Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-10-19
fCommunieatsd.l
Its Allotment and Opening sales-A Bright
Future Predicted.
SHENDUN.


SEEypUS. VA, October II, 1890.
NV first letter to you from Shendun,
the coming city of the Shenandoah Val
lev. will not be my last, for the events
of the past three days have placed the
new town now springing up in this beau
tiful valley around old Meyers Cave IN
line with the new booming Virginia
cities. and we will as the months roll
round make for the Dispatch readers
many interesting items OF news, while
making for Shendun investors many good
round dollars. -.
During these three days OF the allot-
ment and sale there have been not less
than two thousand visitors to Shendun,
visitors who meant business and trans
acted it, and busy scene 1t has been.
Three thousand lots were distributed by
the drawing to the stockholders, and two
hundred more, the number offered by
the company, sold at public auction TO
the highest bidder. The sum realized
was sl2S, 900, making an average per lot
of 500. =,
The result is very satisfactory to the
management as well as to the stock
holders Az one lot went free to every
holder OF five shares, which cost only
$3.50, the stockholders have moro than
doubled their investment in the value OF
the lots they drew. Many of them have
realized 200 and some 300 per cent.
already from the lots they have soda
handsome dividend, / would suggest.
Judge Joseph l.. Christian, OF your city,
il ons of the luckiest. He invested
81, $50 in twenty five shares, only 500
of which he has been called on yet to pay.
His lots are worth to day over S3,OOO,
and he owns besides his twenty-five
shares OF stock and his villa site. The
stock will not long be reaching the par
value of 800 and he has besides his
villa site, which ought to bring 81, coo.
[ give his case as an illustration, as the
gentleman is 80 we'll known to you.
There were something over 5000
lots laid off in the city plan, OF
which 5000 were distributed among
the stockholders and 200 sold.
Valuing the remaining lots at the
prices OF those sold, but they will GER
tainly bring a great deal more, there
would be enough derived from the sale
of the other lots alone to pay for the
property and leave s1,0O0,0O0 for i'm
proving il. Besides, it must be remem-
| bered that the stock sold brought $780,
600 and the lots 1923. 900, amounting to
1878, 900 worth OF property already dis
| posed OF. This sum, 1t will be remem'
bered, represents but small part OF the
holdings OF the improvement Company,
as there are /, 900 acres more OF beauti.
fully located town site property, 1000
acres OF fiue timber and farm lands, and
| 20, 900 acres of valuable mineral lands.
With these figures, which are facts, be-
fore your readers they can realize what
g good thing the stockholders have. and
what fine field Shendun offers for In
vestors.
| The management has received three
large plants for house-buildingan and brick.
making. which are already in operation,
and will proceed at once to close con
tracts with industrial concerns in the
North and West, q dozen Of which they
are negotiating with, and several very
desirable ones will shortly be located
along the belt line now arranged for,
which will skirt the river-baIk from the
railroad. Building is going on rapidly
at Shendun, both residences and bust.
ness houses, and there is already busy
avenue extending 800 or 400 yards north
ward from the hotel along the Norfolk
and Western railroad, lately the Shenan.
doah Valley.
The weather is beautiful, the air pure
and bracing, and the magnificent plain,
q mile wide and three miles long, upon
which the city is building spreads on,
like grand panorama before me as | 81,
here at my window taking in view OF
mountain, river, valley, and busy life
that is unequalled anywhere. | only
wish that you. shut up by the brick-wall.
of your city home. could stand in the
observatory, which now rises seventy
feet high from the summit OF Cave Hill,
800 feet above the valley, overlapping
the tallest trees, and with the admirine
sight-seers there take in all this grand
view that stretches out for more than
sixty miles each way. Vox.