The Iola register., 1901-08-16
BIDDING
GOES ON
Sale of LawtOn Town Lots
Gets Interesting
Coming Nearer the Business
Center of Town and the
Prices are Higher
SIS PER FRONT FOOT NOW
Most of the Buyers are Men
who Want to Build
Spectators buy the Cheaper
Lots Farther from Bust
ness Center
SIS PER FRONT FOOT NOW
Most of the Buyers are Men
who Want to Build

Fort Sill, Ok, August 9.-Lawtor
has reached the stage of metropolitan
development where police officers mus,
be employed to prevent congestion
along the business thoroughfares
There isn't sign of municipal gov.
ernment, and the townsite commits
sioners are proceeding with that ex-
treme deliberation which character
ICES departmental work in Washing
ton during the month OF August. But
the government employees are the only
persons who are moving slowly. The
merchants along Mccoy avenue and
Goo Goo avenue. who see no imme-
diate removal of the business center,
have perfected an organization and
employed men to keep the crowds and
prairie schooners moving. Despite
the eXasperating slowness of the auc-
tion sale. town lots are selling for a
figure which exceeds the most conf
dent predictions. The average for
ffty-iive lots sold Yesterday was $500
This morning the first corner in the
block north of the land Office sold for
5000, and the average for the first five
lots sold was $500. a combination
was formed yesterday to change the
business center of the town to the
street running one block north of the
courthouse and land Office The two
national banks bids for lots along
this street and the lot on the corner
was sold to the First National bank,
now doing business in small tent.
for $3.50. But the effort to stampede
the town failed, for the price of lots
this morning increased as the land
office block was approached. In two
days the two national banks have re-
ceived deposits aggregating more than
} million dollars.
TOWN LOTS MAY BRING 5000, 900.
The most confident among those who
predicted a great future for Lawton
placed the aggregate amount from the
sale of town lots at "A maximum figure
of 5000, 600. There are more than 500
lots, each with twenty feet 'front.' in
what has been designated as the busi-
ness section, The average for the
lots sold yesterday was 5000, and the
best business locations had not been
reached. If the average of $500 a lot
is maintained the business district
alone will aggregate in sales $240, 600.
The actual creation of wealth through
a concentration of population, as ex-
emplitied in the building of Dawton, is
the most significant feature of the en-
tire opening. A week ago there was
question whether the figures estimating
the value of the quarter section ad-
Joining the townsite of Lawton at $40,-
600 was not exaggerated. The bust
ness activity of the new town will be
along this strip of land. Seventy-iive
thousand dollars is not an extrava-
giant estimate to place on the value of
the homestead selected by Mr.. James
r.. Woods if the sale of the first 200
Lawton town lots is any indication.
A MILLION IN THE TWO BANKS.
Perhaps even more significant than
the high price paid for lots in u town
which has not been Incorporated, is
the evidence offered of the prosperity
and development of the southwest.
The government has required the sue
cessful bidders to pay in cash. They
have brought letters OF credit with
conditions. In five days one million
dollars has been deposited in the two
national banks which were established
last Tuesday. Still, Lawton has its
detractors, groups of men who are
waiting for the procession go'by stand
in the rear of the crowd of bidders
and talk TO each other about the lu-
macy of buying open prairie by the
front foot. But the conversation is
not needed by the men who do the bid
ding. They have figured it out, at
least TO their own satisfaction, that
Lawton Is going to be the town of this
section OF the country. 1t will be, so
the men who are paying unheard of
prices for choice business, locations
believe, a wide open town which will
attract the cattlemen, cowboys and
plungers along the frontier.
Wichita was such a town during the
period of depression in the '90s, they
say, and by the circulation of money
which the men with propensity for
sport provided it was enabled to
weather the storm even though the
crops failed. Oklahoma City is an
other such town in the southwest and
] awton will be the third.