The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-08-31
$52O,0oO
INVESTMENT,
A Big Deal Consummated in West
Virginia.
THE VANDERBILT SYNDICATE. OF
NEW YORK, MAKES A HEAVY
INVESTMENT IN TIMBER LANDS.
a NEw-RAILRoAD TO BE BUILT
CONNECTING WITH THE CH4sA.
PEAKE AND OHIO, OPENING UP
a VAST REGION.

Washington, Aug. 30.-One of the
largest transactions of years in West Vir-
gina lands has just been completed NV
the sale of the greater part of whot l.
known as the Cheat river wilderness to n
New York syndicate, of which Cornelius
Vanderbilt DR.. w. Seward Webb. and 7.
Mckay Twombley are the principals.
This syndicate has purchased from Hon.
John L. McGraw, member of the National
Democratic Committee from West Vir.
GINA, n tract OF about 3,0GG acres for the
sum of $500, 600. 8 small fraction of
this amount is represented by tine inter.
est which Mr.. McGraw retains in the
syndicate.
The tract purchased is about fifty miles
long and averages about ten miles in
width. 1t lies along the middle of tho
eastern border OF the State OF West Vir-
ginia, its northern boundary beginning
near Horton, the present terminus OF the
railroad built by the leather trust to
reach the timber lands from which it has
been taking tanbark. This railroad ex-
tends from Horton northward and inter.
scots the West Nirinia Central railroad
at Parson. Extending in south
westerly direction, the lands purchased
include all the territory about the head
waters OF the Cheat river and between the
forks of the Greenbrier. Both rivers have
their sources i'll the Allegheny noun
talns, which are the eastern boundary of
the tract, as we'll us the dividing line be-
tween Virginia and West Virginia, and
in the Greenbrier mountains, which form
the western limits of the southern part
of the tact.
The territory covered by this PURCHASERS
Immensely rich in coal, marble and iron.
but the timber which covers i orers the
most tempting field. White pine, spruce.
popular and hardwoods are found in per,
tect forests. The action of the State of
New York in stopping the cutting of
timber in the Adirondack region took
out of the market one of the largest
sources of supply of spruce lumber. This
weed is largely used In the manufacture
OF pulp wood for wood pulp mills, and
the new field which this syndicate will
open up is the largest and most available
to take the place of the New York spruce
forests.
The syndicate which has bought the
AcGraw tract has also acquired control
Of the leather trust railroad A construc-
ton force will proceed Ut once to build an
extension of about 40 miles, from Hor.
ton, the present terminus, down through
the valley of Grecnbrier Mountains to
the forks of the Greenbrier river From
tins point IL will follow the course of the
White Sulphur Springs. 1t is not vet de-
ter1iined whether short cut will be
made from heie across the mountains to
White Sulphur or the longer but easier
course Mt Greenbrier river will be fol-
lowed to Ronceverte. In any case, con-
nection will be made with the Chesa-
peake and Ohio railway at one of these
points.
This new railroad will tap portion of
the State hitherto entirely undeveloped
through lack OF transportation facilities.
lt has probably the largest amount OF
ready available tonnage in sight of any
road o. its length in the South. Through
It's connections with the Chesapeake and
Ohio at Ronceverte or White Sulphur
Springs, and with the West Virginia Cen
trail at Parsons, through which shipments
can be made east or west via Baltimore
ana Ohio at Cumberland, or PENNSYLVANIA
railroad ut Hyndman, it will command a
liberal choice OF. rates to all the great
markets OF the country, and be in posi-
tion TO shape rates to it's advantage
through the three competing lines
The ELECT on the country through which
the railroad will pass will be immediate,
rs its projectors will push forward the
erection OF saw mills, wood pulp mills,
and tanneres ut once
The old esidents of the State will view
with regret the building of this railroad,
as 1t cuts right through the heart of the
Wilderness" the last great tract of
wild lands left in the State This section
has been long lannon's for its game, and it
Is said that more deer have been killed
about the forks of Greenbrier" than any
place in che East.