The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-07-27

mated yesterday between officials OF
the Delaware, Lackawanna and West
ern company and G. Frank Reynolds,
the real estate agent of this city. The
plot of ground purchased comprises 120
acres. known as the Dram estate, sit
uated on North Main avenue, between
Pettebone and Cemetery streets, and
extends west to the Keyser Valley
branch of the LaCkawanna railroad.
The consideration is not known. but
1t is estimated to be about $1,000 an
acre.
The negotiations have been pending
for several days, and Mr.. Reynolds,
the purchaser, left the city for New
York Monday afternoon where he con-
suited with president Truesdale in
relation to the transfer. Word was
received in the city yesterday by sew
eral real estate men that the deal had
been made, and when a Tribune man
approached Superintendent Loomis
yesterday afternoon on the subject he
verified the report, but refused to
make any statement except that the
purchase has been made by Mr. Rey-
nolds and the plot comprised 100 acres
of land.
Mr.. Reynolds office in the Connell
building, information to the effect that
the real estate agent was in New York
was all that could be CLEANED. 1t is
| understood, however, that the pur-
chase was made in behalf of New
York capitalists. and that Mr.. Rey-
nplds was merely the agent. The
statement has also been made that the
ITgt n
| terestcd in the purchase, but this could
| not be verified.
Mr.. REYNOLDS is the secretary-treas-
urer of the keystone Land company,
| but it is positively asserted that they
| are in no wise connected with the deal.
| That the purchase price is in the
| neighborhOod of $120,O00 is estimated
on the fact that an offer of $4,000 for
| the land was refused yesterday by
| President Truesdale, which was wired
| him by a well-known real estate bro
ker in this city. The original offer
made by the gentleman referred to
| was 500 an acre.
The land in question is undoubtedly
| one of the best tracts within the city
limits, and is a most desirable resi-
| dence section. With a frontage on
| Main avenue, extending from the Mt.
| Pleasant ravine to the school house on
the hill overlooking Trips crossing,
an excellent view of the entire central
city is obtainable.
Many years ago. what was known
as Orams grove stood on the site in
the rear of the old homestead which
now graces the land, and which, by the
way. is one of the oldest landmarks
| in the valley.
The old Warner estate is also lOcat-
ed on the land a short distance north
of the Dram house. Directly in the
rear of this property, about two hun
dred yards distant is the Cathedral
cemetery, which is one of the largest
burial grounds in the city. In order
to obtain the necessary 12O acres, the
| survey must be made around the
cemetery, but this will not interfere
| with the Main avenue frontage in any
! way
1t is understood that the purchasers
intend dividing the land into 800 build
ing lots. The Building and Loan AS.
sociations controlling property front
ing on Pettebone street estimate the
value of lots on that street a. $400 and
upwards.
The opening of the Dram estate viii
permit the extension of Hyde Park
Bromley, Sumner, Lincoln, Rebecca
Garfield, Everett and the remaining
avenues as far back as Grant avenue
and wonderfully increase the useful.
ness of the Linden street bridge,
The street car facilities can be made
to conform with the requirements OF
the residents, as two lines already rur
within easy reach of the land The
| Lafayette street line reaches the corn
er of SHETLAND street and North Brom
ley avenue, one block distant, on the
sOutherly side, and the North Mair
avenue line runs to Tripp park whicl
can be reached from the north sidt
or the east side.
Water, light and sewer connection!
can easily be made as the land is sit
uated within the city limits, being
large portion of the Twenty-first ward
on the easterly side of Main avenue
nearly the entire strip Of land, from
the ravine to a point opposite tn,
Dram homestead, is already built VI
and is looked upon as an ideal resi-
dence place.
With the opening of the RounC
Woods tract on the south end of Wes
Scranton and the Dram plot on tn
north side, unusual advantages will
be offered in building lots and boon
will be created in the real estate bust
ness the like Of which this city ha
never experienced i'm that part Of tn
city.
The Round Woods Tract.