The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1890-04-17
THE BIGGEST THING YET.
A Land and Improvement Company il
Winston With S 600, 900 Capital.

| A Land and Improvement Company in
Winston With $4,000 Capital.
Progress gx
Is the watchword.
One Big Industry
Is always followed by othera
The good which the Winston-Salcm
Electric Light and Motive Power Co
has done this city is already begin
ming to show. 1t has stirred our citi-
zens to renewed activity in advancing
the city and has set on foot another
| great enterprise that will bring about
such a boom as has never been seen
in any North Carolina town.
! For several days some of the lead
ing business mon have been busy
working up a gigantic project which
eliminated in citizens meeting in
! the Chamber of Commerce Monday
night.
| Mr.. j. NJ Rogers was called to the
chair and E. E. Gray Esq. was elected
Secretary.
1t was stated that the meeting had
been called to organize IL Land and
Improvement Co. with a capital stock
of $500 900 for the purpose of selling
city lots and building 100000
hotel. Parties in New York wish to
take S145, 900 of the stock and our
citizens We're given an opportunity to
take the balance of 1855, 900. 1t
was stated that Mr.. Z. l.. Hawks now
holds options on 700 city lots at the
price of$14 40, 900 which options would
expire within a few weeks and it was
the object of the Land Company to
take up these options, with Mr.
Hawkes. permission, open streets
through the land. build fine hotel,
run the electric car line to it and then
put lots on the market.
The Secretary was then asked to
read the following prospectus, which
shows the profits that are expected
to accrue:
PROSPECTUS.
200 acres land, cost $4,000.
Reserved for hotel and land not
available for lots, % acres, leaving
It's acres. The It's acres will make
CA lots to the acre. TOO lots, exclu-
sive of streets and avenues.
W. A. Whitaker estimates the 700
lots at 800 per lot, making $780,
900.
The following named gentlemen
estimate that the lots will average
$500 each, or $3.50, 900 for the whole,
to wit: r. J. Reynolds. J. E. Gilmer,
I. L Vaughn and W. A. Blair.
Average estimate for whole, 1915, 900
Deduct cost of land - 10000
Estimated profit. $40, 900
Profit may consist
of hotel 100000
Cash distribution. 5000
$4,000
1t will probably be necessary. in
the lots, to sell all except those north
of Sixth street, which might be offer
ed after the hotel is built.
-
After the reading of this, several
gentlemen made remarks. Mr.. Jas.
A. Gray thought the scheme entirely
practicable and saw no reason to
doubt that it would prove very prof
table
Mr.. I. l.. Vaughn said he would
show what he thought of it by doub-
ling the amount of stock that he had
agreed to take. -7--z
Messrs W. A. Blair, P H. Hanes,
A. H. Eller and Others said they
thought it was a good thing and that
they were in for it. j
Mr. J. l.. Ludlow, who had been all
over the grounds, was enthusiastic.
He thought that the property would
bring great deal more than the
prospectus showed and that every
stakeholder in the company would
make big money out of it.
The subscription books were opened
and in a few minutes $S5, 900 worth
of stock had been subscribed for.
On yesterday 100000 had been
subscribed and the balance practi-
cally guaranteed.
TWAS thought by some of the wisest
business men there that it will never
be necessary to call for more than %
per cent. of the capital stock, as the
sale lots will finish paying for the
land and erect the hotel.
And SO Winston has taken another
step forward that places her at the !
head of the enterprising towns Of the
State. Never, within our knowledge
has a local syndicate in any town in
N. c. paid $4,000 in a single land
deal. No other town can show two
such enterprises as an electric street /
railway and a palatial hotel under
construction and no other town has
three new railroads all being built at
once in different directions through
sections that are inexhaustible in
minerals, water-power, timbers and
soil
And the end is not yet
say 4
Resolutions of Respect. |
regular meeting of Cedar Grove
Alliance No. 6S5, on Saturday April