The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1888-01-12
OFFICIAL STATEMENTS
Report Of the Secretary Of the Deca-
tur Land Co.
Other Authenticated Facts About the
Booming City on the Tennessee.

Other Authenticated Facts About the
Booming City on the Tennessee.
THE CITIZEN has made many ap- |
parently Incredible statements with
respect to the marvellous things 60
ing on at Decatur, and we confess
th at We have done SO at times with |
hesitation, not because the facts
Stated were overdrawn, but because
we knew hpWdifRcult it would be
to make men believe that such
things could be and exist in old
tumble-down Decatur. We have
had forty men to tell US, however,
that we did not half tell the tale.
Now, we come with the official
veriflcation.
The secretary of the Land Com
pany, DIR. Forrest, published his an
nual report to the stockholders last
week in which he sets out in detail
what has been done. 1t is state
ment of cold facts-no gush and
not written as an advertisement.
He enumerates the list of large
manufacturing plants with which
CITIZEN readers are familiar that
are there and foots up their actual
capital investment at $1,000, 600.
It also exhibits the contracts made
with other plants to come there and
tells of others that are to come that
will have capital of nearly or quite
as much more.
He confirms the newspaper state
ments to the effect that the United
States Rolling Stock Company will
move the Urbana car shops there.
The contract is made and dirt has
been broken. The L. q N. shops
will be almost as large also, and
DIR. Forrest says this makes Deca-
tur the largest car manufacturing
point in the south or west.
The Urbana pay roll alone will
be 100000 month.
| liz tUO CdtI COuCCI ITO diOuC viii
bring $4,000 people into Decatur.
He shows that the Land Compa
10y started in with 5000 acres Of
land and they have sold 425 bust
ness lots for between 100000 and
100000. They have donated te
manufacturer about 200 acres o.
land. This leaves them $3.50 acres
of Ian d WHICH cost them an average
Iof $50 an acre and which is now
worth from $4,000 to $4,000 ar
acre in lots. The increase has
about liquidated the expenditures
| After making this remarkable ex-
| hibit of the operations of the Lane
iCo. and showing that the stock wa'
predicated upon such enormous
prospective value, the secretary pro
ceeds to show why the stock hal
| tot responded in advanced price tt
the prospects before it. He attri
butes it to the treasury stock. Thu
company at the beginning decided
to retain $2,5O0,000 stock in tn
treasury. The possibility of tn
market being flooded at any mo
ment by this stock has kept tn
price down, and very properly SC
tits already at premium OF from
% to 33 per cent. and it cannot g
higher when there is possibility o
the market being deluged at par
The directors have voted to retir
this stock aud the secretary ask
the stockholders to ratify it an
/, set on foot the proper legal mean
to consummate it. Then the stoc
will respond to Its surrounding
promptly and men mag know whs
] he has in his pocket.
Pending the certainty OF this re
suit, it is thought by many wis
men that the stock is good in
: vestment right now.
81 Since the secretary's report wa
printed one Of the most yaluabl
plants that has yet been located 9
D Decatur has been contracted. 1t
: plant to manufacture gas for fut
! and light, with 100000 capitalize
ton. They have contracted wit
y the Land Co. to furnish all the ga
needed for fuel for manufacturer
purposes at cost of ST. per ton 70
e coal, and for domestic uses at $1.5(
for lighting at $l.50 to $1.75 pc
I thousand feet. This insures q
> cheap fuel as any city in the coui
. try has. Judge Bond attaches MOI
value and Importance to it than any
7 thing they have yet secured.
s There are 43 BUSINESS houses &C
: ing up to-day in Decatur and 80
residences-200 being already CON
= pleted. Ground is broke and four
dations made for scores of other
but the material cannot be readil
! had. The railroad cannot handl
J. the business. One day last wee
d there were 100 unloaded cars on th
b company's sidings that could nc
= be opened. The sides Of the track
t are piled with material and it
e being carried away and used up a
:. fast as it is dropped there. Their
n has been a rush of work the pas
q ten days in all kinds of work.
b A town that year ago had 120
/ souls now numbers 1000 ard ne
+ works are contracted that will brin
) at least $4,000, to say nothing {
the effect of this in bringing other
e there besides the actual operatives
81 1t is easily concluded from thes
: well authenticated facts what it
e to be the final result. DR.. Forres
/ tells his stockholders that it is to b
|. commercial city. The farm pro
: duct for a hundred miles sauar
t will seek that market. He says
e is already being turned largely tbs
! way. 1t thne appears that cit
e of large and varied mann faeture
II is to be also commercial mearopt
lis. 1t all goes to show that Deca
; tur covers a wider range than an
It other southern city and that til
e possibilities of her ultimate supren
n acy amount already almost to as
suraEce.
Of We have repeatedly SAID and V
: repeat it again that wise man wi
IL discount these possibilities by il
re vesuing in advance. Lots that b.
). gan to sell at $3.50 are selling t.
day at from $4,000 to $4,000. Croal
ers call the limit every day and I'll
y next comes another bounce in pr
u ces. We remember being in Ri
T. mingham in August of $50 and no
we laughed at Col. Jack Miller
'r wild Cd speeulations. We tsongl
= tbot No man could he found wi