The Topeka State Journal

ARMOUR PHOSPHATE BEDS
Chicago Man to Operate in the State of Tennessee.
Nashville, Dec. 30 - It is estimated that there are 2,500 square miles of territory in Tennessee covered with phosphate beds, and the total value of this vast tract at $1 per acre is $5,976,000. There are 466,000 square miles of territory in the state, and yet the estimated value of this newly discovered and enormously rich territory exceeds that of the whole commonwealth by more than half.
Two years ago the first of these beds were discovered, embracing the area of ten counties, known as the Swan creek phosphate. A few months later another belt was found covering eight counties, known as the Duck river phosphate. Immediately following this came the news that Hickman and Lewis counties were covered with phosphate, and two weeks ago a millionaire Chicago syndicate, engineered by P. D. Armour, scooped in the major part of the richest beds yet found in the counties of Maury, Davidson, Williamson and Rutherford.
Many millions of dollars have already changed hands in mining, building railroads and speculation in this territory. All the workable phosphate around Mount Pleasant is contained within 3,000 acres. It has an average thickness of four feet, making due allowance for the interference of "chimneys." There is an average of 3,000 tons per acre, and the total quantity now in sight at this small point on the edge of the richest bed in the world is 9,000,000 tons. The cost of mining and loading it on cars averages $1 per ton. An average miner can secure two to three tons per day.