The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-07-23
THEY HAVE IT.
A PARTY OF AMERICAN CAPT.
TALISTS PURCHASE
THE sIGUa IRON MINES, CUBA
The Deposit Is very X ch and nil Eiea
Above TidcWater-E' IN TO be 0rOughs
To this Country fo.' Use IN Manu-
featuring Bcssen,er steel.

items to the effect that the Norfolk
and Western Railroad was negotiat-
ing for the purchase of number OF
iron mines in Cuba.
1t was stated that The intention OF
the company was to import these ores
to the United States to be used i'll the
manufacture of Bes-emer steel. 1t
was thought that yhe Cuban GRE
would mix well with chat mined il
Southwest Virginia, nd the expense
of bringing it to the nrnaccs il this
section would be yei small as The
great majority OF the ,:ars that carry
coal to Lamberts Poi are returned
empty. They might Just as well re-
turn loaded.
In the Philadelphia Press OF yester-
day was presented an article regard
ing the recent concession granted by
the Spanish government to number
of Philadelphians Ind Others to
develop the iron ano other mineral
deposits of the island If Cuba.
The Spanish government, by a
special law, has exempted iron mines
from taxation, removing the duty on
the expectation Of ores; allowed the
free entry of all machinery, railroad
and other material requisite for their
proper development-and has, both
officially and individually, assured
American representatives OF their full
support and cooperation in any
operations started by Americans.
Cuba has been known for q long
time rs having fine iron Gre, and
several months ago n company was
formed known as the Sigua Iron
Company. to develop the iron ore of
Cuba. The principal men interested
are: E. w. Clark & Co, b. Frank
Clyde, Samuel A. Grocer, John
Thomas, A. j. Dull, George
F. Tyler, Sidney T. Tyler, Henry
Lewis s. Co., John B. LenniS, Stuart
Wood, John G.. Sims, ir., F. J. Kim.
ball, Vivian Gray & Co., London;
Blake. Boissevaiu g. Co., Amsterdam;
Robert Fleming, Glasgow; Samuel
Dickson, Edmund ID. Smith y Co,
William NJ. Joyce, Richard S. Brock,
Clarence NJ. Clark, Rattle u Nye,
Cleveland; Edward q. D'lnvillers,
William Il. Tiers, j. D. Sergeant,
Virginia Development Company, Sc
cond Virginia Syndicate, Virginia In
yestment Association. The officers of
the company are: 5. Il. Chauvenet'
president; Thomas II. Graham, vice
president; George f. Eaker, secretary
and treasurer; Captain d. d. Greene,
chief engineer.
The mines are abou, % miles east of
Santiago, OH the south side of the
island and are in the Sierra Maestro
Mountains. The Sigua Mines were
discovered some time ago, but it was
not until the present year that the
owners were successful in interesting
the necessary capital 70 develop them.
The capital of the new company is
Sd. 600. 600 fully subscribed. Last win
ter a syndicate was formed by Ed
muDd D. Smith, and ii committee re
presenting the syndicate visited Cuba,
and after careful examination made
favorable report on he property On
which they held an option
The deposit of ole j. ali above tide
water, and require simply open
auarrying. The costo getting the ore
out, bringing it sh TT distance OF
seven or eight miles over the com.
panv's own railroad t., the coast, and
thence transporting il in steamers to
United States ports, will be very low:
The company's engineer has located
railroad from the mines to the
mouth of the Sigua river, at which
point it is proposed to put in a break
water and make a safe harbor for
seagoing steamers. The company
have also purchased some $4,000
acres of land in and around the mines,
giving them, in this possession,
twelve miles of seacoa st.
The company expec' TO begin snip
ments of ore early ne t year. There
are two plans for the transportation
of the ore to the Unit j States ports:
one is by means {, ocean-goiag
steamers that are cl Uttered by the
month, and the otbe-s by means OF
barges made Of steel on - new
principle, and lately initiated i'll the
Lake Superior trade OF the great
lakes. Two of these oarges are now
being constructed in New York atthe
Erie basin, and the result of these ex-
periments will be followed with inter
est by every one interested in the
transportation business.
The iron experts selected by the
Sigua Iron Company IN their report
characterize the Sigue mines as lone
immense deposit, with ore outcrop,
ping in bold and prominent lodges.
They estimate the ore termed
actually in sight," Or what might be
considered developed ore, as 100000
tons