Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-03-12
PEAK CREEK COAL AND IRON.
Another Big Enterprise started Here
Yesterday.


Another Big Enterprise ssnrted Here
Yesterday.
The directors OF the Peak Creek
Coal and Iron company met here yes
terday. After the conclusion of the
meeting, the books Of the company
was opened, and $100, 900 was su bscrib-
ed to the stock in few minutes.
The enterprise is one Of the most
important ever started in Southwest
Virginia, and will no doubt be high
ly profitable one. The prospectus OF
the company, which is signed by the
president, Mr.. j. Il. Miller, says:
This company, which holds q liberal
charter from the legislature OF Vir-
ginia, has been permanently organic
ed, and offers for sale q limited guam
tity OF its stock on the most favorable
terms. The organization has been
effected by the election of j. X. Miller,
OF Pulaski county, Thomas G. Blair,
OF Roanoke City, James l.. Tredway,
OF Pittsylvania county, r. b. Lake, OF
Madis~, county, E. Il. Kindred, OF
Roan0Re City, Giles Fl. Walden, Of
Pittsylvania county, w. T. Keeling,
of Danville, Samuel G. Adams, OF
Pittsylvania county, George w. Var
brough, of North Danville and w. III.
Tredway, jr., of Pittsylvanla county,
as the board OF directors, and Colonel
J. Il. Miller as president, George w.
Yarbrough, vico-president, Captain
Thomas G. Blair, general manager,
and James l.. Tredway, secretary and
treasurer.
The company has purchased for the
sum of $50, 00O tract OF $500 acres Of
valuable coal and iron land, some two
miles west of Pulaski City, Immediate
ly on the main line of the Norfolk and
Western railroad, 10 miles from Rad
ford, 50 miles from Roanoke City and
IS miles from Salem.
For two weeks force OF hands I'M
der the direction OF Captain Blair,
the general manager, has been engag
ed in opening tssthe coal and iron in
the property anu developments show
large deposits OF both. The we'll
known and reliable firm OF Lancaster
Bros, mining engineers, OF Roanoke,
were employed to survey and locate
the coal, and they have made clear
and full report, in which $3.50, 900 tons
of coal are given as the minimum
quantity. There are two veins OF coal,
the upper one from five to seven feet
thick, and the lower three feet thick.
The coal is semianthracite, has been
thoroughly tested and Is splendid
burner. The mouth OF the tunnel is
only 800 yards from the Norfolk and
Western railroad, easily approached
and careful estimates show that it
can he pls- ed on board the cars for
the small ost Of sixty cents per ton.
This Civ margin for a profit OF
from $3.50 to $3.50 per ton. The iron
is now being developed and is show
ing up in large quantities and OF a
superior quality. There are 200
acres of land in Diapers mountain,
on which the iron is located; on the
west is the Clark Summit iron mines
which are being largely and success
fully worked; and on the east is the
Clayton property OF 1900 acres, which
is rich in iron ore and was recently
purchased by a syndicate at 100000
cash, and for the development OF
which company has been organized
which will proceed to work it. The
veing of iron beginning on the
Clayton property, run through the
property pf-your company, and thence
into the Clarke Summit property.
Peak creek. a beautiful mountain
stream, runs through the land and
will be of great use in washing the
iron ore. The company takes its name
from this stream.
The sum at which the capital stock
will be placed has not been fixed, for
the reason that the developments be-
ing carried on upon the property
show it to be of greater value zach
day. The capital will not be less than
S500,0O0. In order to pay the pur-
chase price of the property acquired
by the company and to develop
and work the Same 100000 OF stock
will be issued and the takers OF this
stock will share ratably in the CAPT
talization at larger sum. Over
eighty thousand dollars have been
subscribed of this issue, and the
board OF directors invite subscriptions
fer the remaining $4,000, which
will be quickly taken, judging from
the number Of inquiries made, and
in view Of the great value OF coal
and iron owned by the company.
You are earnestly requested to visit
and examine the property. The
shares are 500 each. and will DO
sold at par for $25 cash, $25 in
two months and $25 in four months,
and S25 in six months. If you de-
sire to subscribe fill out and sign
blank and return it with cash pay
ment by check or money order to
James L. Treadway. secretary and
treasurer, Chatham, Virginia.