The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-11-20
A GREAT BIG BONANZA,
is WHAT THE COMPANY ORGAN.
lied YESTERDAY
c lain 10 Have SeCured-The Tonnes
see Valley lion and Railroad
Company.

The Tennessee Valley Iron and
Railroad Company organized today BY
electing j. @. Nicely president, J. B,
Killebrew OF Nashville vice president,
John Overt ton, ir., secretary and treas
urer, and the following B 7ard of Di-
recsors; II. WeIter, w. r. Moore, j.
I. Fareason, j. r. Goodwin, and the
following named Nashville capitalists:
j. B. Killebrew, L. w. Cole and Sam
Cowan. The capital stock was fixed
at 81, 100000, all of which
has been subscribed by the
following named stockholders:
OF Memphis. 7. Fargason,
J. G. Nicely, W. R. Moore, ]. NJ. Phil
lips, 5. II. Brooke, G. w. Schultz, H.
NJ. Nicely, II. Wetter, ]. R. God win,
John Overton, jr., aod s. Katxenber-
gers Sons. The following Nashville
gentlemen are also Interested: E. W.
Cole, ]. 81. Aiken, president of the
Safety Bank; NJ. A. Spur, president
Of the Commercial Bank; A.W. Wells,
DIR. Richard Day, Sam Cowsn'
K. F Jackson, Frank Porteifield,
] B. Killebrew and w. j. Whitth9lne'
No stock wi be offered for sale, aud
inquiry on Change yesterday dsvel.
oped the fact that the stock has already
a nominal value of l60 and that there
is none for sale even at that figure. 1t
is reported on reliable authority that
$50 was offered yesterday and de-
clined. A prominent officer of the
company, Wee President K,llebrew.
interviewed by an APPEAL reporter,
said:
The company own
7l,7O0 ACRES OF IRON
and timber lands, containing what is
thought to be the best deposit of
brown hematite iron ore in the South.
The lands are situated in Wayne
county, Tenn, in the great western
iron belt midway bet ween E'ns Fur
mace and Sheffield, about twenty miles
from the lst'er place and seventeen
from the former. The tract owned by
the company covers an area of l20
square miles. For timber and iron
ore we claim that there is
NO PROPERTY EQUAL TO IT
anywhere. Analysis of the ore found
there shows that it contains 54 per
cent. OF metallic iron, requiring less
than two tons of ore to make one ton
of iron. 1t contains no sulphur and
is comparatively free from salacious
matter"
Have these mines ever been
worked before?"
Yes; from 1886 to 1873 there was
a furnace in operation, and the pro-
duet was used by the Gaylord Iron
Company, of Covington, KY, for man.
ufacluriDg gas and water pipe, and |
coneidered superior for that purpose
10 any iron manufactured In the South. |
The supply OF
TIMBER IS PRACTICALLY INEXHAUsTIBLR,
yielding about thirty cords to the
acre, large portion of it good for saw
mill purposes. Among other timber
is an abundance of chestnut oak, from
which large quantities of tan bark can
be obtained. The supply Of wood for
charcoal will be enough to run three
furnaces OF fifty ton capacity each for
an indefinite period.
The amount OF ore imbedded there
will probably never be sscertained, as
it contains go vast an amount of iron
that any number oil furnaces will make
but little impression. Il is the nearest
deposit Of iron to Sheffield where it is
in the near future by
prominent ca iyalists to put up five
arge furnaces o. $50 tons capacity
each, and there is no sort of question
hat these furnaces must look to us for
arge supplies of ore.
How about charcoal ?"
at is the largest charcoal property
n the South, if not in the world, and
IS resources are practically illimit-
sble"
"Are you going 70 put up G fur
1ace2"
Yes, afifty ton furnace"
"H0w about railroads; is it con-
by your company to bui!d a
"Well, as to that, we are not yet
prepared to speak,"
After more conversation to the
anne effect the reporter lefs Mr.. Kiile-
Drew jubiant over the prospects of the
which certainly promises to
prove bonanza to those interested,
t all that is claimed for it by it's pro-
ectoTs is realized.