The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1888-01-19
MORE FACTS & FIGURES.
The Remarkable Exhibit Made by
the Reports.
The Decatur Problem No Longer Prob
lem--It Is Solved.

DOuu W tuc annual meotlnS OIL tuo
stockholders of the Decatur Land
Co. last Monday, as corroborative
in full of all that has been said in
these columns concerning Decatur.
1t is an astonishing exhibit-all &C
complished in one year. What will
be accomplished in another, with
such start to begin on?
The meeting was a full one with
So, 1851, 900 stock represented. 1t
was like a political convention in
point of enthusiasm. Felicltous
speeches were made and the presi
dents report was cheered to the
echo as each Of it's statements were
made. 1t was an official announce
meat Of the success of the mighty
scheme laid out BY Maj. Gordon q
year ago and it was hailed with ac-
clamation.
The board passed resolution ex
pressing fullest confidence in Judge
Bond and approving his manage
ment. 1t also passed a resolution
authorizing the retiring Of the ST.
100000 treasury stock. Following
are the salient features of the re-
ports:
PRESIDENT GoRDoN's REPORT.
On the 18th day of January, 1887,
your company was organized with
q capital stock of the par value of
ST, 100000 consisting of $4,000
shares of the par value of one hun
dred dollars each. OF this amount
50, 100000 was donated to the COM
pany by the subscribers and trans
ferred to the corporation and is now
held in the treasury with the ex-
ception 575 shares of which sec
shares were used as part of the
purchase of the Bean tract of land
and the remainlng seventy five
shares were used in purchase, as
part payment of the Owen tract O.
land and an account of advertising
1t IS proposed, however, to return t.
the treasury of the company the
S575 shares from stock still unissued
a reference to which stock will
hereafter appear in this report. O
the fifty thousand shares of stool
for which provision was made te
have the same issued to the sub
scribers there has been issued 43,
| 1881 shares, or stock of the pa
value of $4,349,S25. There is still
Idue. or will be due to E. G. Gordon
| and associates upon the final clos
ing up of contract between then
and the company, on account o
| mineral and timber lands conveyed
and to be conveyed to the company
4,2S64 shares or capital stock t.
the par value of $42S,62 Their
were 22155 shares of capital stool
to the par value of 1921, $50, which
were subscribed for but for which
the subscribers failed to pay ant
which subscriptions were cancelled
by the board Of directors at tn
lJuly meeting. OF these 2215
shares the board of directors hav
t resolved to return to the treasury G
E the company 575 shares, leavln
still in the control Of the board c
directors l,640d shares. This stoc
is now an asset of the company
. worth at present market value $40
i 400. When all the shares of stoc
. heretofore referred to including th
I164O4 as not yet issued, shall hav
been issued, the whole issue othe
than the treasury stock will be lin
tied to 100000 of capital stocE
' par value or fifty thousand shares
A Then there will remain 10 the treas
e ury of the company stock to th
: par value of s2,5o0,000 or $500
r shares.
The report then shows that til
company had bought 1874 acres G
land in various tracts upon whic
D the city is being built. The CON
f pany also bought an undivided hal
t interest in the iron orss IL 3 strip c
land about II miles long in Mul
frees Valley which is being develop
: ed and to which the I. d N. is no.
!. building railroad.
GENERAL MANAGERS REPORT.
q l herewith submit to you in de
tail itemlzed statements shown
the past years work of the genera
e management of the Decatur Lane
s Improvement and Furnace comps
= ny. A summary of the detaile
! statements submitted shows tina
t the whole of the $500 acres of Ian
owned by the company adjolnln
Decatur has been surveyed an
mapped, the corners and boundarie
thereof marked with substantis
{, stone posts, and l599.5 acres nav
been laid cut in streets and buildin
lots and comprised in various ad
= ditions numbered l, 2, 8 and 1
, A Typographical survey of this poi
8 ton of the land has been mad
with the view OF aseertainiDg tn
, best and most economical location
t for sanitary sewerage, storm waite
t drainage, water supply, DC. Add
ton No. includes 306 acres O
Hand of which of 129 acres is take
up by streets and alleys, 81 acre
e by parks, and $50 acres by lots.
: Addition No. includes 155 acre
] of which 62.5 acres are taken by
! streets and alleys, l acre in park
= and 91.5 acres in lots. Addition
e No. comprises 23S acres, of which
isis acres are absorbed in streets
! and alleys, 2.5 acres in park, ant
, I54 acres in lots. Addition No.
, includes 9O0.55 acres of which tn
|, streets and alleys absorb 3205 acres
, park 70 acres, and lots 510 acres
The sales of lots that have bee
: closed in these additions are as fol
lows: in No. !, two hundred an
six; in No. 2,sseven: In No. 3 CAT
n in No. A, none; though in the 1t
: addition a large number Of lot
G have been bargained for the sale O
s which will be completed as soon a
e the map Of the 4th addition is flee
8 The aggregate sales of lots solo. t
It date inclusive of streets and alley
: comprises 255A acres of land. Tn
aggregate sales of said lots amour
to S8O3, 44S.S5 of which 1l6,090.l
: are vet unsettled for, $6S7, $3.50
, have been paid for as follows
> S2I7,617.9S in cash and $469, 740O
l. by note, making an average of
= fraction over $3.50 per acre for th
l. land sold. The total value of IN
/, sold lots in addition ] estimate
at present current rates is S434, 800
!. The total value of lots unsol
in addition 3 estimated upon th
. | l.;s - q Qe6 Qe5 Tho ooti