Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1891-05-26
What I'D Grasty says.


the 5fdnutacturers Record Of the lot
sale here, says:
Professional boomers and specula-
tors generally were conspicuous for
their absence. Nine out of ten of
those who bought, bought to build
houses to accommodate the employees
of the many new Industries recently
established at Charlestown, and such
storehouses and shops as will be
brought into requisition by the imme-
diate doubling of the old towns pop
uIation.
I confess the outcome of this in
augural sale in the Yirginias had been
to me source of considerable anx-
iety, for I knew that the local people
of the Shenandoah valley were beay-
lily ''loaded" with real estate, and
were needing their surplus funds to
meet deferred payments and finish
the new houses which are going up by
hundreds from Harper's Ferry to
Roanoke. But had only remember
ed that there are to-day as many, if
not more, new industries in operation
and contracted for at Charlestown
than at any town between Hagerstown
and Buena Vista, should never
have felt much soIicitude, hard times
or no hard times, for the result of the
sale.
The average prices for lots at this
sale ranged from $3.50 for residence
lots to twice that for business lots,
which in this case means certain
guaranty that the land company will
prove paying venture. 1t is GER
tain that the unsold lots will bring
twice the figures named, and if half
that money be put into additional fac
tories it will eyentuate in quadrupling
the towns present population, the
effect of which will be to quadruple
the money yesterday and to-day here
invested.
There was wonderful attendance
at this sale, not so much in numbers
as in the quality of the buyers. Still,
there was bigger crowd than at any
sale heretofore had in the Virginia
Valley except at Woodland Park sale
at Roanoke last fall. The day be-
fore the sale the lot drawing took
place, and though there is generally
multitudinous kicking over the re-
suit of lot drawings, in this instance
the plan was laid out so fairly that it
was almost impossible for one stock
holder to have any advantage over
another. Consequently all were sat-
isfied.
At the stockholders meeting ma
jority were presentin propri0 persona.
The work done by the management
was critically scrutinized. Governor
Fleming, the present chief magistrate
of the State, was present, and he took
occasion to remark to me that he
never knew more faithful and CON
scientious regard paid to pledges by
any management nor so many bona
,1ide industries secured at so small an
outlay. He thinks CharIestown among
the most solid cities of the State.
There will be no congestive chills
following this CharIestown sale.
A surprising feature of this sale
Gin hard times lies in the fact that
not only were all the lots on the list
sold-every one of them to a bona
fde buyer-but when all on the list
had been taken the crowd demanded
more, and the last lots sold compara-
lively higher than the first.
l might tell of several new indus
tries contracted for since my last let
ter from this revived city, but one
thing at a time is all can do.
To sum up: This sale was a good
one, whether considered from the I'm
provement Co. 3 standpoint, the buy
er's standpoint or the standpoint of
the Valley of the Shenandoah.
Colonel r. p. Chew, the president,
although he was colonel of artillery
in the war, is still young man, and
all his associates in the management
of this company and of the indus
tries secured are live, active, young
and enterprising.
One final word. The crying need
here is houses for the people to live
in. Come and build houses and make
a bigger per cent. than in any posi-
BILE investment in any of the old NOR
ibund towns of the North
testimonial to Senator FauIk.