Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1906-12-08
DEAL IN LIMESTONE LAND.
h. \. Rutherfo d Sells Tract to
American Lime & Stone Co.
PAIO $4,000 FOR PROPERTY
Capitalists VIII Develop the Land and
Establish Limestone and Cement
industries.

udl Was prpODdDly tue largest IN.
dividual- deal in property ever made
in Berkeley county was contaminated
Thursday evening in this city, when
Mr.. Harry II. Rutherford, of Martins
burg. disposed of his 403-acre tract of
limestone land In Berkeley county to
the American Lime & Stone Co. re-
ceiying therefor the sum of S120,S2S,
all of which was in good. hard cash
except $4,000, which was deferred
payment, secured by sufficient guar
antee. and which will be turned over
to Mr.. Rutherford in due season.
So many gigantic deals that failed
to materialize have been made in
Berkeley county limestone land during
the past few years that the people gen.
orally have become somewhat skepti.
cal concerning the genuineness of any
proposition looking TO the develop
ment of the rich deposits In this sec
ton, and only the hard cash turned
over and in hand is now accepted as
prima facie evidence of bona fide
deal
In this case the deal has been con-
summated. the money turned over and
the deed in which Mr.. Rutherford re-
linqushes all right and title in his
big tract of land, has been filed for
record with County Clerk Bender. MIR,
Rutherford has Melted handsome for
tune by the transaction, while the
American Lime & Stone Company has
come into possession of what has been
pronounced by experts to be the most
valuable tract of land in West vir-
ginia for the purpose for which It was
purchased.
Capitalists Get Control.
The American Lime & Stone Co. is
composed chiefly of capitalists of Par.
kersburg and other cities In that sec.
ton of West Virginia and we'll known
business men of Pittsburg. The com
pany was chartered under the laws OF
West Virginia in July OF this year,
with the following members:
Lyle L. Jones, of Parkersburg;, cash.
Ter of the Wood County bank; J. Men.
tor Caldwell, Blanchard e. Hiatt, II.
M. O'Blenness and H. Randolph Nc
Cluer, all of Parkersburg. In addition
to these the company includes Major
C. ID. Elliott, United States marshal
for the northern district of West vir
ginia, and several other men of sub
stantial means, who propose to devel
op the land. The authorized capital Is
$750,000.
Negotiations for this land have been
in progress for the past six months
the details of the matter being in the
hands of Attorney X. Poole, who act
ed for Mr.. Rutherford, and who han
died the details of the transaction with
such tact and skill that the negotia
tons proceeded from inception to com
pletion without the slightest hitch.
Naturally deal involving such a
large amount of money required both
time and patience. but Mr.. Poole car
ried 1t to a successful consummation
and secured a much larger sum for the
land than 1t could have been purchas'
ed for year ago
The land is an irregular tract locat.
ed about one mile south of Martins.
burg, in Opequon district, and running
to point about one mile from the Bal.
timore G. Ohio railroad. Options on
the right-of-way through the interven'
ing land have been secured, so that
there will be no difficulty experienced
in securing the proper connection with
the Baltimore & Ohio, without which
the purchase would be practically
worthless.
Rich in Deposits.
This land has been pronounced by