Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1889-08-21
ITS ApvANcE-rHE PROSPECTIVE.

be handled that caused few men OF ROCK
bridge to put their shoulders to the wneei
of enterprise which projected the grand re-
suits as they will multiply and mature at
Buena Vista. For few men, though
they were possessed of fair share OF nome
wealth and known for their solidity as 10
responsibility, to step in and purchase ou',
RIGHT forty-two thousand dollars worth OF
the property embraced in the scheme, NOT
knowing what the result OF the pfoJecV
would be, was a movement which tlmid
men do not make, nor was it warranted py
safe speculation as those who enter such
enterprises generally view them. Ii the
SC heme succeeded, all would be well; 1t II
did not, they would have property on thelr
hands only yielding an income as agrieui'
tural land, of which they already had an
abundance, with the hoped-for expectation
of mineral development and manufacture
ing city, but dimly appearing in the uncer-
tain and often disappointing future.
After the managers announced their
scheme to the public assemblage in Frank
lin Hall in Lexington, as prudent and Wise
men they repaired to their council room
for the purpose Of dispatching proper
agencies abroad with the hope that in some
reasonable or even longer time the returns
would come in, upon which, at still laIel
day, the suficiency of subscriptions would
L. Dat no farn n
pectus had been made known to few
points outside of Rockbridge county, the
wires brought intelligence to the movers Of
the rapid progress going on, and soon the
order had to go forth in return to cease
operations: that all of the provisional
stock had been taken, thus identifying
hundreds of citizens of that county and
other sections of Virginia and few with
out it's lines with this rapidly developed
movement. The prospectus had no cellars
or ground-foors for the managers OF the
scheme-for the men who had taken the
risk of absolute purchase referred to, did
it not for selfaggrandizement or gain, moi
uncommon in working up development en-
terprises. Their purchase Of CHARTS Bot
tom" went in at the price paid for it, anc
no reservation or privilege of any KIND
enured to them, not possessed by every
other stakeholder.
In less than thirty days, though not an
ticipating such rapidity in the execution O
their work, they had all things in readi
ness for the permanent organization, which
az stated, took place six months ago, anc
now we come TO speak Of
THE PROGRESS MADE.
The Board of Directors found multi
plicity of labors and much difficult work OF
their hands from the very commencement
The vast mineral, agricultural and forest
lands to be arranged for future utility and
profit; the plans for large city to be
matured; the assignment OF lots to stock
holders, and the reservation of sites for in
dustrial plants, and the solicitation of in
vestm epts were some Of the leading mat
tiers which required consideration first.
The city has been laid eff and elegant
maps illustrating it furnished and on hand
for the future. An elegant hotel erected
and opened since the first of Jaly, and
now patronized by from twenty five to fifty
guests per day-among them summer resi-,
dents from the South. Streets have been
graded, and large fountain Of cold, pure
mountain freestone water furnished the
hotel by gravity. Business lots have been
sold for prices as high as $500, aud the
operations in real estate are fully up to the
standard, which any reasonable expectation
should demand at this time.
OF the principal industries established
stands first the
$500, 900 FURNACE AND THE $4,000 PAPET
MILL.
The stock Of the Furnace Company haE
been principally taken by &. W. Clarke 6
Co., of Philadelphia, the financial repre-
sentatives Of the Norfolk & Western and
the Shenandoah Valley railroads and By
the Chesapeake & Ohio railroad. The
furnace site has been located by Mr.. Ed
mund Pechin, of Ohio, the geoigist Of The
Philadelphia parties, and is on the oper
space opposite the location Of the Unior
Railroad Station, between the roads and the
river.
The stock for the papee-ynill has beer
more generally diffused. Mr.. B. c. Moo
man, Of Buena Vista, is leading in the or
l cror nj md Thn
mill is to absorb the pulp-mill cow il
operation, and its products will be wood
pulp and linen paper. The pulp.mi al
present is paying very well, and finds ar
Another valuable enterprise which ha:
commenced operation is the
BUENA VISTA BUILDING AND INVESTMENT
COMPANY.
This is chartered company which has
acquired possession of one hundred and
fifty lots scattered over the entire plan and
territory Of the city. Some are for bust.
ness purposes, the others for Residences
They will build upon all these lots, and are
now erecting both business houses and cot.
tages, for which there is an immediate de.
mRnd
This is the Company ordinarily known
as the ''Staunton Building Syndicate" Il
is composed of Messrs. A. G. Gordon, B.
F. Eakle, William Patrick and E. I. Jones,
Of Stanton; and f. T. Glasgow and W.
s. Hopkins, Of Lexington. Mr.. Gordon is
the President, Mr.. Eakle vice President,
and Mr.. Hopkins, Secretary and Treasurer
of the Company. We look for leading
work from this company, alike profitable
to the shareholders in it, as, we are sure,
the results will be to the Buena Vista
Company and the growth of the town. 1t
is the Pioneer Building Association and
obtained valuable privileges from the
Buena Vista Company, because it is a