Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-11-19
! N IRON AND COPPER INVESTMENT.
In 1876 the incorporates 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 re-
quired railroad to enable them to pour into the pockets
Of their stockholders Thousands of dollars of dividends
The principal properties being in Ashe County,
from sportaton the Legislature of North Carolina
was asked to grant special charter for mining railroad
and telegraph purposes. This charter granted
February H. 1884, incorporating the North State Min
ing Company. Under this charter the company have
acquired very valuable privleges power to buy and
sell mines and mineral lands to cayrD the mining
and reduction Of ores, all its branches to construct
railroads and eteraph lines connecting its mines nth
trunk lines Of railroad and telegraph lines and for the
purpose Of constructing said railroad and telegraph
times, 1t has pOtcer to issue bonds to the amount Of
$25, 600 MILE The capital stock OF the company
&c. 0O0 O0O divided into 400 600 shares par value of
$25 per share.
In stanly County. % miles from Salisbury. on the
Piedmont Air Line Road in North Carolina is the we'll
known Crowel Gold Mine, which is well equipped and
developed The estate consists Of $50 of land
rich and fertile SOIL covered with heavy growth of
timber 1t has numerous VEINS of gold quartz upon it.
ana ABOUT 3OO acres OF aur1erous gravel which yields
numerous fine nuggets and coarse gold. The company
also own and operate q large saw-min 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 is
fully equipped with modern machinery, and has
PROFESSOR EMMoNs, late State Geoloeist Of North
Carolina; PROF. KERR, State Geologist North Caro-
lima; PROF. J. II. McCHEsNEY, Mining Geoogist
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
value and that by the character and grade
OF the ORE 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 as follows
Thirty tons of day; average. 20 per cent cop
and $40 in gold and silver per ton will equal 49, 600
per day. and average 800 days to the year. viii equal
S9Oo uOo gross earnings year. When the shaft
Is finished, and crOsscuts made to the vein, the
output can easily be doubled and by the end of the
year the mine will be earning averaging at pres
ent) over 81, 500 600 per year.
The Soapstone Quarries Kaolin mines and Mica mines
are situate about four miles from the Copper Mines
the way to the Magnetic iron beds.
The estate consists of l. 600 of fertile lands
covered with a heavy growth Of timber and also in
cludes water power of about 800 horse power.
The addition Of railroad transportation is only re-
Qtttred to turn these iron mines into a bonanza Of
ceatth.
PROF KERR, State Geologist of North Carolina. re-
fers to this property in his report to the State in 1875
on page 267 Vol 1. He concludes his remarks by say
ing: This is manfesty an iron region and worthy of
thorough investigation"
The value of these magnetic iron beds cannot be
easily estimated at the lowest calculation there is in
sight sufficient to last for 100 years. with an output
of 3OO 600 tons a year.
The company are 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 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. it is estimated that DIVIDENDS to the ex
tent OF TWO AND oNE-HALF (S25O DOLLARS per share
can be paid during 1882. The completion of the COM
panies' railroad by 1883. will give market to their
valuable deposits of MAGNETIC IRON ORE. which will
enable them to pay of at least FIVE S5 O
DOLLARS per share.
THE STOCK OF THE COMPANY CAN BE OBJ
TANNED THROUGH ANY REPUTABLE BROKER
CONNECTED WITH THE MINING EXCHANGES
AT THE CURRENT MARKETRATES
Maps, pamphlets and full information can be obtained
at the Company's Office, No. 50 Broadway New York
City. INST t. ks-6t