Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-05-09
PROSPECTUS OF THE ROANOKE
[ WATER POWER AND LAND
COMPANY.

mile 1fOlll Tie OiiS nail AS D0l VI ~.
railroad, as staked out and adopted
by the Norfolk and Western railroad
for early construction on the south
bank of the Roanoke river, runs
through the property, thereby devel-
oping, for industrial plants between
the railroad and the river, sites that
cannot be surpassed.
One of the significant features OF
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 the
rapid and cheap construction OF a
canal whereby water power may be
furnished at low cost to manufacture
ing enterprises. 1t is proposed TO
build this canal at once, and to estab-
fish. at the earliest possible day, an
electrical plant to furnish light to the
property and vicinity, power to street
RAILWAYS running to and through the
city, and what is more important than
all. to distribute small power TO the
houses of workers" both male and
female. located on the company 5
property.
1t is proposed to connect the estate
of the Roanoke Water Power and
Land Company by iron bridges with
the streets and boulevards of the
Mountain View and West End Land
Companies tracts, two of the most
attractive suburban additions 10
Roanoke city.
1t is believed that this enterprise,
combining the facilities afforded by
the railroad and the river. III conjunc-
ton with thegreat natural advantages
of the site, means the establishment
of a new industrial centre in Roanoke
that will prove most attractiveSto the
outside world, and largely and rapidly
advance the coming of what is now Il
certainty-that Roanoke is TO be. at
no remote day. the principal indus
trial city of Virginia, il not OF the
South.
The completion of the Roanoke.and
Southern railroad, now al assured
fact. connects the Southern Atlantic
Seaboard by Il bee line with this To-
calitv, and opens direct communlca-
tion with the high grade ores and
irons of Eastern Virginia and North
Carolina.
The terms upon which the public
are offered an interest III this enter
prise are entirely novel, inasmuch as
the promoters and managers do not
receive any compensation until the
moderate amount of capital, which
thew propose TO associate with them.
is absolutely secured and reInunerated
The Capital Stock of the Com
pany will be. ..................S3 $780, QUO
OF whichthere will be Prefer
red Stock. .......... -. $500. l00,UOU
And common Stock. 5000, 900
OF this 100000 of common stock and
$50, 1000 of the preferred stock have
been issued for the property fully
paid for, leaving remainder in the
treasury for future use, OF $4,000.
The preferred stock will be entitled
to per cent. cumulative dividend
before any dividends can be declared
on the common stock. The preferred
stock will be receivable IL any time az
its cash value in payment for bust
ness and residence lots 70 be lald out
and placed upon the market. II, at
any time within two years, the holder
wishes TO exchange secured and pre-
ferred stock for Il speculative one, lie
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 a pro
portionatepart OF the proceeds thereof
Shall be set aside, so that every dollar
Of outstanding preferred stock shall
be properly covered by this sinking
iund before any dividends can be de
ciared on the common stock. In con
.ideration 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 Il 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
nent. They do not seek spasmodic
boom, but Il steady and valuable
yrowth. The property they control
: admirably located and naturally
favorable. Business enterprises viii
be confined to the broad, elevated and
andy plateau lying between the rail
'oad and the river. Residence lots
viii be located on the rounded, wooded
andbeautiful foothills to 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
tor the purchase of a home, the par
of the stock, both preferred and com
mon, is placed at $20-twenty-five (2j)
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 S350,00 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 used
III lilS paw elttieiStiNS 'tiiNA iOi
the establishment OF industries. In
view of recent sales of adjacent prop
critics, it will be seen chat the pre-
ferred stock to be issued is far below
the present value OF the mere land
without any improvements.
Only 100000 in preferred stock will
pc offered for sale. This will meet all
deferred payments on the land, giving
it in fee, and place $4,000 in cash in
the treasury as working capital, to
be only used, if actually needed, in
adding value to the property.
The right to subscribe will remain
open until June LIST, 1890, and the stock
will be allotted according to priority
of subscription.
The company has been duly char
tered and organized. The Ulcers for
the ensuing year are:
President, R. b. Moorma.r :oanoke,
Va: Secretary and Treasurer, J. w.
Shields Cashier First National