The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-11-27
THE GENITAL LAND COMPANY.
Clarence M. Clark on the Man
agement Of Its Affairs.
a Fargo Amount or Money Expended for
tao Development of the Tropcri.-Isc
thinks the Investment Will Finally
Provo Profitable and Regards Isuch
SEAMS Prospects as Encouraging.

There has been somc dissatisfaction
expressed by people Interested about
tho managcm,, OF the Central Land
Company OF Buchanan.
MIR. Clarence ". Clark one OF the most
active directors Of the company, has
been interviewed by II reporter OF TIE
TIMES, and i'll reply to an inquiry con
corning the conduct of affairs there, he
said
There was very important moot
ing of tho Board OF directors OF the Cen
trail City Land Company. o. buchanan.
held IT, Buchanan Oh Saturday last. Mr..
James ). Simmons md myself had boon
advised oe foirhand OF considerable dis
satisfaction on the part of the Roanoke
and Other stockholders as regards the
management of TIC cDmpany.
''Wc bovA Az nde, the meeting with
tho idea Of finding ont whether there
was aiy real cause for the dissatisfac-
ton which had been expressed very
freely on all sides.
The criticisms as expressed to us were
principally caused by the largo amount
OF money which the company appeared
to no spending in laying out the prop
crty. and the depreciation III the price
OF the stock.
'.'rhc directors considered very care
fully the expenditures which had al
ready hcon made by the officers, and the
plans for future outlay.
Tho antral City Land Company of
buchanan was organized last spring
with ii very large number of Stocllhold-
crS and larTn amount OF money avail
able for developing Il town in the best
possible way. lhelc is no better luca-
ton for an industrial city in the State
of Virginia.
sit seemed that tho only thing ncces-
sary was the capital to develop tho
place and make it attractive to indus
tries. 1t was proposed by the directors
TO lay out tho town on "a somewhat
more extensive and elaborate scale than
any yet laid out in Virginia.
''ro provide proper railroad facilities
to any manufacturing plant it was
necessary to build bridge across the
river so that both the Shenandoah Val
10y and Chcsap cakc and Ohio railroads
could obtain an entrance into any
manufacturing plant established.
"Thcre was NJ possible chance Of
having this bridge built unless it should
be done by the company. 1t cntailcd Il
worry considerable expense, but from the
nature of the case il had to be done. IL is
very probable that this bridge will pay
II handsome return as soon rs the town
develops.
''In addition to this IL great deal of
work has been done in grading and i'm
proving the town, which ut most places
is not done until after lots arc sold and
the town begins to build up. 1t is pos
sibly questionable whether this outlay
was justified at the present time. At
tho same time the worst that can be
said Of it is that it was simply antici-
pating what would he required in the
iuture. The stockholders had right
to complain Of This outlay for grading.
etc, but the parties who had purchased
lots had no right whatever.
tine new town of buchanan to-day has
been improved to an extent far greater
than any other town ever started in this
State, and the people who have pur-
chased lots have had more money spent
on their account and more improve
mcnts made than in any town | have
over known. The grading has been
done more thoroughly and more eff
ciently. The grades arc light and the
engineering work throughout ha, been
done in the most competent way. That
IL has been done cNtravagantly is true,
but the results will be seen in the flu
ture, if not in the prcscn. time
'Thc company has also provided for
the erection of Il very handsome hotel,
but. again, this of course will cost
money. 1t is possible that the town
might have gotten along with n less cx-
pensivc hotel. hut it is qucstiona bic
whether the company will not in the
long run benefit very materially by
having such a handsome place of re-
sort for people TO come to. Again. it
might BE- said that the lot owner is very
largely benefited by having such Il
hotel.
"Thc company has also provided for
very good water supply and system OF
water works. 1t Is quite possible that,
Tor the next few years, il viii not be
necessary TO have such large supply OF
water, but it Will be cheaper to look
ahead little, and provide now for a
supply that Will be required in the
couis Of ii few years. The system as
laid out will give frccstonc water and a
rery iull supply of it.
ION the whole, the conclusions ar
rived at by MIR. Simmons and myself
were, briefly. that the now town of
Buchanan. as laid out with its streets
yell graded. good drainage, an excel
lent water works system. an elegant
hotel and all the advantages which it
has TO offer to manufacturing establish
ments Will be. in the near future. one
OF the most successful new towns in
Virginia.
we recognize that great deal of
money has been spent which need not
nav been spent until next year For
Ems the board Of directors arc partly to
blam , and we are willing To stand our
share of the blame, feeling that the
work thai has been done las been VOL
done ami viii show its value in tic fu-
tur.