The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-03-18
LOCKVLLE DEAL
LARGER
THAN SUPPOSED
Syndicate Acquires Six Miles
Of River.
AND RIPARIAN RIGHTS.
ID RIPARIAN RIGHTS
CANAL WITH FINE DAM AL
READY CONSTRUCTED.
SALE COVERS $4,000 ACRES OF LAND
Many Ventures of One Sort and Another Have
Been Undertaken al lockyilIe

Inc transaction by which the water
power at Lockv.lle passed into the hands
of capitalists, on yesterday. who will
use it was larger even than was indica-
ted in yesterdays paper. Besides The
water power at Lockv.lle and tha land
rights adjacent thereto the new synd;.
cate acquired water and riparian rights
for six miles lsp and down the river.
The plans when fully carried out cover
an expenditure of between three and
-four million dollars: 2.415 acres of land,
all told, divided into eleven tracts lying
along the both sides of Deep river, and
the employment of Il matter of 5000
hands,
Deep river frcm the Cummock coal
mines sweeps eastward in 4 wide horse
shoe curve and just at the toe OF the
shoe Lockville lies.
Ii is historical old place in way and
as business venture the rapids have
had checkered history. Lockyillc was
once known rs Ranlsey's Mills and was
so known when Lord CORVALLIS hasten
ing northward to his finish at Yorktown
crossed over the river and camped had
by the fails. From the early years OF
the settlement the fine water power has
been utilized for an old-fashiGngd grist
Mill. AT various times ALSO there haze
been cotton gins. foundries and otlier
enterprises there.
Along in the late fortips or carly
fifties the Cape Fear Navigation Gem
pany purchased the falls and made an
abortiye attempt to render Deep river
navigable. In furtherance of the at
tempt they built fine stone dam above
the falls which is still standing and
dug a canal Il mile in l.ngth around the
falls. The locks are at either end Of the
canal one still in excellent condition
and there is twenty-five feet of fall at
the lower end of the canal. One of The
locks alone cost more than 100000
For the length of the canal the river
iss broken into shallow and rapids. Be-
tween the canal and river the little VII
lage of Lockville is situated. but there
is plenty of room there for all the POO
pie who are destined TO be drawn =
the place by the new enterprise. Be
low Lockvilla some miles Haw river and
Deep river merge to make the Cane
Fear.
At the upper end Of the canal as was
stated there is fine dam standing aud
it will be Il comparatively slight iasl;
to turn the whole volume of the riyer
into the canal. Even at the head of the
canal the current is estimated to be OF
500 horse power. the water being six
feet deep.
a short distance above the Lockvilie
dam is what is known as Rives' DAM
which can be reconstructed in such IL
way as to afford an immense reservoir.
Here the syndicate owns large tract
of adjacent land
Above Riyes' dam a mile or SO is
Gorgas' mills and above that is Clegg's.
dam. ths latter being about six miles
above Lockyile as the river runs. All
this stretch is Included in the deal
which has just been consummated At
Ctegg's dam there is "A depth of 10
feet of wafer, Rocky river entering Just
above this point. 1t VIII be seen hat
IA property capable of magnificent de-
vclopment has been acquired.
TO return for moment TO the history
Of previous ventures in connection with
the fails. after the Cape Fear and Deep
River Navigation Company failed. their
rights passed to the Deep River Manu-
featuring Company. This in turn failed
and the American iron and Steel Com
pany came into possession of the prop
erty. and transferred II large share in
it to the Lobdel Car Wheel Company.
of Wilmington, Delaware, and to Col.
j. NJ Heck, of Raleigh. The Ameri
can Iron and Steel Company were own
ers Of the property subject TO Il large
mortgage TO I4obdell and Heck.
Such has been the checiered history
Of this undeniably valuable piece Of
property which has wanted only capit;!
and well-advised effort to abundantiy
prosper.
The sale was made to the virginia
Trust Company of Richmond, which is
merely holding the title in trust for the
syndicate.