62 
STATE AGRICULTURAL SOCIETY. 
‘‘ Whon the furnaces now commenced are completed, the 
money actually laid out on the original purchase of 114 acres 
will reach fully one million of dollars. This is so much rich¬ 
ness added to the soil. * * * * * 
“ This is what the company is doing for itself. What is it 
doing for others ? The farms adjoining the property could 
not have been sold for $100 per acre in 1866. Within a ra¬ 
dius of one-half mile from the mills, land was worth on an 
average $80 per acre. Now the same land sells readily at from 
$250 to $300 per acre. The company have paid out since 
May 1st, 1869, fully $22,000 per month for labor alone. This 
money is spent by the workmen for land, houses, rent, pro¬ 
visions, clothing, etc. A good deal is deposited in savings 
and other banks, thus adding largely to the local capital of 
this section. Every branch of business is benefited by this 
outlay. 
“ Of the 800 men in the employ of this company, there are 
but 22 Americans. The balance are English, Welsh, Ger¬ 
mans, and a few Irish. A large share of those skilled in the 
iron business are English and Welsh ; many of them middle 
aged men who have spent their lives in iron works in Eng¬ 
land. 
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“ The advantages of Milwaukee for the manufacture of iron 
are several: 
“ 1. Cheap iron ore. The ore of Iron Ridge can be delivered 
here cheaper than at any other point. Cheaper indeed than ore 
can be put down at any furnace in the country. The ore of 
Lake Superior can be delivered here via Escanaba, at a lower 
rate of freight than it can at any other point. By mixing these 
ores in various proportions, iron suitable for any purpose can 
be made. 
“2. The bituminous coals of Pennsylvania and Ohio can be 
delivered here at a cost for freight of $1.25 per ton the season 
through. The anthracite coal so largely sold in Buffalo, at 50 
cents per ton freight from Buffalo, and vessels are often will¬ 
ing to bring it freight free, wanting it for ballast. As heating 
and puddling furnaces for using inferior bituminous coal 
