Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-06-11
ASHEVlLLe's NEW HOTEL.
Cool Million Capital-Just the Thing
Richmond Wants, Park, Grounds,
md All.
Especial Telegram 10 tho Dispatch.I

| AsHEvILLE. n C., June 10-The organi-
zation Of a company for the building of a
large hotel IN Asheville. the rumOr Of
which has pcryaded the air for several
months past. was perfected to-day. John
ii. lnman Is largely interested. and Is
rcpresentedin the management by Captain
V. +. McBee of the Richmond and Dan
vile Railroad Company.
The following ere the officers of the com
pany: V. f. McBec. president d. G.
! Naddell, president Of the National Bank
! of Ashoville, treasurer, and +. g. McNeely.
! secretary. Board OF Directors Y. c.
McBce, A. r. Andrews. j. G. Martin, G..
y. Ranton, W. 4. Pcnniman, and 5. v.
Battle. The capital stock Of the company
| j. fixed at : 900. 900 III shares of 500. One
! quarter or more has been taken by Dir.
| Imam and his immediate associates.
Easy ENOUGH.
II was required that $4,000 OF stock
| should be taken by Asheville people. and
| this condition has already been virtually
| complied with. Arrangements have been
made to place ~250, 00O first mortgage per
cent. bonds at par. The proceeds are 10
be used in the building Of the hotel. 1t -
to be located on tho southern slope Of the
mountain range east of Main street and
south Of Beaucatcher or beaumont. There
Will be about 200 acres of land owned by
the company, with frontage Of 2 500 feet
on Main street. Seventy five acres will be
used Tor the hotel buildings, grounds, and
park. The rest will be divided into lots
and sold for cottages and villa SITES. The
view from the hotel site Is very fine. Four
hundred thousand dollars OF the stock Is
10 be offered tor sale. and much of il Is al
ready engaged.
ANOTHER COMPANY.
Tho Ashcyllle Loan, Construction and |
Improvement Company has been organized, |
with paid.up capital of $500, 1000. The fol- !
lowing are lts officers President. George |
). Powell; Treasurer, w. W. Barnard ard |
Secretary, VI. j. Boarden. Board of IN |
rcctors- George :. Powell, Richmond |
Pearson, j. :. Adams, Theo. Cobb, and J. T..
Rankin. They have bought 81 900 acres of
land IN and around Ashevpe. which they
propose 10 lay ont IN parks and lakes. with
drives and electric ears running through
the property. The company have closed
contracts tor the building of a lake
seventy-tve acres IN area. and a passenger
depot to be known as the Montfork-Park !
Station. hotel on the west side of tho
French Broad river, not far from Rich
mond Hill Is projected. Its estimated cost
is S250,000. Outside parties with great
deal of wealth are interested.
The annual concert of the Asheville
Female College was given last night before
a very large audience, and was a highly
credltable affair.
The Grand Chapter Of the Royal Arch
Masons of North Carolina is IN session here
to might.
MORE LOVELY GRADUATES
The graduating exercises of the Ashe-
vile Female College concluded tonight
IN the college chapel which was crowded !
TO overlooking. They consisted OF three |
original ESSAYS read by membors of tho
Ian tt,A.
and instrumental music and rectations
al address by the Rev. w. s. p. Bryan. ,
pastor of the Presbyterian church of this !
,ity; the comforting of diplomas. and the
award of medals. The graduates number ,
eighteen, Of whom two are from South c
Carolina, seven from Tennessee, six from 4
North Carolina. and one each from Florida,
Louisiana, and Mississippi. The class is 5
he largest which has ever graduated from t
he college under the management of I
PRESIDENT Barker. The college shows every !
evidence OF increasing vitality and vigor. +