The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-06-07
capacity of / 500 tons, which will be

BILL d ST. CLAIR IRON ORE fROPhh-
TIEs.-$12, 900. Not yet in operation.
The Rocky Mount mine is now being
opened up, and shipments of ore Will
probably commence during the COM
ing summer. For the present, this
ore Will be shipped over the Virginia
Midland railroad, but the Roanoke
and Southern will probably be bullt
from Rocky Mount to Roanoke dur
ing the next year, and will give a
short line 10 the furnaces at Roanoke,
Salem and Buena Vista.
BUENA VISTA CoMPANY.-l0O, 900
shares of stock at $50 per share, S5O,-
900. Total capital, 1922 shares, par
500, sold ut $50 and made full pald
by act OF legislature. With this stock
bonus in town lots was given, and
the Virginia Development Company
received l37 town lots. All of these
lots have been sold since January 1st
for $4,000. The stock of the COLL
pany is now selling at about SD per
share. The profit on this Investment
in six months is, therefore, nearly
100000 at present selling price for
the stock, and there is every prospect
of largely increased profits. Inc
BueFa Vista Company has assets
which at Il conservative estimate are
today worth 5000, 600, to represent
S7s2, 200 worth of stock, clear OF all
other liability. After a large amount
Of its assets in the shape OF town lots
are sold Off, and the proceeds palu
out in dividends, the company Will
have enough value left in its magnl1i-
cent iron ore property, another me
town site at the northern end OF the
estate, and its interests i'll manufac-
| turing establishments, to represent AT
least the par of its present capital
stock.
BuENA VISTA IRON CoMPANY.-5OO
shares of stock at par, 500, 500, 900,
| About 100000 capital subscribed,
which will probably be increased to
$3.50, 600. 4 furnace l6X70 feet is being
built rapidly, with capacity OF ia
tons per day, which will probably be
| in blast in September, 1880. There is
an abundant supply of ore of excel
lent quality from the mines of the
Buena Vista Company, within one TO
three miles of the furnace; which
have been leased on a royalty OF 10
cents per ton OF ore. There IS lime
stone of the best quolity within q few
miles, and coke can be obtained from
Flat.top. New River or Connellsville
| fields. Iron can be made at low cost,
and this furnace should yield large
profits. Ii has unusually good advan-
tase. Tor reaching many markets Tor
pig iron.
SALEM IMPROVEMENT COMPANY
SAC. 600. Total capital of this com
panv. $500. coo. Salem, Roanoke coun'
ty, Virginia, hasa present OF popuia,-
ton OF about 2 800, has severai hotels
and manufacturing Establishments,
and also the wcil-known Roanoke
College. The Salem improvement
| Company acquired about LOCO acres
of desirable land for town purposes at
about ;lG0 per acre, situated between
Che present town OF Salem and the
| Roanoke river, on both sides OF the
Norfolk ard Western railroad. On
| December nth, 1889, the COMPANY
commenced selling lots, aud in week
had sold upwards of :3JG,OG worth.
Onlg 20 per cent. was called on the
stock OF the company, and dividend
lof 80 per cent. WAS declared out OF the
proceeds of the sale, and, Instead oil
| distributing the money among the
stockholders, it was applied TO pay
lug the remaining 50 per cent. on the
stock. and the full paid stock was is
sued. Tie stock Of the company has
- 81 er,I,t I,ii 't-s
TO $50. par. SO. The Virginia Deve,
loplnent Company sold LEGO share>
! for Sl1. COO cash. and small lots are new
changing hands at from $50 10 $50
| There has been wonderful activity
ut this point, and Ut the present time
there are ten or twelve other land
companies surrounding the original
company. Large amounts of money
have been raised by all these com
panies, and they stand ready today
to offer great inducements TO manu-
featuring enterprises which will locate
at Salem, in the way of cash subscrip-
tions to stock and donations of land
New industries have already been
secured, as follows: Blast furnace
tannery, sash, door and blind factory
Moves Brick Works, Philadelphia
Brick s. Tile Works, Pierpont Brick
Works, Grayeley Foundry X Machine
Works. carriage factory, ice factory
WOODEN mills, Clements Sash, Door
Blind 4 Building Factory, Wagon
Manufacturing Co., and United SILK
Manufacturing Co.
SALEM FURNACE CoNrANY.-S50,
OO0. Total capital, $3.50, 900, of which
5000. 900 is subscribed. Furnace II by
Is feet, capacity 100 tons per day, is
being built. Will probably be in
blast in September, 1890. This fur
mace has leased, on favorable terms,
q very valuable brown hematite ore
mine. within few miles of Salem.
This mine will furnish at least half
the ore for the furnace, and the lower
phosphorus ores of the Cripple Creek
region can be obtained and will fur
nish n mixture which should make
pig iron of excellent quality at low
cost.
GRAHAM LAND AND IMPROVEMENT
| 600. Total capital,
$3.50. 900. all subscribed. Graham is
in Tazewell county, Virginia, and the
800 acres of land purchased by the
Graham Land and Improvement
Company are located upon the Blue
stone river, at the junction OF the
New River and Clinch Valley Divi-
sions of the Norfolk and Western
railroad, within 10 miles of the Poca-
hontas Flat top coal field, and in close
proximity to the iron ore deposits of
| the Clinch Valley. 1t is believed that
Graham will, within a short period,
become an important iron manufac.
turing centre as well as general dis
tributing point for the entire coal
field. 1t is a particularly desirable
| location for the establishment of saw
mills, tanneries and pulp mills. The
first sale of lots was held on April
10th, and $4,000 worth have already
been sold. The total cost of the land
of the company was only 100000.
The stock of this company has sold as