The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-08-11
A STONE SPECULATION.
Chicago Syndicate Prospecting Through
Texas for Granite and Marble Invest
| menta

Chicago Syndicate Prospecting Through
Texas for Granite and Marble Invest
ments
Mr.. T. e. Grinnell, of Chicago, Illinois,
arrived in the city yesterday, and is regis.
tered at the Grand Windsor hotel. Mr..
drinnell is in Texas on stone speculation,
being the representative OF a strong syndi.
cate OF Chicago capitalists, who are DESTROYS
OF engaging in the building stone business,
on an extensive scale. The great amount
OF hard material demanded for the erection
OF tirst-class business buildings in Texas the
past two years, and the shortage Of tho
orlck supply the present season has created
great demand for superior quality of
sano stone for architectural purposes. The
syndicate represented by Mr.. Grinnell i,
something similar to the Farwell- TAYLOR
Texas state capitol syndicate, also a Chi.
cago enterprise. Mr.. Grinnell's syndicate
has had several prospectors in Texas
nearly three months spying out quarry
ianus OF native brown and
gray granite and Texas marble. Mr.
Grinnell yesterday informed HERALD re-
porter that Investigations had been emf.
nently successful and satisfactory, and that
before the present year closes the mem Der,
OF his syndicate will avail themselves of
the general incorporation act and organize
company to be known as the Inter State
Marble and Granite company for furnish.
Ing hns stone and marble for building pur.
poses. lie says there are many fine quar-.
rles OF these stones III north, north
west and to the west of central
Texas, but as yet they are entirely unde.
veloped and almost unknown, because OF
the. lack of transportation facilities; that
with only three local exceptions, no lines OF
railway penetrate these localities. He saws
a iirst-class durable article OF brown granite
| Tor sand stone) exists in almost incxhausti.
bic quantities in Parker, Palo Pinto and ad.
joining counties; also that fine quality OF
marble is found in Burnet, Liano
aud adjoining counties; and that
the same IL trpe of several
localities along the line OF the International
u Great Northern railroad between Austin
and San Antonio. The .Burnet county
and other surrounding quarries) are being
pierced by the Austin & Northwestern
narrow-gauge, and the Parker and Palc
Pinto quarries could be easily made ac
cessibe by the Texas & Pacific and the
newly projected roads through that section.
Nearly oil the desirable stone regions
have railroads projected through them
and Mr.. Grinnell says he predicts that two
years hence there will be more stone than
brick used for building purposes in nearly
all the principal towns Of Texas, and that
millions offoreign and local capital will be
used to develop and carry on the business
He says two fine Quarries OF granite have
been discovered within eighteen miles OF
Dallas, but that they are not penetrated by
any railroads. He says his syndicate have
made offers for the lands, but as We,
no agreement rs to price ha.
been arrived at; He says nearly every mar.
row gauge railroad project in this state
pointing westward, generates somewhere
on its line either granite or marble of
practicable, substantial building character
lie says the headquarters and principal dis
trlbution point for his syndicate when bust
ness is inaugurated, will be either at Aus
tin or Dallas, whichever shall furnish Tn,
most favorable shipping facilities. II,
thinks naturally the quarry product woulC
be more tributary to Dallas, and that wher
such lines as the Texas IL st
Louis narrow gauge the proposed
Fort Worth & Rio Grandc narrow gauge
the Gull Colorado Il Santa Fe, and III,
Texas Central northwestern extension
| (WaIahache, Weatheriord, etc., are il
operation, that the headquarters will ulti
mately seek Dallas. Mr.. Grinnell contem
plates remaining in Texas several week
and Will then return and make u favorable
report to his Chicago capitalist associate
identified with the enterprise.