The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1889-04-25
IRON GATE.
A HOMER INDUSTRIAL CITY.
Organization of The COmpany-T CHAR
Aeter of the Management-The solid
Basis of the Scheme-Efs Assured Sue
cess-what it Forctelis tor Virginia.


ces.-what it Forctelis tor Virginia.
TIE entire capital stock, 800, 900, of the
Iron Gate Land and Improvement Com
paDy having been taken, tie stockholders
met at Clifton Forge on the 18Th, and or
ganized by the election of the following
Oflic rs:
President-Jo5. E. Throp3, of Phila-
delphia:
Vice President and General Manager
Jacob Y ost, Staunton;
Secretary and Treasurer Fred. Col
burn, Clifton Forge.
Directors Jos. D. Weeks, Pittsburg,
Pa; Pliny Fisk. Now York city; II. I.
Wic1ham, Richmond. Va; E. G. Best,
Ronceverte, w. Va; r.. ]. Parish. Gov
ingtcn, Va. II. G. Parsons, Natural
Bird 70. Va; NJ. A. Rife, Roanoke, Va;
Z. M Netlleton. Allegheny county. Va;
Geo. H. Poindexter, Richmond. Va, and
q. H eman, Allegheny county, Va.
Executive Committee r.. l.. Parish.
E. NJ. Nettleton and 0. Hileman.
The meeting was largely attended by
stockholders; the proceedings character
ICED 10y the utmost good feeling and the
officers elected by reclamation.
Thu two per cent necessary to become
legal stakeholder had been previously
paid in and call has been issued for is
per cent additional, making 20 per cent.
of tie sock subscribed payable on Or be-
fore the lst of May.
Ga S .turday, the 20th. a share or two of
the stock WAS sold at Clifton Forge for
$l35. with inquiry for more at same price,
which could not be had
| We are not surprised at this. or all the
| improvement organizations We have noted
in Virginia and the South, there is not
one of them that is more solidly based OF
that has been organized with such studio
avoidance of the sensational, or what may
| be called the boom craze. The stock
was subscribed after a truthful and eau
tious statement of the real facts upon
which the project is predicated. There
was not representation made that the
actual condition would not sustain and
bear out. The full confidence OF each
subscriber in the legitimacy of the enter
prise and the solid bed rock of its advan
tages, was obtained by a candid, intelli-
| gent and clear statement of the Intrinsic
merits of the scheme. and the reasonable
profit it assures. Consequently every
| Ial. 20 I;.,,l. {,n Of hne
the implicit confidence of each share
owner, and.each believes that it is going tC
be- a success.
1t does not require an argumt Mt to for
tify these conclusions. ~ mere statement
of the location and it's advantages, sup.
plemented by the character of The mel
who have the enterprise in charge, would
OF itself warrant public confidence. 1t is
project that deserves success for there i:
demand for it. An industrial town il
the centre of one of the richest iron dis
| tricts OF the country is not unnatural
The stranger thing is that one has not y!
ready been bnlt up. With four or five
furnaces. turning out from 200, 600 TO 800,
600 tons of pig metal year. il would seen
reasonable that there should be industrie,
to appropriate the products near by Why
not roll the metal into bars and convert
it into the finished product in the vicin
ity and then place it on the market, IN
stead of sending Off the pig to other local
tiles TO be manufactured and then brougE
back to he sold TO consumers
S, the first plant that will be established
will BIZ 500 600 rolling mill. The fouu-
dation for this will be commenced at once
as arrangements have been consummatet
by which complete establishment will
be removed to Iron Gate. That will b,
followed, no doubt, by a nail factory ant
other enterprises which will seek asSoca
tion with and the advantages of location
which will command access to markets il
every direction.
1t will be gratifying TO the stockholdoIf
of the company and all interested in thu
enterprise, to learn that on Tuesday las
the manager was notified that the repre-
sentatives of the Rolling Mill compan,
would lie on the ground at once TO selec
the site for the mill.
Did we think it necessary to popular
understanding of the mineral interests OF
the immediate region around Iron Gate
we might quote from Prof. J. l.. Camp,
bell, the abb, st struc, ural geologlst hi:
country has ever had. aud other eminent
scientific writers, to show its resources
and possibilities. But the fact that there
are now four or live furnaces in operation
within the district, is ample evidence t(
prove the value and abundance of The
ores. The practical business point HOW il
to utilize the product of these furnaces
right in the neighborhood. The first stel
to this has been taken in the rolling mill,
Others of kindred nature will follow in
the immediate future.
Iron Gate is peculiarly adapted to q
manufacturing as well as a residence cen
tire. Its ample water power; its topo
graphical situation: its relation TO Clifton
| Forge, which is to be the great workshop
of the Chesapeake and Ohio railroad, as
well. as the terminalpoint of the Black Dia
mond road. cutting across the coal meas
ures and the forests of West Va. from
Parkersburg, thus making it the centre OF
three railroads, accommodating Il vast
traffic and developing the marvellous nat
ural wealth Of the territory penetrated.
| Every ton of trade conveyed to Clifton
Forge, and every dollar invested there will
have salutary effect upon Iron Gate and
contribute to its growth and prosperity.
| When it is considered that there is not
a rolling mill within that entire iron dis
| trict-that there is not a factory related to
the iron interest, within ifty miles of il
that the whole region is virgin and uu-
| developed, both as 10 its mineral, agricul
| tural and timber resources. some idea may
! be formed OF The possibilities of the noun
tain city that has been inangurated under
such promising auspices.
1t is not alone as an Industrial city that
Iron Gate is destined to attract attention
! and invite capital. Nest led among the
mountains and commanding picturesque
view of the most charming natural scene
~ that eye ever Toasted upon. it combines
natural advantages for summer resort