Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-11-17
I N IRON AND COPPER INVESTMENT.
In 1876 the incorporators Of the
NORTH STATE MINING COMPANY

In 1876 the fncorporators Of the
NORTH STATE MINING COMPANY
began the examination and development Of the mineral
wealth Of North Carolina and, after five years of labor
and expense became satisfied that they possessed
OF rich and valuable mineral properties. that only
qured railroad to 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 grant special charter for mining railroad
and telegraph purposes This charter was granted
February ii. 1881. incorporating the North State Min
ing Company. Under this charter the company have
acquired very valuable privileges power to buy and
sell mines and mineral lands to the mining
and reduction Of all its branches construct
railroads and ete0raDh lines connecting its Nth
trunk tes OF railroad and telegraph lines, and for the
purpose of constructing said railroad and hlegraph
tines, 1t has 7Ower to issue bonds to the amount of
S25. 600 mile The capital stock of the company is
$40 OOo divided into 400 600 shares of par value
$25 per share.
In Stanly 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,
r1ch and fertile SOIL covered with heavy growth of
timber 1t has numerous of gold quartz upon it.
and about 300 acres Of aurferous gravel which yields
numerous fine nuggets and coarse gold. The company
also own and operate a large aw-mn n connection
with the mine.
In Ashe County the company have large 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 ia
fully equipped with modern machinery and has
already produced large quantity rich and valuable
ore.
PROFESSOR EMMoNs. late State Geologist Of North
Carolina PROF. KERR State Geologis of North Caro-
lima; PROF. 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 grade
hoO nf
per lodes in this country.
When the smelling furnaces are finished the daily
present yield of this mine is estimated as follows:
Thirty tons of per day average 20 per cent cop
per ana $4o IN gold and silver will equal 3d. 900
per day, and average 800 days the year. will equal
S9oo oOO gross earnings year. When the shaft
Is hnlshed, and crosscuts made to the vein, the
output can easily be doubled and by the end of the first
year the mime Will be earning Gore averaging as at pres
ent) over 81, 500, 600 per year.
The Soapstone quarres. Kaoln 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 acres of fertile lands
covered with heavy growth of timber, and also in
cludes water power of about 800 horse power.
1he addition Of railroad transportation only
Qutred to turn these iron mines into a bonanza Of
fcedlth.
PROF. KERR. State Geologist OF North Carolina re-
fers to this property in his report TO the State in 1875
on page 267 Vol He concludes bis remarks by say
ing: This is manifestly ironreion and worthy of
thorough investigation"
The value OF these magnetic iron ore beds cannot be
easily estimated. at the lowest ulaon there is in
sight sufficient to last for 100 years. with an output
OF 800, 900 tons year. n.y.
The company preparing to build line of railroad
that Will 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 as the
CAROLINA, VIRGINIA AND NORTHWESTERN RAILROAD
and Will connect at the most feasible poiHt with the
Chesapeake and Ohio Railroad in West Virginia thus
giving d1rect communication with the Ohio Valley and
the Northwest and at the same time the construction
Of the railroad from Jefferson to Wadesboro will give
an outlet south to the Atlantic Seaboerd
Judging from the present average Of ora frcm tsa
Copper mine. 1t Is estimated that DIVIDENDS TO the ex.
tent Of TWO AND oEEHALF g. SOY DOLLARS Per share
can be paid during 1882 The compilation Of the COM
panies railroad by 1883, win give . market to their
valuable deposits OF MAGNETIC IRoN ORx, which win
enable them to pay DIvDxNDs OF It least FIVE C$5 OO
DOLLARS per share.
THE STOCK OF THE COMPANY CAN BE OBJ
TANNED THROUGH ANY REPUTABLE BROKER
CONNECTED WITH THE MINING EXCHANGES,
AT THE CURRENT NARKETR RATES
Maps pamphlets and full information be obtained
at the Company's ofice. No. 81 Broadway. New York
City. n8-t ks-6s
Jas. :. BR1rs. rnunrp.
t'' NTH 3 7k sEsf pHE SSDRHHwrsr.
Orders sodcifed. se-sms