Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1890-04-30


From the prospectus Of the Company the
following compilation of Information is made
The authorized capital is two million dollars.
One million, two hundred thousand dollars OF
stock will now be issued. of which s29i,S0O.0O
has been disposed Of leaving 100000 co of stock
in the treasury, to be hereafter issued. if 1t
should be deemed wise to do SO.
The Company has acquired 2242 acres of
land, more or less, out of which 1t proposes to
reserve about 800 acres for industrial sites,
leaving 1912 acres for lots and streets, which
will produce more than 1900 lots, about ten
per cent. of which will be business lots.
1t is proposed tosell one lot and two shares
of stock for two hundred dollars upon the fol-
lowing terms and conditions: Ten per cent.
on day of purchase and ten per cent. monthly
thereafter until the entire amount is fully
paid, or at the option of the subscriber, the
stock can be paid in full. Receipts will be de-
liyered to subscribers monthly until stock is
all paid up, at which time a deed for the lot
will be made containing a clause with re-
strictions for the general good of all the
property. The six thousand lots sold under
this announcement will be of a fair average
value of the entire property, and will be Sc
lected after the lands are surveyed and plated
the business lots 10 be not less than twenty
five feet front and the residence lots not less
than forty feet 'front.' and will be drawn fol
and assigned to each purchaser by committee
of disinterested gentlemen. the date of said
drawing to be- hereafter fixed, of which due
notice Will be given all shareholders.
Subscribers aUiU beer in mind that ten pei
cent. Of The lots Altered for sale SOH be business
lots, end every subscriber has equal chance tt
dra,o-possibly all business lots; those aoho Sc
fortunate soiU get aaony times the value Of thei'
original Investment.
The Comp any Teserv yes the right to accept Oh
reject all subscriptions MADE after the one
million, two hundred thousand dollars have
been sold.
The proceeds of the sale of stock and lots
aforesaid will be devoted to the laying eff ant
development Of the Company's land, removing
lines therefrom, promoting and establishing
industrial enterprises, and in any other way
to improve the Company's property that may
be deemed wise by the management. and tt
pay dividends to its stockholders at sucf
times IS the management may consider Il
wise SO to do.
The lands acquired, aggregating 2.24O acres
more or less, are favCrably situated within thu
city limiis ard adjoining the corporation
lines. and it might be fairly said that abou
240 acres are situated within the city of Staun
ton. The great bulk of the property lies be
tween the Valley Railroad Or Baltimo4 ant
Ohio Railroad and the Chesapeake and OhIS
Railway, and is most admirably situated fol
railroad switches and side tracks to reacl
manufacturing enter p1ises. Several stream
OF good water run thI ough the lands, affordlns
abundant water supply for factories and dn'
drainage.
Impressed with the importance of the move
ment made by The Staunton Development
Company, we will follow this comment will
other information bearing upon 1t. and in thi
manner strengthen their hands by invitin;
the united community to its support In this
we ask the favorable consid Grafton of all thu
people of the surrou ndiug country. As soil
producers. Stanton has ever been TO them
| coed and solid friend, and in the prosperity O
| their central town-soOn TO be a city of doubl
/! its present siZe-th ey have objects worthy G
| their highest aims and their material supper
and constant patronage.