New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-11-10
financial.
Am IRON and COPPER
INVESTMENT.
In SIC the ineorporators Of the
NORTH SFAFB MIyIpG CO.

began the examination and develoI OF the mineral
wealth OF North Carolina and after Ave Of labor and
expense satisfied they possessed OF rich
and valuable mineral properties that only required railroad
enable them pour into the pockets Of their stockholders
thousands of dollars of dividends
The principal properties being In Ashe County remote
from transportation, the Legislature Of North Carolina WAS
asked to special charter for mining railroad aud tee
graph purposes This charter granted February III,
1881 Incorporating the North State Mining Company Under
this charter tho company have acquired valuable PRIV
leges power buy and cell mines and mneral lands to
carry mining reduction OF ores in all Its banobes
TO construct railroad and telegraph lines connecting Its mines
with trunk lines Of railroads and telegraph lines and for the
purpose constructing said railroad and telegraph lines
has power bonds the amount OF $4,000 per nile
The capital stock of the company s00O0OOO divided into
100000 shares of par value of S25 per share
In stanly County 90 miles from Salisbury, on the Pied
mont Air Line Road in North Carolina is the weuknown
Crowe Gold Mine which Is well equipped and developed
The land rich and fertile SOIL
covered with heavy growth Of timber 1t has numerous
veins Of gold quartz It, and about 300 acres OF
gravel which yields numerous fine nuggets and coarse gold
The company and operate aarge sawr in connec
ton with the mine.
In Ashe County the company have largo tracts OF mineral
land Among them very valuable Copper mine carrying
gold and silver which Is property OF $50 acres covered
with heavy timber This mine Is fully equipped with moden
machinery and has already produced large quantity Of rich
and valuable
Professor EMMoNs, late Geoloqst OF North Caro-
lima Professor KERR State GeOogst OF North Carolina;
PrOIe5sOf j. H. MCCdESNE1, OeolOBlst "<AAif@As
HAMILTON, NJ. e.. Professor II. N. EAMEs, have made
most favorable ports about this mine They concur in the
belief that 1t gives indication of great commercial value and
that by the character and grade of the promises to De
Of the best paying copper lodes in this country
When the smelling furnaces finished. the daily present
yield OF this mine estimated oOws Thirty tons OF ore
day 30 cent copper and $40 in gold and
silver per will equal 50 900 per day. and average 300
days to the year. will equal 100000 gross earnings per
year When the shaft finished and crosscuts are made
TO the output easily be doubled and the end OF
the first year mine will be earning lore averaging at pre-
sent over Sl,s00,000 per year.
The apstOne quarries Kaon mines and Mica mines are
situate miles the Copper mines on the way to
the Magnetic iron beds
The consists 1000 Of fertile lands
covered with heavy growth Of timber and also includes
water power of about 800 horsc-p power.
The addition OF railroad transportation only required 10
turn these iron mInes into a bonanza OF wealth
PROF KERR Geoogst Of North Carolina refers to
this property report in 1875 page 267
Vol l. He concludes his remarks by sayngi This Is mani
testify iron region and worthy OF thorough Investigation"
The value magnetic iron beds cannot be easily
estimated lowest calculation there Is in sight sufficient
last for 100 years with an output Of 100000 tonsa
year.
The coupany are preparing 10 build Of railroad that
will connect their with the Ohio Valley and at the
trunk line from the Northwest to the South
east. This road viii be known as the CAROLINA Wiz
GINA AND oRTH-WEsTERN RAILROAD, and VIII
connect feasible point with the Chesapeake and
Railroad Virginia thus giving direct communi-
cation Ohio Valley and the Northwest and at the
ams time the construction Of the railroad from Jefferson TO
wadesboro will give outlet south to the Atlantic Sesboard
Judging from the present average Of ore from the Copper
mine il estimated that DIVIDENDS to the extent OF TWO
AND oNE.HALF $3.50 DOLLARS per share can be paid
during The completion Of the companies railroad by
1883 will give market their valuable deposits Of AG
NETIc IRON ORE, which will enable them to pay DIVI-
bends OF at least FIVE $500, DOLLARS per share.
THE STOCK OF THE COMPANY CAN BE OBJ
Tanned THROUGH ANY REPUTABLE BROKER
CONNECTED WITH TIKI MINING EXCHANGES
AT THE CURRENT MARKET RATES.
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