Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-11-08
An IRON AND COPPER INVESTMENT.
n 1876 the incorporators Of the
NORTH STATE MINING COMPANY

NORTH STATE MINING COMPANY
began the examination and development of the mnera
wealth Of North Carolina. and after five years OF labor
and expense, became satisfied that they possessed
OF rch and valuable mineral properties. that only re-
qulred railroad to enable them to into the pockets
OF elr stockholders thousands Of dollars of DIVIDENDS
The principal properties being in Ase County, remote
from portation, the Legislature of North Carolina
was asked to grant special charter for mining railroad
and telegraph purposes. This charter was granted
February IL, 1884, incorporating the North State MIR
ing Company. Under this charter the company nave
acquired valuable privileges; power to buy and
sell mines and mineral lands, to CARR on me ah0
and reduction Of all its branches to construct
railroads and teie0TaDh lines connecting ats mines rath
trunk lines IF railroad and tete0Tdp h lines, and for the
purpose Of constructing said railroad and telegram
lines it has 7o,eer to issue bonds to the amount Of
s25 900 per mile. The capital stock of the company is
sl0 co., divided into 400 600 shares Of value of
SIS per share.
In Stany County, % miles from Salisbury. on the
PIEDMONT Air Line Road in North Carolina is the we'll
known Crowell Gold Mine, which is well equipped and
developed The estate consists Of $50 of land,
rich and fertile soil, covered with heavy growth of
nmber 1t mas numerous Of gold quartz upon it,
anu bout ooO acres OF alrferous gravel which yields
numerous fine nuggets and coarse gold. The company
also own and operate a large sawmin N connection
with the mine.
In Ashe County the company have large tracts of
neral land. Among them a very valuable COPPER
mine, carrying gold and silver which is property of
500 acres, covered with heavy timber. This mine is
fully equipped with modern machinery. and has
already produced large quantity of rich and valuable
PROFESSOR EMMoNs, late State Geologist Of North
Carolina; PROF. KERR, State Geologist OF North Caro-
lima: PROP. j. H. McCHEsNEY, Mining Geologist,
WALTER HAMILTON, NJ. E.; PROF. r. NJ. EAMEs have
made most favorable reports about this mine. They
concur in the belief that it gives indication of great
commercial value, and that by the character and grade
OF the ore it promises to be of the best paying Cop
per lodes in this country.
When the smelling furnaces are finished the daily
present yield of this mine is estimated follows:
Thirty tons Of ore day; 20 cent cop
per and $40 in gold and silver per tOn viii equal 3d. 900
Per day, and average 800 days to the year. will equal
$90o 600 gross earnings per year. When the shaft
Is hnlshed and cross-cuts made to the yein the
output can easily be doubled and by the end of the first
year the mine will be earning Gore averaging at pres
ent) over 81, 500, 900 per year.
The Soapstone quarries Kaolii mines and Mica mines
are situate about four miles from the Copper Mines
the way to the Magnetic iron ore beds.
The estate consists of 900 of fertile lands
covered with heavy growth of timber, and also in
cludes a water power of about 800 horse power.
The addition Of railroad transportation is only re-
CURED to turn these iron mines into bonanza Of
tcedlth
PROF. KERR, State Geoogist OF North Carolina re-
fers to this property in his report to the State in 1875
on page 2e7, VOL He concludes his remarks by say
ing; his is manifestly iron region and worthy Of
thorough investigation.
easily estimated at the lowest calculation there is in
sight sufficient to last for 100 years. with output
of 800 600 tons year
The company are preparing to build line Of railroad
that VIII connect their iron mines with the Ohio Valley
and at the same time be trunk line from the North
west to the Southeast. This road will be known the
CAROLINA, VIRGINIA AND NORTHWESTERN RAILROAD,
and Will connect at the most feasible point with the
Chesapeake and Ohio Railroad in West Virginia, thus
giving direct communication with the Ohio Valley and
the Northwest and at the time the construction
OF the railroad from Jefferson to Wadesboro, will give
an outlet south to the Atlantic Seaboard.
Judging from the present average of ore from the
copper mine, 1t is estimated that TO the
tent OF TWO AND ONEHALF 60. SOD DOLLARS per share
can be paid during 1882. The completion of the
panies' railroad by 1888, will give market their
valuable deposits of MAGNETIC IRON ORE, which will
enable them 10 of at least FIVE $500
DOLLARS per share.
THE STOCK OF THE COMPANY CAN BE OBJ
TANNED THROUGH ANY REPUTABLE BROKER
CONNECTED WITH THE MINING EXCHANGES,
AT THE CURRENT MARKET RATES.
Maps pamphlets and full information can be obtained
at the Company's Office, No. 50 Broadway, New York
City. nS-ttEs-6t