The St. Johns herald., 1893-12-21
A SHREWD SCHEMER.
One Man Who Made EimsaiI I,,iic
 Without Any Capi5dL
A Pittsburgh Real Estate Tr8us9ct D. That Serves to Illustrate t:sc Cn- terprising Spirit of Some
 Americans.

American shrewdness is well illus. trated in a real estate transaction thas occurred at small town not nam miles from Pittsburgh, says the D-.- patch of that city. On capital of 1a cents man possessed himself of S,:0y 7, GOO worth of property. Six or seval months ago MT. Blank met with some losses in business which cleaned ont what capital he had and left him with 75 cents in his pocket. He realized that something had to be done. Hay ing place where he was always sure 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 a 2SS 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 ninety-day option on the place for S350. He didn't have the money, but being well known in the neighborhood was given credit He next engaged surveyor, who laid the plat out in 1,600 lots and charged wise, credit. He thought it would be good idea to have a street railway located, and as time was money in his case he succeeded in getting charter through, being friend of the governor in those days.
 He next announced through adver- tisements obtained on credit that he desired to sell a number of lots at S25O each, conditionally; that is, no money was to be paid on the purchase until he had broken ground for the location of some manufactory employing not less than 200 men. When such a fac tory was started the buyers were to hand him half the purchase money. In eighteen days SS5,O0O worth of prop erty was disposed of to some of the 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, so in order to hasten a conSummatiOn of his plans he called upon prominent manufac- turer of Pittsburgh and made him a. proposition that if 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 noth- ing but his 75 cents, and creditors were pressing him on every side. The man. ufacturer refused to locate until he received deed of the property. The promoter here met another difficulty He couldn't get deed until he paid for it. He finally saw way out of it, and asked the manufacturer if he wouldn't begin digging for the founda- tions, assuring him the deed would be forthcoming in due time. This the manufacturer did, and no sooner was the stone hauled and the ground broken than the real-estate man called upon his purchasers for half the pur- chase money, according to agreement. In couple of days he had S42,5O0 in his possession. With this he was able to pay the manufacturer his bonus, to settle all his debts, and by placing several mortgages to purchase the property. He now has four manu- factories under way, two squares of railway laid, and 1,200 lots left, after having paid for everything and allow ing himself liberal salary besides.