Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-04-09
LAND SOLD AT BIG PROFITS.
Major DOoiey's Report to the West-End
Company's Stockholders.

The annual meeting Of the stockholders
of the West-End Land and Improvement
Company was held yesterday ut noon at
the office of the President, No. 1903 east
Main street. Mr.. II. l.. Staples presided.
Major James II. Dooley, the president OF
the company, presented his report, IN
which he says:
The year lSqOr01 has been a period Of great
prosperity in your affairs, and It's results have
been very satisfactory We nave sold during
the twelve months from April 1, 1890, 10 April
/, 1891, 3,S77 front feet Of lots for the aggre-
gate price OF $50, ,557.37, for all Of which we
have received cash and bills receivable, the lat
ter Of which are considered 20 be- amply secured
and most of them good even II not secured by
real estate
Our sales have been not only satisfactory In
amount, but the profits thereon ought 70 gratiiy
the most sanguine Of our stockholders. In detail
they arc ns follows:
i,774 front feet in Auburn, s2O,s7 profit
S7.2l per cent.
473 front feet in Martins property s5,s6o.S7; !;
profit 67.90 per cent.
so front feet in Bulls property s3,5OO; profit
30 mont feet in Bells property, s3,lo5; profit
LII per cent
SOD front feet in Bowo's property, s6,s6O; pro
ft SLAB per cent.
1,i6O front feet in Bowes property, $1,000;
loss 1870 per cent.
WORTH MORE THAN DOUBLE.
After giving in detail the transactions of
the company for the year and making q
tabulated statement of the assets of the
corporation, showing them 10 aggregate
sos, ,75S. 70, the President continues:
II will be interesting to know that the cost Of
the real estate nov on hand stands the company
s271 10S.l0, whilo its schedule value Is s5ll,-
493.6S.
II you deduct from its cost the sum Of s54-,
265.09, which you have I'm hand In cash, bills,
&C., IL viii stand you S2l0,643.Ol, against a
schedule value Of s51l, l,S43.Ol.
Your expenses and taxes during tho year
have amounted 10 s1,492.5S. This would be
much more than offset by your Interest account:
The city OF Richmond has never shown 80
many evidences ~ growth and development ~
during the past twelve months. From 1880 10
1890 It's population Increased 27 per cent. and
real estate IA the West End went mp during tho
same period from 300 10 600 per cent. within the
limits OF Clay Ward. Loe district now occupies
10 the city's growth very much tho same relation
which In 1880 was occupied by tho western part
OF Clay Ward.
II IL not unreasonable TO expect that during
the decade ending in 1900 tho city Of Richmond
will Increase good deal moro than q per cent,
and that the property Of this company, upon a
very moderate calculation, will show an Increase
OF from 300 to 800 per cent.
The increase Of values In real estate depends
not only upon the growth Of population, but just
az much upon the growth OF wealth and bust
ness No ludlclous observer can fail to note that
the growth Of wealth and business In this city
during the last Ave years has been much greater
In proportion than the increase of population.
ELECTION OF OFFICERS.
The following officers were elected: James II.
Dooloy, president; Directors-J. VI. Dooey, Jo-
seph Bryan, Il. D. Christian, NJ Milhiser, John
b. Purcell, Thomas rutherford, and j. j. Mon
tague.
The other officers are TO be elected by the d.
rectOrs.
The Board OF Directors were authorized, IN
their discretion, 10 accept the stock OF the com-
pany In payment for lots hereafter sold at such
rate as they may think best.
The President was directed 10 advertise for the
purchase OF 500 shares Of tho company, the
bids TO be made under seal and opened In the
,,ragapaa Of tho hoard