Savannah morning news. [volume] (Savannah) 1868-1887, 1886-02-09
vICTIMs on LAND sHARKs.
scOtch Immigrants Returning Home
Wiser but Poorer.

LONDON, Feb. 4.-On further inquiries
about Florida l find it is generally be-
lieved that TAFT acted on his own account
in the Sara Sofa swindle Anyway, he
acted with his eyes open. At least one
person warned him that Sara Sofa was
not lit place to c0loniZe. Some time ago
he was in treaty with the Florida Land
and Mortgage Company for the purchase
of 5000 acres on the Myakka river. near
Sara Sofa, but declined TO pay the price
of SO an acre.
LARGELY STOCKED COMPANY.
have obtained the prospectus of the
ssFlOrida Mortgage and Investment Com
pany,v OF No. St. Andrews square,
Edinburgh. The capital is $4,000 900, IN
shares of fj each, but the call is only 81.
The chairman is Mr.. Robert W. Han0ury,
Of liam Hall. StatOrdshire. 1t names
Messrs. John Patton, banker, of New York +;
J. J. Dunno, of Florida, and I. De Wit
Cuyler, of Philadelphia, as an advising
board Of the American directors, and Mr..
Piers WarburtOn, Of Florida, as manager.
Tue prospectus paints the prospects Of
Florida IN unusually glowing colors.
HIGHLY IMAGINATIVE.
OF Sara sofa it imaginatiYely SAYS: "a
provisional contract has been entered into
of Al, 600 acres freehold land, situated in
Sara sofa Bay, ard comprising a choice
selection OF lands suitable for residential
sites and the cultivation Of oranges, ba-
nanas, pineapples, sugar, etc. Nowhere
in the States do these crops grow TO
greater advantage. The most delicate
Vegetables grow there in the open
air and are marketed in she
Northern cities in the months OF
January and February. A large
interest in his property was purchased by
Mr.. Habury, the chairman Of the compa-
nv. after a careful Inspection by Mr.. War
burton" This last sentence looks awk-
ward for Mr.. Warburton. The prospectus
adds 1.-THE town Of sara sofa, laid out
on the most commanding site Of the beau
tiful Sara Sofa Bay, will be eagerly sought
for as winter home by Northern resi-
dents The cost OF land Is SO 40 per acre."
This etfusion is dated Edinburgh October
/, 1884, but is daily being circulated.
TWO WAYS OF DEALING.
As cabled yesterday, several Florida
companies here ask from 81 TO $50 an acre
for their land. interviewed the di-
rectOrs OF the "Florida Land Mortgage
Company" again to-day. 10 owns about
100000 acres in Florida, extending
through Columbia and It's adjacent coun.
ties 10 81. Lucie, on the Indian river
Most OF It's land was bought OF DisstOn q
Go. IL has sold about 80 600 acres, o.
prices (Which verified by us sale books }
ranging from 81 20 10 50 an acre. No
ticing on the compauy's maps that 10
owned land at 81. Lucie, 4 remarked
'sWhy, the Florida company owns land
there, for which IL asks from s. TO $40 an
acre."
cit must be thevery lard we are selling
then, at 50 an acre." was the reply. so
most OF the profits go to the middlemen.
UBIQUITOUS PRICES.
On this asked DR.. Bishop, director OF
the "Land Mortgage Company" whether
any land at all In Florida south of the
railways ought TO De offered at such
price as $50 AN acre. He replied that such
prices would be Ubiquitous, aud remarked
that the LAND Mortgage Company" could
sell all its land, Including lots IN Brevard,
Orange ana Columbia counties, At 50 an
acre, all round, still leaving fair margin
for profit. Mr.. willard, the managing
director, who lately returned from Jack
sOnvllle, confirmed all this.