HOCKING VALLEY. 657 



The first furnace erected was built by Mr. Samuel Baird, and located 

 on his lands, west of Shawnee, and about three miles from the nearest 

 railroad station. Professor Andrews published a description of this 

 furnace, in the American Manufacturer, in January, 1876, and furnished 

 the following estimate of the cost of a ton of iron : 



Two and three-fourths tons coal, at 50 cents, |1.37i, say $1 40 



Two and three-fourths tons ore, at$2.25 6 00 



Three-fourths of a ton limestone, at fl.SO or $1.05, say 1 10 



Labor 3 00 



Repairs 1 00 



Interest and discount 50 



Total $13 00 



This was at a time when the iron trade was greatly depressed, but the 

 quotations for stone-coal pig in the markets, of the United States, 

 ranged from 621 to $30 per ton. This would leave a large margin for 

 profits, and it is not surprising that the estimate was received with con- 

 siderable incredulity, but the practical results show that it was remark- 

 ably accurate. The furnace is erected upon a side-hill, with the top of 

 the stack so far below the level of the Great Vein Coal that the fuel can 

 be carried down a gentle decline, and dropped at the top of the stack. 

 The coal is here nine feet thick in three benches, is dry-burning, and an 

 excellent one for smelting. The limestone is, in part, obtained from the 

 Zoar Limestone, which appears in the ravine before the furnace, and 

 in part from the Maxville bed, which is found in the deep ravine to the 

 west. After one year'js experience, Mr, Baird gives the cost of one ton of 

 iron as fellows : 



Ore from Furnace land |3 85 



Ore, if purchased $6 00 



Coal 1 60 1 60 



Limestone 1 00 1 00 



Labor, Repairs and interest 4 40 5 40 



Totals $14 00 $11 85 



The Akron Iron Company have used the pig from this furnace for the 

 manufacture of their special grades of bar iron, and pronounce the 

 quality good. The cost of the furnace was about $45,000. The pig must 

 be hauled three miles to the nearest railroad station, and Mr. Baird 

 informed me that, reckoning the cost of constructing these three miles 

 of road as a part of the current expenses, the net profit of the first years' 

 run was 125,000. The success of this enterprise has induced the con- 

 struction of other furnaces, three of which are now in successful opera- 



42 



