The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-01-09
Roseland Iron and Coal Company.

Last week we referred to the Roseland
Iron and Coal Company, and the scheme
that has been projected to utilize its
valuable mineral possessions. Since
then we have received the prospectus of
the Company, and publish it below.
We do this as a matter of fairness, as
we have heretofore quoted from the
plans of other companies, as we'll as gen
eral public. interest. The VIRGINIAN
has great faith in Waynesboro and its
future possibilities. 1t has naturally
everything that could be desired to JUS
tify the conclusion that an Important
business centre will be established at
that point. If there was nothing else to
base this conclusion upon, the immense
mineral wealth in that locality would
warrant it. We have seen and conversed
with Il number of gentlemen from other
States, whose business brings them in
contact with Industrial enterprises, and
there is not one of them who has not Civ
en- favorable opinion of Waynesboro
including the several projects enumera-
and Importance.
The plan and purposes of the Rose
land Iron and Coal Company are so
succinctly and clearly stated that it is
only necessary to give what they say to
bring before the public the whole scheme
and its conditions:
CHAKTER.-This Company is chartered under
/ no
granted to such companies to carry on mining
and manufacturing operations.
fKOPEkrf.-ItS property consists of about 5000
acres OF land adjoining WayAeSDoro anu Basic
Clues, upon Which IL ii as placed u trust Deed TO
! LIIe FARMERS Loan and trust Company Tile
CITY OF New YORK, as trustee, to secure the sum
or $sUO,0Oo in 5-au year Coupon Bonds sou
eacn, bearing six per cent. interest, p;iyaule
SEMI ANNUALLY, embracing the eutlre ,,ueuteu-
ness OF saiu Company. THESE bonus are issued
by The Company lor Une purpose paying Tile
balance OF tie purchase price OF its property
the further development ana extensive working
Jne same.
Terms OFFERED TO INvEsToRs-Said Bonds
40J III NUMBER, Will be sold at par, 10 per cent
DE paid III cash and lU per cent. i'll monthly pay
inentS, Jhe hist falling due on The 18th uay of
FEBRUARY, 1871, but d discount OF per cent will
be allowed for cash payments i'll full The pur-
CHASER each bond will receive five shares
(souu) of uhe full paid and non assessabie sock
Oh the Company, and a residence lot 5UXl50 feet
beautifully situated on the GRAND tsOlJi,t,
,AhD III The hoseand addition to Waynesporo
and Basic Cities; the location OF eacn OF said
lots TO be determined by public allotment to be
/ OF subscription. Eacn OF said BOnus and
ti1iclteS OF stock, together with the title dee,ls
to SAID lots, Will be delivered upon pay ment
full therefor. w. T. TamS, cashier or the Au-
guSta National Bank OF StauntOn, Va, has been
appointed by the Company its agent to receive
all moneys paid for Said bonds, VINO will deliver
to purchasers OF the same, upon full payment
therefor, said bonds, certificates OF stock and
| title deeds Tor said lots.
| The land owned by this Company lies the
| Western slope OF the Blue Ridge Mountains near
the Junction of the Chesapeake and OHIO ana
SHENANDOAH Valley RAILROADS., Doln OF whicu
traverse tne property through its whole extent
the former, Eas a.. nd West, the latler, North
anu South. ThesS grand trunk lines connect
this property with the coking fields OF tocthon
las by the Norfolk and Western and Shena
/ do4n failey Railroads, OF New River by Tile
Chesapeake and Ohio railroad aud OF onneils-
Vile, "a, by Une Shenandoah Valley baltimore
and Ohio, and Pennsylvania railroads., and the
competition thus existing ensures cheap fuel FOR
the manufacture OF iron at This point Tor ali
time, and limestone in abundance is at hand.
| This property has been thoroughly developed,
showing seventeen veins OF SpecGar ore vary
ing in Width from seven to forty Ieet, extending
through the property length of nve miles, de
clareu To he practically 1nexhauStlble, while I'M
limited Quantities OF brown hematiteS, running,
dis hissn metal as any in Virginia, have been
| laid open. No ores in this country can be mined
at a lower cost than these, and the Company
claims that with these advantages it
facture ton of pig iron at less cost than il
be done anywhere else in the United States, as
| will be seen from the following estimate per
| tom
z tons of ore q $00 per ton, 500
II tons OF COKE "a $2tV per tun- 325
| ton OF siestone Ia 80 cents per ton, ...... 50
Interest account 80
InciuentalS, wear ana tear. 90