The Virginia enterprise., 1909-10-22
NORTHERN MINNESOTA IRON MINING
COMPANY

Al Opportunity for Investment in q
Proven Nine Owned and To Be 0p-
Grated by Range Capital.
While the opportunity to "buy
stock" has never been a missing
feature in range history, the oppor
tunity for substantial investment
in proven mine so close at home
that all may investigate to their en-
tire satisfaction, controlled and OFF,
cered by men known as honorable
and successful business men, has
not for years been offered to range
investors as it is now by the North
ern Minnesota Iron Mining Com.
pany.
The incorporators of the company
which owns fifty year mining
lease comprising the west half of
the southwest and the southeast Of
the southwest of "a, $500, on a roy.
atty basis of % cents per ton, and a
similar lease on the southeast of
the northeast and the east half of
the southeast of "a, $3.50, on a roy
atty basis of 80 cents per ton, are
Senator P. r. Vail, president of the
Virginia Brewing Co., John Run.
gust, railroad contractor, DR.. c. B.
Lenont, physician and surgeon and
vice president of the First National
Bsnk of Virginia, DR.. A. W. Shaw,
physician and surgeon, Buhl, Nels
Anderson, real estate and capitalist
A. Pakkala, real estate and capital.
ist, D. w. Freeman, real estate and
mining and director First National
Bank of Gilbert, H. J. Nathanson,
merchant and real estate, and S. T.
Hamilton, Duluth, real estate. The
location of the property controlled,
more definitely noted in plat pub
lished on another page of this is.
sue, is one mile west of the village
OF Buhl, in the heart OF the Mesaba
iron range and surrounded by prov:
en- ore bodies of great magnitude,
the Steel Corporation owning ad-
joining lands on every side An ex-
penditure on the part of the pro-
moters of some $4,000 has demon.
strated the existence of mine on
the property containing two and
one-half million tons, and two drills
continue to prove the ore body to
greater depth, one hole at the pres
ent time being bottomed in ore at a |
depth of 480 feet, and two of the six
forties under lease being entirely
the fact that every foot
of the land under lease lies within
the defined iron formation makes
the possibilities of further discov.
cries very attractive.
AS soon as the drilling now in
progress demonstrates the most de-
sirable location for working shaft
it is the intent to at once commence
the work of sinking working shaft
with view to entering the ship.
ping list the coming year.
The capital stock of the corpora
tion has been placed at $4,000, di-
vided into 10000 shares at par val
ue $l.00, full paid and non.assessa-
BILE. The incorporators are placing
in the treasury 245,O0O shares of the
capital stock, 100000 shares of which
they are now Offering the public at
par, $1.O0 per share, for the purpose
of paying for explorations, develop
ment and royalties. The remainder
of the stock will be placed in escrow
until January l, 1911.
The money in the iron business
is in the mining and active working
of properties rather than in the sale
of developed lease, and in buying
the stock of this company you in
vest in proposition of proven val
ne, located directly on the line of
an ore-carrying railroad. The gen.
eral Offices of the company will be
in this city, and any information re-
garding the property may be had
by addressing the Northern Mime.
sofa Iron Mining Co., Virginia.