Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-11-19
In 1876 the incorporators of the
NORTH STATE MINING COMPANY

began the examination and development Of the mineral
wealth of North Carolina and, after years of labor
and expense became satisfied that they possessed
OF rich and valuable mineral properties. that only re-
qured railroad to enable them pour 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 IL. 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 in all its branches to construct
railroads and telegraph lines connecting its mines NTH
trunk lines Of railroad and telegraph lines, and for the
purpose Of constructing said railroad and telegraph
tines. 1T has to issue bonds to the amount Of
S25, coo mile The capital stock of the company
$1O OOO 0OO divided into 4OO 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 CroweN 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 large saw-mil n connection
with the mine.
In Ashe County the company have large tracts Of
mineral land. Among them a 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
already produced large quantity Of rich and valuable
ore.
PROFESSOR EMMoNs, late State Geologist of North
Carolina PROF. KERR State Geologist OF North Caro-
lima; PROF. J. H. McCHEsNEY, Mining Geoogist
WALTER HAMILTON, NJ. E. PROF. R. NJ. EAMEs, have
made most favorable reports about this mine. They
in the belief that it gives indication of great
commercial value and that by the character and grade
of the it promises to be of the best paying Cop
per lodes in this country.
When the smelling furnaces are finished the daily
foil
Thirty tons of ore day. 20 per cent cop
and $40 in gold and silver per ton will equal So 600
per day, and average 800 days to the year, will equal
$500 600 gross earnings year. When the shaft
is finished and crosscuts made to the vein, the
output easily be doubled and by the of the
year the mine will be earning Gore averaging pres
ent) over 81, SOC, 900 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 ore beds
The estate consists of 900 of fertile lands
covered with heavy growth Of timber. and also in
cludes water power of about 500 horse power.
The addition Of railroad TRANSFORMATION is onIu re-
quired to turn these iron mines into bonanza Of
.cedth.
PROF. KERR. State Geologist of North Carolina re-
fers to this property in his report to the State 1875
page OCT, Vol. l. 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 calc uation there
sight sufficient to last for 100 years. with an OUTPUT
of 800, 900 tons 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 the
tent of TWO AND oNE-HALF $3.50 DOLLARS per share
can be paid during 1882. The completion of the COM
Danies railroad by 1883, will give market to their
valuable deposits of MAGNETIC IRON ORE, which will
enable them to pay of at FIVE S5 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 MARKETR RATES.
Maps pamphlets and full information be obtained
at the Company's Office, No. 50 Broadway, New York
City. n8-t t. &s-6t
OTIISTANA STATE LOTTERY