Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1891-04-10
DEVELOPMENT Notes.

Mr.. Jos. B. Woodward, General Mama
ger OF the Virginia Land and Loan Co., OF
Stanton, has returned from Richmond,
where lie went to look after q block OF
twelve brick residences his company has
erected there. The houses were well built
and the company has already sold a large
portion of them at a handsome profit on
much rather invest it's money in Staunton
where the workmen might get the advan-
tage of the wages paid out,a and have con-
scientiously tried to do so, but the extreme
prices put on their property by real estate
holders here put it out of the companys
power. The company has secured some
property on Sears Hill and is putting up
some pretty residences there.
AT the annual meeting of stockholders OF
the Iron Gate Land and Improvement Co.,
Hon. Jacob Yost, President, and the old
members of the Board of Directors were
reelected. Mr.. Y ost declined reelection to
the position of General Manager. The an
nual report of the President made most
excellent exhibit. showing that the net
available cash assets, independent Of stock
in other companies, personal property, the
hotel, it's furniture and other improvements
and the real estate) was equal to $3.50 fol
every share of capital stock outstanding
| If the above items were included, the assets
equal five times the liabilities. With the
exception Of s., 900 the company has no lia
bility beyond it's capital stock.
The ''Oremont Iron and Coal Company
has been organized with Chas. D. FenhagaI
of Baltimore, President; David B. Taylor
of Baltimore, Vice President and Genera
| Manager, and Guy Cochran OF StauntOn
Secretary and Treasurer. The company
have purchased for $52, 1000 the Payne farm
near CovingtOn, at the mouth OF Potts
Greek, of 1 ,246 acres, the owners-Mrs. S
A. Payne, Mrs. Gen. VIM. Skeen, Mrs. G
| G.. Gooch and Miss Virginia Payne, re
serving acres with the homestead. They
have also purchased about $4,000 acres OF
coal and iron land. The Payne lands are
to be laid off as town.
Mai. Geo. Chrisman Of Rockingham, has
been elected President of the Pendleton, w
Va, Development CO. One of the possibil
| tiles in store for this company is reported tt
be. that work will soon be commenced on ;
| line of railroad from Cumberland, Nd.
which will pass through its property. Maj
Chrisman is conducting some negotiations
with parties in New Y DIRK for his company
and the result is that there is much rea
estate excitement in Pendleton county an(
particularly around Franklin.
A party of Virginians arrived at The
Eutaw House, Baltimore, Friday after
noon, and at night had a conference will
Baltimore capitalists in regard to Yves
Virginia coal interests. In the Virgini;
party were Judge s. B. Witt, of Richmond
J. Frederick Etlinger, r. 2. Bell, Gu
j. c. Child, assistant engineer Of Th
Grottoes Co. at Shendun, has resigned t.
accept the position Of assistant Enginee
of the Stanley Furnace and Land Co. il
Page county.
The machinery for the Standard Bricl
works has arrived and Will De placed Ill pc
sition as soon as the buildings are completed
The work of construction will commenc
next week.
Capt. Geo. G. Dickinson of Albemarle
has been appointed Chief Engineer of TIL
projected Broadway & West Virginia rail
road.
I The new Bank of Salem opened for busi
ness April 1st. Its President is T. J
Shickel, and among the Directors are A. M
Bowman and j. w. f. Allemong.
The lumber for constructing the Staun
ton Mantel Company works has been OIL
dered, and the contract for laying the foun
dation awarded to MI. A. M. Waltz.
Mrs. Ann Payne's farm neal CovingtoI
known as edge HILL was sold last wee
to syndicate fol- $50 900.