The comet. (Johnson City, Tenn.) 1884-1916, 1889-11-28
The Embreeyille Company.

blhtilSHts ASKING lOL euuoCllpbiOHS W
the stock Of the Embreeville Freehold
Laud, Iron and Railway Company,
with an authorized capital Of G4S0,000.
The issue is GS90,000 in $4,000 e5
shares, Of which $4,000 shares are pre-
ference shares entitled to an per
cent cumulative dividend The price
of the property, j. G, Miller being the
vender, is G140,000 in cash, prefer
renee shares or debentures and $1,000,
ordinary shares A debehture issue
is authorized, not exceeding 100000
from which, or from the preference
shares, $4,000 will be reserved for
working capital "and for enlarging
the business beyond the limits man,
ed in the prospectus" The company
are to purchase the Embreville estate,
on the Nolichucky River near Jones
borough, Tenn, containing about
AZ ,445 acres of freehold, agricultural,
timber and iron land, including the
well-known and almost historic
Greasy and Bompas coves, the town
OF Embreeville and the railway con-
Meeting the same with the East Ten
nessee trunk line at Jonesborough." "
Thomas Watson, G. +. and NJ. f., OF
London, appears as one of those who
have made reports on the proper
ty, which is valued as follows: $780,
$50 for the freehold land, G250,000 for
the iron mines, furnaces and other
improvements contemplated, G45O00,"
and railway, G95,000; total f709, $50.
The annual net income "should ex-
ceed EAT 900 per annum," as follows:
Timber, 100000 feet B. NJ. per
annum without essentially
reducing the supply ....e e S,012
Raw ore, 10000 per year, at
profit 81 per ton ........ 1886
Charcoal pig.iron, 1900 tons a
year, at profit of $40 per
ton. n.....,...................24 "a, ,64S
Other income, estimated . 1000
Total ..................... G59,046
Less cost OF management =. 5000
Estimated net profit, independ-
ent of profits from railway or
from farms or town lots EAT ,046
This would be sufficient to meet all
: the fixed charges, to pay dividend OF
s per cent. to the preference shares
! and to leave more than per cent for
3, the ordinary shares to be carried to a
reserve fund or declared as dividend
}, The cost OF mining and loading ore
into cars at the mines is SO cents per
/ ton. The cost of production of char
5 coal pig is about $12 per ton, and the
: selling price at Embreeville varies from
t $40 to $40 per ton. 1t is now about
t $26 so, at which price it leaves net
profit $3.50 per ton.
= We quote further:
The iron-ore deposits are practically
), inexhaustible, and sufficient to fur
IS nish more than 800 tons day for an
indefinite period by the simple pro,
Il cess OF quarrying above the water,
( level from veins of red and brown
\ hematites, GO feet widv, and contain
N ing 55 to 60 per cent. of metallic iror
almost free from sulphur or phospho
rus.
- The Embreeville charcoal iron hai
" not been surpassed by any in tn,
Of country, 1t ranks with the Spanish
u and Bilboa iron now imported into
= the United States at great cost ant
"a under high duties.
* All the charcoal required for tn
er use OF the property
- "A The American iron trade will watcl
w this rivalry with keen interest Tn
plans OF the company are thus outlin
ed
1t is the purpose oil the board TO prC
vs. ceed at once to put in order the work
now existing on the estate and t
"a erect new and improved furnace
.= pending the construction of the raj
way, which will require but fey
months, and for which all the survey
and estimates have been already com
pleted, and in all respects to place tn
property in condition to earn
profit from the start. 1t is believe
'A that all the works can be constructe
within four months from their con
mencement, and that with prope
management net profit sufficient
. Justify the dividend named will /
earned during the first full financi
- year.
. 1t looks like good bargain for tn
sellers.
HOw's ThiSs
We offer One Hundred Dollars R
ward for any case Of catarrh that ca
not be cured by taking Halls Catarl
Cure.
FL. CHENEY & CO., Props,
Toledo, O.