Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1890-02-19
BUENA VISTA.

One year ago the Buena Vista Company
was organized in Lexington, and imme-
diately thereafter assumed control OF the
p properties acquired. To-day the stock
holders assemble in annual meeting at the
new and growing town of one thousand in
habitants and future city under the most
gratifying circumstances. More than three
fourths of the stock was represented in the
meeting in which about three hundred
holders of the same we're present The
meeting was held in the new and spacious
public school building where very good &C
commodatlons were provided for the pur-
pose. Mr.. B. G. Moomaw called the as
semblage to order, and, upon his motion,
r. s. Brock, Esq, of Philadelphia, was
made President, and Mr.. John T. Stuart,
of Buena Vista, Secretary, who was assisted
by Mr.. James D. Anderson, the Secretary
and Treasurer of the Company. Messrs.
VIM. Patrick, of Staunton, A. P. Moore
and J. D. Anderson, of Rock bridge, A. W.
Butler, of Lynchburg, and Andrew Bow
ling, of Augusta, constituted the Commit
tee on Credentials, who reported very
1oroo ,,.;or;t, Of tho stoot renresented
''-s 81 -'o'
THE ANNUAL REPORT.
pres;den+ r. Rsrc,av ESQ read the
annual report Oh inc oosrd Vi D1cctoiS a0
follows
''The Board of Directors congratulate
the Stockholders OF the Buena Vista Com
pany on the occasion of their first annual
meeting, upon the assured success OF their
enterprise inaugurated twelve months
ago.
+ Although your expectations were san
gaine and the value OF your property
highly appreciated. we venture to say that
none have been disappointed, and the
brightest hopes OF all have been more than
fulfilled.
Every DEVELOPMENT made upon your
mineral properties has demonstrated IFS
wonderful wealth OF resources, and to-day
we are able to say that you nave the rlcnesS
and most valuable mineral property IN Vlr-
ginia. and for extent, not surpassed IN the
South.
The village with its population OF nifty
souls, has grown to rapidly developing
town of one thousand inhabitants.
The fertile and extended plains OF Hart
Bottom and Green Forest, devoted eight
months ago to agricultural pursuits, is now
the scene of busy activity, IN grading the
wide streets OF the town, In laying lines OF
pipes for its water supply, 10 the building
OF its handsome and stately business housess
and comfortable and attractive homes:
The waste lanes lying along the Nortn
River are sites for extensive and valuable
manufacturing enterprises, "a list OF which
you will find accompanying this report, }
aggregatlng nearly million OF COLLARS, al
ready secured. and many more which will
be undoubtedly established during the
coming year.
Your attractive and we'll kept hotel has
been found entirely inadequate for the &C.
commodation OF its guests, and an addition
is Low being made which Will ADD ABOUT
fifty rooms. Its unparalleled location, at
f riding charming views OF mountain, plain,
and river scenery, has made it most de-
s.rabe resort, and many families expect to
make it their summer nome.
The Valuations. which are submitted
herewith, are made by competent gentle
men not connected with the board OF VI.
rectors, selected oy the buena vista Real
Estate Exchange, and the prices given are
one-fourth less than those paid Tor lots
actually sold for cash IN the respective
sections.
The stock OF the Company (now PAID up,
and worcestershire by an act OF the leglsla-
ture,) has advanced to par. when 1t Is re-
membered that this stock was sold at sou
per share, with lot with every two shares
OF stock, and these lots are now selling, IN
some instances, as high as Sl,5OO each,
and none less than sou, you Can each
measure the dividend which you have al
ready received, by your investment at
Buena Vista.
Properly valued at not less than one MIL
lion OF dollars, has already been distributed
among the stockholders from ills source
alone.
The real value of the stock is hard to
estimate. For dividend-paying fund,
you have within your present town limits,
at low Valuations. five hundred and ninety
one thousand and six hundred and two dol
lars ($s91, 602) of unsold property; you
have your investments in the most prom
ising Industrial enterprises; you have I'M
told wealth of mine and forest; and four
miles Of upland and bottom stretching
along the Shenandoah Valley railroad, ad
mirably adapted for town and villa sites.
No one can venture to predict the ulti-
mate value of Buena Vista Stock, but of
this we can feel assured, it is worth par
and will be maintained at that with its
present large surplus.
The plans for the building OF the town
have been taken with care, and the erection
of over $3.50. 900 of buildings is assured
within the coming twelve months, outside
of what may be done by the lot-owners in
their individual capacity.
Whilst the revenues derived from the
property, might justify the payment of q
large dividend upon the stock of the Com
pany, your Board of Directors submit it to
wiser to forego a present advantage Tor a
mnch larger return in the use of these ealn-
ings IN tne future oeveiopment OF the
Saver., 1.roe industrial, ontar,r;ses em-
ploylng many sKllleu WorKmen Can now De
secured lot bnena VISTA, II we are enaDeo