Savannah morning news., 1885-12-02
TxsEE errs a BooM.
Steps Taken to Organize Company for
Developing the Island.


The scheme for the development of Ty-
bee island is receiving a substantial in
dorsement. The citizens meeting at Ne
tropolitan Hall last night, called for the
purpose Of organizing the movement, was
well attended, and the initial steps were
taken which put the enterprise on a solid
footing.
The meeting was called to order by Col.
j. H. Estill, and upon bis motion Capt.
denry Blum was made chairman. Isaac
Beckett, Esq, was chosen secretary.
Capt. Blum stated the object OF the
meeting and the plan under which It Is
proposed to organic . company. Inc
capital stock, be stated, viii be $5O,OOO.
Each subscriber for q share OF stock OF
the par value of 800 will receive a title
in fee simple to a building lot on the
island. He, therefore, will own lot,
besides having a voice q the affairs OF the
corporation and an intere st to the amount
OF mis- stock in the hotel, tramWay,
wharyes, artesian wells, and all the I'M
prOYements, and In all the uns0ld lands
" n the island. 1t is estimated that either
the stock or the lot will be fully worth the
amount of the subscription.
Capt. d. g. Purse, the present owner OF
the property which ii is proposed to de-
There are 300 lots on the island, each rep
resenting a share OF stock in the proposed
company. Thirty-fye Of these lots are at
what is known as the South End OF the
island, twenty-seven are atthe North End,
and something over 200 are back lots. In
addition to the lots, the company will own
the tramway, the hotel and furniture, the
long dock, the artesian wells and all the
uns0ld lands on the island. Capt. Purse
to 4
improvements and all. tor SO, 600, which,
he stated. is trfle more than one-halfthe
amount of his original investment.
Col. Estill thought the plan a feasible
one, and one which would meet with
popular approval. He moved the appoint
ment OF a committee Of five, of which the
Chairman Of the meeting should be one,
to suggest definite plan OF organization
and to ascertain the amount Of stock
which can be placed. The motion was
carried. The committee was made up as
follows, it being deemed advisable TO in
crease the number to seven: Capt. Henry
Blum, Mr.. j. &. Rowland, Maj. n. o. Til
ton, MAJ. II. u. Smart, Mr.. John G. But
Ter. Col. j. IL. Estill and Mr.. ID. r.
Thomas.
Subscriptions were called for and go
shares, representing $4,000, One-fitth OF
the stock of the proposed company, were
suUsCfiDSu 4OT D6LOIG Lue mc6Jlug du-
iourned.
The movement starts with boom, and
the committee has the assurance that the
full amount of the stock VIII be taken at
once. The plan is a popular one, and car
ried out VIII result in the development OF
Tybee into one Of the finest seaside resorts
on the South Atlantic coast. AS soon as
the company is organized, and the entire
amount OF stock is paid in steps will be
taken to improve the property and
put everything in readiness for next
season. The committee will meet this
afternoon to consider plan of organiza-
ton, and as soon as a sufficient amount
of stock has been subscribed for will re-
port to a meeting to be called for that
purpose.
The movement has now taken definite
shape, and there is little doubt that il
will result in the building up OF resort
that will rival any on the Southern coast.
Mr.. Beckett exhibited at the meeting an
old map of Tybee, showing the condgura-
tion of the island, with all the original
grants from the crown, the old lighthouse
tract, the town laid out by Josiah TAFT
nall, one OF the former owners, the Bolton
hotel, etc. Much OF the land laid down
on this map as marsh has since become
solid ground, covered With pines ahd
capable of cultivation.