Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-11-10
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 labor
and expense became satisfied that they
OF rich and valuable mineral properties. that only
qred railroad to enable them to 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 H. 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
ana reduction Of Ores in all its branches; TO construct
railroads ana telegraph lines connecting its mines icith
trunk tines Of railroad and telegraph lines and FOR the
purpose Of constructing said railroad and telegraph
tines. 1T has pOcer to bonds 10 the amount Of
S25 900 per mile. The capital stock of the company is
So GEO. divided into 400 600 shares Of par value
$25 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 acres of land
rich and fertile SOIL covered with heavy growth of
timber 1t has numerous veins of gold quartz upon it,
and about 800 of aurferous gravel which yields
numerous fine nuggets and coarse gold The company
also own and operate a 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 lis property of
$50 acres covered with heavy timber. This mine is
y
already produced large quantity of rich and valuable
ore.
PROFESSOR EMMoNs, late State Geologist OF North
Carroll IA; PROP. KERR State Geologist OF North Caro-
lima; PROF. j. H. McCHEsNEY, Mining Geoogist
WALTER HAMILTON. M. 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 it promises to be of 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; average, 20 per cent cop
per and $40 in gold and silver ton. viii equal S. 600
per day. and average 300 days to the year. will equal
$500 900 earnings per year. When the new shaft
is finished and cross-cts made to the vein, the
output can easily be doubled and by the end of the first
year the mine will be earning Gore averaging at
ent) over 81, 500, 600 per year.
The Soapstone quarries. 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 of fertile lands
covered with heavy growth OF timber, and also in
cludes water power of about 800 horse power
The addition Of railroad transportation is only re-
CURED to turn these iron mines into bonanza Of
,cealth.
PROF. KERR State Geologist of North Carolina, re-
on page 267, VOL /. 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
sight sufficient to last for 100 years. with output
of SOC. 600 tons year.
The company 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 ct 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 ut 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
tent of TWO oNE-HALF (s2 500 DOLLARS per share
can be paid during 1882. The completion of the
panes' railroad by 1883. will give . market to their
valuable deposits of MAGNETIC IRON ORE. which will
enable them to pay OF at least FIVE
DOLLARS per share.
THE STOCK OF THE COMPANY CAN BE OBJ
TANNED THROS1H ANY REPUTABLE BROKER
CONNECTED WITH THE MINING EXCHANGES.
AT THE CURRENT MARKETRAT
Maps, pamphlets and full information can be obtained
at the Company's Office. No. 50 Broadway, New York
City. n8-t &s-6t