The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-06-07
FUNDS FOR
JAMESTOWN.
Subscriptions for Stock Com
ing In Rapidly.
PROSPECTS ARE BRIGHT
Much of the Preferred Non Taxable
Stock Now Being Sold Here--T Talk
on the Subject With Hon.
John Whitehead.

"The people of Norfolk have gone to
work IN earnest to raise the half million
dollar guarantee fund for the jamestown
Exposition," said Hon. John Whitehead,
oil Norfolk; to a reporter for The Times
Dispatch yesterday.
THE greater part OF that sum has been
subscribed. Three citizens Of Norfolk
alone have subscribed for $i5,U0 oil
the stock, and forty more have taken
$4,000 OF 1t. Besides this there are a
great many smaller subscriptions, which
In the aggregate Will considerably m
crease the SUN represented by these hg-
ures.
."rhe people are also subscribing liberal
ly to the million dollars of preferred
stock of the Exposition Company and 1t
is now being sold in Richmond. This
stock Will pay dividend of four per
cent. and as non-taxable.
is MUCH ENCOURAGED.
Mr. Whitehead has been in the city
several days and expresses himself as
very much gratified and encouraged at
the way the stock is going. He believes
that IL all who can Will take a small
amount there will be no trouble In sub
scrlbing the entire amount made neces-
sary under the terms OF tho charter for
holding the exposition. that is 10 say. a
million dollars. Here are the figures
given by Mr.. Whitehead OF the money
exclusive OF the expected appropriation
from the National government:
Guarantee fund 100000 90
state approprlation aO.VD w
Norfolk's pledge subscription. 2U,OO O0
ton. ........ 10000 70
Norfolk county's pledge sub
scrtption. ... 100000 90
Portsmouth.s pledge subscription $500 10
i "
Total. Observation-Disclosures 81, l25, 600 10
This sum will be increased to two and
half millions. subscriptions being made
by all the cities and counties around. The
national government is confidently ex-
pected to give two for one. and that has
been its policy in such cases." said Mr..
Whitehead. That Will give total OF
seven and half millions. enough to In
sure the success OF the exposition and Its
conduct on a grand scale. Then there
are the gate receipts and the privileges
which Will pay the running expenses.
TIE PROPERTY HELD.
THE exposition company owns $50
acres of land. costing 1t but $4,000. but
which is worth now at Its market value
fully 10000. The land was bought
cheaper than the market value The
Buildings to be erected for the exposition
will be of such construction and char
acter that they will be available for use
as factories. warehouses. hotels. stores.
clubs and for others uses and permanent
streets. we'll paved with water and lights
will be provided. In front OF these
grounds for distance of several thou
sand feet the channel of Hampton Roads
Is only few hundred yards from the
shore. and the water there Is the deep
est In the harhor thus affording oppor-
tunity for the establishment OF fine
wharves and docks. Already there are
valuable docks and a fine hotel on the
site. and access thereto Is easy and swift
by means of the finest and fastest troll
ley line service In the South. The road
is built with the heaviest rails in use
and on a solid road bed. and the cars
can make thirty miles an hour, If neces-
sary, thus putting the exposition site
in easy reach of Norfolk.
THE preferred stock OF the exposition
company, for which am now soliciting
subscriptions in this city, Is to be paid
IN eight installments. one every SIX
months, $3.50 per share being paid In
each installmcnt. on the first OF January
and the first OF July of each year until
the whole is paid. Collections of these
installments will be made from the gen
eral office in Norfolk"