The times. [volume] (Richmond, Va.) 1890-1903, 1892-04-07

An Encouraging Report submitted by Major
James H. Dooley.

meeting Of the stockholders Of the West
End Land and Improvement Company was
held yesterday and adjourned until to-day.
President james II. DOoley submitted his re-
port as follows
Gentlemen. The year 1891 ~ has been
one OF great dullness IN the real estate mar
kei. not only in and around Richmond. but
generally throughout the country. In the
South especially We have felt since our last
annual meeting the depressing effects OF tho
panic Of November 1870. the consequent col
lapse of the land uooms and the low price Oh
cotton. resulting from the production or TWO
successive crops unparalleled IN the history
OF that staple.
Notwithstanding all these drawbacks we
may congratulate ourselves that klchmonu
has not only not retrograded, but Las con-
tlnued 70 advance upon tue path OF progress
aud development.
Our bank clearings for the hrst three
months OF the year 1892 are the largest IN our
history. New manufacturing enterprises are
starting up amongst MS. and the old ones arc
/ being enlarged Our banking capital Is
steadily increasing, and II 10 n tact that our
bank deposits are larger than IN any pre-
ceding year
At your last meeting you authorized the
| board q accept tie stock OF the company IN
payment for sales OF real estate. Acilng
under this authority the board authorized
sales to be made OF any Oi It's property lylng
between Cary street and Grove avenue AT
schedule prices. and stock 10 be received az
,33 yer share M payment
Our sales during the pastyea have amount
ed g. -3.. ~ None of these sales were made
below the schedule some were slightly owe.
The cost OF the above property 70 the COM
pauy WAS - y,t 90 without buildings. mo
buildings cost $50 the sales or LOGS with
out buildings. s33.3li; profit on lots. -lO,-
3 DOB or 20 per cent.
Soon after the last annual meeting OBJ the
stockholders we advertised for five hundred
shares OF tie elk. which was purchased 40
an average price ol S2l.t per share. lotal'
SIZ3lLIs. 40 stock has since been pui-
chased
The company has on hand the following
assets. Real estate. 40 schedule prices q if''-
1000. bills receivable, secured by real estate
szZ.3j- .Z5 cash iu bank 49, ..bl CAL loau''
S23.nl0. Total. s5lJ.iJi05.
The number of shares OF stock now out
standing is Hob. SO that the book value OK
each share u.s. say il.il. The amount OK the
cap.tu stock has been reduced during the
year from 1922 shares .ual 10 sJ3i,OyO u
1853 shares equal TO -l.Z.3z).
Your expenses and taxes during the year
have amounted 10 S2.l5.,4. The increased
assessment of property largely increasing the
taxes. our interest account is more tlau
equal % taxes and expenses
The amount TO the credit of The improve
ment Fund is ,4-j.fy which deducted
from amount of cash and call loans Of
SZ6.295.bl. leaves q balance of Sl1.s201z.
During the last twelve months the company
has caused FLOYD street 10 be opened, graded
and graveled from the Boulevard e. Creu-
shaw avenue. 10 has caused the deep and un-
s,ghtly ditch on the south side of Grove
avenue opposite the Soldiers Homo % be
replaced by subs tantiai culvert. The street
In front Of our grove has been cut down and
the dirt placed upon our lots, an improve
meut which has greatly enhanced the beauty
and value of the property.