Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-05-08
DaosPE' TUS OF The ROANOKE
L WATER POWER AND LAND
lNOMPANY.

the corporation limits, and about on
mile from the City Hall. The BeltL in
railroad, as staked out and adopted
by the Norfolk and Western railrca,
| for early construction ION the soutl
bank of the Roanoke river, run
| through the property, thereby devel
oping, for industrial plants between
the railroad and the river, sites thai
cannot be surpassed.
One of the significant features o
this enterprise is that the company
absolutely controls, upon is own estate
the entire flow of the Roanoke river
The ground is very favorable for tn,
rapid and cheap construction of
canal whereby water power may b'
furnished at Il low cost to manufacture
ing enterprises. 1t is proposed tt
build this canal at once, and to estab
fish, at the earliest possible day, al
electrical plant to furnish light to thu
property and vicinity, power to stree
railways running to and through thu
city, and what is more important thar
all, to distribute small power to the
houses of workers" both male anC
female, located on the company''
property.
1t is proposed to connect the estate
of the Roanoke Water Power anC
Land Company by iron bridges with
the streets and boulevards of the
Mountain View and West End Lane
Companies tracts, two OF the most
attractive suburban additions tc
Roanoaic city.
1t is believed that this enterprise
combining the facilities afforded by
the railroad and the river, in conjunc.
ton with thesreat natural advantages
of the site, means the establishment
of n new Industrial centre in Roanoke
that will prove most attractive. to the
outside world, and largely and rapidly
advance the coming OF what Is now a
certaiuty-that Roanoke is to be, ut
no remote day, the principal indus
trial city Of Virginia, if not OF the
South.
The completion of the Roanoke,and
Southern railroad, now an assured
fact. connects the Southern Atlantic
Seaboard by II bee line with this To-
ralitv. and opens direct communities
ton with the high grade ores and
irons of Eastern Virginia and North
Carolina.
The terms upon which the public
are offered an interest in this enter
Prise are entirely novel, inasmuch as
the promoters and managers do not
receive any compensation until the
moderate amount of capital, which
they propose to associate with them,
is absolutely secured and reInunerated
The Capital Stock of the Com
pany will be. ...... SOU, QUO
or whichthere will be Prefer
red Stock. ............. Sl50, OO0
And common Stock. S2OO, 600
OF this $500, 900 of common stock and
500, 900 of the preferred stock have
been issued for the property fully
paid for, leaving Il remainder III the
treasury for future use, OF $50, 900.
The preferred stock will be entitled
TO a & per cent cumulative dividend
before any dividends can be declared
on the common stock. The preferred
stock will be receivable at any time at
its cash value in payment for bust
ness and residence lots to be laid out
and placed upon the market. If, at
any time within two years, the holder
wishes to exchange secured and pre-
ferrcd stock for speculative one, he
can, by giving up his preferred stock
for cancellation, receive IN return
therefor an amount of common stock
equal to the preferred stock relin-
quished In making any sales OF
lands, the charter requires that pro-
portionatepart of the proceeds thereon
shall be set aside, so that every dollar
of outstanding preferred stock shall
be properly covered by this sinking
fund before any dividends can be de-
clared on the common stock. In CON
of the absolute security
given 10 the preferred stock holder,
the company reserves the right, after
two years, TO retire any outstanding
preferred stock at par and accrued
unpaid dividends.
1t is believed that more honest,
legitimate and attractive proposal
cannot be made TO the investing pub
lie. The promoters of this enterprise
are confident that large ultimate
profits can be made by conservative,
energetic and methodical manage
ment. They do not seek spasmodic
BOOM but steady and valuable
growth. The property they control
is admirably located and naturally
favorable. Business enterprises will
be confined to the broad, elevated and
plateau lying between the rail
I'd the river. Residence lots
:. -. ~ Seated on the rounded, wooded
andbeautiful foothillsto the westward
and southwark. The drainage of the
whole can be made perfect at Il mod
crate expense.
In order TO give people of moderate
means an opportunity of becoming;
interested where their money is Sc
cured and available at any moment
for the purchase of home, the PAL
of the stock, both preferred and com.
mon. is placed at S20-twenty-tive GO
per cent. to be paid upon call after
the allotment OF the stock, and the
balance in monthly calls Of ten 90
per cent.
In no event can the capital stock
exceed $3.50, 900, but may, and proba
ably will be, largely reduced by can.
collation. of the preferred stock USED
in payment of lots purchased and re
tired.
The preferred stock can only be
placed at par-the proceeds to be usec
in making the place attractive and fol
the establishment of industries. II
view of recent sales of adjacent prop
critics, it will be seen that the pre-
ferred stock to be issued is far below
the present value of the mere lane
without any improvements. =,
Only 100000 in preferred stock vii
be offered for SALE This will meet al
deferred payments on the land, giving
it in fee, and place $4,000 in cash il
the treasury as working capital, tt
be only used, if actually needed, il
adding value to the property. :.
open until June list, 1890, and the stocl
will be allotted according to priorlt!
The company has been duly char.
tered and organized. The officers TO-
the ensuing year are:
President, r. B. Norman, Roanoke