Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-05-07
PROSPECTUS OF THE ROANOKE
| WATER POWER AND LAND
COMPANY.

I DROSPE'NTUS OF THE ROANOkE
| WATER POWER AND LAND
COMPANY.
The Roanoke Water Power and
Land Co. owns 200 acres of land. ly
ing on the Roanoke river, adjoining
the corporation limits, and about one
mile from the City Hall. The BeltL inc
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
canal whereby water power may be
furnished at a low cost to manufacture
ing enterprises. 1t is proposed to
build this canal ut once, and to estab-
lish, 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's
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 to
Roanoke city.
Ii is believed that this enterprise,
combining the facilities afforded by
the railroad and the river, in conjunc-
tion with thegreat natural advantages
of the site. means the establishment
of a new industrial centre in Roanoke
that will prove most attractive TO the
outside world, and largely and rapidly
advance the coming of what is now a
certainty-that Roanoke is to be, at
no remote day, the principal indus
trial city OF Virginia, if not OF the
South.
The completion of the Roanokesard
Southern railroad, now an assured
fact, connects the Southern Atlantic
Seaboard by 4 bee line with this To-
cality, and opens direct communica-
ton 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
they propose TO associate with Them
is absolutely secured and remunerated
The Capital Stock OF the Com
pany will be. ...... 500, 900
OF whichthere will be Prefer
red Stock. ............ $500. Sl5O,O00
And common Stock. S2O0, 900
Of this 100000 of common stock and
been issued for the property fully
paid for, leaving Il 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 at any time at
its cash value in payment Tor ousl-
ness and residence lots TO be laid out
and placed upon the market. If, at
any time within two years, the holder
wishes to exchange secured and pre-
ferrad stock for a speculative one, he
can, by giving up his preferred stock
for cancellation, receive in return
an amount of common stock
equal 10 the preferred stock reiln-
ouished. In making any sales OF
lands. the charter requires that Il pro-
of the proceeds thereon
Shall be set aside, so that every dollar
of outstanding preferred stock shall
be properly covered by TINS SINKING
fund before any dividends eau pe ue-
clared on the common stock. IN con
sideration of the absolute security
given to the preferred stock hoioer'
the company reserves the right, aiter
TWO wears, to retire any outstanding
preferred stock at par ana accrueu
unpaid dividends.
Ii is believed that a 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
ment. They do not seek spasmodic
%; om,n but steady and valuable
growth. The property they control
IS admirably located and naturally
favorable. Business enterprises will
be confined to the broad. elevated and
sandy plateau lying between the rail-
road and the river. Residence lots
will be located on the rounded, wooded
andbeautiful foothillst to the westward
and southwark. The drainage of the
whole can be made perfect at "a 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
for the purchase of home, the par
of the stock. both preferred ana com
mon, is placed at S20-twenty-hve S2o)
per cent. to be paid upon call after
the allotment of the stock, and the
balance in monthly calls Of ten (l0)
per cent.
In no event can the capital stock
exceed $3.50, coo, but may, and prooa-
ably will be, largely reduced by can
collation. of the preferred stock used
in payment of lots purchased and re-
The preferred stock can only be
n,aced at par-the proceeds to be used
in making the place attractive and for
- e establishment of industries. In
u .hH of recent sales Of adjacent prop
s srtM it will be seen that the pre-
f ferred stock to be issued is far below Glow
the present value Of the :. mere land
without any improvements. ;,,
Only 100000 in preferred stock %aat viii Il
be offered for sale. This viii meet re,,t; al
deferred payments on the he land, giyln a.
if in fee, and place so9,ouo IN nan Gas 10 10
~ the ,'-easury as working eapledi' ~; ~
IL! tiae - I, used, if actually needed IN
be only ne to the property.
ad Gl val, subscribe will remain
The right u st, 1890, and the stock