The Mining Regions of the United States

An investor in mining stocks, an intelligent investor who studies a proposition, and has an established system by which he weighs the merits of the opportunities presented to him, may surely consider all the mining regions of the world, for with honest men in the management one's money can be sent anywhere, provided the inducement is good enough. To the majority of people the propositions offered from one's own country naturally seem the most desirable. To us mining in the United States is the most attractive, and money is sent abroad with some reluctance ; yet we know that our country is well explored, and that great discoveries are more probable in distant places than they are at home. However that may be, our own country is one of those best endowed with minerals, and many important developments are certain to animate our future, in which those who participate will reap a rich reward; that is those who participate intelligently, and investigate before they take the risk; not everybody who chances a venture without investigating may expect a reward. Certainly where such expectations are entertained a review of our mineral regions should be of interest. The United States produces every known mineral used in the arts or industries, some in but an inferior volume, yet every known useful mineral is found; and the wealth of our mines runs into the billions, and millions of people are participating in them, some only as wage earners, but all are participating; and so great are our mineral resources that it may be said that every life in the United States is to some extent influenced and benefited by, if not directly dependent on, our mining industries.

Mineral developments are found from one end of our country to the other. In the Archean formations of New England among the rough hills and ridges of Maine, New Hampshire and Vermont, there are seams among the rocks, at places, carrying lead sulphides with silver; and iron with sometimes copper sulphides carrying gold. These deposits have not been prolific, are generally of irregular formation and are probably not permanent. Some mines may be discovered which will be profitable, but the region is not one to encourage expectations. From this region down through Central New England, through New York and Northern New Jersey, we have a composite country where there are Paleozoic formations; metamorphic or altered rocks, in which the character has become completely changed; intrusive dykes of dark igneous rocks, some of them of great width, others only narrow cracks through which the heated material has come to the surface and cooled to form a narrow dyke of dark colored rock; and there are areas of Archean rocks. Among these formations the characteristic mineral is iron, and some very great mines have been developed. Near some of the igneous intrusions there are copper deposits which have attracted attention. Lead sulphides are found at places, graphite exists among the metamorphic rocks, but is valuable only at one or two localities in northeastern New York. It is the iron which is of principal importance in this formation. The mines at Sterling Furnace, New Jersey, producing iron, manganese and zinc have had an enviable record since Revolutionary days. In New York there are some important mines latterly eclipsed to a great extent by the vast deposits of Michigan. In the Adirondack mountains there are enormous deposits of iron, but these deposits contain a high percentage of titanium and are not available in modern furnace practice. Titaniferous iron ores can be smelted, but it costs too much, hence these enormous iron deposits are not worked; but they present great possibilities, and should be watched by investors in mining stocks, because some day they will be used and perhaps produce great fortunes.

In western and central New York the Paleozoic formations are extensive and but little disturbed. Here minor products, gypsum, talc and salt in great abundance, are produced. The salt mines are of decided importance, but there are small chances for successful speculations in new salt mines, the present output being more than adequate. To the south of New York we have all the Paleozoic regions of Pennsylvania containing a wealth of mineral deposit, the like of which the world has not in any other region. Here the coal and iron deposits represent a wealth equal to that of an empire. Other minerals are found, lead, zinc and copper; but these are overshadowed by the mightiness of the coal and iron. Petroleum has been and still is, a product of the highest value in Pennsylvania, and great wealth is annually produced. This is an old mining region, and expectations that discoveries will be made, in which one can participate at a low rate during the first stages of development, are hardly to be encouraged. Mining investments in Pennsylvania are, however, on a sure foundation, and represent stability in which one might well seek to participate. Southward from Pennsylvania extensions of the Appalachian Mountains continue in a splendid series through Maryland, Virginia, West Virginia, Kentucky, Tennessee, Western North Carolina, Northern Georgia and Northern Alabama. A splendid region where at intervals mineral formations of great importance occupy extensive areas. These mineral developments are notably coal and iron, the latter occuring in deposits of great importance in the southern portions of this region, especially in Alabama. Other areas are also of importance, particularly in Tennessee and West Virginia. Coal is abundantly developed adjacent to the iron and the region presents many features which favor industrial development; and coal and iron propositions from the lower Appalachian regions deserve careful attention. Other minerals and products are also important; the petroleum wells of West Virginia, the copper mines of eastern Tennessee and over into the adjacent states, the gold mines of Georgia, and the manganese deposits in the southern outer portions of this formation, all present opportunities some of which are worthy of attention; but there are many ore developments of these minerals which have been disappointing, and the region is most notable as a place where coal and iron interests command and should receive special attention.