Evening journal., 1912-05-01

City Councils minutes show that
tho effort now being made by tho
I Wilmington Terminal Company tho
Edge Moor Iron Company and the
National Dredging Company to make
the city Of Wilmington a little part
ner in a big water front exploitation
scheme Is not the first thing OF It's
kind that the Wilmington Terminal
Company has made The previous at
tempt was made between three and
four years ago and 1t was Hat fail
ure
On January "A, 1909, Samuel II.
BENSON, Sr., then member Of city
Council from the Seventh Ward. now
President of Council. submitted a
communication TO Council from S.
Redmond Smith. offering TO the city
500 shares Of the capital stock Of tho
Wilmington Terminal Company. Tor
$4,000.
To say that the mombcrs of the
then Council were surprised would be
putting Il mildly. They were simply
amazed al the proposition a portion
of the land Of the terminal company
was acquired by Legislation and "a
ask the city 70 buy something that In
reality should belong TO it was What
astounded the Councilmen.
Mr.. smith stated in the letter tina
the company had issued 5000 sharc'
of stock and he personally onere'
600 shares Of It to the Council. III
said he would be willing tc taxi
bonds Of the city. payable hiu .ear
hence. in payment for the shares
smith said he estimated there woui
be 800 acres of land when filled IN
and on a basis Of s25 a foot front TO
the land. the property. ACCORDING
, Mr.. smith. some day would he N'--'
. S1,500.OO0 =,
The propcrty Of tho company, Nj
4 smith said. consisted OF tnrce-Qua
= tors of "a mile. on 600 feet. along n
"a river front and $50 feet Ia depth. I
rother with riparian rights 10 and b
h yohd- INC Buikifeal' INV q. tiftyiishcs 4
Nj tho War Department.
81 Nj. Smith said at that time, th
allowing for the construction
streets. the property is susceptible
division into building blocks, s
hundred by two hundred aud ff
feet. and will give three hundrf
feet of building fronts for each acr
exclusive OF streets.
| II can readily be seen, critics OF u
exploitation plan say how Naluah
this riparian owner considered u
ot land his company possessed SIM
m then the company's holdings nav
TX been increased largely.
/, After the members Of Council 8
"a over their amazement somebody mo
H. ed that the communication be 7
he ceiyed and filed. THAT was carried
AZ On the following meeting nigf
January o. a resolution was oneri
and on motion of John J. McGover
III then member Of Council from q
a Eleventh ward. it was adopted
RS was as follows
MI Whereas. A proposition has he'
submitted TO this Council by 5. no
~ mond Smith rendering am interest
~ the Wilmington Terminal Compal
~ which controls part Of the Dclawa
/" River front opposite the city Of W
mington, and
Whereas. The River Front Coz
mittee of the Board of Trade, IN co
b. junction with a like committee frt
o. this Council. have for "A year or mo
rs been investigating this questic
therefore be H.
S. Resolved. That this Council exte
as 10 the River Front Committee Of
Board of Trade an invitation 10 a
IT. pear before It on Thursday evenil
~ January 2S. 1909, for the purpose
NJ explaining fully TO this Council
y results Of their investigation"
a. The only thing that was done wi
~ the matter at the meeting on Jau
. airy 2S was when William Lyol
member Of Council from the Min
- ward. presented a communication a
a report from the joint committee
the Board Of Trade and City Cou
ell. IN reference to the river fro
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