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I OFFER to the attention of monied men of discernment, a very valuable IRON ESTATE, on the rivers Shenandoah and Potomac, in the counties of Jefferson and Loudon; for the work¬ ing of which 1 wish to form a small, but able com¬ pany, on permanent principles 5 deeming the present moment to be peculiarly favorable to its operations. The seats for such works have been viewed by practical men and pronounced good; the ore banks are conveniently situated, and the ore abun¬ dant, easily raised, and rich ; yielding iron of very superior quality, as appears from the testimony of those who have made and wrought it; there are several favorable scites ; the command of water is powerful; and the wood on twenty thousand acres of land (all of one tract) is abundant and conve¬ nient. There are few, if any, such Iron Estates in America ; and this is peculiarly favorable in situation to the seat of government, where a sup¬ ply of iron of the best quality is always in demand, and where it must be highly important to have it free from the chances of war: being also happily situated for the supply of a wealthy and populous farming country, needing such supply. 4 I know of no men, of common prudence, that have failed to amass fortunes by this business, where the ore has been plentiful and good, and the wood abundant; who have adopted the improved mode, which was first practiced in Pennsylvania, hy Mr. Robert Coleman ; who, coming a stranger into tlie country, ami commencing with nothing but his superior sagacity and activity, made by that business a princely fortune in a few years, and is now the largest owner of Iron Works in America! The annexed Constitution for a Company, hath been digested under the inspection of the most ex¬ perienced iron-masters, with a special view to cer¬ tainty in the funds, permanence of operation, and safety to each individual stockholder. In it, 1 have endeavored to make such provision, as wealthy and punctual men ought to require; providing sufficient power, and at the same time sufficient responsibility, for the officers engaged in the con¬ cern. It is drawn on such cautious and certain principles, that it depends not on the life of an individual; but may proceed with the steadiness and uniformity of a banking company, with a stock of greater intrinsic value, and with profits infi¬ nitely greater. By it 1 oiler strong inducements to persons inclined to engage in such a concern ; putting the property, with all its advantages, at less to the company (of which I wish to be a mem¬ ber) than what it would actually sell for in farms and wood lots. FERDINAND!) FAIRFAX. 5 QUERIES Answered relative to the IRON PROPERTY of F. Fairfax. Query 1. Yv r liat are the indications of abundance of Ore, and of its quality P Answer. It shews itself principally in three places, on the tops and sides of extensive hills, and also in their bowels, where broken by the river and by vallies, from 7 to 14 miles up the river from its mouth ; but is seen also in several other places on my Land. By smiths who have v • actually wrought Iron made from this Ore, it is stated to be of a very superior quality; and, from tlie direction which the vein takes, it is probably a part of the same w hich makes the Ore Bank of Keeptryste, so celebrated both for castings and bar iron ; out of which cannon are made for the Unit¬ ed States, by Mr. Henry Foxall, at Georgetown; being much better for bar iron than that. Q. 2. What sort of a stream is the Valley Run, upon which you purpose creeling a furnace, and is it not likely to he affected by dry seasons ? A. The Valley run has been thought adequate to carry a saw-mill w ith asinglc flutter-wheel,which I have accordingly erected upon it, preparatory to other works, and which is said to require much greater force of water than a furnace wheel; and from 30 to 40 feet fall can readily be had : but should more accurate information, or an appre¬ hension of dry seasons, determine this stream to he insufficient for a furnace, one may be erected at Little’s Falls, where we have a full com¬ mand of the water from the river, for any and va¬ rious kinds of w ater works, with a clear fall of 13 feet. 6 4{. 3. What is the convenience of carriage for Ore and Fuel ? A. 'Flie ore hanks are generally within a few hundred yards of the river, and in no case exceed the distance of half a mile ; and they are also near and convenient to the proper furnace seats. In the present state of the works of the Potomac Company, the river Shenandoah is navigable for flour-boats, and other boats, from Harper’s Ferry (at its mouth) through the whole extent of this property, and many miles above, a great part of the year ; and will doubless be rendered perma¬ nently so. Q. 4. Do the lands, intended for the proposed establishments, possess timber, stone, sand, and other principal materials for building ? A. They possess timber, stone, and sand for every improvement desired; and lime, in abun¬ dance and at low price, can at all times be had from other tracts in the neighborhood ; the whole country westward of the river abounding in lime¬ stone, which is in fact its substratum. Q. 5. Is there any considerable demand in the circumjacent country for tan-bark, so that this ar¬ ticle might readily be converted into money, in cutting down trees for other purposes ? A. The bark of Chesnut-oak, with which these lands abound, in the most mountainous parts, is most esteemed of any by tanners, and cannot be procured in the neighborhood, except from those lands ; and when delivered in Charlestown, from live to seven miles oft', commands a ready sale for cash, at a good price. (l. 6. H ow far will the proposed works be from Harper’s Ferry, and how progresses the United States’ establishment there P A. The proposed seites are from five to twelve miles above Harper’s Ferry. The armoury is upon 7 a very respectable footing there, ami produces arms, inferior to none, at the rate of one thousand stands per month ; and the establishment is about to be greatly enlarged. Here may readily he sold (for fuel, building timber, gun stocks, &c.) any wood which the company may choose to part with; there being no other resource from whence this place can be supplied to any great extent. (£. 7. Can pig-iron he conveyed with ease and certainty from the works to Georgetown and Washington ? A. The navigation of Potomac having for years been open, the opening of that of the Shenandoah, which is now effected, of course removes every ob¬ stacle to bearing by water to our sea-ports, any quantity of pig-iron. I will further observe, that this facility of conveyance hath induced me to sup¬ pose, that it w ould be better to place one of the forges at Vestal’s ford, (where we have command of more than ten feet clear fall, and any quantity of water required) than nearer to the furnace : because our wood-land being of about 16 miles ex¬ tent along the river, and coal-wood being the most bulky article we shall have to handle, it seems best to separate the great objects of its application; and because the scite at Vestal’s, being upon our most public road, is highly favorable to all the in¬ ferior manufacture^ of iron, such as rolling, slit¬ ting, tilting, &c. 8 . What proportion of the lands of the com¬ pany are rented out, and for what term or terms ? and what is the description of the residue of the tract, which may become also the property of the company, according to the last article of the con¬ stitution ? A. The small tenements upon the whole tract offered to the company, are so interspersed, as to 8 serve rather to protect from fire,&c. than to de¬ stroy in future the wood-land. Home are rented for lives, some for terms of years, ail under very strict covenants ; hut the leases of the most im¬ portant are already in my hands,, for the good of Hie company. That part of the tract reserved for the future refusal of the company, is gene¬ rally of the same description as that embraced in the preceding articles ; except as to the peculiar water advantages, and the ore banks. fl 9. May considerable profits be expeeted by the company ? A. I can only say, that, from frequent offers made to me for the principal scites ; from many inquiries made by me of experienced iron-masters, and from the judgment of practical men, I have no doubt that this property is capable, at a moderate expense for outfits, of as great profits as any iron- estate in America, if not as great as any in the world. F. FAIRFAX. Alexandria , January 2. 1815. 9 CERTIFICATES. February 1G, 1809. SIR, I HAVE, with great attention, examined your se¬ veral banks of iron ore, and feel myself fully justifiable in saying, that I do believe the quality to be veiy good for both bar and castings, (equal to that of Keeptryste) and the appearance, as to quantity, veiy g; eat indeed ; that you have several good seats for furnaces and forges, with al¬ most an inexhaustible supply of timber, for coal-wood ; all on and near the Shenandoah river. From my long expe¬ rience in the i on business, I trust I have some knowledge of the same, and feel no hesitation in putting my name to these lines. Yours truely, GEO. NORTH. Ferdinando Fairfax , Esq. Ferdinando Fairfax, Esq. sent to mvfurnaceby Isaac Strider’s boats, iron ore, which he tells me he dug from five different ore banks, which is verified by the appearance of the ore; four sorts I had blown in my furnace, and then a part of each made into bar ion, of which I have return¬ ed Mr. Fairfax 56 bars, 1,0,1,4, the greater part of it drawn fit for a tilt-hammer to draw into gun-scalps. The differ¬ ent kinds designated by notches as per memorandum. The above iron I return him for the ore he sent me. ROGER JOHNSON. January 4, 1809. No 1, notched on the end, Big-rock ore. No. 2, Dillows, mixed 1-3 with R. I. red 2-3. No. 3, Dillows, unmixed. No. 4, Big-rock, mixed J-3 with R. I. red 2-3. No. 5, Conner’s, pure. R. J. 10 I certify that I this day turned and welded, and beat down a hit of iron made of the ore of Mr. Ferdinando Fair¬ fax, (which he calls No. 4) and which I have marked with four notches ; and that I hardened the. same in my smith’s- shop, so as tastrike tire, like steel, with' flint. ROBERT MOORE. Bloomsbury Forge, Jan. 4, 1809. v O 7 7 T he above operation w r as performed in the said shop, in my presence. CHARLES GLISAN. This may certify, that of several kinds ofiron put into my hands, (said to be made of the ore of Mr. F. Fairfax) by Mr. James Stubblefield, superintendent of the United States’ factory of arms at this place, I found No. 5 to w r ork remarkably well, in closing and w r e!ding a gun-barrel, both as to heating, hammering, and welding. No. 1 w r as rather too hard for this purpose, though it was firm, strong iron. No. 3 did not work quite as w r ell as No. 5, being rather harder. No. 2 welded well, but did not bear as high a heat as eithei' of the other numbers above noted, being inclined to red-short * JOHN BREWER. Witness— James Stubblefield. Ilarper’s Ferry, Feb. 22, 1809. I, John Donaldson, do also certify, that 1 have tried Nos. 5, 3, and 1, of the abovementioned iron, in various wavs and at different times ; that I found all three to forge remarkably well, and w r eld well; that it was tough and strong, and bore a high heat, (No. 1, rather less so than the others) and No- 5, soft enough for any purpose ; but No. 1, though tough firm and strong, was rather too hard for gun-making. JOHN A. DONALDSON. Witness— Jas. Stubblefield, Robt. Whittet. Harper's Ferry , Feb. 22, 1809. * By reference to Mr. Johnson’s memorandum above, it will be seen that No. 2, contains only 1-3 of F. F’s metal. 11 W’c cei aiy, that in several trials made of IVJr. Fairfax’s li on. Nos. 3 and 5, at the public factory at Harper’s Ferry, we tound it work remarkably vvell, in cocks and frisns, (or pan hammers) for muskets ; being firm, tough, capa¬ ble ot a high heat, free from cracks, and soft enough for the above purposes. PETER CRANE, JOHN LINDSEY. Wi ness— Jas. Stubblefield, Robt. Whittet. Harper's Ferry, Feb. 22, 1809. I certify, that out of thirteen gun-barrels welded by me, which 1 was requested to distinguish, only one failed in the proof; but, as there were among them several that we: e not of Fairfax’s iron, and the mark's which I put on were not preserved to the last, I am not certain of whose iron that one was which failed. Given under my hand, this 28th day of April, 8109. JOHN BREWER. N. B. As well as I can now' recollect, the said thirteen barrels consisted of four of Johnson’s iron,two of Winter’s, and the rest of Mr. Fairfax’s, either pure or mixed with Johnson’s, as they were given in to me. JOHN BREWER. John Beckham. SIR, Armory, Harper's Ferry, March 20, 1809. I have proved a few barrels made out of your iron, which stood very well; the balance wdll not be ready to prove until the last of next week. Have not received any scalps from Johnson’s forge yet. I am, sir, Respect r ully, Your obt. servt. JAMES STUBBLEFIELD. F. Fairfax, Esquire. ft - ' CONSTITUTION OF THE SHENANDOAH IRON COMPANY. Article I. The stock of the company under the above denomination shall consist, in the first instance, besides the active capital, of 10,000 acres, chiefly of woodland (part of a larger tract called Shannondale) lying in one connected body princi¬ pally in the county of Jefferson, Virginia, between the line of Loudon county and the margin of the river Shenandoah, except where intercepted from the river by Worniley’s patent, and commencing at the bounds of the land lately sold to the U. States (for the use of their factory at Harper’s Ferry) and running southward for quantity; but so as to include the OliE near the Yellow-rock, and the saw-mill of the valley-run ; comprehend¬ ing, also, the range of mill-seats at Connor’s, hav¬ ing a full command of the water at Little’s falls ; also, the seats for mills or forges upon the great road, at Vestal's Ford: and also, several valuable little farms upon the river, besides smaller tene¬ ments, sufficiently interspersed to protect from fires the most valuable of the WOOD, consisting of locust; oak of various kinds,fit for plank,scant¬ ling, shingles. &e. pine, of superior quality ; chest¬ nut , fit for shingles — 1 • various other tirn- her. and chestnut-oak , for tan-bark, besides wood for fuel: all convenient to a thickly settled neigh¬ bourhood, on both sides the mountain, where all those articles are beginning to be scarce, and are now in considerable demand. Which property shall be divided into shares, at dollars each, and shall be con¬ veyed by Ferdinando Fairfax, the present propri¬ etor by inheritance, by a good deed under general warranty, and subject only to leases upon a few of said tenements, several of which, and the most valuable, the said Fairfax has bought in, unto the President and Directors herein provided for, and their successors, as trustees ; to be by them held for the use and benefit of the company, without power to convey the same, except by their autho¬ rity according to this constitution, a copy whereof shali be annexed to the said deed of the said Fair¬ fax; which shall be made when all the shares of the said company shall have been taken, as men¬ tioned below. Article II. When all the shares are subscrib¬ ed, the said Ferdinando Fairfax shall, by letter addressed to each subscriber, and by advertisement in some newspaper of the City of Washington, at least sixty days previously, call a meeting of sub¬ scribers at for the purpose of choosing directors to act in the concerns of the company for one year, and until the next stated election, and to receive the conveyances of the said Fairfax, as aforesaid. Whereupon he shall be entitled to demand of the shareholders respectively, upon each share by him disposed of, and shall himself advance up¬ on each of his own shares, a prompt payment of dollars, in a receipt of the cashier of the Dank of Colum¬ bia, (drawn to the president and directors of this company) and also, tlieir respective bonds, drawn payable to him, his heirs and assigns, and secured in a satisfactory manner, for equal annual instalments from the said iirst election of directors, each for dollars, free of interest for the time it has to run : which prompt payment shall constitute the active capital of the company, for the commencement of their operations upon the stock aforesaid. Article 111. There shall annually be a meet¬ ing of stockholders at the house of the manager, upon the fifteenth day of August, or at such other time of the year as they, for greater convenience, may ordain ; at which meeting they shall choose directors, (being stockholders) and trans¬ act such other business as by this constitution per¬ tains to them. Article IV. Every share shall entitle the hold¬ er, either in person or by proxy, to a vote in such concerns of the company as necessarily appertain to the stockholders , and such as are excepted out of the powers given to the directors ; except that no stockholder shall enjoy above votes upon shares held by him. The presence of three stockholders, besides a ma¬ jority of the acting directors, shall be necessary to form a hoard to do business, and a majority of votes shall decide all questions, except for the purchase and sale of land , the increase of stock. the further call for money , the erection of new works beyond those first determined upon, or the alteration of this Constitution ; any of which cases shall require, from the member meaning to pro¬ pose the same, notice by public advertisement, in a neighbouring newspaper, of such his intention, at least ninety days previous to a meeting of stockholders; and the voice of a majority of all the stockholders shall be necessary for a decision 16 thereupon. When the whole of the shares of the company shall be held by persons , or less, no election of directors shall be necessary; but each member, if lawfully compe¬ tent, shall have the power both of a stockholder and director; and be subject to these regulations, as far as they apply to the existing case. Article V. The directors chosen shall conduct the whole concerns of the company, until the next election, respecting the making of iron , and other business determined upon by the proper authority, and all matters naturally arising thereout, or ne¬ cessarily connected therewith ; but they shall not without the authority of the stockholders as above provided for, sell or buy land, except such as may have been given in security for debts due the com¬ pany, and sold in consequence thereof; make an increase of stock, or a further call for money from the stockholders ; erect new works , other than a furnace , a forge, and their necessary appendages ; or alter the constitution of the company. Article VI. The directors shall meet at the house of the manager , as often as, in their opinion, the interest of the company shall require. They shall appoint, from among themselves, a presi¬ dent, who shall receive and transmit all coinmiw nications, and give the casting vote at their board ; and they shall supply, from amongst the stock¬ holders, until the next election, any vacancy that may happen in their number. They shall employ a manager, well skilled in the concerns of the company, who shall reside at the works, and shall give bond and good security, in such sum as they may deem reasonable and sufficient, for the per¬ formance as well of his duties as of those of anv deputy or assistant, of his own nomination, whom the directors may think proper to place under him, and for the faithful application, according to their \ 17 directions, of all monies and other effects of the company, that may come into his hands, during the time the directors shall chuse to continue him; hut shall not vote for directors. They shall em¬ ploy an able clerk, to keep the company’s ac¬ counts ; to keep a book of record , in which shall he entered (his constitution, with any rules and regulations pursuant thereto, made by the direc¬ tors ; all transfers of shares , made as herein after prescribed ; all bills of sale of negroes, or horses, purchased for this company’s use, and descriptive inventories of their personal property, annually to be taken; and a minute-book of the proceedings as well of the directors as of the stockholders : which accounts and books shall, at all times, be subject to the inspection of any stockholder; and shall, by the directors, be laid before the stock¬ holders, at their annual or other meetings. Article VII. A committee of Investigation may he appointed, consisting of two members, at any meeting of the stockholders, to inquire into misconduct or abuses , committed under the direc¬ tory ; and to make report at the next meeting, or to call an extra meeting of the stockholders, if deemed necessary ; and they shall have a reason¬ able compensation for expenses thereby incurred, to be paid out of the company’s funds. Article VIII. The directors shall, from time to time, fix and pay the salaries of their clerk, ma¬ nager and his assistants : and make suitable regu- lations relative to the other necessary expenditures: hut they themselves, being interested, shall have only one hundred dollars each per annum, to defray expenses; subject, however, to be increased by a majority of the votes of the company. Article IX. There shall be made hy the di¬ rectors a dividend of profits , with such reservation for current expenses and contingences as they shell judge prudent, at least once a year, at a meeting 18 of Hie stockholders ; to be paid to them, their at- tornies, or written orders. Article X. All transfirs of shares shall be made upon the books of the company, by the holder in person, or by power of attorney ; according* to the forms used in transfering stock of the late bank of the United States. Article XI. It is hereby explicitly declared, for the information of members and of ot hers, and ought to be so expressed in all specialties given by the company, that no stockholder shall be lia¬ ble to the company, or to any member thereof, or to any other person, for any transactions of the company, to an amount beyond the nominal stock held therein, by such stockholder. Article XII. On the part of the before named Ferdinando Fairfax, it is further stipulated, that he will relinquish to the company, as a further in¬ crease of their active capital, the last instalment bond given to him by the subscribers, for the pur¬ chase of shares, as mentioned in the second arti¬ cle; if, when the same shall become due, the an¬ nual profits of the company, shall not have yield¬ ed, upon an average of years, after commencement of business, at least fifteen per centum , upon the money which shall, to that time, have been paid and expended upon each share: and, moreover, that he will offer the company the refusal , within five years from its organization, of the remaining part of the Shannondale Tract , w ithin the county of uefferson, at eight dollars per acre ; being tw o dollars less per acre than he has already sold a part of said tract for, not possessing any peculiar advantages: and likewise all his mines or banks of iron ore , on any lands that he now holds in the county of Jefferson; they making reasonable com¬ pensation for damage, if any, occasioned to his property, by working and removing the same, as to any tract or lot of land, not within the bounds of the Shannondale tract. 19 WE, whose names are hereunto subscribed, do en¬ gage to become members of the SHENANDOAH IRON COMPANY, according to the preceding Constitution ; and to take therein the number of shaies afhxed to our names, respectively : and we do moreover agree, that upon any failure to pay, oi satisfactorily secuie, the several sums required by the said constitution to be paid (whether to Fe dinando Fai fax or to the company) upon the shares respectively, the said ley dinando Fai fax sha 1 have the option, either to sue foi the same, or to retain the de in- quent shaies, upon paying up said dues: and, in the case of any futuie calls for money, which in the whole shall never exceed dollars upon each share, without the unanimous consent o’ the company,a fail¬ ure to pay up the san e shall sul ject the delinquent shaies to sale, by the directors , at public auction, to laise the amount of such call, after reasonable notice of the time and place of sale. 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