The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-10-12
POWERFUL CORPORATION.
Prospectus of the Roanoke De-
velopment Company.
Capitalized at SI,1OO,OOO, Its Preferred
Stock Has Been all Taken, and $780,
900 Over--Vyhat it Has Done and What
1t Proposes to do--Eloquent Facts and
Figures.

pubic OF the scope ana character OF the
Roanoke Development Company can be
found than to publish it's prospectus
in full. 1t runs as follows: Roanoke
Development Company, capital Sl,lOO,-
200. Directors: p. l.. Terry, Roanoke;
N1Arthur G. Denniston, Philadelphia;
Joseph II. Sands, Roanoke; Richard s.
Brock Philadelphia; Clarence NJ. Clark,
Philadelphia; James S. Simmons. Roam
o,ASJ. w. Jamison, Roanoke; Joseph
A.Nhlc, Roanoke.
This company proposes to purchase
1900 acres of land lying adjacent to the
corporate limits of Roanoke and direct
ly west OF the centre of the town. The
property has frontage ofabout two and
a half miles on the Roanoke river, and
comprises some 300 or 400 acres of fine
bottom lands, suitable for business and
manufacturing purposes. The rest of
the property is, for the most part, high
table land and admirably adapted for
town purposes. The accompanying map
shows the location and character of the
property better than they can be de-
scribed.
The capital of the company is to be
Sl-inn 900, of which 100000 is for the
purchase of the property, and the re-
manning 100000 will be available to
aid in the establishment of manufacture
ing enterprises on its lands and for the
improvement of its property.
The lands of the company will be de-
velopcd on Il large scale. a fine bridge
will be built Immediately. connecting
them with the corporate limits Of the
city; an electric street railway will be
f,,ct rIr tnl lnp Of 1,f
Any's lands and across the bridge and
will be extended to the center of the
city as soon as the necessary franchises
can be obtained. This railway will
bring the property within II few minutes
ride of the business part of the town.
The company proposes to lay off and
so improve some 300 or 400 acres of its
land as to render them unquestionably
the most desirable residence quarter Of
Roanoke. This property lies high, com
manding magnificent views, and for
beauty of location surpasses the West
End and Mountain View tracts. The
electric railway will render it more ac-
cesSible than these laSt-named tracts, in
which property is now selling ut an av-
eragc price of $1,000 per acre. Upon
the completion of it's improvements the
company can readily sell 100 acres of
this land for 81, 900 an acre, or $500. 900.
L.
purchased
1t will be the policy of the company to
reserve large number of lots in every
section laid off in order to share in the
great appreciation in value that will fol-
low the development and improvements.
The history of Roanoke has been brief,
but cventful In 1882 Big Lick station
became the junction OF the Norfolk and
Western and Shenandoah Valley rail
roads, having been given the name of
Roanoke In the same year the Roam
Oke Machine Works we're established at
this point, employing some 800 hands.
These works have been increased from
time to time until they now employ
some 800 hands. Other industries fol-
lowed, and were located upon the level
land lying along the railroad and east of
the machine works, until at last nearly
all the land in that section suitable for
manufacturing purposes has been OK
haustcd. Meanwhile the city had grown
from population of 400, in 1852, to Il
population Of $4,000, i'll 1890, and has eX-
tended its corporate limits toward tho
Nest and South until they reach the
Roanoke river.
The far-sightcd have long recognized
that the future of Roanoke as an indus
trial center lies i'll the fine bottom lands
along this river 1t IS upon this theory
that the Roanoke Development Com
pany has been formed The furnace of
the Roanoke Iron Company and the roll
Jig mill to be built Immediately by that
company, the latter employing some 400
or 800 hands, both o. which are located
near the river and directly opposite the
land of the Roanoke Development Com
pany. are but the precursors ofhundreds
of other industries that will be estab-
llShed along the river bottoms. large
part of which is owned by the Roanoke
Development Company. The river will
inevitably become the center OF the
town. and this result Will solve the inn
portant question OF sewerage.
Roanoke has increased in population
from 400 to 2.,C0o in the last eight
years, and Is now growing more rapidly
than ever. 1t is confidently cxpcctod
that within the next five years the
population will reach at least 40. 600 or
$4,000. large part of this new popu-
lation must fix their homes near the in
dustries whore they find employmcnt.
and glance at the map will show that.
as these industries must be located on
the river bottoms, the lands of the Ro-
anOke Development Company will he
those chiefly benefited The company
proposes to lay Off main business
street along the bottom lands, whore
one of the lines of electric street rail
way is shown on the map, for there will
be inevitably large demand for bust
ness lots in this new quarter of the town.
Hitherto, Roanoke had to rely chiefly
upon the enterprise and energy of indi-
&idual citizens to secure the establish
ment Of manufacturing plants, and
while many enterprises have thus been
secured. the want of an Orra niyod offort