The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-03-23
FLoRIpA PEosPaATzs.


Some Of the Rich Finds in Columbia
County.
LAKE CITY, FLA, March 22.-Columbia
county's phosphate deposits are being de
veloped rapidly. q
Preliminary work has been going on for
year or more, and great deal of expen-
sive prospecting, negotiating, option taking.
Analysing, ETC., have been done, the woods
at times being almost full of phosphate
hunters. And they have not hunted in
vain Vast deposits have been found and
millions OF dollars have been invested in
phosphate lands and phosphate works.
South OF Lake City and along the lche-
tucknee river in this and the contiguous por-
ton Of Suwannee county hundreds of
hands are now employed mining the rock
for shipment, and large quantities of it are
being moved by the railroads. Several
companies and some individuals are now
operating in this region.
One of the richest deposits, covering 600
acres, is owned by the Columbia Phosphate
Company of Lake City. which just now
makes its business public. Mr.. j mes E.
Young, Capt A. B. Hart, j. D. Galway,
William R. Bush and james A. Crawford,
leading business men of Lake City, and Col.
JEFF Lane, of the Georgia Southern and
Florida railway, Macon. with W. n.
Thompson, of the Florida Central and Pen
insular, Fernandina, are the holders, the
first named gentleman being president and
treasurer, the sec md secretary. They are
out a good deal of money first and last, but
'struck it rich" in the end. E. B. Bailey,
the contractor for convict labor, who is
now working a large number of hands
in the section. has leased the privilege at a
royalty Of 81 per ton for all that can be
mined, agreeing to move at least 10, 900 tons
year. 1t is 'hard rock" phosphate and
analyses from 70 to $50 per cent. phosphate
of lime, with less than 2 per cent. iron and
aluminium.
1t is accessible, of great depth, and easily
mined. But the largest deal in this section
recently has just been contaminated by the
Lake City Land and Timber Company, in
the purchase of 20, 900 acres Of land lying in
this and Alachua counties, on both sides the
Santa Fe river, originally included in the
Sir Edward j. Reed purchase, but more re-
Gently held by the Land and Trust Com
pany of Florida Gimi edl, from which it
was purchased, Col. John A Henderson of
Tallahassee conducting the transfer as
attorney for the company.
The incorporators of this company are
James E. Young, president; Judge John F.
White of Live Oak, vice president; James
A. Crawford, treasurer; A. B. Hart, secre-
tary, with V. j. Herlong of Herloag's sta
tion, j. c. Getzen of Fort White and Will
lam K. Bush, postmaster at Lake City,
constituting the board of directors; Hon,
John V. Brown of Suwannee Shoals, w. n.
Thompson of Ferna dina. Col. J. s. White
of Live Oak, j. ID. Cal away of this city
and I. W. Getzen of Fort White being the
other stockholders and incorporates
The amount of capital stock is $50, 00O
which is all taken and none offered. The
Incorporation dates from Feb % last, and
the transfer stated above was effected
March IL. The land purchased is said
to be very rich in phosphate-that is, from
5000 to 10000 acres of it. 1t will be, with
out delay, more thoroughly explored and
properly mapped as its resourt es are devel-
oped to the fullest extent As timber land
alone, it is reported the finest unbroken
body in the state, so that its value in this
particular and for turpentining is probably
much more than the purchase price, which
is not made public, though known to be large
1t lies Immediately in the great phos-
phate belt of the peninsula, and is
of excellent agricultural quality. This
company really grew out of the success of
the first named, but is separate and distinct
from and entirely independent of it. The
principal place Of business for both will be
Lake CITY, T. r. O.