The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-08-12

The following account Of the fornascu CT q oom,~.w
in this country for the purchase Of an Immense tract a
land In the State q Georgia take from thu Lends.
Nes Shis is the first We have heard q the conoer,
and 1t will probably be to NEST Of our readers i,
Georgia
TnE AMERICAN BIITisH TIMBER AsD Corros LAID
COMPANY.
Irg American proprietor Of stock In tie America.
ard British Timber ana Cotton Land Company and no.
Eevine that understand it's plans and objects read,
with much surpi your stricures in your valuable "a
per Of yesterday but when referred to tho aaverse-
mont upon which your remarks predicEted fros
to admit that your Interpretation justified by tho Ian
guage Of sad advertise which contains fundamen.
ta calculated to lessen the intrinsic merits
value OF the enterprise IL evident that the adver
tsement has been drawn up by person persons
who have not taken the trouble to maze themselves ia
mhar With the true position aud objects Of said compa-
n.y. ana that its phraseoogy has been overlooked BY the
respectable coard of agency who to nv knowledge are
deeply impressed with the magnitude safety and genu
inc merits Of the undertaking and justly believe that It
cannot fail TO be very remuneratve to the stockhodoxs
If managed with ordinary cere.
The company has not been formed for the purpose of
purchasing tract OF forest land alleged The
facts that the land has been already and
has already been conveyed by the propreors three
spectacle trustees for the ana benefit Ut the company
ana tho deed Of has been recorded tho
counties in which the land is situate The title has been
thoroughly Investigated, and pronounced BY emiseut
lawyers to be und.ubtec and adecssble The dood q
trust was drawn by one Of the most learned legal ge
men in the United States Hon Charles e. Mayer Of Bal.
timore) who Ia the President Of the sad company and
such, has overlooked any matters tending to
full ample security Stock created and taken in
the United States to the extent Of eco Geo. and beads
issued to the Of flO0 00e bearing per oent
interest The object the Board Of Agency in London
in issuing per cent preferential shales to the
amount OF *l4c 700, Is TO extiDguish pay OF said
bonds, and cfesto sufficient working capital for tho
active cperatons CT The company The preferential shares
holders here have the most ample guarantee The whole
one million and ortytwo thousand pledged
their security, and the claims Of any American stock
holder for any portion of tho dividends postponed
until the holders Of preferential stock receive their per
cent dividend beg also 10 state that the object Of tho
company Is not TO cultivate the land when cleared c(
timber you erroneouy suppose 1t Is their ntention
first to convert the valuable yellow Pine timber into
sawed lumber for expectation which, facts will show
can be made very prodtabe aud then when the timber
has been cleared Off to sell the lands the purpose Of
cultivation at an increased price Thus you the
pany has two fold source of revenue either Of which
must be remunerative have only to add, that
regard this enterprise of the safest aud most
legitimate which has been offered the British public
and do not doubt that any parties who will take the
trouble to investigate the matter examine its details
will concur with me in opinion.
Your obedient servant, E0BT G. GIST
WARNf ORD COURT, July 90