The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-09-04
Prospectus Of the Allegheny Mining
and Development Companv

Iron Company, the Douthatt Survey the Chesa-
peake and Ohio Railway, ana within a few miles
OF. Longdale Furnale, and lies in the centre of
the great iron ore district which has made that
immediate section prominent in the estimation
of mineral men. It's grounds are advanta oe-
ously located for improvements, such as are
contemplated. They embrace about ITO acres
of beautiful and fertile river bottom 200 acres
of table land, rising gradually towards the hills
In the back ground, and $50 acres of fine timber
landmuch oft underlaid with the best of brown
hematite iron ore easily mined and convenient
to the railroad, with a market ON the ground
IT'S IMPROvEMENTs.-There is ON the property
located on a commanding eminence, large
residence building, containing fourteen rooms,
and completed within the last year or two at a
cost OF from 49, to $G,000 There are number
of tenement houses, and q well patronized store
stand Immediately on the railway and q few
steps from the depot at Low Moor Furnace The
railroad passes through the entire breadth of the
property, dividing the bottom from the table
ands. The bottom and table grounds are eligi-
bly, located for residence, business and Industrial
sites.
JACKSON RIVER winds around the entire north
eastern limits of the tract Offering exceptional
locations for manufacturing plants. There is
gentle rise from the river to the foot hills Civ
of the property, and presenting picturesque
and attractive scene, unsurpassed in the South
A BEAUTIFUL LAKE of pure water, about
three fOurths of mile long and several hun
dred feet wide, is an additional attraction.
where fishing and boating could be INDUCED in
by those who appreciate that kind of recreation
and amusement. rt
MEDICINAL WATERs.-Thert are on the pror
erty freestone limestone, chalybeate and alum
waters, the first three being easily piped to the
residence building. and the latter oozes through
the immense mountain of alum shale into wells
or pools on the brink of the lake.
OTHER VALUEs.-It is estimated that there is
from $4,000 to $4,000 worth of splendid timber
on the premises, suitable for building purposes
and convenient to a saw-mill on the ground
The iron ore deposits consist OF two veins Of
brown hematite-lower and upper The sur
face indications of the former do not encourage
the opinion that it is of much merchantable
value, although this condition might be changed
by proper examination. The latter is believed
by experts to be 100 feet wide, runs though the
property for mile and half, and judging
from the tests made on adjoining property of
the Low-Moor Company, is over 100 feet thick
1t would come under the estimate to state that it
contains million tons of ore, which at Is cents
royalty per ton, would yield to this company a
ny would prove worth not less than 81 100000
Analyses of this vein of ore shows metallic iron
ranging from 81 to 63 per cent. and phosphorus
| 1.O3 to 1.3O
It's SURROUNDINGs.-The entire property is
bounded on either side by the holdings OF the
LowMoor and Chesapeake and Ohio Railway
| Companies and the Douthatt survey, a valuable
mineral and timber property, where the MONTH
ly pay rolls will reach to from Sa5OQD to $4,000,
| Within radius of five miles there is paid to
labor employed in industries not less than $50 coo
a month. The Investments within the limits
named reach tom S400O0OO to $5,C0O,OOO 1t lies
in the midst of one of the richest mineral re-
gions on the continent, which Is in the infancy
! Of its development, and to which capital and
enterprise from every part Of the country are
now looking. The famous Rich Patch iron dis
trict Is contiguous to 1t side; the Dou
that survey is divided from it by Jackson River.
while the Chesapeake and Ohio machine shops.
| where million OF dollars is being expended in
their constr4ctlan, and where from l,GA to l.soO
men VIII be employed, touches it on the east.
The Rich Patch Company is preparing to mine
| ores on large scale, and Is constructing rail
way to tap the Chesapeake ana Ohio Railway
immediately west of Low Moor, to give an
outlet to market, either at the furnaces already
in operation in the vicinity, or those which may
be built there, Or in the varions other markets
anxious for its products. The wealthy owner of
the Douthatt survey-some 5000 acres-will not
pssrmlit bis valuable property to lie idle, and it is
already inttiilmlateq that movements ere on foot
for extensive operations on it.
THE DISTRICT from Clifton Forge to Coying-
tan, midway between which lies the possessions
Of the AlleghaHy Mining and Development Com
pany, is already alive with industrial endeayars
looking to the development of this favored sec
Al. -1,1x11
manufactures that will make one of the most
important and prosperous Industrial centres in
the country. The Covington Land and Improve
ment Company has arranged for the erection of
a blast furnace, rolling mill. belt railroad, and
| OShsy industries adapted to the material condi-
tion which surround il. The Chesapeake and
Ohio Railway Companyis pushing It's Workshops
to completion as fast men and money can 10
it. The Low Moor Furnace turns out about 800
tons of pig iron per week. and has on it's pay rolls
ffroM 40 70 700 men. fhe Longqale Furnace
makes from 500 to GaDeons PEP waAk The CllftaA
Forge and Charter Oak Companies are actively at
work to consummate their improvements plans.
Iron Gate, where humorous large and success
I full plants, including a rolling mill and agricul-
tural machine works, are In operation, and West
and South Iron Gate Companies are uniting
their efforts to stimulate the development OF
| this septlgn and add to the active values which
are destined ned to make this the iron producing
centre OF the Unified STATES
| CENTRALLY LOCATED as TO all these thriying.
wealth predncing organizations, with natural
advantages rarely surpassed, II ever eqnaled,
the Allegheny Mining and Development Com
pany must, in the nature of things, become an
4 important and absorbing point of interest, and
| draw the means and skill essential to a phe-
nomenal success
| ppohai,lx fbaPa 10 No lOoa Jitv M, tho rhaco
peake and Ohio Railway 20 pEhtiag Of Enmantfc
and charming seeneIy-that possesses so many
natural attractions as may be found on the
| property of this Company, and where nature
has contributed SO many advantages for mate
rial Improvement and pecuniary gain. The see
merry from the splendid property is picturesque
and grand. The sweep of the vision takes in
mountain and dale for miles and miles around,
| hnd presents panora ! Of beauty and gran
deur that might weH challenge tne artists
brush, and inspire with awe the beholder as he
contemplates the Power which threw into such
sublime disorder this creation of His handi-
work, where mountain and valley and rush
| ing waters combine to form picture of such
sgrpass.ng nfaHtg Hna health assuming virtues.
A sUiMMRR REsbRRFE..No where ID the moun-
| tains Of Virginia can be found a more attrac-
tive and desirable summer resort. With COM
paratIvely little expense, additions could be
made to the already cOmmodious and beauti-
fuzzy loeafsa fes il for hotel The grounds
are admirably adapted fak IFeeievafsl and
commanding view that Is Inspiration itself
With mineral waters Immediately ON the prop
! erty, and fishing and boating on the river and
on beautiful lake, such as can be found
scarcely il any portion qf Virginia, ana in sight
Of Industrial aetlytisg anq fqf9ape Fes which
would be q constant source OF diversion and at
traction. apart from its convenient distance
from the White Sulphur, the Warm, the Hot.
and Healing Springs, it could soon be converted
into mountain home for the pleasure and
health seeker.
| This splendid property, which is in the con-
| trol Of the Allegheny Mining and Development
Company. is noW offered to the public on the
following terms and conditioner
| PLAN OF OPERATIoNs.-Th authorized capital
of the Allegheny Mining and Developing Com
pany is 600; but it is proposed to issue for
the present STOCK amounting to only one half Of
this sum. Tie ss50,OO0 Of stock, which it is now
proposed to issue, has been given in exchange
| for the Company's lands, an account Of which
is contained in the prospectus and is full paid
and non assessable. Those who received said
stock in full paymept for aad laHgiA, haye PLACED
with the Company four ffths OF ,006 thereof.
being two thousand shares of the par value Of
800 Der share unOn condition that tho 90 ma bA