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ACT (tK TIIK PROVINC UF QUKHEC, No. 4(1, :{ri) SESSION, 2m) I'AUI.I AM I-.N'I, .17 VIC, isT.'Ji AMKX1)Ij;I> :}ri. pahliamknt. *X:>- •* (»)tt ava : I'WMKIt Al' r^K Ol'lK 1. OK A, S WOOniUHN. KI.CIN Si S.; ^- """T^^ A THE onW WA 1^ M m mi Mimm^ mm (■LjinvriTX'^T-).) HEAD OFFICE, OTTAVV.-\. fnoorporaffd iiii'Jc)' llic i^pci'ml Ad aj' tlir rrorliH'e of ffvehi-,\ \u, !('. H,"./ Sc-^'-'ion, 'linl I'ai-Iltimcnt, ."IT ]'lrfn,i'ii. l^'i. Aviendi'd ^rd VarUament. Cspital, $500,000, Id 20,000 Slares of $25 eici. DIRECTORS: President, Hon. .FAMKS SKE.VD, Vii'e-l'resiiliut Domiiii'in B.nnl of Tiniic VicR-PiiE^iDF-Nr, n, S. (.'ASSESS, Esy., Prosidciil Union ronv.ir.liii^' ('oiai.any. J. it. WOODMAN, Rs,;.. Manaser Ontario Bmk. I )tlaw,i. G. a nUUI.AXl), Km,.., Pivsident Bink Not.' Conip.-iny. Montreal liDWAllI) llAVCOCK. Ksti. BANKERS : 'lin; <>M\MM() lV\.\iv. J;OLIClTO!-;S : M !■;>< I'lS. ('')<• K i; r .'; \ . v.' i ; ! ^ ; 1 1 1 a c i , !■: :.j 1 1 w SECRETARY: I). wKsr •V; U T T .\ W A I'llIXTl.T) IIV i. <. WidlMU KV, LI.(i|\ TKKIT, U^To. •t ^<^<»vi4 m- IBON AND STEEL HANDFACTDBINI} COHFANY. (LIMITXD.) This Company has been formed for the purpose of purchasing and working the vahiable iron mines situato in the Townships of Templeton and Hull, in the County of Ottawa, and Province of Quebec, called the Haycock Iron Location. The Company holding the power under the Act to *' carry on the business of exploring " for, mining, smelting, manufacturing, dealing in and disposing of " iron and other ores and metals, and the manufacturing, soiling, << dealing in and disposing of steel workings, or the products of iron "and steel." The property to bo acquired is fully described in the report of the Eminent Mining Engineer Dr. E. J. Chapman, Profiessor of Mineralogy and Geology in the University College, Toronto, (vide prospectus) it may bo briefly described as follows : 1. Site and General Character op the Property: — The Haycock Iron Location comprises a compact area of 300 acres of mineral land, and 100 acres of timber land, r.ituated in the Province of Quebec, about eight miles north-east of the City of Ottawa; together with an additional piece of land of 10 acres near the head of navigation on the Hivor Gatineau, as described in the following statement:— 1. The North-half of Lot 1 in the 11th Eange of Hull, com. prising 100 acres of mineral land. 2. The adjoining lot 28 (North and South Halves) of the 6th Bange of Templeton, comprising 200 acres of mineral land. 3. The contiguous South-half of Lot 27 in the same Eange, comprising 100 acres of timber land. 4. Ten acres in Lot 2 on the 6th Range of Hull, on the left bank of the Biver Gatineau, which has been secured partly to serve as a storing place and loading ground for shipping the ore, but chiefly as a convenient site for the erection of furnaces. This area is connected with the mineral or iron area proper by a tram- way of 6J- miles in length, This tramway, of three-feot guage, has been very solidly constructed, and it is now in complete working order. It runs for a short distance throMgh the Haycock property, , and is then continued along the town-line between Hull and Temple- ion, on to the furnace-site on the Gatineau. In addition to the 6^ miles of tramway in complete running order, with full right of way from the ore beds to the furnace-site and shipping ground on the Biver Gatineau, the assets of the pro- perty include a Steam Saw Mill, of 20 horse power, sawn timber and ^jja^S^- W- -:' w l^w- logii, SI Boarding House, Manager's House, Sloro House, Office, Stables, Powder House, and Blacksmith's Shop. Also a Derrick and other minin^^ plant, tools, &c. ; together with about 5,000 tonu of raised ore, and 30 tramway cars. The quantity of the ore as described by Professor Chapman, is practically, inexhaustible, it lies close to the surface and is easily mined, while its (quality may 1x5 estimated from the fact that steel ban been, made dlrct from the ore. The fullest particulars of analyses and experiments jn-oving these statements can be had at the Head Ottico of the Company, Ottawa. The price to be paid for the purchase of the property is 8250,- 000. One half in cash, and the balance in fully paid-up shares of the Company, in consideration of which the proprietor will make over the freehold of the estate free from all incumbrances whatsoever. And further, as a proof of his bonajides, and his entire confi- dence in the prospects of the undertaking, he will ouakanteb to THE shareholders A MINIMUM DIVIDEND OV »0T LESS THAN TEN PER CENT PER ANN KM ou the paid-up capital for three years from the date of the allotment of shares, and as security for the due payment thereof, he will deposit in the hands of the Company the whole of his paiil-u]) shares, and give such further security in cash as may be thought necessary for the carrying out of his guarantee. The capital will be calletl up as follows : — IStli May, loth June, 15ti» July, I")tli August, 15th Sept., 1875 $2 per sliarc .. 2 " ..2 " ..2 " ..1 " Ou tipplicatioii S2 per sliare On allotnient :{ " 11th January, 1ST.') ."• •' l.")th Fehniarv, " .... 2 '■ loth March ' •' .... 2 *• 15th A])ril, " .... 2 '• The share list will close on the lOih December, 1874, and as the shares will be allotted iiro rain according to ju'iority, an early application is desirable. The share list is re-opened for the subscriptions of a limited amount of stock. Prospectus and any fiirtJier information relative to the Com- pany, can be had on ai)plication to the Head Office. QUALITY OV THE OKE. The ore ol" the location is specular (see report of K. J. Chap- man, Ph. D., iS:c.) The specific gravity of the average ore is equal to 5.0 — remarkable in its ireedom fj'om titanium, phosphorus and sulphur. The metallic iron returns in the several analysis, are : — Dr. Chapman (average of tests)? fid.'lO Mr. Harrinpton (Geo!. l)ep. Canada) , (54 .15 Dr. AVulh (Pitt.^burg) ()4.00 Cambria Works (Johnstowi\) (JG.OO Mr. Britten (i'hiladelphia) (50.02 Mr. Wendel (Bessemer Steel Works, Trov) G4.24 Mr. E. liiley, F.C.S. (London, England.'. C8.49 A vcru'j;«! =G5 .05. The great purity of ore, and its capability of making a suporioi* quality of steel is shewn by the following analysis : A nalysia made on the Ore. Prof. Chnpioiin. i . 1 « 1 Ot ittc ^•s & •S^ ■u ^^ i? !■ X2- : o 1 1 I'rroxiiie or Sen- •luioxide of Iron Protoxide of Iron TiUnic Arid Protoxide of Miiii- gitlicse Magnc8ia IJni« Plinsjdioric Acid. tSultiliur Gra]>liite InKiiliirroi'kmatt'r O.xygtm with Iron,! AliiniiiiH ''■ Silica ii _^^__.,^^_ n _ JOT.VLS .^^..!! >;^lftllic Iron Phos](honiH I I 89. 80' 7.06i 2.:i4 Trace. 0.22 Trace. Trarc. Trace, 0,48; O.lli 88.08 li.Sli r..i7 0.55 0.13 0.^5 0.16 0.0:i 0.35 0.2(5 .4.'i .24 .12 41 17 41 13 07 28 77 I 87 40 .41 ,37 ,47 M .25 .10 55. M lo.oy 3.84 8» 04 7.92 ■£ i 78. P8 W.WV, 100.14 ' 100.0.'. 68.34 fill. 98 an = (>(>.40 f..'».8S 1 o 100 04 Ii. 10 ^1 ,24 ,10 0.08 0.13 0.14 0.02 1.09 2(3. S5 0.4!> 1.34 100. 00 0.40 0.,'.6 0.21 0.04 0.34 0.37 0.87 0.0<> 1.13 2.14 O.OIS 0.04 0.32 1.77 .i 8.70 .'Arid8.07 100.26 ;. 60.02 ; 06.001 68.49 i 0.06 1 0.093 64.45 Bed 6 1 The tests made by melting the ore have proved very satisfac- tory, giving in all cases at the first heat, a line quality of steel, from which tools have been made, taking a good cutting edge, and this from the pure ore itself, shewing that the ore contains Avithin itself the components parts of good steel. The first test was made by Mr. S. K. AVollman, Superintendent of the Nashua Steel Company, New Hampshire, who ran two lots in a Siemens Furnace, giving in the first instance 62 per cent, of metal, in the second 60 per cent., as see his communication. Nashua, N.H., Oct. Sth, 1873. To. E. Haycock, Esq., We smelted the first sample of ore you sent us early in Septem- ber in our Siemens Furnace, and it produced sixty-two per cent, of pure metallic iron, of which you took a sample. The second lot sent we smelted yesterday, and it produced sixty per cent., and sample went to you to-day. S. K. Well MAN, Supt. of the Nashua Iron and Steel Co. From this metal cold chisels, knife blades and rasors, were made of good quality, at the works of Blasdell & Co., Ottawa, under the direction of Horace Merrill, Esq., whose opinion as to the merits of the steel, is, that it is superior to the best imported English cast steel, a remarkable fact, insomuch that this metal was only tho ordinary pig metal, or first run, direct from the ore. A^S- 6 The ore was also tested at the steel works of Charles Cammoll &, Co., Sheffield, England, who made steel direct tberefVom, using only « a little lime and ch^o^oal to act as a flax," this steel was " forged or drawn out under the hammer into a rude ingot ;" it was ^ also taken in hand by Edward Bilej, Esq., F.C.S., metallurgist, analytical, consulting chemist, one ol' the leading members of the Steel and Iron institute of London, England. The first test con- tained too small a portion of charcoal, making a mild steel. See letter May 22nd. Laboratory and Assay Office, 14 Finsbury Square, City Boad, London, May 22nd, 1874. Dbar Sir, Herewith I beg to forward yon the result of my analysis of the sample of specular iron ore received from you, several pounds weight of the sample pulverized together gave : — Peroxide of Iron 89.04 Pit)toxide of Iron 7.92 Alumina 32 Lime 56 Magnesia 40 Silica 1.77 Phosphoric Acid 21=«^3J*« Sulphur, 04 100.26 Metallic Iron per cent 68.49 This ore is specular iron ore, containing a little magnetic oxide, I carefully tested it for titanic acid, but could not detect any, or any manganese. The silica contains a little rock, consisting of mica and micacious shist, the quantity is however so small tJhat it could not be separated. I ran down 1,500 grains of the ore in a small crucible, using only a little manganese and fluor spar, with wood charcoal, the result was a well formed button, weighing 1,040 grains. This button was worked by a smith into a cold chisel without a crack or flaw, (although the shape of the button was most unfavourable). The steel was too soft to take a temper, shewing it to be a mild steel, due to too little charcoal being used to make a hard tool steel. Believe me to remain. Yours very faithfully, Edwa&d Bilxt, F.C.S., M^aUwrgiaty Analytical and Conniking Chetniit. To Edwabd Hatoock, Esq. P.S. — The ore was run down at the first ti'ial most readily. ..^^. Mr. Biley afterwards (see his letter, May 23rd,) made another test, adding more charcoal. From this he made the cold chisel Tnarked A, to be seen at the Head Office. Laboratory and Assay Office, 14 Finsbury Sqiiare, City Boad, London, E. C, May 23rd, 1874. DiAR Sir, I have sent you by same post a small box, button of steel made since you were hero, I sent it to show you the difference in the form and the suiilMM) of the button, due to the (iteel being a little harder, by adding more charcoal. Please return it to me by post and I will hnve it worked out, as the furnace is nice and hot; 1 hu :• put three times the quantity in a crucible, and hope to get about ^ > b. steel. Believe me to remain, Y » rs ever faithially, Edwabd Bilkt. Edward Haycock. Esq. A very able and full reptwt on the ore of the Haycock Iron Location, and metal made therefrom, has been kindly given to the Company by Mr. John Griffon, General SuperintonJent A' the Phcenix Iron Works, P. A., dated January, 20th, 1875. The re- port is too lengthy to publish in full ; extracts therefrom only are inserted herein. It is addressed to T. C. Clarke, Esq., of Philadel- phia, through whom the samples were sent. Mr. Griffen commences by saying : " I have received the sam- ples of steel, together with the samples of ore from which the steel was made, and also the prospectus of The Ottawa Iron and Steel Company. I have read the latter with considerable interest. " The ore is, in my opinion, one of the very best in the world for the manufacture of steel." Again, " from its great freedom from earthy mattex*, it is es- pecially adapted to the manufacture of steel by the direct process, that is without the ore having been first converted to pig iron." Mr- Griften recommends the same system of treatment of the ore as that tlie Company are adopting, saying : *' The best way to do this is, in my opinion, and probably the cheapest, would be to erect Catalan forges, and treat the ores with charcoal, as they are treated by the Messrs. Eogers at the forks of the Au Sable river, near Lake Champlain, from the blooms of which steel is made by Pack Bro- thers, Pittsburg. After shewing that in his opinion the ore will make steel, and the best manner of working the ore, he states that a ready market can be found for the metal. " These blooms, if the metal from them would produce a high grade of steel, could be sold either in Eng- land or the United States at a very high price, so that the Company could have the choice, either work the wnole into steel themselves, or sell the blooms to other steel makers." ..iL^. 8 (From the Montreal "Daily Witness.'^) Important Experiment with Canadian Ores. — IL has been . known for a year or more that an extensive deposit of specular iron ore exists on the Haycock Property, in the Townships of Hull and Templeton, opposite Ottawa. Some few days since a quantity of these ores was at the Siemens furnaces, of the iSTashua Steel and Iron Company, Nashua N. II., smelted with charcoal in crucibles, direct into ingots, one operation serving i'or the whole. Last week one of these ingols was at the Moisic Iron Works, in this City, heated in the usual way, and without the use of the steam hammer, rolled direct into bars of different sizes. The ingot on fracture showed a very line steel-like grain ; the bars, however, on being broken, had in every way the appearance of the very finest ShettioUl steel. Experiments wore then made with the bars. Cold chisels of splendid quality wore made from them, and under the hammer the bars were rea It. Cliiiiiniairs I.lIut of Suv., \S7X) Toronto, November 14th, 1ST3. Edward ILiYcocic, Esq., OUaw:i. Dear Sir, As the drawing up and printing of my reports on your iron location, (embodying thn result arrived at by a second and more complete examination of the ground) may occupy ten or fifteen days, 1 send you in the interim, my e*>timate of the amount of readily available ore upon the projiert}-. With regard to Ibis estimate, certain points have to be observed, namely: — (1.) The estimate emiiraces the central portion of the prc^)erty, only, — the indications ot ore, (and those are numerous) on the more southern and northern portions of the location not having been as 3'et thoroughly traced out. To do this properly would require an expenditure of two or three hundred dollars, and would have no useful purpose, as the immense amount of ore in the central portion of the property is sufticient to yield for very many yenrs all the output that could by any possibility bo required. (2.) The estimate is to be considered strictly as a miniminn esiliinate. In view of the largo amount of ore upon the proper t}', i have been anxious to keep free from all suspicion of exaggeration , my estimate might therefore be greatly increased, and still be within the truth, as it takes the bantls of ore merely at their surface strength ; and most of these bands, if not all will probably be found to wi'^«n more or less in descending. [ 9 (3.) The estimate includes merely the beds of ore to a depth of 200 feet from the snrlace. It will of course bo understood that each bed of ore — dipping towards the north west — passes from its line of outcrop entirely under the area lying between this outcrop and the northern limits of the property ; but, as the angle of dip exceeds 45° or 50°, the depth at a certain distance from the outcrop would be too great to bo profitably reached. I have therefore taken the moderate and readily workable depth of 200 ft. as my limit in the present estimate. The beds might readily be worked, however, to a much lower level. Thus limited, the quantity of readily available ore in this central part of the pioperty must amoimt to at least b',300,000 British tons, at an output of 100 tons per day, yielding 60 tons of first quality pig metal ; this amount would not be exhausted in less than about two centuries. This statement of quantities is of course offered as a careful approximation only ; but it is an approximation which keeps strictly within the mark, and its general accuracy is undeniable. I am, dear sir. Yours very truly, Edward J. Chapman. Ser also Dr. Clmiiman's Report, Folio 13, in General Summary. " From surface to the moderate depth of 200 feet, these united " beds, in the most central portion of the property alone, cannot " carry less than from six to six and a half millions of tons of ore, " and the}^ probably contain a much larger amount;" which (see Folio 11) corresponds ''to a daily output of 100 tons of ore, or 60 " tons of metal, during a period of upwards of a century and a half. " it refer.-*, it must be remembered, to merely a portion of the pro- " perty." This estimate shows that for all practical purposes, the ore of the location is sufficient to guarantee the erection of exten- sive works for the manufacture among ourselves of the large amount of steel and iron now imported, the payment for which adds so much to the drainage of the Dominion's life blood in the shape of currency. FU^L. It is proposed to erect Bloom Forges and Furnaces, and sell ore. The supj)ly of timber foi' charcoal is very largo, as the estate is on the verge of the forest. Every facility is promised by the Com- missioner of Crown Lands, Province of Quebec, in making these lands available for so imi)ortant a project for the public welfare. The importation of anthracite coal from Pennsylvania is made easy, in consequence of the lumber barges carrying lumber to B 10 Albany and Troy, returning empty ; ott'ers have been made this year (18*74) to supply coal of best quality ut 36.50 per ton, delivered at the worlis. The estimates of cost of fuel in pig metal productions, aro charcoal 8 cents per bushel, and coal $1 per ton. The use of peat in this manufacture, in consequence of its purity from chemicals, injurious to iron and steel, and its cheapness, is a matter deserving much careful consideration. COST OF MANUFACTURING. The cost of making a ton of metal is taken as $20.00 per ton, this is a full estimate, as see Dr. Chapman's lieport. Folio 13 : Mining, hauling and breaking If tons of ore $ 3.00 Charcoal 24 cwt. at 8 cts. the bushel of 18 lbs 12.00 Limestone, &c 0.15 Laboui' and furnace expenses 4.50 $19.65 Mr. F. Rumpf, of West Point Foundry, Cold Springs, gives the cost per ton of metal at §10.60. West Point Foundry, Cold Springs, Oct. 30th, 1873. SCHEDULE No. 1 Cost of labor to produce, say 30 tonrt of iron per 34 hours. Assuming 340 working days in one yearj=340 x 30=10,200 tons. 2 Main Keepers @ S2..50pcrday $5.00 2 Helpers to Keepers " 2.00 <' 4.00 2 Top Fillers " 1.50 '< 3.00 8 Stock Men " 1.00 " 8.00 4 Laborers " 1.00 " 4.00 3 Cinder Men " 1.00 « 3.00 1 Blacksmith " 2.00 " 2.00 2 Weighers «' 1.50 " 3.00 2 Teamsters « 1.25 '< 2.50 2 Engineers, one $2.50 and one §2.00 4.50 Total §.30.00 m 11 SCHEDULE No. 2. Cost of 30 tons of Iron, the average production of 24 hours. 60 Tons of Ore @ $2.00 8120.00 48 " Coal " 7.00 336.00 10 « Limo" 75 7.50 Interest on Capital 20.00 Labour as per Schedule No. 1 39.00 Superintendent, Clerk, Steel, Iron and Horses 36.00 Sinking funds and repairs 30.00 8588.50 This will make the cost of each ton of iron 019.00 An experienced Engineer gives the outlay necessary in erecting Forges and their appurtenances complete, capable of turning out 7 tons per day, at $25,000, and the cost of making Blooms from the ore of the location, under $25.00 per ton. A3 shown before the results from all tests made in smelting the ore have proved to bo a superior quality of steel, it is to bo supposed it will continue to do so in largo quantities in a furnace, as it has in small, in crucibles. This is the opinion of Mr. Well man, as see his lettei*. Nashua Iron and Steel "Works, Nashua, N.H., 17th Oct., 1873. Edward Haycock, Esq., Dear Sir, Your favour of the 13lh is at hand and contents noted. Your ore was pounded up, say as fine as wheat or thereabouts, and put in pots with a little chare- al and lime to smelt it, and nothing elbO. and I know of no reason why, by making it in largo quantities, it would not make just as good metal and give the salno per centage of iron. Your analypi'^ of the iron is good, and ought to nuike good Bessemer steel. Hopo j. ou will succeed well in starting off in the manufacture. I have not been able yet to see Mr. Crorabia, but think I will soon. Yours trul}', S. Iv. "Wellman. The result may therefore rensonably be expected to give that of cast steel, which carries a large margin to cover incidentals of all sorts. It may bo found advisable to mnke not only cast steel, but car- wheel iron and blooms, all of which, even at the present low state of the "markets, show a very handsome return to the investment. n These estimates have all been made against the operation, for instance, charcoal at 8c. per bushel, which, by using charcoal kilns, should cost 6c. Anthracite coal at S7.00 should only cost from $6.00 to $6.50, «&c., &c. Subjoined will be found a copy of the Act. The originals of hetters and statements herein contained ; samples of ore and metal will be found at the head office, Ottawa. The following parties state they have every confidence \r. the report of Dr. Chapman on the Haycock Iron liocation. Rt. Hon. Sir J. A. Maodonald, J. M. Currier, Esq., M.P. for Ottawa, Dr. Grant, M.D., F.G.S., Hon. Jas. Skead, Chairman Board of Trade. Ottawa, Aug. 1st, 1874. E. HAYCOCK, Propriefor of ih« Location, -^-=0f*Cfcj-iK- Id ,[i The results of my analysin, as published in my Eeport oi* last April, are given in the tabular statement below. No. 1 is the composition of a fragnicntof a largo crystal from a bed on the slope of the iron ridge on Lot 28 in Templeton ; No. 2 shows the compo- sition of a piece of the so-called " steel-ore," taken from a conti- nuation of one of the beds on the south side of tiie marsh ; and No. ii rej>resents the composition oi" the average ore, as obtained from the foot of the iron ridge on the same lot. It is this latter analj'sis which must be taken as the expression of the general quality of the ore, as it was made from a large sample, selected carefully from n heap of about 300 tons, with a view to obtain a trustworthy average result. Sesquioxide of Iron. (1) (2.) (3.) 89.80 ; 88.08 85.45 Protoxide uf Iron 7.0C fi.Sfi Titanic Acid 2.34 3.17 Protoxide ol" Manganese .... trace . 24 Magnesia 0.22 0.13 Lime trace 0.55 Phospljoric Acid trace 0.16 Sulphur trace 0.03 Graphite 0.43 0.,35 Insol. Rock-rnatter 0.11 0.26 5.24 2.12 0.15 0.17 0.41 0.13 0.35 0.28 6.77 Metallic Iron. 1 In No. 1=68.34 per cent. In No. 2=66.98 " In No. 3=63.88 «« The average amount of metallic iron in the Haycock ore generally, is thus shewn to be equal, in round numbers to 64 per cent., a result confirmed by other independent analysis.^ The rock-matter, with which the ore is more or less intermixed, consists essentially of orthoclase feldspar (composal of silica, alumina and potash), with Traces of hornblende, tourmaline and magnesian mica. The amount of free silica is apparently very slight, llcnce, in the furnace treatment of the ore, the loss by slagging would bo compa- ratively low, and but little flux would be required. The average furnace-yield may bo fairly estimated at tiO per cent., and thus five tons of ore would make tliree tons of pig-metal. This latter, it is evident Irom the above and other analysis, would be a first-class metal, equal to the best brands of Bessemer pig. Since the date of my first JSeport (in which the high quality of the ore was strongly insisted upon), two or three hundred weights have been practically tested by reduction in a Siemen's furnace at the works of the Nashua Steel Company. The result was a steel of surprisingly good quality, averaging as nearly as possible about 60 per cent, of the ore employed.! 4. Estimated Amount of Ore : — That a very large amount of ore is contained within the limits of the Haycock Location is beyond the possibility of doubt. The number and near contiguity of the *64.45, Harrington ; 79 to 04, Wuth , 66, Britten ; 64. 24, Wendell. fA sample of this steel mey be teen at the Assay Office of the writer, 11 King Street West, Toronto. 17 b«d8 at present discovered — the proved extension of many of these, as shown on the phin attached t«) this Itejwrt, across the property generally, and hento the legitimate intci-ence that all will bo found to present (similar relations — the openings made hero and there upon the beds, and the amount of ore already taken from them — are alone sufKcient to warrant the assertion that a constant and steady output of thousands of Ions might be obtained annually from the location without exhausting it. But until regular mining work is commenced and sj'.stcmatically carried on, it is not possible to stale in precise fignres, except as u general approximation, the actual amount of ore within tlic property. Tlio indications of ore on many parts of the location, for example, have not been traced and opened out, simply for the reason that to do this would entail an expenditure of four or tivo hundred dollars without serving any really useful ])urpose, as the known exposures of ore on other parts of the property are amply sufficient to guarantee for very many 3'ears all the output that could b}- any possibility bo requireil. In this Report, therefore, I have limited my estimate to merely the central portion of the property, including, and more or less immediately surrounding, the principal iron ridge. And, even here, one is mot by many difficulties in coming to a fair conclusion with- out wronging the jiroperty, as the widening of the beds of ore may cause the amount calculated from surface observations to be entirely below the mark. It is necessary, moreover, in framing an estimate, to fix upon some limit as regards depth. Their comparatively high angle or dip would carry the beds, at a certain distance from their outcrop, to too low a level to admit of profitable working. But these beds, it will bo admitted, may certainly be worked to a depth of 200 feet without any exceptional difficulty or outlay. Taking this moderate depth, therefore, with an aggregate thickness of only 70 feet of ore in this central portion of the property, and an average length of 35,000 feet (which is quite within the mark), and making 8 cubic feet equal to a ton of ore, so as to allow amply for waste in mining, the amount becomes no less than 6,300,000 British tons. This estimate, high as it is, might be greatly increased, I feel assured, and still be within the truth. It corresponds to a daily output ®f 100 tons of ore, or 60 tons of metal, during a period of upwards of a century and a half; and it refers, it must be remem- bered, to merely a portion of the property. The small area around the central or iron ridge alone must contain (within the limiled depth of 200 feet) at least 675,000 tons of first-class ore. 5. Buildings, Milling Plant, and Piled Ore vpon the Property: — In order to complete the present description of the Haycock Mineral Property, a brief reference must to made to the buildings, mining plrnt, and raised ore upon the ground. In addition to the 6J miles of tramway in complete running order, with full right of way from the ore-beds to the furnace-site arid shipping gi'ound on the Elver Gatineau, the assets of the property iuclude a steam saw-mill of 20-horse power, with a considerable amount of sawn timber and logs ; a Boarding House ; Manager's House ; Store House ; Office ; IS Siubles; I'owdcr House ; Jind Blackijmitli's Shop. Also u Dei'i'iclc iiml other mining plant, tools, &c. ; together with about 5,0U0 tons of raised ore, and J50 tramway cars. f!. Proposed Farniice, Treatment of t ho Ore — AUhoufjh the Hay- cuc-k ore might undoubtedly be shipped from the Gatineau, at re- munerative prices, for furnace treatment in the United States, it is evident that a much larger profit would accrue from the reduction ol" the ore at home. In my earlier Beport, it was shown that the cost of production oi' pig-metal per ton would lie under 620, accord- ing lo the following general estimate : Milling, hauling and breaking In tons of ore ^'i 00 Charcoal, 24 cwt., at 8c. the bushel of 18 lbs 12 00 Limo!stono, &c 15 Labor and furnace expenses 4 50 «19 (J5 The co.'t, thus stated, has l»een coniirmod by detailed estimates uittained more recently from furnace engineers of extensive practice in the Slates and elsewhere. In these estimates, the cosl of produc- tion per ton. in reference to the Haycock ore, is placed at from $10 to .S20 ; and there can be no reasonable doubt that, under proper management, it would fall within the latter sum. The value of the pig-metal, on the other hand, could not (in Canada.) as a general rule, bo far short ot §.>0 ; and it could hardly fall below !jJ40 under any adverse circumstances that might arise. The metal would cer- tainl}' rank with the best Lancasliiio «u* Bessemer brands if its fur- JKii-e treatment were piuporl}' carried out. The storing place on the (T.itineau is well situated lor a furnace-site. The cost of putting up at this spot a oO-ton hot blast furnace, with all its necessary appointments, &c., in complete i-unning order, according to trust- worthy estimates, would be from ^128,000 to *130,(I00. A cold-blast 10-Uin furnace of the l)ost modern construction would cost from .^45.0(J0 to ii?r)0.U00 (flO.ooO), all com))I(!le. General Sammury und Conclnslons : — The Jitatcmonts given in ihi^ IJoport may be condi'tised, for convenient reference, into the Jollowing summary : l^hc Haycodc Iron Property comprises, in one area, 300 acres of mineral and 100 acres of timber lands, connected, by a tramway of 6^ miles in length, with a storage and furnace site of 10 acres on the Kiver Gatineau. The 300 acres of mineral lands arc (ravorsod in a general north- c^tst and south-west direction by numerous bands of iron ore, I'avour- Jibly situatetl f-^r mining, and for the greater part, if not entirely, of workable thickness — the bois at present opened widening rapidly on descending. From surface to the moderate depth of 200 feet, Jthese united beds, in the more central portion of the property alone, cannot carry less than from six to six-and-a-half millions of tons of ore, and they probably contain a much larger amount. The ore is of very romurkablo purity, uiid it IioUIh on an nvora<,'o fi4 per cent, of motal,* equivalent lo a furnucu yield of nl)out tlO por cent. A practical test made upbn several ewts. of the ore, in a Sie- roen's furnace, produced at one heat a steel of very superior qualit}-. The cost prodiK'inff first-quality pii;-metal from the ore at tlio furnace-site on the (Jatinoau would not exceed ^20 per ton, whilst the value of the metal in the Canada market, allowing for all pf»!ii(!rs ; Therefore, Her ^Isijesty, by and with the advice and con«;ent of the Jjegislatin-e of (Quebec, enacts as follow- : 1. The said Kdward Haycock, the Honorable James innorpowtion. Skead. Joseph Merrill Currier. Kdward McGillivray, Richard Scougall Cassels, Helier A^avasour Noel, and Samuel Halt JEaycock. together with all such other per- sons as shall becfmie shareholders in the company hereby constituted, shall be, and they are hereby made a body e.orporate, by the name of " The Ottawa Iron and Steel ^-0^1,0 Manufacturing Company, (limit< d.)" 2- The Company may carry on the business of ex- Business of th< ploring for, mining, smelting, manufacturing, dealing in, ^<""i'a"y and disposing of, iron and other ores and metals, and the manufacturing, selling, dealing in, and disposing of steel and steel workings, or the products of iron or steel, and may do all things neces!«ary to such ends. [•orate iianip. Oi/ Coiiipniiy m«.v )ii-((uir(* renl '■slate ami liiiliil!;.;- liglits. 3- The Company may, by any lo^al title, acquire, Jind hold an\' lands and mining rights, privileges or ease- moiits. iiecosisarj'" or rc(|uisite I'or the t-arrying on of such Im^iinesh, and construct and maintain isuch buildings, machinery, and other improvements tliereon, and they may sell and dispose of the same, and act|uiro otliers in t.lu'ir sload, as c.e company may deem for its advantage. I'owerto awniirc Til conshii.i wliai\''.>. 4. The said Comjmny are authorized to build, pur- chase, ]iossess, and hold one or more vessels to be pro- [lelled by steam oi" other power, with ail such necessary scows, boats, and burgee, as may bo required to be used and employed by the said companj'' for the piu'jtoses, and in connection with the objects and undertaking-s referred lo in this act, and to construct, maintain, ai' I use all necessary wh.'U'ves, ])ier;^ and booms, required foi- the piM'p(t<owored iijiiiw-\. vV •. to acquire construct, mamtani and use a double or MUglo railwav or tir.mwav, of wood or iron, or both, from an v [K)ini in the lands which or the mining rights in wjiich )uay bo acquired by the said Company, to tlie n.'wigable waters of the Eiver Gfi .-^au, and to conitruct, maintain, and use branch lines of tramway or railway, to run from any other point or jioiiiis in tl'.<; said land>, aiid over ami through the said lands to the .-^aidlirst meniioned railway or tramway, and to purchase, acquire, and hold all neccs- j-ary locomotives, rolling stotil^, matters and things, which may be required, and to use the same to cany iron and other «;res, mercliandi^'.o and materials, to mid iVoin the said lauds. Jiailway jet lo ;il>l.l>. 6. 'I'iie following c'-uises ot •■ llie r.ailway act,"' arc incorporated Avith this act, that is to say, the tirst, socontl, third and fourth clauses thereof, and the clauses relating to -powers, plans" and ••surveys"' •• lands and their val- uation,"' except in so fai'as they may be inconsistent with this act. Ca] lit II I stock IniTeasint,' (.iipital. 7. The capital stock of the Compan}' shall lie the sum of live hunared thousand dollars, divided into one thousatid shares ol'fivo hundred dollars each, and may !<> fnun tirnt' to time, increased, aa the wants of the (/Om- pany rc(|uire, by vote of not less than two-thirtls of the shareholders, ai a meeting of the Company called I'or the purjtose, to an amoujit not exceeding one million dollari*, in tlie whole. 25 MJ't' val tlio Olio 8. The capital block shall bo paid by the subscribers Howtiir Mock thereof, when, where, and as the directors of the Com-^^^'n'iiti pany sljail require, or as the by-laws may provide ; and if not paid at the day ref|uirod, interest at the rate of seven per cent per annum, shall be payable after the said if not rani day, upon the amount due and unpaid; and in case any |,'J^ere''at ^to bo instalment or instalments shall not be paid as required by '''"'^^'■•i- the directors with the interest thereon, after such demand or notice as the by-laws prescribe, and within the time limited by such notice, the directors may, by notice, reciting- the lacts, nummarily forleit any shares whereon ''oitvitmc for such payment is not made, and the same shall thereupon*""'"'"'^'"'"'' become the property of the Compan}^ and may be disposed oi' as the by-laws or votes of the Company may provide. 9. The Company may cniorcc payment of such H'^*vva>"'«ntnt• ,, , . , i I " t' • i . J ,,siil>KrnbM stork calls and interest, by action in any competent court of maj he onforccd law, and in such action it shall not be necessary to set forth the special matters, but it shall bo sufficient to declare that the defendant is a holder of one share or more, stating the number of shares, and is indebted in the sum of money to which the calls in arrear amount, in respect of one call or more, upon one share or more, statin/::!^ the number of such calls and the amount of each, whereby an action hath accrued to the Coirq^any under this act; and a certificate undei their seal, and purporting to be signed by any officer of the Company, to the eftect that the defendant is a shareholder, and that such call or calls have been made, and that so much is due by him tor'caii." and unjjaid thereon, shall be received in all courts of law as /mind facie evidence to that effect. 10. The stock of the Comiwiny shall he dcemetl ^'"''^ );Tsonai personal estate, and bo assignable in such manner only, how assiynawe. and subject to such conditions and restrictions as are, by the by-laws, prescribed ; but no share shall bo assign- able except to this Company, until all instalments called for thereon have been paid, unless it has been declared forfeited for non-payment. 11. The Company, from time to time, after at least ^^'i'tn.'''>i<';>> the one-half of their stock has been paio in such form as to the directors of the Company may Keem fit, and for assuring pa3ment of any such sums and intercfit, the Company may thereby hypothecate their- Mnyhypothp.iitereal cstatc or any part thereof, and in such case the en- Muir rvcTeity. i^egistratioi' in the pri)per legistry office of such bond, debenture, or other nocurity, if not passed before notaries, shall create the hypothec thereby purporting to bo created. 12f At all meetings of the Company, eveiy share- holder not being in arrear in respect of any instalment called for, shall be entitled to as many votes as he, she, or they, hold shares in the stock of the Company, and which shares shall have been held in his, her, or their names, at least one month })rior to the time of voting, and no shareholder being in arrear shall be entitled to vote ; and all votes may be given in person or by proxy provided always, the proxy is held by a shareholder, and in com- formity with the by-laws. ^!Tiu'.w v\e!-ivd 1^* '^^^ affairs of the Company shall be administered and'iinaiifK-ation by a board of not less than three and not more than seven of a director, directors, being severally holders of at least ten shares of stock, who shall be elected at the tirst general meeting; and thereafter at each annual meeting of the Company, to hold office until their successors are appointed, and Dirfctorsto who (if Otherwise qualified) may always be ic-elected : elect a Presidint. ^j^j.Qjj ^jf g^gjj dii-cctors. Until Otherwise provided by the by-laws, shall be a quorum ; and such directors shall, as soon as may be, elect one of their number to be president ; and if any vacancies shall at any time, occur in the office of president or director, the remaining directors may fill the vacancy until the next annual meeting of the Company; the president shall have a vote sis director at all meetings of the board, and in case of a tie shall have the casting vote likewise ; but no director shall vote by proxy, unless otherwise provided by the by-laws, and a failure to elect directors shall not dissolve the corporation, but all proper acts by the said directors shall be valid and binding as against the Company, until their successors shall be elected; and an election may bo had at any general meeting of the Company called for the purpose as prescribed by the by-laws. PowcTHof tiie 14. The board of directors shall have full power in all by.*iair8°for"^cer- thiugs to administer the atl'airs of the Company, and to tain purposes, make or cause to be made, any purchase and any contract not contrary to law ; to adopt a common seal, and to altar the same at pleasure ; from time to time, to make any and all by-laws (not contrary to law,) regulating the issue imd registration of certificates of stock, the calling Vacancies. 26 in of instalments on stock, and the payment thereof; the forfeiture of stock for non-payment; the disposal off)r- feited stock and the proceeds thereof; the transfer of stock; the dechiration and payment of dividends; the appointment, functions, duties and removal of all agents, officers and servants of the Company; the security to be given by them to the Company ; their i-emuncration and that (if any) of the directors; the time and place for holding the annual and other meetings of the Company; the calling of meetings of the Company and of the board of directors ; the quorum, the requirements as to proxies; the procedure in all things at such meetings; the site of their chief ])laco of business and of any other ofliccs which they may require to have : the imposition and recovery of all penalties and forfeitures admitting of regulation by by-laws, and the conduct in all other particubn-s of the officers of the Com))any ; and every copy of any by-law under the seal of the Comp'iny, and purporting to be i.nvs^t("be ^ signed by an 3' officer of the Company, shall be received i";!""* •^'«i« in all courts of law as prima fade evidence of such by- tiu-'reof. law. 15« Until the first election of such board of directors, who shall i.e the said Eihvard Haycock, the Honorable James Skead, "'•'** '^''•^'=^'^'" .'jseph Merrill Currier, b]dvvard McGillivray, liichard Scougall Cassels, Holier Vavasour Noel, and Sanmel Hatt Haycock, shall be a provisional board of directors, with Their iioweis. power to open stock books and to convene general meetings of the Company-, at such time and place as they shall determine, and generally to do and perform all matters and things which any other board of directors is empowered to do, and any other act necessary and proper to bo done to organize the Company and conduct its affairs. 16- The directors of the Company may, from time PowurtoHiiot to time, dis])ose of, place or allot any of the stock of tlie **'"'-'''■ said Com])any to any person oi* persons, at such price or prices, or for such consideration or considerations, and in such amounts, and bearing such rank, position or priority in respect to any other shares, and in such class or classes of order in respect as well to the principal amount of such shares as the interest or dividends thereon and so designated, and upon such conditions as the directors, may, from time to time, find expedient ; pro- vided that no preference stock shall be issued, unless with the approval of a majority in value of the stockholders present or represented by ])roxy, at a special general meeting called to consider the same. V'' '!■.' 26 Company not liable as trustees Liability of shareholders dellued, &u. Company bouud by the acts of their servants. May not issue bank notes. Proseeution of actions ; who may bi? com- petent wit- nesses. Conimenneinent of operations. 17. The Company shall not be bound to see the execution of any trust, whether expre.ss, implied or constructive, in respect of any share or shares, and the receipt of the person in whose name the same shall stand in the books of the Company, shall be a discharge to the Company for an3'' dividend or money payable in re -pect of such share or shares, whether or not notice of such trust shall have been given to the Compan}^ ; and the Company shall not be bound to see to the application of the money paid upon such receipt. 18. The shareholders of the Company shall not, as such, be held responsible for any act, default or liability whatsoever of the Company, or for any engagement, claim, jjaymont, loss, injury, transaction, matter or thing what- soever, relating to, or connected with the Company, beyond the amount of calls, if any, remaining unpaid on their shares in the stock thereof; provided, however, that the stock-holders of the Company shall be severally in- di\idually liable pro rata to the amount of stock held by them respectively, for all debts that may be due and owing to all or any of their laborers, for services performed for such corporation. 19. All contracts, promissory notes, bills of ex- change, and engagem.ents, made on behalf of the Com- pany i)y the directors, ofliccrs, agents or servants thereof, in accordance with their powers, under the b3'-laws, or bj'- voteof the Company, shall be binding upon the Company, and in no case need the seal of the Company bo affixed thereto, nor shall such directors, officers, agents or ser- vants thereby become individually liable to any third party therefor ; but the Company shall issue no bank note or notes to circulate as money, 20- Any 'inscription or action may be prosecuted and maintained between the Company and any person or corporation whatever, whether he, she, or they, be shareholders or otherwise, and no shareholder, not being a party to such action, shall be incompetent as a witness therein. 21- The Company may commence operations and exercise the powers hereby granted, so soon as two hun- dred thousand dollars of the capital stock shall bo sub- scribed, and ten per centum thereon paid up ; and any stock paid in part or in full, which may have been taken by parties conveying lands, mining rights, privileges or easements, or any real or personal property, to the Com- pany, in part payment or in full, for such lands, mining rights, privileges, easements, or real or personal property, shall.be held to have been so paid in cash, for the purposes of this section, and of the eleventh section of tliis act. 1,-i 2r -l5-L I j I j. An Act to amend the Act intituled : "An Act to incor- porate the Ottawa Iron and Steel Manufacturing Company, (Limited)." WHEREAS the said Company have petitioned to amend their Act of Incorporation by reducing the shares in their Capital Stocii to Twenty-five dollars each, instead of Five Hundred dollars each ; and also, by reducing the qualification ef the Directors to Two Thousand dollars of stock, instead of Five Thousand dollars, and it is deemed expediont to make the amendments required : Ttierefore, Her Majesty, by and with the advice and consent of tho Legislature of Quebec, enacts as follows : — 1. The seventh section of the Act of last session, 37 Victoria: chapter fifty-five, shall be and the same is amended, as follows : the word "one" in second line is struck out, and the word "twenty" is inserted instead thereof; and the words "Five hundred" in the third line thereof are struck out, and the words " Twenty-five" are inserted instead thereof. 2- The thirteenth section of the said Act shall also be amended , and the same is amended as fellows : the word "ten" in the third line thereof is struck out, and the word "eighty" is inserted in- stead thereof. 3. This Act shall come into force on the day of its sanction. .%B -.-^ ..V;.j!