| From the Greensboro (N. C.) Patriot |
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| May 14, 1863 |
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| 100 Shares of Iron Company Stock |
| The Magnetic Iron Company will sell 100
Shares of its Capital Stock, of $100 each, and when paid in full,
certificates will be issued in due form, conditioned to pay the holder
and owner thereof, 50 pounds of iron in the months of September and
March, annually, making 100 pounds per annum as a dividend on each
share, and no further payment or assessment will hereafter be
required, no liability incurred or debt contracted against said stock.
This Company has a clear title to about 440 acres of good land in 2
tracts of about 220 acres each, one of which is near Friendship, in
Guilford county, on which a forge with 4 furnaces is nearly complete,
with a steam engine and saw mill in operation, near to the vein and
deposits of iron ore, which are rich and abundant, with rights to mine
and take the ore on several plantations for 4 or 5 miles north-east
and south-west of the forge. This ore is first class for making good
wrought iron, -- about 100 tons have been raised, and the prospect for
an inexhaustible supply is certain. The other tract embraces
waterpower abundant for Rolling Mills and manufacturing purposes. The
charter is granted for 60 years and its provisions are adapted fully
to the wants of its shareholders. |
| Application made to me at Greensboro' for
shares, or any information desired by applicants, will be cheerfully
attended to. |
| John Sloan, President |
| {This company's works were to be
the object of the Shelby & Broad River RR, on the Broad River in
far northern South Carolina, just south of Shelby, North Carolina.
Evidently, a second location was in operation about 9 miles west of
Greensboro and of the North Carolina RR and the Piedmont RR.} |
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