The comet. (Johnson City, Tenn.) 1884-1916, 1892-04-28

=
ready to go into blast, and splendid
hotel, second to none in any country,
where the tourist and invalid may find
a most delightful home, surrounded Ivy
every comfort, Acquainted as | am
with hotels from Saratoga "a Florida,
with Middlesborough, Harrogate, and
Asheville, I can truly say, this is the
place for rest, for quiet enjoyment and
good cheer.
The two great cooperative COM
panies of Watauga and Elizabethton
are just fairly getting under way.
Mr. A. A, Arthur, late president OF
the American association, at Middles
Borough, Ky, invested for this great
English syndicate $4,000 900 in min.
eral lands Of rare kind, built the city
of Middlesborough, with a population
# eight thousand built great iron
md steel plants, and one hundred and
fifty miles of railroads, pushed the
great tunnel under Cumberland Gap ;
built churches, schools and colleges,
and in a public address at Cumber-
and Gap recently it was stated he
had done more for the cause of civiliza-
ton, religion and education in the
far off districts of Kentucky, Virginia
and Tennessee than all the COVER
nors, ministers, and corporators from
the days of the revolution to the pres
ent time. The stock of this company
appreciated in value $50 per cent. on
the original cost to investors.
This same gentleman is now presi-
dent of the Watauga Cooperative
company, and Col. T. B Cory its sec
rotary and treasurer, who was also Mr.,
Arthur's associate at Middlesborough
in this capacity, and in the manage
ment and conduct of the vast sums,
not one dollar was failed to be ac-
counted for. The authorized capital
stock of this company is twelve and
one.half millions Of dollars, to be in
creased to twenty millions. Already
hey own vast tracts OF magnetic iron
re, a beautiful town and manufactur.
ing site three and one.half miles east
Of Carnegie, and laying on both sides
+ the Watauga river, which furnishes
a power second to none on the cont.
lent.
A railroad twenty miles in extent
PARTIALLY built, extends from the iron
fields to the intersection Of the Wat.
auga river, with the Three G. road.
This road also intersects the Fast
Tennessee, Virginia and Georgia rail
road at the town site.
In this valley six or great iron
and steel plants are soon to he located
aad it is safe to say that what Mr.
Arthur and his associates accomp
lished at marlborough will be lie
peated at Watauga.
Already the stock has been largel,
placed, and this even without any eff
fort on the part of the company.
The Elizabethton Cooperative Towr
company has an authorized capita.
stock of ten millions, with Hon. Robt
P. Porter for president, and an execu
tive committee Of national reputation
!, They have q magnificent town site
with all tn elem MS of success within
their grasp Their stock has been
literally rake'. and these two co
operative companies apppa At once
men Of small mrans, aud cannot ia
O Prov IL splendid iaves me t, Th,i
recent meeting here was a most satis
factory one, and we rejoiced TO SCI
/ Senators Cmhsie and Harris and theiI
distinguished associates.
The Iron Belt and Proctor Lane
Co.'s are deserving Of special notice
: These are magnificent properties, s tn
:, ated, the one along the western boz
: der, the other the eastern portion c
Johnson City, whose officers are me-
: Of the highest repute, and who, in tn
g main, reside here. For building site
e no more eligible situation could be dc
sired, and cannot fail to attract tn
t most fastidious.
s At Embreeville, distant 10 miles,
t handsome furnace has just gone int
blast, whose product is Of very super
or quality. and in addition to this grea
e beds of iron ore are now being oper
t ed by a strong and active company {
= large wealth, and 0 0 we shall hav
r this town competing for popular fayol
n She is connected to us by a good broa
guage railroad, and will contribut
n largely to the wealth Of Johnson City
d In conclusion let me state on
e schools, both public and private, are {
the first order our society most e!
%cellent our people are church going