The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1888-03-15
DEVELOPING DUTCH FORK.
\ New and Important manufacturing En-
terprise.
Special to the News and Courier

Especial to the News and Courier.
COLUMBIA, March 7.-There was tiled
to-day in the office of the secretary Of
State the declaration of G. J. Ircdell,
r. ;. Dcsportes and Charles Ellis, Jr..
Residents of Columbia, H. G. MoSelcy,
Il resident of Prosperity, and NJ. \.
Carlisle and George S. Mower, resi-
dents of Newberry, announcing their
purpose to form Il corporation to be
known as ''The Piedmont Land I'M
provenlcnt and Investment Company"
The secretary of State issued Il commits
sion empowering the corporatorS named
to form 4 company.
According to the terms of the declu-
ration the gentlemen interested pro-
pose to have their principal office in
Columbia. The general purposes of the
proposed corporation are to buy, sell,
lease and exchange real estate, to i'm
prove the real estate of the corporation
for sale by the erection of buildings
thereon and preparing the same for
cultivation, to utilize the timber and
and other sources of building material
suitable for building purposes Of all
kinds to utilize said building materials
and timber in such other ways as may
appear profitable, to purchase and use
such machinery and tools as may be
deemed necessary for the proper and
profitable conduct Of said business, and
to DO and perform in the conduct of its
business all such lawful acts as are per-
mitted by the Act of the last Assem-
bly,.
The capital stock is to be S25, 900 in
shares of 500 each, % per cent to be
paid in at the organization Of the COM
pany and the remainder as the direc-
tors may direct. The capital stock
may be increased from time to time.
The organization of this company is
Il matter of great Importance to the
Columbia, Newberry and Laurens
Railroad, q line from which so much
benefit is expected to enure toColumbia.
All Of the corporators are officers of the
railroad company, and their purposes
may be stated with more definiteness
than the official declaration indicates.
They have secured an option on fifteen
hundred acres of finely timbered land
in the Lexington Fork, OH the graded
line of railroad.
Here the Piedmont Company will
establish a fine saw mill and turn out
squared timber, crossties and lumber
They will furnish timber for the Broad
River bridge of the railroad and cross
ties for the line, taking in payment the
bonds of the railroad company. This
will insure the holding by the home
people most interested in the indepen-
dent operation of the road of large
proportion Of its obligations, leavinga
much smaller proportion to be placed
on the market. This arrangement will
minimize the chances ola control of the
road by outside investors, as only bonds
sufficient to rail the line will be offered
for sale.
The site of the mill will be near
Broad River and timber can be foated
down the stream to the Columbia
Bridge. In case the Canal dam is made
is made of timber, the material can be
supplied in the same way. The lum-
Der to be used in the projected cotton
mills on the Canal can also be furn-
ished i'll exchange for stock, which will
be an advantage to the mills.
The Fork is rich in fine timber and
the Piedmont Company, by enlarging
their plant, CAN supply fine timber and
wood work to this whole section. The
company will quarry granite, make
brick and develop the resources Of the
Fork in other ways if they can secure
the necessary material. The formation
of the company is assured, and it will
be an active factor in Columbia'S pros
perity.