The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-06-11
STANTON NOTES.

DeVolOpmeIlb COMPANY ca S'S
ton at the result of the lot sales on the
I'd and Sd inst, and the lot drawing on
the 4th. The sale amounted TO over
500. 900, averaging about S4o0 iot.-
The terms of the sale were different from
most OF the offerings OF similar property
in this part of Virginia, in that tue
stock taken for the last third OF Ine
purchase price had only the purchasing
mower of its face value. There was
this, however, to compensate for that,
the promoters pooled their stock, ana
not IL dollar OF that stock was available
for payment None OF it was on the
market. All the sales were legitimate
deals between the purchasers ana the
Company and every one was on an
enuaIity. To have sold over Tl0O,0oo
one third cash III hand, one thlrd
cast, il: six months. and the last insfall~
ment payable in stock. as above stated
at the option OF the purchaser. may Wen
be regarded as Il good sale. Especially
so. when the condition OF the money
/ market is considered, and the amount
of stock already floating through The
country. The bidding was conservative,
the purchasers solvent and reliable, and
the feeling Of confidence peryadlns IN
usually strong.
When the situation is weighed and
the facts related to it brought out. the
confidence manifested in the ultimate
success of the DEVELOPMENT Conpanys
plans is not strange. Staunfon has
between 5000 and 1900 peopie-the
latter number, II t;ic suburban settle
ments. which belong to the city ~ every
thing except that they are not within
the eorrayele limits. are Included; the
accumulated wealth; the eAeeit III bank
ing facilities, having two healthy mas
! tj.,ial banks. one savings bank, three or
fonr building and loan associations. and
several insurance and land organiza-
tions: the private and public schools
unsurpassed in the country; churches;
street railway. gap epa electric lights
paid fire departments TWO trunk rail-
road lines, connecting with all parts OF
the country. east, west, north and south,
and almost every other advantage faiaf-
ing to business enterprise and local adj
vantage.
These substantial attractions created
by The slow and natural increase of the
population Of the town and the improve
ment and development of the agricnl-
tural interests of the country, are to to
supplemented by number OF large and
substantial industries, which will EN-
ploy from 1000 TO 1900 workmen, many
OF them skilled artizans, that will rep
resent 81 additional population OF from
1000 to ,Ooe Tisse manufactures will
4 be Ia operation before the year is out
some of them within Il few months. and
this increased population become a
part of the city within the next twelve
months. Other branches Of busi::ess
will follow and other classes of p0in-
lation be added. and other wealth afe~
ating enterprises inaugurated, SO that
it is not extravagant to say that within
the next twelve months from 1000 to
5000 additional souls will comprise the
population Of Stanton proper and its
suburban settlements. This means q
large amount of building within that
time, both for residence and business
purposes. Already the street cars are
being extended west of the present limit
in that direction; similar extensions will
be made in other directions as contem-
plated improvements progress East of
the city. where the principal new indus
tries are located, and where the Devel-
opment Company has most of its prop
erty, improvement will go On rapidly.
Steps are maturing for splendid hotel,
the Altemonte, on a commanding ,sleva-
ton. On the western suburbs overlooking
the Valley in every direction 1t win
be a picturesque and unique improve
ment-complete in all of its appoint
inents, and resort for summer and
winter that will be awaited of TO the
extent of the capacity OF its accommo>
dations.
These improvements promise large
increase in the diversity and volume of
! business. With corps of business men
equal to any in the country and others
who will be drawn there by the enter
prises started and to be started we can
see nothing in reason to question the
accuracy of the opinion we have ex-
pressed, that Staunton will have pop
uation of 10000 in five years.
1t is but fair to say that to NJ. Frs
/ kline Miller-his indolnitable will, his
tireless energy and remarkable business
+ capacites-is due thepresent suspicious
surroundings of recent creation and
/ cheering promise for the future.
4 We referred last week editorialy to
the DAVIS road now being constructed
! Southwark through West Virginia, and
the expressed purpose of Mr.. Davis to
take the main line to Covington. Since
then, Mr.. E. G. Vincent who has been
directed by the Stanton Chamber of
Commerce to make, in connection with
an engineer in the employ of Mr.. Davis.
preliminary survey of route from
| Stanton, through North River Gap, to
an intersection with the main stem of
the Davis road, reports that he has en-
countered no ingnrerabe obstacles thus
far. He wrote from the summit of
Shenandoah mountain and to that point,
the grade in no instance will exceed 80
feet to the mile, and that in his opinion
the grading for many miles could be
done for 49, 600 per mile
1t is important for the future OF Staun-
ton that this connection should be
made. A vast traffic reaches Staunton
now from that direction It's diversion
to other outlets would be very injurious
to the trade of the town. By it coal
! could be gotten sixty miles shorter haul
than at present. and would not cost over
one half of what it does now The exs
tensiye timber and coal districts of
I West Virginia would be accessible by
a rail connection with the Davis system.
and encouragement given for additional
industries to those already secured. A
wealthy and intelligent gentleman from
Ohio, largely engaged in manufacturing