The Montgomery advertiser., 1906-10-26
WILL BUILD
 A SKYSCRAPER leagues Decide Oil This Action. IT IS TO COST s25o,ooo Site Will Be Commerce and Bibb Streets. Ten Story Structure of Most Modern Design Is to Re Erected on Lot Where Fire Visited.

magnificent once building. to cost S250. 900. exclusive of the site. IS to be erected as soon as possible upon the Gay .eaGue property at the corn. Is to be a skyscraper, pr bably of ten stories besides a basement
 Following the announcement of a fo1fismatlon yest,erdSy ,,I ,v morn, mornng g os sale of the property at the junction nt the two thoroughfares named, came the divulgeuce. of the plans "f the uew owners of the property far it's improve
 It will be remembered that the prop. erty was owned jointly by Trasu. and the Teagues broasnt friendly suir for partition. At the auction sale that followed, the property was bid in by Mayor Teas%e oa. aetps fSr TsaSue nn on1 ana bid submitted. This sale was formal ly approved yesterday morning.
 Nearly all of the property involved skyscraper. The preliminary papers have already been drawn for the in- | corporation of the Cav and Teague the entire Commerce street front con l sfsting of eighty feet. and extending back l20 feet on Bibb street. The pro.
 posed building VII be eighty by 11o | feet. leaving a ten foot area Gay. for
 light and egress. across the entire | rear end, and thus giv'.ig outside w:n- l dows on three sides.
 The. new corporation is to have q
 capital stock of s2oO.ooo. and in addi-
 tion will issue bonds to the amount of
 l50.0O0. giving tclil amount avai-
 ,n able of ss5e.oo9;. 9f a. this sum the
 ed in as payment for sloo 900 In stock.
 leaving balance of s25o0oo for build
 ing Eb,a RsrPoses' s9,m i, i. is,.sv.a ,v w Nj
 Teague. will be sufficient to erect ten
 story building of the size contemplat-
 ed. The details of the structure have
 not yet been determined. the architect
 cided. even. of just what construction
 1t will bc. though 1t is certain 1t will
 be <oSsey %Sasl1 Ii" reproo, It tons;ruc,ss @ny ss
 throughout oi .. l. ur it may be of
 concrete. Reinforced with s.cel. of what
 is ordinarily known as fireproof con
 The first floor will likely he devoted , to store rooms though the arrangement may be altered somewhat if nor
 lucrative patronage should be secured
 The upper floors will be arranged int, . omce suites. and will he used exclu sively for that purpose. The Teagues will form the Gay an,
 tion is likely to be known. the nam Gay being Incorporated because tha , family owned the corner uron whicl the new building Is to he erected fo many years. and also because member Of that family are expected to be heav $ lily interested in the corporation witht = a short time. The Tongues will re . ceive stock to the amount of $1O0.00
 in exchange for the Commerce Stree . lot, and stock for the Gays will b . issued immediately after the organiza . tion of the company.
 MT. Teague says that the prelimi nary work upon the new business edi . flee Is to begin at once. and actual con . struction work soon as possbl, U though that may not be started, owin to the large amount of Dreliminar work. for perhaps three ar four month. i The rear end of the lot formerl owned by the Teagues and the Gays
 which included in the sale. under or 5 der of the court. to the TeIgues, vii ] be retained by that family. This i : the portion fronting on Bibb Street the present building being occupied b. the Montgomery Carr age Works.