This Psychic Reading given by Edgar Cayce at his home on Arctic Crescent, Virginia Beach, Va., this 27th day of April, 1937, in accordance with request made by Mr. [1196], Active Member of the Ass''n for Research & Enlightenment, Inc.
P R E S E N T
Edgar Cayce; Gertrude Cayce, Conductor; Gladys Davis, Steno.
R E A D I N G
Time of Reading 3:40 to 3:50 P. M. Eastern Standard Time. ..., Ala.
1. GC: You will have before you the property of The Midvale Mining & Development Co., located in Etowah and Blount counties, Alabama. In Etowah County, the company owns minerals rights on land as follows: Township 11, Range 3, East, 1190 acres. In Blount County, the company owns mineral rights on land as follows: Township 11, Range 3, East, 741 acres. Township 12, Range 2, East, 445 acres. You will answer the questions, as I ask them, concerning this property and the future development or sale of same.
2. EC: Yes - some of this we have had before.
3. Most of the minerals, as we find, are known. The quantity of the manganese in those portions where these have formerly been exploited is in a sense unlimited.
4. In portions of the land, as we find, in the southwestern portion of Blount, especially along the ravine, there are the prospects for oil and gas. The gas is more in quantity than commercial oil; and for the conditions that are in, not close but in the portions of the country, this is the more valuable.
5. In Etowah, where there have been old outcroppings of silver, there is more of lead ore than silver; and unless these were exploited in a large scale would not be of commercial value.
6. These are the conditions as we find.
7. The natural conditions, where there has been the change from these surroundings - the deposits of manganese that have been used, there are still - with the prospects of greater activity in the steel industry - the probabilities of sale.
8. As we find, considerations by the Tennessee Coal may not be properly considered - but with the Ford interests, or even the Bethlehem interests, these may be considered as a proper prospect.
9. If this is pursued, we would find a sale; and this would be profitable to all concerned.
10. Ready for questions.
1196-8 Page 2
11. (Q) Is it likely that beneath this property oil may be found in paying quantities? (A) In the portion as has been indicated, not so much oil as gas. In the Blount portion.
12. (Q) According to our representative, C. W. Ashcraft of Florence, Ala., who is trying to sell the holdings, eastern capitalists have raised a good part of the purchase money. What is holding up the full raising of the money necessary to buy the property? (A) The variation in the interests in the steel industry and those activities in same. As we find, the interests if they are referred more to the Ford - there would be the more likelihood of the better prospects, the better consideration. To be sure they have interests also in Tennessee - that is, Tennessee proper, not Tennessee Coal & Iron.
13. (Q) Most of the property being within a short distance of Walnut Grove, Ala., right around town, not far away from which the Indians once mined silver, is that silver deposit still there - and is it worth while to try to mine it? (A) As has been indicated. This may be on a larger scale and the consideration given to other minerals, rather than so much for the silver itself, be mined - the present valuation of silver. But not unless on a large scale.
14. (Q) As the selling of this property would relieve a lot of want and suffering among certain stockholders, please advise how this may be done - and if it may be done. (A) As has been indicated. While there may be consideration through the present ones that have been interested, there are greater possibilities and probabilities of sale through interesting the Ford interests.
15. (Q) We think there is sufficient manganese ore under the ground to last the furnaces in and around Birmingham, Ala., 100 years, for the purpose of making steel with iron ore. Can this source of information confirm our belief? (A) As has been indicated, in a manner it may be said the amount is limitless - for such purposes.
16. (Q) Any further advice to the stockholders who are anxious to get some returns from their investment? (A) Through the channels as indicated, as we find, the better interests, possibilities and probabilities may be had.
17. We are through for the present.
1196-8 Page 3
Copy to Mr. [1196] " " Ass'n file