Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-06-23
CAPITAL AND FINANCIAL PLAN.

CAPITAL AND FINANCIAL PLAN.
The authorized capital of the company
is $500. 900, divided in shares Of 800 each,
but for the present only S25O.OOO OF stock
will be issued. All the proceeds of the
stock except what is needed TO pay off the
Indebtedness on the land will inure TO the
benefit of the corporation and its stock.
holders in common. The terms of sale OK
stock are as follows:
Ten per cent, at time of purchase, 10
per cent. on call of the company, and 10
per cent. monthly thereafter until paid
up, or at the option of the subscriber the
stock can be paid up in full at any time.
The holder of three shares of stock thus
purchased from the company shall, in ad-
dition to his stock, be entitled TO one lot
on the company's property, which II 1t be
q business lot shall be not less than twen-
ty-fye feet front, and If O residence lot
not less than forty feet front, and whether
the one or the other the depth shall be IN
fair proportion TO its width and so on
for every Additional three shares of stock.
No one who will give even the most
casual study to the situation at Low Moor
can fail to be convinced that there is not
a lot on the company's place that IS not
worth more than the price OF three shares
of the stock.
CONSERVATIVE MANAGEMENT AND TALK.
One thing that struck me most forcibly
in talking with the general manager of the
company was his entire conservatism and
the care he took not TO claim every
thing" Indeed, l was at Clifton Forge
recently while the directors of the CON-
pany were holding o meeting and from no
one of them did l hear q statement as
regards the promise of Low Moor which
a personal inspection Of the place will not
justify. The logic Of the situation at Low
Moor is that 1T must grow, and the work
of the Allegheny Mining and Development
Company will stimulate that growth along
systematic lines and to the end that values
will be enhanced more rapidly than they
would be otherwise.
1t Is accepted as a certainty OF the near
future that the whole stretch of country
from Clifton Forge % Coyington will be-
come one continuous settlement and line
of industries, and nowhere in the region
are there more inducements to build
either residences or manufacturing
The furnace and the houses of
the furnace company's employees and
managers already constitute magnet
that will attract other manufactures and
additional population. An investment In
Low Moor lots means sure and substan-
tial return. Aside from the mechanics of
the place there are .some five thousand
miners employed Immediately around Low
Moor. West Clifton Forge with its extern
s1ve railroad shops and round houses almost
touches the Allegheny Mining and De-
velopment Company's property, and at
Covington another large furnace is build
ing.
HEALTHY CONDITION.
The finances of the Allegheny Mining
and Development Company are IN q
healthy condition and the improvements
to be put on the property are OF substan-
tial character. A picturesque hotel with
all the modern appointments will be erect
ed, and among the industries secured are
an lron-foundry, a shovei-factory. glass
works and others. Building material is
cheap and abundant.
The Typographical features of the reach
between Clifton Forge and Coyington and
its relations to the system OF the Chesa-
peake and Ohio railway are such that even
II that corporation was not disposed TO aid
in building up the section as a matter of
general policy, and this 1t Is disposed to do,
it would be compelled to put vast deal OF
money here. Nowhere on its line is there
a location more thoroughly adopted for
division headquarters than Clifton Forge.
and nowhere can much more convenient
ward room be found. The coal and iron
traffic of the road alone will in the course
of very short time compel duplication
of its tracks at Clifton Forge, and this
means proportionate increase of popula-
ton.
The Allegheny Mining and Development
Company will set apart its mineral lands
and timber lands for the benefit of the
corporation; also the lake. and all of
the springs of the property, besides such
other portions of the tract as will proba-
bly, be needed for manufacturing sites,
right of way to mineral and timber hold
ings, hotels. places Of amusement, schools,
churches. squares, parks, and pleasure
grounds, &c. A conservative calculation
by an expert is that the ore deposit Of the
company contains millions of tons Of ore,
and that q royalty on this alone would paw
the sto skholders handsomely even IL no
Improvements were put upon tho pro-
perty.
The management Of the company are in
dulging in no visionary schemes and are
determined not to oyer-reaeh themselves
in any particular. They are not BOOM
ersn IN any sense of the word. They have
not in any OF their improvements under
taken anything they cannot carry out and
they do not encourage any one else to
do so.
The table-lands on the company's pro
perry Is 0 series OF sites for handsome sum-
mer residences, and there Is no place ia
virginia possessing more elements for a
summer resort. II has quick railroad con-
ACTIONS with GIL parts OF tho country. Ana