The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1890-03-19

ment, whereby expenses may be res
duced and development facilitated.
For a clearer explanation, let u
take "Series A." which consisted of
the company's first purchase. This
vas tract Of sixty acres on the main
street Of Salem, about mile west of
the courthouse Not a dollar was re.
presented 10 the capitalization IN ex.
cess Of the then actual value Of the
property, plsls the necessary expenses
Of administration and management
The.e expenses were cured down 20
a minimum. The men at the helm
we're men Of integrity and had q
laudable ambition to carry out an
honest scheme. That stock, i. e.,
"Se,is A." has all been taken and
the work Of preparing the lots for sale
is now going on. In other words, a
portion Of the Ian ! which forms the
basis Of .Series A" was laid out into
lots streets we're made, and at pre-.
sent values the lot, when sold, will
realize sum sufficient to pay the
stockholders Two or three for one
Moreover, considerable portion Of
the purchase was for the present left
lnplslted, and this will ultimately
m ne the profits to the stockholders
al least four for one II is likely that
within IL or Is months all the lands
in "Series a. will have been sold, the
proceeds divided and the stock can.
celled.
After the stock in Stries ga" bad
all been taken, simultaneously with
the development and improvement Of
thst property, new purchase of acre
property was made and the books
open d for stock In Se'ies b.. This
'B" stock will represent 4 hundred
acres cir, ely across Roanoke river
from the point ~b,e, Al cording to
existing surveys, the Baltimore q
0nio's Valley extension will meet tue
Norfolk 4 Western Railroad This
land coYers the glorious scope Of
IL welye O'clock l'eak,' that imme-
mortal Landmark Of lie upper Vir-
ginia Valley. whose summit is the
church spire in a village Of minor
mountains. This delightful residen-
tial sec ion, so soon as the new iron
bridge is thrown across the Roanoke
river, a, the foot Of TiDsley street,
will be as accessible to business az any
OF the recent additions; ard even now
pedestrians may reach it over sus.
pension footbrIdge 10 20 minutes,
while to vehicles q smooth, safe and
shallow ford offers easy access, and
will De probable preferred by many
even after the new bridge is built.
This high, dry, naturally drained
one hundred acres will be laid off &C
cording to the confguratioa Of the
land with view 70 aesthetic efsct
Arrangements are already Ender way
for running water mains.
Now there are some places that |
know of where such a possession
would be represented BY q eapitaliza-
tion of hundreds Of thousands. But
the conservative men q: the head oi
this West Salem Land 60. have
placed the capitalization Of this pros
pc ~, on which the "Series b. stock
wall be issued, at only $4,000. Thi;
is divided into $500 shares Of paI
value Of $40 each, and may be paid
in monthly installments OF one dollar
share. SO soon as half Of the paI
value or $500 per share shall have
been paid in, the stock Is to be issued
as full paid aud n)na sessable.
/ Now let US for a moment considrI
the prospects Of profit. There vii
be 400 choice 80 foot lots in this 10l
acres belonging to series "B' ut S2OI
q piece, that would be $50 600. sup
pose expenses and improvement
cost one-iourth of this SUN, Their
will still be left sG0,0U0 to be diyidet
among stockholders. OF S24 10 eacl
, share. which, at the outset, coss onl.
$500. And If peradyenture !
! should happen that the lots shoul'
net only 500 over aud above expeu
i ses, the result would be S16 TO eac
) share, or a profit Of sl1 on an outla,.
! of S..
Whenever gocdssfe piece Of pre-
! perty Is discerncd, one that promise
i speedy appreciation in value, no mai
4 ter whether in Salem or In Botetoul
!. county Or Bedford, or 10 any count
/ adjoining the county Of Roanoke, th
3 plan OF this company will be 10 TAX
\ Il in and develop il, issuing upon II
!. series Of stock for that purpose : sue
il privilege being Incorporated In th
n 9 jmpan,s charter. Thus there vi
\ be constant opportunities for inTes
!. ing al small outlay in good eniel
.e prises. ,,-
n Its likely that 20 soonas the stoc
II of aSeries ~ has been placed, whiS
4 will be prior to March l, q buildIr
.. series will be inaugurated, the pu
re pose ofwhich will Jc, primarily pro