The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-08-29
A SHREWD SCHEMER.
One Man Who Made Himself Rich
Without Any Capital
A Pittsburgh Real Estate Transactions
That Serves 10 illustrate the I'm
torprising Spirit of some
Americans.

American Shrewdness is well Illus
trated IN a real estate transaction that
occurred at n small town not many
miles from Pittsburgh, says the Dis
patch of that city. On capital of -
cents man possessed himself of $780,
600 worth of property. Six or seven
months ago Mr.. Blank met with some
losses in business which cleaned out
what capital he had and left him with
IS cents in his pocket. He realized
that something had to be done. Hav-
ing place where he was always SURF
of accommodation he wasted no time,
but on the very day he met his loss he
began to look about to turn something
up.
For long time he had noticed ess
acre tract of land adjoining town Of
5000 inhabitants which he thought
would make great real estate invest
ment. He went to the agents of the
estate and secured pincty-day option
on the place for $3.50. He didn't have
the money, but being well known in
the neighborhood was given credit.
He next engaged surveyor. who laid
him $3.50 for his services. This, like
wise, credit. lie thought IL would be
a good idea to have street railway
located, and as time was money in his
case he succeeded in getting a charter
through. being friend of the governor
in those DAYS.
He next announced through adver>
tisements obtained on credit that ho
desired to sell number of lots at $3.50
each, conditionally; that is, no money
was % be paid on the purchase until
he mad broken ground for the location
of some mandatory employing not
less than 200 men. When such fac
tory was started the buyers were to
hand him half the purchase money.
In eighteen days SIS, 900 worth OF prop
erty was disposed of 10 some of tho
most solid citizens of that town and
Pittsburgh. great deal being sold in
blocks. About this time the creditors
who had favored him were beginning
to press for their money. 50 ia order
to hasten a contamination of his plans
he called upon a prominent manufso
turer Of Pittsburgh and made him q
proposition that IL he would move his
works TO this point he would give him
so much ground and cash bonus be-
sides.
All this time the promoter had moth
ing but his IS cents. and creditors wers
pressing him on every side. The man
ufacturer refused TO locate until re
received a deed Of the property. Tho
promoter here met another dificulty
He couldn't get deed until he paid
for IL. He finally saw q way out Of IL.
and asked the manufacturer II het
wouldn't begin digging for the ionnda-
tious, assuring him the deed would DO
forthcoming in due time. This tho
manufacturer did, and no sooner wa-
the stone hauIed and the ground
broken than the reel-estate man called
upon his purchasers for half the pur-
chase money, according 20 agreement
In couple Of days he had s.. 800 In
his possession. With this he wa,
a bic TO pay the manufacturer his
bonus. 20 settle all bis debts, and by
placing severai mortgages 20 purchase
the property He now has four manu-
factories under way, two squares 81
railway laid, and 200 lots left, ate,
having paid for everything and allow
ing himself . liberal sals-~ S-sideA