The times. [volume] (Richmond, Va.) 1890-1903, 1890-03-20
ROANOKE BUDGET.
Boom About Buchanan. Salem and other
Towns.


Towns.
ROANOKE, Va. Mar l9.- Special. The
marvellous growth and brilliant future OF
the magic city, has become contagious
throughout an this section. Perhaps, In
most Of these cases, the w0rn-0ut word
'bOOm" is misappied, for every enterprise
hereabOuts is upon firm and enduring
foundation. Active as real estate men and
spectators seem 10 De. there are no Wild
cat schemes on foot; no trick 90 pocket
money without an adequate quid pro quo.
and no attempt 10 put fictitious values upon
anything. The boom. il such 10 is, has come
% stay, and every day adds its testimony 60
the fact that the growth and development Of
this section of Virginia have scarcely begun.
Buchanan. on the James river, was once
the terminus Of the James river and Kama
wha cOnal. and at one time was quite "a
ilOurishng village. But canal-bOats with
mule teams were behind the age. and the
collapse of the canal put Buchanan 90 sleep.
But now railroad facilities have awakened
the drowsy burg from her Rip Van Wrinkle
sleep. and "a brilliant future is daWning.
The Legislature recently granted q charter
10 the Central City Improvement Company,
which is, in some respects, rem lrkahlc
document, cOnicrring as DO does cNtla0rdi-
nary privileges and powers. Among these
is the right TO build fifty miles OF railroad I;
tO DO banking. brokerage. insurance. mor-
camille, and manufacturing business, and.
i'm fact. any description of business not pro-
hibited boy the laws of the state and of Che
United States. Endowed with such powers.
and backed by adequate capital. il may be
easily seen that the plan set forth in tine
prospectus of the company "to build "a
manufacturing town in the groa valley Of
Virginia at and near the present town Of
Buchanan" viii De Of easy accomplish
ment.
The company was capitalized at Sl.j0l,-
O0O-two-tfths preferred and tW0-hith-
common stock. The former was allOvei
10 certain localities, Roanoke getting about
One-tenth. and IN less than forty-eieht
hours every dollar was taken, twenty-five
per cent. 10 be paid down. fifteen per cent.
In thirty days, ten per cent. in sixty days.
and the remainder subject 90 the call OF Tine
directors. not 20 exceed 1--WE per cent.
monthly.
The land secured by the company covers
about three thousand acres. consisting %
numerous town lots and several farms
mostly under cultivation. and lying in am
elevated valley where the North Mountain
range approaches within three miles Of the
Blue Ridge. At this point, James river
bursts through from the West, making "a
IihNNhAt ANi a INV rANh' ANiAAf'N| NAtN tft'-
m0nd and Allegheny division of the Chcsa-
peake and Ohio system connecting Tire East
with the West. or, more properly. the ATTAIN
tic ocean with the Pacific; Whileithe Shenan-
dOah Valley railroad, which connects the
Pennsylvania system Of railroads with the
Norfolk and Western system. strikes the
Chesapeake and Ohio at Buchanan. Into
this gap, through which all transportation
lines from the East TO the South must run
because Of easy grades aud consequent
cheap construction, the Baltimore ana
Ohio is extending the Valley branch, lbs
PRINCIPAL Southern line. and ihe Craig /
Mineral railway is being built 10 deposits
Of brown hematite ore, unquesuonably F..
among the richest and most extensive on /
the continent.
ON the west. and within easy reach, the
IimOnite ores exposed measure from SIX io +
sixteen feet i'm thickness, and ON the west /.
within three miles of the town, besides limo /
mite in abundance, there are three rich veins /
Df hematite ore, from two 20 four feet thick, /
while every foot of land owned by the COM
nany. and the town Of Buchanan ltsei, I
have solid foundations OF limestone.
The James river affords abundant water /
power for all practical purposes; the Ihes- /
apeake and Ohio and Norfolk and western /
connect buchanan by competing .
ines-abOut one hundred and nity miles
with the New River and Fiat Top coal ana .
.Oke fields: and on the completion of the /
Baltimore and Ohio from Lexington, the /
Tonnellsyille coke will also come i'm as I
competitor against those first named. The /
Virginia Western Road, the construction ol
which may be now considered assured. VIII
connect Buchanan az Big MOccasln Gap
With the Eas, Tennessee, Virginia aud
ieofeia. South Atlantic and Ohio. Chicago.
'incinnati and Charleston and the Tennessee
midland roads, giving the manuiacturns
enterprises here access 90 four coke neids,
wO lines North. two south, two East ANA
.wO West with connections extending Dee
'Ond the Mississippi river 40 other poihi
IL virginia possesses such advantages;
md. when these facts become sufficiently
.uOwn. capitalists VIII clamor Tor the
privilege OF developing the incalculaOle re-
Ources of the place. and IN oDliterauns the
lOnOred old name Of Buchanan irom the
nap Of the state.
What the city will Doe named is as yet un.
.nown. but certain 10 is that Buchanan ana
on the opposite side Of the
iyer. will soon become memories OF the
last. The town now claims about ,Zoo M
abitants: 1891 will witness bona iide pop
latiOn OF from five 10 six thousand. ana
heee will from the nucleus Of "a thriving.
ustling manufacturing city.
salem's bOOm-which was temporarily
uspended by reason of an important SUIT
rOught By the Southwest Land Company
gainst Captain ;. +. simmons. for the pos
ession Of eight hundred acres Of land
ought by the Salem Improvement COM
any-has taken "A new (and this time per /
lanent) lease Of life, the suit having been
10 the satisfaction OF all inter e
sted. Our sister city is now on the high
pad 10 the accomplishment Of the brightest
opes Of her progressive people.
Speculation in lands, both IN Roanoke I
nd Salem. is running high. and II would
e impossible % keep up with the daili
There is an abundance oi
md, and this section points with pride 70 d
~ significant fact that nobody ever lost
nythlng on real estate here. The greatest
eed here, however, as elsewhere. is that {
iversifed industries are the principal re- y
uisites 10 the building up Of prosperous D
We have many already u
l'rc are numerous others projected, but y
ieie is still room for many more, and they 1
~ coming. Y
Miss Nora ltooffQp tho v0uuQ ladv who. [