Newspapers / The Sanford Express (Sanford, … / July 20, 1933, edition 1 / Page 3
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I A Summary of the Property, the Plans, and die ses of tie North CarolinfcyCoal Mining Corporation. M is''"''-' -4< PROPERTY: 4 -JT, i ./ %J The corporation has approximately 2600 »«ea of leased land and one afaw operating in Moore Canty, N. C., in what has been designated by the United States Geological Department end by the same department of North Carolina as the Deep River Coal Field, ft&e tease on which the mine is located contains 880 acres more or less and 1 has a dope shaft down approximately 60 feet in all in vain> of fery fane oitu minous coal. Mr. J. T Williams, the trail known geologist and coal mining, engineer, (about whose qualifications more is given hereinafter), estmates the recoverable coal from this vein at its present thUlcness to be 3,500 tons per acre, or approximately 3,000,000 tons from this one lease, \nd the total recoverable coal from leases owned by, (he corporation to be approximately 12,000,000 tons The quality of cool is excellent, and in the! opinion of Mr. •Williams, is as near sootless and smokefae as any bituminous coal... he has ever tested. An analysis of this coal wa made June 10,1933, by Mr. E. , E. Randolph, Ph D, Registered Che mi C»1 Engineer of the North Carolina State College, with he folliping re sults: ' • Volatile....1R.01 per ct.! , iFxed Crbon- 6946 per. to. Sulphur --1.32 per ct. Ash__*-1122 per ctj < BT.U per pound_13,800 per ct. Mr Randolph also says "Your coal' is clean and I am pleased with the an alyais—a good grade.” DEVELOPMENT PROGRAM. The equipment now in use at the mine was installed to develop and ex plote the deposit, which has been done to an extent that justifies the erection -if a plant witf machinery and equip ment adequate to handle 150 tons per shift, also a commissary with a line of merchandise adequate to care for the! needs of our employees at the mine to be located on the property. > A spur track 1600 feet in length is to be built,1 giving shipping facilities over the Nor folk and Southern Railway, ago a 500 KW electro light plant, and in gener hi to equip the property for the effici ent and eonomin mining and handling of coal. Most of the needed equip ment an be purchased in N <X There Is an abundance of timber on the prop lerty for our purposes, available to us| #p*-i»t $3.50 per thousand. The equip ment, machinery and <61 improvements: proected have been estimated by Mr. ' Williams to cost approximately $17, j 500 This plus working capital of at least $7,500.000 representa our lmmej diate needs, it will require about 60 ( days after funds are available to com plate the plant. ESTIMATED TONNAGE. It ia the hope of the management to mine and sell a minimum of 35,000 tons by June 30,1934, which should be increased by the addition of one shift to SOO tons per day, or a production of approximately 100,000 tons during our< second fiscal year.The average freight rate for coal mining in the territory within a radius of 150 miles of the cor poratop’s mine from other states is approximately $3.20 per ton, while the average rate from the mine to points within this same radius ia approximate ly $1.26 per ton, (we hope to have the latter rote reduced) thus the corpora ton will enjoy a freight advantage of approximately $2.00 per (on. This would give us a minimum operating profit, before taxes, but including all operkead expenses of $1.00 per ton. Mhlng only 100,000 tons per year .would require 30 yean to take out the -estimated tonnage from this one lease. 1LABKET: A cartful survey of :the domestic and commercial coal used within a ra dius of ISO miles of the corporations' holdings is approximately 5,000 tons per day. This same survey show the average retail priced for coal used for 1 domestic purposes and by other con sumers unable to purchase coal in ear load lots to be approximately 06.50 per ton delivered, which means that a very large sum at money is annually going out of North Carolina or coal, some of which should and w-11 remain In this state and used fed pay labor, buy supplies and to pay dividends to “ our stockholders There are several communities within trucking distance p> mine to which coal can be dfeliv ed in the corporation’s own trucks and sold at retaSH prices with Incress ■ ed profits. . THE PRESENT OFFERING: The present offering is 1,000 shares to be sold at $10 per share by the corporation without commission or oth er compensation to salesmen, and the proceeds used as hereinbefore outlined The price of additional shares, when offered, will bo determined by the - board of directors. ASSETS AND LIABILITIES: • — The corporations begins business witr no liabilites except its outstand Ing capital stock. Assuming the coal ^ underlying the one lease now* under development, estimated to be apprdxl imately 3,000,000 tons, to be' worth only $300,000,000 net (tad cents per ton with a stock lability of only $100, 000 as, if, and when the entire amount y r it outstanding, our stock wtmldhave a book value of $30.00 per share. —, .1 . ... OFFICERS AND DRECTORS: W, A .Keys, president, formerly • successful Independent coal operator In northern Pennsylvania Mr.: Keys operated under the trade name of the Keys Coal Company and had a high rating -with R. Q, Dunn A Company, fie is a man of long experience in the coal mining business and is also a sue oeeful trainees man, and has in the community where he has maided all his life a reputation unexcelled - for character and ihtegrity. T. J. Wil liams, vice president, formerly' chief engineer of the Qhamust Mining Com pany. fie was for many years a min ing inspector in Pennsylvania, and is one of the best posted coal geologists in the United States. He has been employed by some ojf the largest coal operators in Pennsylvania and West Virginia, to . open up and develop coal properties. Anyone desiring any in formation concernng the ability, expe lienee,integrity, or peneral standing of ether Messrs. Keys or Williams have their permission to address any bank or banker in DuBois, Pa. H. R. Heart man, vice president .in charge of sales and public relations, has for more than 15 years been m charge of large and sucessful sales organizations in the central West add on the Pacifice Coast. Anyone desiring any informa tion concerning his may address any. bank or banker in Des Moines, Iowa. Nelson fi. Liles, secretary and treas urer, was for seven years associated with the American Trust Company, of Charlotte, N. C., the largest unit bank in either of the Carolinas. He was educated at the University of " North Carolina and by reason of his training is especially qualified to handle the im portrait duties of secretary and treas urer. The underground mining opera tions will be under the supervision ot JE. Williams, who has. had more than 25 years of experience in Pennsylva nia, West Virginia, and Iowa as a coal mining engineer and production manager. H*.s last connection was with the Pershing Coal Company, of Dea Moines Iowa. He was with them for ten years* developed their property and took out more tran 2,000,000 tons of domestic and commercial coal, Messrs. Keys, Williams, Heartman, Idles, and D. B. Teague, will servers directors during the first year. The stockholders at their annual meeting will select their successors. Mr* D. B. Teagnue has practiced law at San ford, N. C., for more than 20 years, and represented Lee county in the leg Mature of North Carolina two terms. He has had a great' deal of corporation experience and is eminently qualified to serve (he Corporation both as di rector and genera] counsellor, having a great deal of experience in examining leases, et cetera, z SALARIES: The active officers will receive sala ries sufficient only to cover their mod cat living expenses. They own a sab »tantisi interest in the corporation —ul they expect their profits to come in the form of dividends and not other wise, which means that all atoekhold ers 'will receive their proportionate share of all dividends paid by the cor! poration. The management will oper ato thia property aa ecooomicaUy aa is; consistent with good * rntniywiM.^ which is essential for the sqpcesa ot any enterprise, and in Messrs. Keys,1 Williams and Idles, this corporation j has three men highly qualified by res son of actual experenee and knowledge of the coal mining business to justfyi the statement that no coal en Urpriseauiywhere erStt have more com! petent management, CONCLUSION: Ths stock.of the North Carolina Coal Mining Corpine) lost ia, in ~our' opinion safe as it ip possible to mate any business enterprise. The manage ment is experienced, conservative and sound Tptere is no question about the quality, of the coal, nor is there any •location about a market for coal ip its territory, and because of the advant age in freight the corporation should enjoy unusual profits for coal mmh,g operations.. The commissary alone should earn a reasonable dividend on the corporations’* entire capital stock. This offer at *10 pey share, ia subject to prior sale. v. Respectfully submitted, ~r THE NORTH CAROLINA COAL , MNING CORPORATION. Sanford, N. C. Nelson P. Idles, Sec.-Tree*_v Hotel Selwyn Charlotte" N. C.' " new. paving project It is stated that there is good reason to believe that he eigne mile stretch of U. S. No, 1 between Aber deen and Drowning Creek bridge which is the Richmond county line, will be paved at an early date.No statemen has been issued by the High way Commission to that effect but this project has been under considers tion for the past three years,and last year a survey was made over the route preparatory to paving and it is confidently predicted by those who are close to the “powers that be” that thi# eight mile strtech on Number 1 highway will be included in the first letting of contracts which it. is expect Cd trill take place within the next tan days. iw—v-rfwnsl , Courtesies In Boston Editor J. A. Sharp, of the Lumbers ton Robesonian, writer an interesting ' and instructive article to his paper I while in Boston attending the annuai 'meeting of Rotary International. He | speaks of the fiiys courtesy of T3I6 'Boston Rotarians and says, among other things: ~ ~ : Another instance of the courtesy of Boston Rotarians is related by t>r. Roscoe McMillan, of Red Springe, go vernor of the 57th Rotary district, who with. Mrs. McMillan, attended an assembly for district, governors at Poland Spring, Me., prior to the con vention. Mr. Emory Uflsery of San ford suffered an attack of appendicitis and had to be operated on in Boston. When the situation was made known an operator of a "courtesy car" plac ed himself and car at the disposal of Mr. Ussery and his friends for as long as they were needed, and the manager of the hotel where Mr. and Mrs. Ussery were staying offered Mrs. Ussery free use of a room there as long as her husband should remain in the hospital. Mr. Ussery returned home the first of the week accompanied by Mrs. Us aery, who remained by his bedside dur ing his illness.. Mr. Ussery is still very vmak, but continues t6 improve and expects to be out soon, his many friendc will be pleased to learn. Processing Tax Put On j Wheat and Its Products j I The OflfHce of the Collector of In fernal Revenue la Working under pres auie to inform Millers and Merchants rT to the ProcessIng and Floor taxes on wheat and Wheat products. The tax tras effective at midnight at July 8th. Mflla** grinding wheat for the farmer for consumption by the farmer, hie family or tenants, will re quire an affidavit of the fanner to that effect. . ■ If fanner sell* the flour, no exemp tion is allowed. JV -•A Wholesaler who also a Retailer, carrying on business at the same place. must pay the tax On his entire pro cessed wheat stocks as though the Retail phase of th* business did not exist. ’ " -v"' * j If a Retail merchant has such s+oc1m stored elsewhere than his retail floor, the *■» attaches to such stocks. - A Floor tax is itnposed on all pro cessed wheat products in the hands of millers, wholesalers, bakers, hotels, restaurants, eafe*s."and cafeterias, as' Well as to stocks held by retailers storage. -V- *■ Retailers have until August 7th in which to dispose off all stocks on hand iH Rig store at midnight, July 8th, but1 must! keep a record of goods received j from July 9th to August 7th., and stocks on hand at the close of busi make an inventory August 7th of business than. ‘ i "• I'VE SWITCHED TO CAMELS. you WON'T GET TIRED OF THEM EITHER. CAMELS NEVER GET ON THE NERVES. Cciwe&o CZz&ce^ /ci&c&eTO never get ON THE NERVES NEVER TIRE THE TASTE Borden Brick & Tile Co. ■■■ ?'r Aii .,1 i «# *v PLANTS LOCATED AT GOLDSBORO, ■■.; 'Q'-r — DUkHAM and SANFORD. -— Manufacturers of High Grade FACE BRICK, COMMON- BRICK, ' • ; ' 'W&i * BUILDING TILE and DRAIN PIPE, At present orders can be filled promptly either by railroad or truck delivery to Job. JPlay “Round-Up”—With Flashlights; jit’s More Fun Than “Hide-and-Seeli"! Although the simple grimes which granddad used to play when he was a boy are among the few things which have sur vived In. a rapidly changing world, even they have taken on modern garb and would hardly be recognizable to him today. “ The latest instance of this is the "new" game, called Round Up, which Is not new at all; but i only a "modern Improvement on the old game of “Hide and Seek." The game Is played after dark, and each contestant'-carries a flashlight. The person who Is “It" closes his eyes, as In hide and-seek, while tho other partici pants hide up trees. In shrubbery, or Wherever .they can conceal themselves.' ;Then the "It" per son searches for'them with his flashlight. When bo spots some one’ he merely calls his name and U the name la correct the “cap tlve” must return to "base"—or the "Corrall” as it Is called In this modernised version/ After the person who Is "If* hag gone [ away to find the other partici pants, the captive yells: "Beckon, ‘ Beckon.” He cannot leave the “Corrall” until some friendly participant gives him a “beckon,” consisting 6f a "wink” or flash, on his flashlight. Giving this "beckon” involves danger, for it the Person -thus coming to tho captive's rescue is not careful, the flash Of his flash light will reveal his hiding place and he will be caught. General ly, the "rescuer," HO so cm as he has given the captive a beckon,, dashes off in tho dark to find an other hiding place before the "It” ■■ person cftn detect him. As soon as any participant Is caught three timed- he Is “It,” ’ and all participants come to tha i “Corrall” to begin over again. . 1885 1933 Cole Printing Co., PRINTERS, RULERS AND BINDERS SANFORD, N. C. STEEL FILES BOX LETTER FILES LEDGERS DAY BOOKS JOURNALS CASH BOOKS TIME BOOKS LEDGER SHEETS LEDGER INDEXES CARBON PAPER PAPER FASTENERS STAMP PADS PAPER CLIPS STAMP PAD INKS SHOW CARD COLORS PENCILS SALESBOOKS DUP and TRIP ORDER BOOKS NURSE CHARTS BILL HEADS GUMMED LABELS For The Office LEGAL BLANKS SECOND SHEETS CARTER’S BLUE BLACK INK, MUCILAGE, PASTE INKY ERASER TYPEWRITER RIBBONS PENCIL SHARPENERS LUMBER TALLY SHEETS RECEIPT BOOKS MEMO BOOKS MANUSCRIPT COVERS ANALYSIS PADS THUMB TACKS SOLIDHED EYELETS DATERS, PUNCHES RUBBER BANDS PINS, PEN POINTS FILE PERFORATORS STICK FILES CLIP BOARDS WIRE LETTER BASKETS Book and Job Printing Telephone No. 70 Cole and Steele Streets Sanford, N. C. What You.. Don’t Know is popularly supposed not to hurt you. But it may cost you money... it may cause you inconvenience ... it may tarnish the shimmering surface of happy living-... In short—when all’s said and done—what you dont know will often hurt badfcy. ..... - - -firt-* Whtn is ignorance bliss ? When is wisdom folly? Surely not in this swift moving commercial world of ours .... When yesterday might as well be marked B. C. and tomorrow is pushing impatiently to prove today passe. Now is the time for everyone to be informed ... to know what is going on _not merely in the political, social and athletic world—but in the business and commercial world as well. Your newspaper tells you what you ought to know .. ... NEWS. Not simply local or world news . . . but shopping and manufacturing NEWS. It tells you—through its advertising—what is the very latest and best. From its pages you learn where to shop and what to look for. Its advertisers are the backbone of national and local business. Their message to you is important knowledge that will save you money . . . make life easier ,. give additional happiness to you and your family. It Will hurt you not to know their message. Read the advertisements in ..The Sanford Hi 0
The Sanford Express (Sanford, N.C.)
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July 20, 1933, edition 1
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