The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-07-23
STANTON NOTES.

,
a view to locating here. Mr.. Mckay was
III Virginia several months ago. and be>
came identified with the Virginia Mining
aud Investment Company, whose min
eral property is III Augusta county. He
has had large experience i'll mining in
terests ia the Northwest, from which he
accumulated a handsome fortune, He
came on "a visit TO Captain Y d Moore,
president of the V N. & [. Co. and Capt.
II. Hilbert, yice-president and general
manager Of The Company. While here
he was taken to Mine Bank, in the south
western portion of the county, and was
so impressed with the magnitude Of the
iron ore deposit, and its phenomenal
formation, that he at once Invested II
the stock of the Company. He is Il gen
tie1nan of fine business capacity, acute
judgment and practical discernment.
and knows good thing when he sees it.
He considers the Niue Bank one of the
best iron properties he has seen, aud in
confirmation Of his Judgment has placed
money in the Company that controls it.
The Company has other mines, located
near Stuart's Draft, to one of which a
short railroad is being built, and where
a washer has already been located. A
railroad is being constructed. also, to
Mine Bank, and III six or eight weeks
will be ready for transporting ores. 1t
is the opinion of Captain HILBERT, gen
eral manager that he can easily ship
road is ready, and that when the plant
is entirely completed 1000 tons a day can
be mined The markets for this ore
will be found along the line of the Shen-
andoah Valley branch and the main stem
of the Norfolk and Western Buena
Vista. Roanoke aud Salem. and even
Max Meadows and Bristol, will literally
offer for Them as well as the Gem Fur
mace in Page county About one-third
of the Mine Bank output, it is estimated.
will be manganiferous ore, which will
readily find "a market in Pittsburgh for
spegeleisen La few months the V. M
l.
operaxion and will be working between
300 or 500 men This will make a pay
roll Of from $4,000 to $1,000 a week, dis
tributed through the neighborhood and
contributing to the business activity and
prosperity of the entire section-the re-
suit of enterprise and capital brought in
contact with natural resources which
have lain dead and unproductive from
the time when they were placed where
they are being developed, and which
have attracted no interested attention
from our own people, until the present
holders organized the Virginia Mining
and Investment Company. There are
estimated TO be in sight at the Mine
Bank three million tons of ore, represent
ing at least $60000 00 in the gross, and
assuring net profit of not less than
r.. 0G0, 900. OF course it is not expected
that this vast body of ore will be devel
oped and placed on the market within
ten or twenty years, but it furnishes the
basis from which to calculate the remun
GRAFTON that will flow to the Company
by reason of its enterprise and conf
dence Three gentlemen of ample means
besides Mr. Mckay, have recently be
come interested in the Company. and Il
is now in condition to march forward
in the W ork OF development without feal
of embarrassment before it begins to pay
Is takes a pile of money to launch {
large mining plant, and get it into active
| operation The want of capital has beer
a misfortune ia attempts Of this kind
start and equip the work. Fortu-
nately for the Virginia Mining and In
vestment Company it is now equipped
ia both these respects. 1t has at its hea(
men who know how to mine and pro
cure the best results for the least none.
aud labor 1t is headed by men who in
/ tend to make it a great success and ar
7 able to do it. And this is not the onl.
! property that could be thus utilized
The mineral wealth of Augusta count,
i is not known. But few. if any, have an,
/ adequate conception of the vast materia
! wealth which lies hidden in the noun
/ tains and valleys Such a commencement
as the Virginia Mining and Development
! Company is making may induce othe
/ similar undertakings and an era of de
velopment inaugurated that will briDs
millions of money to the county ant
State out of what heretofore have beer
/ i i ~ Ia, IL,
Allegheny county is in advance OF al
most every other county in the State il
mining operations, but even here thi
class of work is in its swaddling clothes
Iron Mountain. Dolly Ann, the Stacl
| Mines and the Rich Patch Mines arr
mining ore exclusively. To these may
be added the mines of Low Moor, Long
dale and Glen Wilton Furnaces, where
the ore is converted into pig by the
companies mining But these are mere
trifies in comparison with the vast ore
deposits which are known to exist in the
county. Similar organizations to the
Virginia Mining and Investment Com
ny, projected to handle and utilize the
productions of Allegheny, would have
the effect to hasten the construction OF
necessary furnaces, and to assure an
early realization of the fact. which the
future will demonstrate, that here in Vir
ginia is to be the great iron center OF the
country If material resources are to be
taken as the basis of such a consuinma-
ton, it requires no argument to prove
this assumption. All the essential ele
ments for iron making are here side by
side, except the capital. When it is bet
ter known that the ore. the fuel and the
limestone are all in close proximity. the
money will be Forthcoming, and it will
seek the localities where the largest
profits can be made at the least risk
We do not hesitate to express the belief
that no where else in the Union do such
favorable conditions exist for making
good iron cheap as in Allegheny, and NO
where that investments in iron interests
will be certain to yield more assured and
satisfactory profits.
There have been numerous inquiries
in Stanton as to the object and nature