchases.
Mr.. Dunlap aud his associates have
bought the StaplctoD Mills property, below
Lynchburg, the maud" mine, and a
number Of other neighboring non proper
ties. They are mining quite extensively
and shipping TO the Edgar Thompson Com
uany ria the canal and the virginia Mid
land railroad. Their contract, | believe,
covers two or three hundred thousand tons.
General Grub, representing the mil
lionsire Colemsn estate OF Pennsylvania,
has purchased a hali-interest in the Num-
ford IRON Works Of this city, and also sOme
valuable properties below Lyucbburg, for
which he is to pay
ABOUT y HUNDRED THOUSAND DOLLARS.
This property j. at or near RiyerviIle.
Mr.. Poole. representing himself and other
Pennsylvanians. has purchased %, 900 acres
Of mineral land near Buchanan, for which
they paid $4,000, Astounding in the richest
s~pecular ore. which they will mine on an
extensive scale for shipment. and are already
al work. They will build a railroad OF about
a mile and a half in length from the mines
10 the canal.
MIR. Jesse Adams, the w%ell.known con-
tractor, and others. have leased one or two
mines at Greenway, and are mining and
shipping largely.
The James.RiYer Steel and Iron Compa-
ny-GeneTal Hartranft, Of Philadelphia,
president-have bought for about 800, 900
the rolliDg-mills four miles above the city
have put them in thorough repair, and N 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 large
bodies OF orchards, from which they will
draw their raw metal.
Several other parties, representing large
capital, have also bought or are negotiating
for valuable properties on the river, the
particulars Of which | am not able to give
in this letter, which will probably aggre-
gate more than a quarter Of million OF
dollars. These parties have already paid
many thousands OF dollars on their
The celebrated Mayors OF Bos-
ton are believed 10 be interested in these
purchases.
Messrs. Farley Il Read, OF Pennsylvania, |
are working several mines below the city,
and have large contracts for ore.
Mr.. II. p. Mason, superintendent, is ship
ping some 1000 or 1900 tons OF ore per
month from Pittsville, Pittsylyania county,
to the Pennsylvania Steel Company. These
are BesSemer ores,
YIELDING ABOUT sIXT F CENT. OF METAL.
The Arcadia Iron-Works Company, it is
said. have entered into a contract with
Aessrs. Station d Son, Of Buchanan, for the
delivery Of 1900 tons Of ore on the canal.
to be trars ported north, which will occupy
more than a year.
In this county (CampbelD. on the line Of
the Virginia Midland railroad, eighteen
miles from Lyncbburg, extensive deposits
manganese have been discovered, which
are now being operated by The Messrs. Ro-
.bertson, OF this city, who have been pioneers
m working up the iron interests Of this Sec
ion.
To this list Of operations and operators
could be added, but for the present
forbear,
As an evidence OF the
iAPID INCREASE IN PRICES OF MINERAL LANDS
u this section | give the following in-
among many others:
one piece OF property recently sold for
5000, and before the deed was executed was '
'esold for $4,000. {
Another property sold for $50, 900 which
lew months ago could have been bought
or one third the money.
Another sold for 5000 900 which the past |
changed hands at $4,000. I
Another sold for $1,000 for which the '
'Wher paid $3.50; it could not be bought I
for SO, 900.
lhe'e facts and figures could be extended ,
uVo a much longer list, but these sample ,
'Ases viii show how .
TIE "BOOM" Is BOOMING. !
Other portions OF the State must feel a !
Fely interest in these developments, for all n
oflons OF Virginia will to . greater or less
alent share In the benefits which they i'm J.
art. 49, U
iDe negotiations which have been made. !"
7 "hlch are now pending and sOon 10 be =
Dhtummaied. will, | am credibly informed.
the sun Of one million dollars. I
TELEPHONE.