Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-05-11
Tn. Grotsoes Company.

Tho Grottoes Company was organized at
The Grottoes Hotel on Tuesday, Aiay 9th,
1904. by meeting OF its corporators and
the election of officers and o Board OF Di-
rectors. The principal once on TINS COM
~, will he at The Grottoes Station of the
S%%aaynandoah- Valley railway, Augusta and
pncLinoham counties, Va, Gas the place is
nrossed NV the line of these counties and
thora viii be the offices Of the general
s,1aasgar and the treasurer az soon as the
nnn,nanv,s excellent hotel is opened TO the
nnhlic which will be about the 18th in
Slant. when its new bathrooms, heating
and other first-class modern appliances will
be completed. For the present the Office
will be at 346 east Main street, staunton,
n The officers elected were: Major jed
uo,cbt;es of stanton, Va, president
Frank r. Randall. Esq;. of Aldrich Court,
a. proadwav New York city, general man
aeer. 4. NJ. Howison, of Staunton. Va,
sec,e.erv. Charles Catlett. of Stanton,
Va treasurer. and Major n. Nj. Bell and
Cantein n. H. Catlett. of stanton. Va,
with the president, a. the Executive Com
mittee. The Board OF directors embraces
the above-nsmed gentlemen ana Mr: ).
Herbert Bramwell, of Elkhorn.. W. Va:
Cenfsin Henry b. Harnsberger, OF Port Re
nnbIic Va. and Mr.. A. ID. Wright, OF
Charlottesville, Va. -,
This company begins operations with
@ OOO OOO of capital stock, IN shares Of the
p ,,or yslne of 400 each. The maximum
canital allowed by its charter IS double this
emount. IL proposes to devote the pro-
ceeds of one half of its capital stock to the
development of its property DIV subscribing
TO industries and in other ways. Now It
offers TO public subscription 1900 shares
of its stock on the most liberal terms; sell
ing this issue of its stock. par value 500 o
share. at $50 q share, payable 50 IN hand,
and then IS a month until the $50 is paid.
The buver of five shares has a right to pur-
chase an allotted building lot for 800,
payable 500 down, S25 by the time OF al
iotment. S25 one year, and $50 two years
thereafter, with interest. Zach buyer OF
TWENTY-FIVE shares of stock has the addl-
tioual privilege of buying villa lot Tor
$3.50 on same terms OF payment. The
third and fourth payments on lots can be
made with stock at It's par value.
The basis of the operations OF this COM
panv-the foundation upon which Its stock
rests for its intrinsic value-coDslsts OF
about thirty thousand acres of city site.
mineral and timber lands. lying IN the very
widest and best portions OF the famous
Valley of the Shenandoah. extending for
miles on each side of the Shendoah- Valley
railway (soon TO become the main line TO
Washington and the North of the great
Norfolk and Western SYSTEM. and but four
miles by river valley from the Valley
Branch of the wide-reachlng Baltimore and
Ohio railroad. This cOmpany's property
includes nearly five thousand acres OF
we'll drained and almost level land, lying
at near 100 feet above sea-level, as well
adapted for all the purposes OF a great IN
dustrial and residential CITY as any that can
he found On these lands are now large
number of substantial dwellings and other
buildings. q large hotel with modern con-
veniences. including electric lights; a saw
and prist-mill. with q tirst-clasS electric
light plant, run by water-power; another
great water-pOwer for future use; the
world-renowed Weyer and Fountains caves,
known as the GrOttoes of tho Shenandoah,
the Weyer splendidly lighted by electric
lights hundreds OF acres OF parks OF
ORIGINAL forest trees miles of the South
river Of the Shenandoah. and numerous
mountain streams for an abundant supply
of water one of the most attractive site5
imaginable for grand resort hotel
one 200 feet above sea-leyel and COM
handing a view of valleys and mountains
embracing thousands OF square miles. To
these add twenty-five thousand acres OF ad-
iacent mineral lands, extending for nearly
ten miles along the western slope OF the
Blue Ridge, and having within them vast
quantities Of the best OF iron and manga
nese ores: fire, tile brick. and other clays
in abundance: glass-sands. limestones
Doth paste and calcarous. building-stone,
and great variety Of timber adapted -
many purposes. and it will be seen that this
great self-contalned estate has an intrinsic
value far beyond that ut which 1t IS capl-
talized. that being at but an average Of
500 an acre for the whole, with all its I'M
prOvements included.
This company. which has been preparing
this enterprise Tor two years. Is now ready
TO place its stock on the market.