National Republican., 1881-07-25
THE NEW SOUTH.
The State or VIrEiniN-Ncw Field for New
England EnterprIse aud Capital.

The state or rVIrEInIn-Ncw Field for New
England Enterprise aud Capital.
A correspondent of the Boston AdVer-
User, writing from this city to that Journal says
" There is very material uplook in mining and
manufacturing Affairs in Virginia and North Caro-
lima This Is not to be wondered at The hills are
plothoric with the most valuable minerals As no
authorized geological survey Of Virginia has ever
been made, the owners were not aware Of tho
wealth they possessed, and could not ucquaint
outsiders with whatthemselvcs knew not Of. They
had to wait until great scarcity In developed
regions set individual enterprise to exploring new
fields to meet the increasing demand for iron ore
VIRGINIA ORES RUN FROM
forty to eighty per per cent iron while am told
thirty to thirtyhve per cent Is fur average for
Pennsylvania ores. Brown hematitc, magnetic,
and other classes of iron crop out all the
state of Virginia. Besides, her hills are rich in
valuable minerals OF other kinds. The ore banks
ofPennsylvania were never so rich as these, and
capitalists have well nigh absorbed all there is Of
any value in that State Take Centre County, Penn
sylvaniu, as highly colored sample: | see 1t stated
that Mr.. Mercer, OF Boston, has placed 81 100000
there; Jamison, a Philadelphia banker, has in.
vested Sl0O0,000; the Cafnaghs, Of Pitsburg, have
located S5,OOO,OO0; the Pennsylvania Railroad
S2,OOO,OOO, and the Cambria Iron Company has paid
$4,000 cash for lease 800 Of ore land for
twelve years. All these Investments have been
made In limited time ia one county. And yet
thousands oftons Of the richer Of Virginia are
being shipped by rail to the furnaces Of Pennsyl.
vania there to combine with the poorer native
ores in smelling. lfcrude ores will bear shipment
by rail for hundreds of miles and still yield profit
the question comes up, how much greater the
profit in smelling them near the orc banks and
only shipping the refined result? The bright end
of this conundrum has just been seized upon by q
number of enterprlsing capitalists, who take the
affirmative practically by organizing the Potomac
Manufacturing Company
TO OPERATE IN ALEXANDRIA,
opposite this city, l sec that some Eastern men
ore members OF this company Inquiry has salts.
fed them that Alexandria is one of the best dis.
tributing points, either by rail or water in the
United States. No place has equal advantages
with It for the profitable manufacture Of iron and
steel, The ore abouuds in unlimited quantities
and almost unparalleled richness. Lands
are about as cheap as on the Western
| frontiers, and living expenses as light
as anywhere in the country. There can be
| no danger Of u combination of railroad corpora.
tions to cut the company Off from customers or to
cat up It's legitimate profits by exorbitant freighs.
An open outlet to the sea Is a sure and perpetual
guarantee Of reasonable freight rates. The Poto-
mac Manufacturing Company awakened the Alex
andrians from long condition of lethargy and
obtained jmc valuable advantages which were
refused TO other companies years ago and juet pre-
| Ceding her sleep. There can be no doubt but
that these privileges will act as precedent of
| great value to other companies of capitalists who
may turn their attention to this new field for in
vestment and profitable work. The results will
| show
THE SUPERIOR WISDOM OF ALEXANDRIA
in extending fostering care to: an enterprise
which will become her life blood. Other Virginia
cities will not be slow TO follow her example. II
! is happy fact for Alexandria and the gentlemen
| composing the Potomac Company that 1t possesses
stupendous advantages In the ownership of fran
| chise of great proven value, 1t will work under
process which not only very much reduces the cost
| of production, but by eliminating every trace o.
| sulphur, phosphorus, or other delcterlous sub
stance, greatly enhances the value of the article
produced II is a fact that by this process chem.
ically pure iron and steel Is manufactured from
the raw ore, and at much less cost, pound fol
pound, than by any of the old processes. 1t /,
claimed, and the results obtained guarantee the
assertion, that the process 10 be operated at Alex
andria will do much toward revolutionigng the
| iron trade of this country. The high character
and standing of the gentlemen forming the Poto
mac Manufacturing Corporation and the extent
and value of the property acquired by them IN
Alexandria and Virginia
GIVE EVERY ASSURANCE
as to the correctness of these conclusions. am
sure this company, being the pioneers, will prove
an eminent success financially. The more success
ful II proves the more speedily will It be followed
by the establishment OF other working corpora
tions and predict that Virginia will in the nex
decade take rank alongsde OF Pennsylvania in tn,
value and extent of her furnaces and their pro
ductions and that the profits to the investors from
various observable causes, will be doubly great.
do not think there is a more'promislng pioneering
field in the United States than old Virginia nov
presents. Those who first see It and take advan
tagc of the opportunities offered to invest thei
surplus means will find themselves many fol,
richer in n very limited time. Make a note of tha
| prediction"