The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-10-09
Sale of Mineral Property

The Charleston, w. Va, Star says that
Capt. II. A. Camm, of that city, has
just completed the sale of the ssGrey's
Run property, adjoining Victoria
furnace and the city of Goshen, belong
ing to E. A. Packer. No. /, Broadway,
New York, the anthracite coal king of
New York city, to an English syndicate
for the sum of 100000.
This is another evidence of the great
value Of the mineral deposits of Angus
ia, Rockbridge and Allegheny counties,
and that the fact is being recognized
abroad in the large amount of capital
being invested in them. The great iron
centre of the United States is west of
Staunton and between Staunton and
Covington, Va. The quality OF the ore
is attested by the success of the Long
dale and Lowmoor furnaces, and their
extent is indicated in the purchases
which have been made within the past
year, as that of Ferroll, $40, 900; Packer
property, 100000; Douthat survey,
100000; Rich Patch, $780, and other
properties, aggregating several hundred
thousand dollars more. These are
exclusive OF the holdings of the
Longdale and Low Moor companies.
1t will not be twelve months, we pre-
dict, before some of these properties,
recently purchased, will be re sold for
| double what they have commanded, and
the establishment of enlarged iron
| plants, as well as steel furnaces adapted
to the Basic process. The vast mineral
wealth lying between Goshen and Gov
ington is just beginning to attract at
tention. There is not its equal in the
Union as to quality, quantity and the &C.
feasibility OF the ores, and the presence
of other elements essential in the manu-
facture OF iron and steel are assured.
And 1t has only been touched. There
are but four or five furnace plants in all
that region, to represent this immense
mineral district, while there is enough
ore to keep in blast hundred furnaces
for an indefinite period of time. The
whole country is turning it's eyes in
that direction, and day by day prospec-
tors and investors are coming in to ex-
anime with a view to purchase.
We learn that the Rich Patch Com
pany has completed the grading Of the
bed of the railroad to connect that
splendid property with the G. & o. i'm
dediately west of Low Moor When the
track shall have been laid the Company
win be ready TO ship ores to meet all
demands. 1t Is only a question of
demand. The supply Is inexhaustible,
the ore easily mined. of excellent quail
ty, and can be placed on the market as
cheaply as from any other mines in
the South or North. When the vast
iron ore resources of this section are
fully known, and the advantages for
making iron at the lowest eAat have
become familiar with iron workers and
capitalists, the plants will be erected on
the grounds to utilize the products OF
the mines, to be followed by other indus
tries related to the iron interests There
is not a foot of ground within reach of
the railroad that will not be in demand
and especially at the points where
efforts are being manifested to build up.
TOWNS. Goshen, iron Gate, Clifton
Forge. West Clifton Forge, Low Moor
and Covington will all grow in proper
| tion to the manufacturing interests es-
tablished, and one continuous town,
alive and active with the light of fur
mace fires and the hum of machinery,
will greet the passer- by as he looks over
this wonderful mineral section.