Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1891-05-21

which had been purchased at los. sold for
exactly the same number of pounds.
1 Having abundance of faith in the future OF
the colony, this transaction induced in
him the reflection, that while the city was
! bound to grow, land within convenient
! distance of It must become valuable for
building purposes. His first specuations
| proved so satisfactory that he ives cncour-
| aged to proceed on a gradually enlarging
scale, and since that time he has purchas-
ed increasingly large tracts of land at
various suburbs. During the period OF
severe CONNER cial depression which eX-
listed some six or seven years ago, Mr..
James invested largely, and to such adj
vantage that or these purchases he relais-
ed enormous profits. On other Specula-
tons he has merely received the more
moderate returns that an investor may
reasonably look for. The lots he has
bought have ranged in an area from 10 to
1000 acres, and many of them are now
closely populated. Mr.. James has adopt
ed the sensible view that the class of Gus
toners upon whom he must mainly de-
pend are men of very limited means, and
imorous of mourning responsibilities
which might prove serious. 1t is necessary
that they should have confidence in him.
He takes a pardonable pride i'm saving
that in all his dealings he has never yet
had to cancel single contract by reason
OF non-payment of instslments. The
buyers are satisfied with their invest
ments; the allotments are sold absolutely
without reserve; there is no dummy bid
ding, nor dummy sales. And the bona
fides of the purchases is attested i'm a re-
markable degree by the constancy with
which they adhere to their bargains, and
make their periodical payments. II
find" says our model land speculator,
THAT the purchaser of an allotment. If
tr ha ,nf rsf 49,
one, and it is very rarely that the pay
ments are not promptly made.
Almost everywhere around Melbourne
Mr.. James has at one time or another
brought large properties down to small
building allotments. Amongst his recent
sales was the Sandringham Estate, over
30 acres, which was sub divided and sold
some three weeks ago, realizing nearly
els. 1000: and he has sold g4,000 or e5 900
worth of land in Brighton. Many per-
sons who bought at the early sales have
realised from 80 to 100 per cent. on their
bargains. Mr.. James has operated very
largely in the beautiful Alphington dis
trict within the past three years. Pur-
chasing first one property and then an
other, he got the whole tract of country
returning from the River Iarra north to
Preston. a distance of 3 miles. A consid-
cradle portion of this property, has al
ready been subdivided and sold, streets
have been formed and planned. some first
class residences built and other improve
ments made. Altogether no fewer than
100 allorments have been disposed of In
this locality to over 1900 different pur-
chasers--a community in themselves! A
new city IS being founded, and when
once the connection has been made be-
tween the Alphington line and the metro
polls it is not unreasonable to expect that
it will make very rapid progress.
The land speculator in this case seen
likely to secure double distinction-as
the founder of a new city and as the first
to lay down a passenger tramway In the
colony. The interests of the purchasers
of moderate allotments and of the levia-
than operate, are identical of course; for
Mr.. James has still about 500 acres. COM
prising the extensions of Fairfield Park,
yet undisposed of. This area divided in
to quarter acre allotments will provide
for 5000 additional families. For the
convenience of persons establishing homes
in this ncighborhood he is constructing
tramway which will run from the Fair
field Park station, to be erected on the
Alphington line. and thence along Station
street to the end of his property-a dis
tance, as has been said, of over three
miles. The line is to be worked by horse
power, and equipped with neat car, the
same as those employed IN Adeiine. and
capable of accommodating inside and out
side about sixty passengers.
Along the coast between Brighton and
Mordialloc this same gentleman owns
large tract of land, through which miles
cf streets have been formed and planted
with oaks and elms. 1t is not unlikely,
whel all things are ready for Offering
this property III allotments that other
"onveniences similar to those at Fairfield
Park. such as the tramway. will be pro-
vided here, and if Melbourne should con-
tinue to prosper as it has done OF recent
years, the now vacant coast line will be
the site of another new suburb.