The evening times., 1896-02-26

/ More people who claim they have been
victlmized by the New Alexandria I'm
prorement Company. the latest boom-town
| concern to fall through, have made com.
plants to The Times.
In August, 1884, the company took out a
certificate OF incorporation under the laws
or Virginia, for the purpose of founding u
town. Chief among the promoters were
Luther W. Spear. president; J. n. Wyckorf,
secretary. and j. Ii. Hines. agent.
The site chosen was a tract OF land Of
about twenty-five Or thirty acres, one mile
south Of Alexandria, on the river front.
Electric cara 10 Mount Vernon pass the To-
cation. and 1t was claimed that several large
manufacturing plants and industries would
at once locate there.
The plat OF ground was cut up into build
ing lots Of 25 by 140 feet, and "a consider
able amount of money WIS expended In
booming the town, which was called New
Alexandria," Free excursions were run
to the place at regular intervals, and barbe-
cues and clam-bakes provided for the enter.
tainment OF the cxcursionists. In this
manner and toy the large inducements and
promises which the officers and agents OF
the company held out a number of parties
were persuaded TO invest In the company's
lots.
PAYING FORTHE LOTS.
These ranged in prices from $10Ot S4OO,
and the scheme OF payment was on the in
stalment plan.
Upon first payment the vendee received
from the company memorandum OF gree
ment, which recited thatupon the ecompletion
al ma vp,prtt bs. M, xroS to rocaire,
4 warranty deed to his property. A stipu-
latioD was, however. provided that should
payment fail to he made on the regular
monthly or weekly payday, the would-be
purchaser would lose all that he had pre-
viously paid.
1t now appears that even those who
have kept up their payments regularly
and paid the amount agreed upon In full
are by no means certain OF getting any
title TO their property. The Times has
made inquiry Of nUmber VITO have in
vested their savings in The scheme. Harry
r krause, raPcrh3Dger, who lives at
No. 1923 New York avenue, believes he
is one OF the victims. His contract is dated
August 10. 1894; his last payment was
made November 20, 1895. He was then
promised deed 30 his lots In a day or so.
Since that time he has seen or heard moth
ing OF the company or its Officers. When
payments were due, he says, the collectors
were very promp; In their calls, but since
krause has paid in ali his money they do
not come to see him. His agreement is
signed by N. Wycsofr, as secretary. but
l.. W. Spear, who Purported to be the
sole owner OF the land. does not appear,
Notwithstanding the fact that he was
president of the company.
The Officers of the concern were located
at different places. but II said they only
remained in one building until rent day
came. AT the height OF its prosperity,
when lots were selling rapidly, they oc-
cUpied a suite OF rooms in the building at
Ninth and + streets. They have no location
at present.
MR.. SPEAR IS IN NEW YORK
4 call ut the residence OF L. W. Spear
revealed the fact that that gentleman
was in New York, working on another
scheme, and no knowledge could be gained
OF the company's affairs.
Many other investors are in the same pre-
dioamcnt as Mr.. Krause. and are wondering
;f they VIII ever get anything to show for
their money.
1t is said that Spear sold a number OF
lots and took merchandise in exchange, and
that a number OF them went to ray his
debts to people who would otherwise have
had nothing to do with the New Alexandria
Company.
Spear, it is also alleged. started n similar
scheme ut Lester. Nd. previous to his
opening up New Alexandria. Then he had
some trouble with the original owners of
the site. and was obliged TO abandon the
project then.
a hotel was erected on the town site, and
there Spear lived FOR some time, and prom
scd to oerectnumerouso usothcrbuildings, which
nc never did.