New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-10
THE FUTURE OF LONG ISLAND.
AN ENGLISH COMPANY FORMED TO DEVELOP TT
RESOURCES OF TIE ISLAND-A TALK VII

AN ENGLISH COMPANY FORMED TO DEVELOP THE
RESOURCES OF THE IsLAND-A TALK WITH
AUSTIN CoRBIN.
Austin Ccrbin returned to the citv Yesterday
after trip in the West. TRIBUNE re-
porter called upon him for information about his
pl ms for building hotel in London, and about the
Among other THINGS he sad 1T is true that several
of us have been talking for some time about the
feasibility of building an American hotel on the
and think ahout 3 great many things that never
come to anything"
"What makes YOU think that large hotel on the
American plan would be a profitable Investment In
Lcn Mon, Won 90. III. nnnnor Of ,orio.n. who
70 Europe every summer is very large, and this
travel increases every year. The class that goes
likes and can afford tn stav nj good hotel. Now
there none snch in England, at least none of the
kind proposed, because If it is built, it will be the
finest in the world. But, as vet the plans in
definite hat nothing positively can be said. When
anything new turns up i shall be glad to let you
know w.. o,.u. .,,.. ~. :.....-,.u. os
They are somewhat extensive and have been
laughed at by a good many peoc;le. But
Beach. The great thing about the proposed i'm
proyement of Long Island is the successful organ;
enough to carry ont anything that is feasible. Tho
company is known rs the Land MortqPge Invest
enn fnf Of @ Gpmy o %s s h. nas
"Have any OF the shares been takcnS'
Yes, the first allotment was $4,000. 1t was
taken within week from the time ey
were first offered, The charter of. the
United States and Canada: But il is probable at
Long Island will be the only place, because of the
advantages there offered and because of the close
proximity to the large markets of Brooklyn and
"Who are the directors of the COMPANY
Among them are John Dick Peddie, member of
Parliament chairman Of the Colonial Investment
and Agency Company of New-zeaiand and irector
of the Sc0ttish-American Investment Company
Lord George Campbell, rector of the
Railway Passengers, Assurance, Company and the
Company Robert Farqubarson member of Parlia-
ment, director of the Mortgage Loan and Agency
Company Of Australasia Lieuteqant-C oonel Gcor e
the American Freehold Land Mortgage Company of
London George N Martin banker and Director of
Company Briudley Nixon, director of the London
and Provincial Bank, ana William A. Prescott"
Are there any Americans interested i'll the COM
with the exception Of bot ccn / 900 and Q 900
shares held by myself and 4 eW of my friends, the
company is composed entirely o. English capital
ists.o
Who win be the agents in this country ?"
The Corbln Banking Company"
What does the company propose to do7"
1t will he the ann OF the company, IN connection
such improvements on the island that New Workers
Will not have to go TO other States for their summer
homes. There is an ocean front of 100 miles. unsur-
p Ssed by any i'll the worl t. and there is reason
why 1t should not he made available. There
are thousands of people who would be glad to
IL.
The railroad company will do everything in its
power to assist the Investment Company, and be-
heve that With easy and cheap facilities for gong
to and from tie city that a large number of people
will invest and build"
" Is it the intention to improve for agricultural
purposes
THAT is another feature of the undertaking that
is by no means valueess. Along the line OF the
railroad there are than 100000 acres
of unirnproved lands that the company
proposes to purchase, improve and sell on
such easy terms that farmers can afford
to buy. There is no finer land anywhere
for market gardening, while, of course, the close
proximity of the markets offers great inducemcnt.
Last week Mr.. Prescott, of London, one of the
leading men in the Investment COMPANY and who
came out here in behalf of his company, and myself
made a trip through the island. We went the whole
length of the south side, Stopping at the principal
pointe, and Mr. Prescott seemed to be highly
pleased"
where will the company first begin operations ~
Probably in the Shinnecock Hills, bet Good
Ground and Southampton, where there are some
5000 acres. 1t currently reported that il
| had been purchased by Mr.. Baldwin for a sheep
ranch, but 1t il stated that the Mortgage Com
pany has secured it, and will begin operations al
once 10y building two moderate-sized hotels. At al
events, the public will great and pa wing improve
ments on Long Island in the next few years s."