The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1892-04-22

tbe nurcha ser Of tenth interest in this prop,
ertv has made his last payment, which, as
Fire Brick Co., OF keystone junction, pa.' =.
) fair illustration Of what can reasonably De
expected of an Investment in this property
He says:
Coa lands in Maryland that thirty years ago w ste
at 500 per acfe IRE nov WORE he ho,,rh a,
those prices In the Pennsylvania as
the Connesville or coking coal district the ianu
had options on SIS per acre IN iooo; VIII nvm
in the YoughIogaeny field, on which had option, IN
1871 ct from sic to s25 per acre, viii ao~ sci. LOT
/ $500 To $500 per acre. -
! "Land In West Virginia that sold three years aSo
now. These lands are OF the West Virginia CeRtral
| railroad. -
nr. George c. Potts, of South Watauga,
Tenn, whose father was ons OF the founders
Of The anthracite coal development, recently
said:
| "Coal lands in Pennsylvania, eigbly located and
carrying - to IA feet OF soft coas were worm aoou
10 per acre forty to fifty years ago. to-day the same
| 'Snds are worth from $500 10 81 500 an acre.
This wonderful and rapid increase of 1000
800 per cent. ia value on good coal property
every year for fifty years is hard to realize by
those not familiar Wits the history of such
properties, but, nevertheless, such are the
! facts.
pHorosirIos TO SELL S1SE-TENTHs OF THE
PROPERTY HEREIN DEscg1REp.
! Ny object is to dispose of a nine-tenths I'M
;.1 bd
scribed to, say nine different persons, retaining
| a one-tenth interest myself; then, after Sc
curing the necessary number of purchasers,
nv plan IS to form of the different owners of the
property, company for the purpose of develop
ing aud operating the mines. My reasons for
Offering to dispose of part of the property
in this manner are: First, desire to make of
this Company strong and substantial organ
hation by interesting men of large capitab
Second, am not in position, financially, to
carry the property alone and wait fer the great
increase in value that its owners are sure to
realize before Q very great while.
New nv proposition is this In the event,
for instance, responsible party is DESTROYS Of
purchasing one-tenth interest in the proper
| ty, we would jointly enter into the following
agreement:
This Agreement made and entered into this day
| of -, 1892, by and between G. NJ. Harris, OF Vir-
1 ginia, party OF the first part, and ---- OF ----
party OF the second part,
| WIrSEssnrn, That, whereas the party OF the first
], par. is the owner OF the Coal Oil, Gas and Mineral
Rights, with all and full Mining Privileges on One
/ Thousand acres OF Coal Land lying and being in
Dickinson county, Virginia, on the waters Of Mcclure
river and Mill creek: and
/ WHEREAS The said Harris, party OF the first part,
proposes to sell nne-tenths interest iii said Miner
| al Rights and Mining Privileges at the price Of $40
per acre. and the terms ana conditions hereinafter
lmcnti0ned and,
part il DESTROYS of purchasing tenth undivided
1 interest thsreiAy
! Now, Therefore, in consideration Of the premises.
the said second party hereby binds himself his heirs
and assigns after the expiration OF = days from the
date OF this Agreement fsad = days to be allowed to
4 said second party as time in which to examine and
investigate the coal lands herein mentioned) to pay
the said first party his heirs or assigns, for the
said onetent interest above mentioned, the Of
Two Thousand Dollars, to be paid il the following
way and manner. tO-wlt:
Five Hundred, Thirythree Dollars. Thirty three and
one-tbira Cents Is 533.33l cash in hand, upon the
first party hereto making and passing unto the said
| second party good and suicientdeed to the said
one-tenh undivided interest, and to execute to said
first party two negotiable notes, bearing six per
cent interest per ai.num from date, for the sum OF
53333L each, payable in nine and eighteen
months, respectively, from their date; and TO
execute at the same time note for -Four Hun
drcd Dollars to c. NJ Harris and associate owners OF
the One Thousand acres of Mineral Rights and Min
ing Privileges herein mentioned, said note to bear
six per cent. interest from its date. However, it is
agreed and understood by thepares hereto that the
said note for Four Hundred Dollars is to be deposited
!! in the Blink, Oh, for collection, at
| maturity, and the amount, when paid n to become
common fund and shall belong the said e. NJ Harris
and associate OF the said Rights and Privileges
Therein mentioned and is to be used only develop
/ mcnt fund in opening up and operating the coal
mines on the property described above, unless other
wise provided for and agreed upon thereafter by said
Harris and associates
1t is agreed further by the parties hereto, that the
said first party, in transferring the tenth interest
herein named shall retain in deed for same vend-
or's lien on same, to secure the deferred payments
! above mentioned.
1t is also further agreed that, in the event the party
of the second part should not take advantage of the
days mentioned above as being allowed for investi.
eating and examining the property, such action shall
be regarded his (he second partys) own neglect,
and this contract shall be as binding il he had
made thorough and satisfactory examination OF
| same.
Witness the following signatures and seals, the day
4 anu year above written.
4 -, [SEAL.l
/ invite responsible parties to take an inter
/ estwith me in this valuable property on the
terms and conditions set forth in the above
form of agreement.
OPERATING AND DEVELOPMENT FUND.
/ It will be seen that the last payment OF
$500, as illustrated in the above purchase of a
one-tenth interest in the property-which
amount represents 81 to each acre is set
apart as a Development and Operating Fund,
thus enabling the owners of the property,
at the end oftwo years from date of purchase,
to commence mining the coal, with fund in
their hands of $4,000 to be used for this pur-
pose. 81,
In speaking Of the value and favorable To-
cation of the property, the fact should not be
lost sight Of that it is located in the center of