Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-11-14
A N IRON AND COPPER INVESTMENT.
In 1876 the incorporators Of the
NORTH STATE MINING COMPANY


began the examination and development of the minera,
wealth CT North Carolina. and after five years labor
and expense, became satisfied that they possessed
Of rich and valuable mineral properties that only re-
qured railroad to enable them to pour into pockets
of their stockholders thousands of dollars of dividends
The principal properties being in Ashe County, remote
from trans portaon, the Legislature of North Carolina
was asked to grant special charter for mining railroad
and telegraph purposes. This charter was granted
February H. 1884, incorporating the North State Min
ing Company. Under this charter the company have
acquired very valuable privileges; to buy and
sell mines and mineral lands, to CARR ON the mining
and reduction Of Ores in all its branches: to construct
railroads and telegraph lines connecting ari
trUns lines of railroad and teleGrdph lines and the
purpose Of constructing said railroad and tele0ra ph
tines. it has poucr to bonds the amount of
S25 900 mile. The capital stock of the company
$40 &C., divided into 400 600 shares par value
sos per share
In Stany County, % miles from Salisbury, on the
Piedmont Air Line Road, in North Carolina we'll
known Crowell Gold Nine which is well equipped and
developed. The estate consists of $50 acres Of land
r1ch and fertile SOIL covered with heavy growth of
timber 1t has numerous veins of gold quartz upon it.
and about 800 Of auriferous gravel which yields
numerous fine nuggets and coarse gold The company
also own and operate large saw-mill 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
PROFESSOR EMMoNs, late State Geologist Of North
Carolina; Prof. KERR, State Geoogist 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 i'll the belief that gives indication Of great
commercial value and that by the character and grade
of the 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 S. 600
per day. and average 800 days to the year. will equal
$500 900 gross earnings year. When the shaft
Is finished and cuts made to the vein, the
output can easily be doubled and by the end Of the
year the mine will be earning lore averaging at pres
ent over 81, 800 600 per year.
The SOapstOne Quarries KaOlin mines and Mica mines
situate about four miles from the Copper mines on
the way to the Magnetic iron ore beds.
The estate consists of acres of fertile lands
covered with q heavy growth Of TIMBER and also in
cludes water power of about 800 horse power.
The addition Of railroad transportation is only r.
CURED to turn these iron mines into bonanza Of
,ceaith.
PROF. KERR. State Geologist Of North Carolina re-
fers to this property in his report to the State 1875
on page 267. 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
n
sight sufficient to last for 100 years. with an output
of 800 900 tons a year.
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 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 mne it is estimated that DIVIDENDS to the ex-
tent of TWO AND oNKHALF c. SOY DOLLARS per share
can be paid during 1882. Ehe completion Of the
panies' railroad by 1883, will give q market to their
valuable deposits Of MAGNETIC IRON ORE, which win
enable them to DIVIDENDS Of at least FIVE $500
DOLLARS per share.
THE STOCK OF THE COMPANY CAN BE OBJ
TANNED THROUGH ANY REPUTABLE BROKER
CONNECTED WITH THE MINING EXCHANGES
AT THE CURRENT MARKET RATES
Maps, pamphlets and full information can be obtained
at the Company's Office, No. 50 Broadway, New York
City. nS-tt &s-6t