The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1903-03-27
AMERICAN PHOS-
PLATE CO.'S SALE.
Property Bought IN BY Congress
man Foedorer, the Principal
BondhoIder. For S52,500.

The sale of the property OF the
American Phosphate Co. has resuI-
ted in the entire property being pqr-
chased by Congressman Robert n
Foederer. of Philadelphia. represent
ing the bond holders, for a total ot
$j2. 500. ooo
The property consists OF o'OoO
acres of phosphate land situated IN
the southern and southwestern portons
of Maury county and also In Lawrence
county. The original cost OF the lahu
was 1928, COO and there are over
800. 900 worth of improvements on III,
/ including crushers. fertilizer plant
etc, so that in all the property cost
! Originally ABOUT 1925, OOO. There are
bonds on it TO the amount or SOU VOO:
/ all held by Congressman Foederer' OF
| Philadelphia. and his associates VINO
came here with him TO attend the sale.
The bonded property, all situated IN
| Maury county, was btd In Dy Con-
gresham t'oederer, for sou, Ooo, no
one offering a bid against him. ibis
consists of twenty -four tracts' OF
! 3, 400 acres of land and valuable I'M
provements. Several other tracts
known as the M. p. Harris and L. D.
| Ray, tracts, containing about 4O0 acres
not bonded, were sold to Mr.. Foederer
in lump for 81, 800. Mr.. ID. d. kuhm
Did varions sums on the dlHerene
tracts which when Jumped amounted
to 81. 300. Mr. Foederer then raised
the bid to 1900. The Lawrence
county land, consisting of 2. 600 acres
was sold to Mr.. toederer for 81 Oo0.
In all these purchases Mr.. Foederer
represented the bond holders, OF whom
he and Mr.. W. w. Gibbs, are the
heaviest interested, though Mr.
Foederer now owns large majority
of the PONDS himself.
Notes were signed by Mr.. Foederer
In Chancery Clerk Akln's office aIter
the sale of the purchase money. Inc
sale will be confirmed next month dur
ing Chancellor Bearden s court.
Will Operate Plant.
A Herald reporter saw Mr.. toederer
after the sale and asked him Tor
statement of his Intentions as TO the
future OF the company. he salo
1--WE cant tell yet what will be decl-
ded on The company will be re-or-
ganized, ana after today's sale is con
firmed and we get everything stral ght-
ened out, we will then take up the mat
ter of placing the plant in operation.
1t IS our intention, however, TO resume
operation we will place the properly
IN thorough repair and go into the
commercial phosphate business on
steady scale. .
Mr.. Foederer.
Congressman Robert I'll. Foederer,
referred to above. represents the
Fourth Pennsylvania district In Con
gress He was elected as republican
by majority of 237, 600 votes His
district is part of the city OF Pnlia
delphla, owned politically by that AN
Sin of politics Senator Matt Qaay.
Mr.. Foederer, however, owed h1s elec
tion not to Mr.. Quay. One is impressed
with this fact when one meets MIN, TOT
he is most affable, courteous, kfndIy
gentleman VINO can win his own way
in politics as well as In business lie.
where ne has accumulated fortune OF
Sl5 900, 900. He is plain, every dav
American, whom one dellohts to meet,
and to be Pennsylvania repu OIL
can, he is most charming man. he
appears more to be democrat than
republican. and if he wouldn't tell 1t,
no one would believe that he was re-
publican.
Mr. G1bbs-the other big man OF
the party has all the ear marks OF
the republican. He looks the part.
So well, inaeed, that he was chosen by
Marx Hanna as Treasurer of the Repub-
bi1can campaign fund in f9O0. Mr.
Glbps could probably tell pretty we'll
how much it took to down ''BiHy
BRYAN, but there is no record that he
has ever done 1t. He is also national
com mitteeman for his party IN Penn
sylvania. He is also worth about
$40, 900. 900.
Mr.. James Collins Jones, "Phlla-
diphia lawyer, is also in the party.
Down South the supposed omniscience
OF Philadelphia lawyer has passed
into a proverb, and there was CON
siderable merriment at the sale
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