The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1888-06-12

acres OF lHtlf HtHuS. j MS CpLlOn covers landS
located in central Florida, and strictly within
the orange belt They are in the counties Of
Alachua, Volusa fernando, Sumter, Mani
tee Brcyard, Levy, Citrus, Hi!laboro, Lake,
DeSoto, Polk, Putnam Marion, st. Johns,
Duyall, Orange and Lee.
"Lealnlng ofthis option Messrs, Ri Lowry
T.. ?. Howell, a. Beck, w. A. Hemphill, II.
w Grady and myself procured the control of
this option, and as it required more money
than we had to invest 10 carry out the purposes
OF the company, we determined to organize
land company under the general laws Of Flor
ida, and put on sale stock in this company.
When the books for subscription to the stock
Of the corporation are opened, which will be
within the next few days, we expect to sub
scribe FOR the stock TO the corporation, just as
our friends will be asked to subscribe, and we
expect to pay up our money just as they win
be required to pay theirs, and then when we
have sold sufficient of the stock we will pay
for these lands, take title to the corporation,
and sell and improve the lands and declare
dividends among the stockholders"
what has the company made the capital
stock of the coTporationY
1--WE have not put any water into the stock
1t is all pure liquor, unadulterated We have
$4,000 acres of land covered by our option.
These will cost the corporation S550,000. We
have made the capital stock of the corporation
100000. or little more than one dollar per
acre for these choice selected lands. This
United States price for governments lands, and
you will remember in reference to United
States lands in Florida that parties are required
to live on them for certain length
Of time before they can be bought,
"This valuation is also much less than the
price at which the railroad lands of Florida
arc held by the various companies controlling
the same. / myself do not believe that there
is an acre of land in the United States not in
desert which is not worth more than one dol
lar per acre. ! am All American with conf
dence enough in my government to believe it
Is worth "A great deal more than that. Now,
there is but one Florida. There is but one
state in this union which can raise oranges
successfully, and that state is Florida Exper-
iments in lower California and in other states
have proven that those sections are not equa
to Florida. and the California boom is about
over. There are at least sixty million people
in the United States, and all OF them eat or
anges who can get them.
"AS Mulberry Sellers says about the eve wa
ter, the more oranges they eat,the more oranges
they want to eat. But seriously as the nonu-
lation in the United States increases, and the
demand for oranges and early vegetables and
other semi-tropcal fruits increases, Florida
lands will increase enormously, and in five
years, L do not believe that there will be an
acre of tillable land in the state of Florida
that will not be worth at least ten dollars per
acre. There Is, as you know, an immense tide
Of immigration coming into Florida each year.
Well-to-do, intelligent cultivated people--a
to escape the rigors of the harsh northern eli
mate. IN addition to that the enterprise of
Mr. Flager in building his mammoth hotels
at St. Augustine, and his proposed hotels at
other places, and the other numerous
frst-class hotels all over Florida
have brought an immense tide of northern
tourists there in the past winter, and will CON
tinue to bring them in the future in larger
numbers. All these people are consumers,
and il requires an enormous amount of fruits
n To
ida for them-they must be reiSed on Florida
soil. The increase in the vegetable, water
melon and orange business of Florida has been
simply astounding in tho past few years.
Look mt the railroad statistics on this subiec
See what story they toll.
"BeSides all this If any ono will examine
into the matter he will find that there are now
now railroads being built and others extended
into Florida, thus showing that capitalists who
are always timid about investing in uncertain
railroads believe with absolute confidence that
| Florida has great future.
Gan these things viii make this land very
valuable. Upon the faith of that myself and
my friends in this company have put onr
money into it, and we believe that there will
be large dividends. Take tho instance of the
Elyton Land company, in Alabama, the Shelf
field company, of the Admission company and
various other companies which did not hayo
near rs valuable properties as these which
come within our option, So, after this long
ramblc to answer your question, we think the
| capital stock is now about one-fifth of what
| these lands are worth"
"But you need $55O,OO0 to buy these lands ;
| then why make your capital stock $500 000?"
I'VE do that to be sure to have money enough
| to carry out our purposes, Wemay desire, and
| doubtless will, locate towns and villages upon
| some of the best sites, and TO take some stock
| i'll hotel companies, and for other necessary eX-
| ponses of that kind. II we do not need the
| money, we shall not eXpend it. We intend to
| manage this corporation as carefully ard as
prudently as if the same were oar own private
property. VIZ have in our articles of asSocia-
| ton provided that the debts and liabilities of
| the corporation shall not exceed ten per cent
| of its capital. Tho Florida laws are very
| stringent upon divcrting capital stock from tho
purposes for which it is subscribed, and upon
paying dividends where they have not been
earned
"Nou say that these are part of the DiSston
landsY'
YES. nisston made q selection of four
million acres of lands from ten million acres
then owned by the state of Florida, and his
| selections are recognized rs being among the
best lands of Florida l will read you letter
from the land commissioner of the state OF
| Florida. DR.. G. l.. Mitchell, which shows his
! opinion of this property.
Dear Sir: ltgiVcs me much pleasure to be able to
say that the lands that you control are located in
| the best part Of the state The Disson purchase
| included thousands and thousands of the very
finest lands in lie state Much of the landvou now
| lands may be low and wet II SO, only so much
the better as the low lands better for almost all
| practicable purposes. For sugar cane, rice. and
most field crops, you need low lands 1t you want
| TO grow bananas plnapples Coacoanuts, You need
| the low lands II you make il success. Some Of
our fines, orange groves are on the low palmetto
| lands. Mr.. nsston in making his selection had
about ten milton acres of land to select from. The
| selections were made by practical land men. Some
OF the land TINT located for Mr.. pSstou sold for
ten dollars and upwards over fnur years ago Some
selections OF sold much higher. l think You have
/ been very fortunate in getting control Of such u
/ valuable tract of land. only regret that am not
able to double my stock IN your company, for am
sure that the lands in two years Will loo worth ten
| times what they arc AZ present | yours very
| truly, C. l.. MITCHELL,
| Commissioner Of Lands and immigration.
! CDR Mitchell ut the Same timo wrote in be-
/ half of other parties, asking us to sell him
| thirty thousand acres included in our option at
! an advance of twenty-five cents an acre upon
/ what this corporation Will have To pay fer the
/ same. and we rCf0sVd the otlor."
"lIow will your subscriptions he paid?"
"rhey will be paid in United States curren-
! cy. and will he paid in iustallmentS as called
/ Tor 10y the board OF directors. and will all he
paid before the first of January, and Will be in
/ shares OF one hundred dollars each. As / have
/ said there is 10 be no water in this business
81.