The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1892-05-06

erty has made his laSg psst iisS.t I" - Z,
FIRE Brick co.,o Keystone Junction, pa., Is
! fsir5iIlus ion. Of what can reasonably be
J y,seted e al Investment in this property.
He says
, az stS Ia sIJ( uer acre are now worth from fooV
~ &, 0r 7,er mere aud not much can Dc poushe at
those IN the Pcnnsyl district, KNOWN aa
the Connesve cokng coal district sa.o Tue Eli ,op
oniofs on at to 5 per acre IN 1903, WIZ HOY
ir;n ard have sold for 81 GOO per acre; also lands
=; .h 'yonghoeheny field. on which had options IN
1871 at from $l3 TO SIS per acre. VIII now sell iof
$500 to $500 per acre =, 49, $3.50. 80
~ 81 10 ga Ier acre will bring $50 more per acre
now. These lands are on the West virginia Central
railroad, -
Mr.. George G. Potts, of South Watauga,
Tenn. whose father was ore of the founders
Of the anthracite coal development, recently
said
CoaI lands in Pennsylvania, eligiby located ana
to IA feet OF soft Goals, were worth about
10 Der acre forty to fifty years ago; to-day the same
snds are worth from 500 to 81 SOD an acre"
This wonderful and rapid increase OF loo to
300 per cent. in value on good coal property
every year for fifty years.is hard to realize by
those not familiar with the history of such
properties, but, nevertheless, such are the
facts.
PROPOSITION TO SELL EINE-TENTHs OF THE
PROPERTY HEREIN DESCRIBED.
NV object is to dispose of nine-tenths un-,
divided interest in the property herein de-
scribed to, say nine different persons, retaining
a one-tenth interest myself; then, after Sc
curing the necessary number of purchasers,
INV plan IS to form of the different owners of the
property, a company for the purpose of develop
ing and 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
ization by interesting men of large capital.
Second. am not in position, financially, to
carry the property alone and wait for the great
increase in value that its owneps are sure to
realize before a very great while.
Now my proposition is this; LIN the event,
for instance, responsible party is DESTROYS of
purchasing one-tenth interest in the proper
ty, we would jointly enter into the following
aSfeeWeHC:
This Agreement made and entered into this day
Of, 1892, by and between C. NJ Harris, OF Viz
GINA, party of the first part, and - of -------.
party of the second part
WITNxssETn, That, VIII ereas the party OF the first
part is the owner Of the Coal, OIL Gas and Mineral
Rights, with all and full Mining Privileges One
Thousand acres of Coal Land, lying and being in
Dickinson county, Virginia, on the waters OF Mcclure
river and Mill creek; aud
WHEREAS, The said Harris, party Of the first part,
proposes to seia nine-tenths interest in said Miner
al Rights and Mining Privileges at the price OF $40
per acre. and on the terms and conditions hereinafter
mentioned and,
WHEREAS, The said --, party OF the second
part, is DESTROYS OF purchasing one-tcnth undivided
interest therein
the said second party hereby binds himself his heirs
and assigns after the expiration OF days from the
date of this Agreement said days to be allowed to
said second party as time III which to examine and
investigate the coal lands herein mentonedl to pay
to the said first party, his heirs assigns for the
said one-enth interest above mentioned the sum Of
Two Thousand Dollars, to be paid in the following
way and manner, to-wt;
one-third Cents Is 533.S3l cash In hand upon the
first party hereto making and passing unto the said
second party good and sufficient deed TO the said
onetent undivided interest, and to execute to sal
first party two negotiable notes, bearing six per
cent interest per annum from dates for the sum Of
533 1914 each, payable in nine and eighteen
months, respectively, from their date; and to
execute at the same time one note for Four Hun
bred Dollars to G. D. 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, 1t Is
agreed and understood by the parties hereto that the
said note for Four Hundred Dollars is to be deposited
in the Bank, of ------, for collection, at
maturity. and the amount, when paid, is to become
common fund and shall belong to the said c. NJ Harris
and associate owners Of the said Rights and Privileges
herein mentioned and Is to be used only develop
ment fund in opening up and operating the coal
mines on the property described above, Unless other
wise provided for and agreed upon hereafter by said
Harris and associates.
1t is agreed further by the parties hereto, that the
said first party, in transferring the oetenh interest
herein named shall retain in deed for vend-
or lien same, to secure the deferred payments
above mentioned.
is also further agreed that in the event the party
of the second part should not take advantage OF the
days mentioned above being allowed for invesi-
eating and examining the property, such action shall
be regarded as his (tbe second partys) own neglect,
and this contract shall be as binding as il he had
made thorough and satisfactory examination OF
same.
Witness the following signatures and SEALS the day
and year above written.
invite responsible parties to take an inter