The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-02-03
FLORENCE LAND COMPANY.
A Most Excellent Showing Made at the
Meeting of Stockholders.

A Most Excellent Showing Made at the
Meeting of Stockholders.
From the Nashville (Tcnn.) Herald.
At the meeting OF stockholders OF the
Florence Land Company held a few days
ago at the office of the President, Mr.. A..
W. Stockell, rather remarkable showing
was made for that company. II was or
ganized two years ago, and by system Of
judicious expenditure, and progressive,
though prudent, liberalty it has produced
an activity which is now drawing people
there from every direction, rapidly in
croasing the population and enhancing
values. Their sales OF lots for the past
thirty DAYS amounted to SOB. 600, and yet
this was the amount sold by this company
alone, while there ARE several other land
! companies there whose sales amounted TO
a very large sum, contributing greatly TO
the development and increase of values.
| When capital and enterprise does get
turned into a place there is no enhance
nent so great as tho values Of property,
bought by the acre at Il low figure and
sold of in lots Tho lands of this company
cost them, they say, an average Of about
| SIG an acre, and yet divided into lots they
are selling il ut not less than - 900 per
| acre-this increase brought about by
natural advantages and intelligent energy
and enterprise inducing capital and popu-
lation 10 como in.
The statement OF their president showed
that they were practically out Of debt, n
condition most unusual with these land
companies; had about S2j, 600 cash in
their treasury, with $780, due them in
the shape OF demand notes. well secured
and bearing 4 per cent. interest; about
| 500, 900 in land notes ior lots sold, and
| stock in local companies and either good
| obligations and cash assets, amounting in
cash valuation 10 about 500. 600 more.
Though they have been liberal in their
grants TO enterprises, thus inducing capital
To come in and produce all their activity,
yet they still retain over 800 acres Of lots
and 1900 acres Of mineral land, and this
| lot property under recent locations oi large
| Industries, dummy road, n new railroad
AMI other Influences. is being actually de-
veloped throughout It's entire extent, locat.
ing houses and population upon IL, cnhanc-
ing the value Of that remaining, ~ lots are
sold or butt upon, and bringing immense
returns 10 the company from its sales.
This increase Is better understood when
We state That u iscslimated usually IA sub.
dividing acre property into lots, that at -
per foot or 500 per lot, OF fifty feet, an
acre will yield $1,000. and when We re-
member that tho sale OF a few lots in a
block at this figure, and the erection of
houses upon them, gradually enhances
these values TO double, treble, qundruplc,
etc. the growth Of values Is marvellous.
No wonder that Birmingham was able TO
declare a dividend amounting 10 II ,OOO,-
600 in one year, aud this increase will
always follow when population is turned
rapidly into n place.
The statement made 10 the stockholders
OF the Florence Company, placing is lots
at only $3.50 per lot, showed its assets 10
amount 20 over II, 300. ODO-an excellent
increase Of the SiOO, eco of assets intrustcd
10 the directors Two years ago.
Aud this condition Oi allnirs is brought
about with the company practically out
OF debt with a full treasury aud a large
amount Of other assets readily convertible
into cash, and this turned back into other
should soon put the COM
pany IA position 10 promise regular and
dividends 10 liz stockholders.
Arrangements are being made for an
excursion IN enable the stockholders 10
go down aud see tho property and its de-
yclopmcnls.