Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1891-04-03
THE BOOM !
The Plans of the Improvement Com
pany made public.

provement Company has been issued,
and from it we obtain the plans and
intentions of the gentlemen who pro-
pose to boom this place.
As heretofore stated, this company
has been incorporated under the
laws OF the State of West Virginia,
The following are the officers: Presi-
dent, Geo. NJ. Beltzhoover; Vice
President, DIR. A. s. Reynolds; Secre-
tary and Treasurer, w. n. LemeD;
Directors. Joseph Leedom of Phila-
delphia, DIR. J. X. Rogers of Washing
ton, E. l. Lee, e. r. Hodges and H.
l.. Snyder.
The capital stock OF the company is
$500, 900, of which it is proposed TO is
sue now $3.50, 900 in shares of the par
value of 500 each, to be sold at par.
The proceeds are to be applied TO the
purchase of the lands controlled by
the company, and on which it has
/ options, TO the Improvement and de-
velopment of the property, and TO aid
| the establishment Of various manu-
featuring enterprises at Shepherds
town. The other S250,000 of stock
will be issued at such future time as
the stockholders may direct.
The company has options on about
a thousand acres of land beautifully
situated in an almost complete circle
around the town and adjoining it,
The prices will not exceed on an
average 500 per acre, a very low cost
in comparison with the prices paid by
similar companies at other places.
On the south of the town the com
pauy controls a large tract which
will be devoted 70 manufacturing and
business purpose. The property e1-
tends from the Kearneysville pike on
the west to the Charlestown pike on
the east. Through the centre of it
runs the Norfolk & Western Railroad
and fine, bold stream of water.
This tract, with its gentle slopes,
furnishes the ideal sites for manu-
featuring purposes.
Immediately north OF the town
large body of land will serve as res
idence portion. The splendidly To-
Gated property on either side OF the
Shepherd turnpike has been Sc
cured, including the handsome estate
of Mr.. VIM. r. Lemen and the pictur-
esque grove. Facing the river, with
the mountains in the distance, these
high bluffs furnish villa sites Of un
surpassed beauty and convenience.
The lovely combination of mountain
and river scenery has long been the
wonder of summer visitors from the
cities. The prospectus hints that the
company may soon find it to its in
terest to erect a handsome hotel on
this favored spot.
OF the above described land sew
eraI hundred acres will be promptly
plated and laid off into streets, av-
enues and lots. The business lots
will be % 100 feet and the residence
lots 40 125 feet in size.
The stock Of the company is now
offered for sale. On each share OF
stock payment of 10 per cent is due
at the time Of subscription. The sec
ond instament is due upon the cal
of the directors, and thereafter at
,erular periods once month, though
no more than 10 per cent shall be
called in any one month. For each
cash payment negotiable receipts,
transferable will be given, and when
the shares are paid in full, certificates
of stock. which are worcestershire,
will be issued The payments art to
be made TO the treasurer, who Is
bonded officer.
The holder of every two shares OF
stock will receive, in addition TO his
stock, a deed for residence lot 40
1875 feet and the holder of five shares
will receive two such residence lots
and a business lot 25 Y 100 feet. The
lots will be assigned by the fairest
possible method Of drawing, at
time to be appointed by the company,
and when the stock is paid up the
subscriber will receive his deed.
The probable sources OF profit to
the company are, the enhanced value
of its property by development; divi-
dends, rentals and returns from the
manufactures and industries aided;
and liberal margins from the proposed
sale Of lots by the company. Paid
up stock will be taken at par by the
company in payment for lots sold by
it, after the cash payment on said
lots has been made.
The success of nearly all the com
panies formed for the same purpose
during the past year or two In the
Valley OF Virginia is an indication
that the Shepherdstown Mining
Manufacturing and Improvement
Company will succeed. As Chauncey
NJ. Depew says, the South is the bo-
nanza of the future. These ventures
have not only been instrumental in
greatly increasing the prosperity OF
the towns and the sections where
they have been started, but they
have also proved remunerative to the
stockholders-ins some cases phenoin-
enally so. Few places in this Valley
have advantages superior to or in
deed equalled by those Of Shepherds
town. Literally it is the gateway of
the Shenandoah Valley. for it Is
charmingly situated on the high
bluffs of the Potomac river, the
northern boundary OF this great and
raoIthv and progressive section.