The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-09-23

gives ~ tue exclusive right TO dispose OF all
franchises OF every name and nature, in
Guiding the right TO lay gas sewer OF water
pipes, to build or prohibit the building of
street car lines. to erect telegraph or tele-
phone wlres-1a fact, to use the streets lust
as their selhshness may di .tata
| "Adver tlsements were published in every
part Oh the country except the east, and tons
OF newspapers, dodgers, pamphlets and
general literature descriptive of Arkansas
Hsrbor and its glorious future were scat
tered broadcast. H0me-seekers and capi-
tallsis were befought to settle in this
modern Ell Dorado, and several CLERKS were
| constantly kept busy mailing maps and
plats OF the future great oil over the land.
| The advocates and friends of deep water on
tue Texas coast were appealed to.
Their nicely illuminated maps showed
ships sailing into the roadway that does
not exist; houses on the mainland that were
never built, and in the distance portrayed
the diagonal boulevards, Harrison and
Cleveland, converging i'll Lone Star Park.
THREE MILLIONS ADDED.
The stu alton has not altered in the least,
and did not require any greater stretch Of
truth than had been needed for the first
sale; but new pamphlet stated
Work already commenced on gigantic
scale under authority Ct the United States
government in accordance with the bill
passed by congress-
There has not been up to sthis day one
scraper of sand removed from the bar, and
not one stone of the jetty placed upon the
ground.
This pamphlet follows with the state
ment upon the plat, viz:
"'The enterprise is backed by three DOW
erful corporations with an organized capital
OF niue million dollars l$9, 900, 600, and this
In the face of the fact that there were never
three corporations organized.
A QUEER SALE.
"The January sale took place according
to programme, aud again large number
of people, having faith still in the integ-
rlty of the officers OF the company, especially
Gov. Wheeler, were induced t. buy, to their
great loss and present discontinue. The
sales aggregated about $780, 000 but there
were no Investments by Capitalists, no at
tempts to engage in manufacturing or other
live enterprises, no influx of money except
from people of moderate or small means
VINO bought to make homes for themselves
and their families
Among the active bidders was On old gem
tleman. Joseph Smith, Jr., of Cincinnati
o. He manifested so muca confidence in
the future OF the city and in the integrity
OF the company that he bought over $4,000
worth of town lots. He boosted every lot
who purchased a stake in the coming me
tropolis pay the highest figures for it. He
has never been here since. and the lots he
pretended to have purchased were resold.
That was the card Joseph played in the
game.
PROMISES HAVE BEEN BROKEN.
"At that sale the then lieutenant COVE
OF Texas and first vice president of the COM
pany, Wheeler, made speech in which he
painted great scheme for the future. That
speech, dissected to-day, shows how the In
vestors have been deluded, as follows:
''l. The great commercial CITY has not been
built
'2. The best men in the country failed to
SO. The Sc ,O0o, 900 of paid up capital was
bogus.
%. The railroads had nothing whatever to
do with the scheme.
"5. There was no written contract, as rep
resented.
SO. There was not and is not any terminal
railway company,
~. The town company did not control Gnd
does not control Harbor Island
IS. The year has about passed. but as yet
Mr.. Lott aud his associates have not even
commenced work on the jetties.
"9. The men ana the money to carry out
the scheme have failed to come to the
front.
SIGNIFICANT ROUNDUP.
"A short time ago the few remaining real
estate agents here held a conference with
the management at which Vice President
Wheeler and Manager Wilson attended.
Some awkward questions were asked. and
both Wheeler aud Wilson, in reply, admit
ted substantially the following.
That they were in the dark as to when
work on the pass would commence
They had no contract with the Arkansas
Pass Harbor Company or Mr.. Lott which
could be enforced.
1.-The money of the Arkansas Harbor CITY
and Improvement Company had been used
in the construction Of the alleged terminal
railroad, but how much or to whom paid
they did not know.
The Arkansas Harbor Company has never
been incorporated.
"There was no Terminal Railway Com
pany and matters in general were disor-
ganlzed and unsettled"
The query now is what has become of
the money paid by the posr lotholdersp