The Dawson news. (Dawson, Ga.) 1889-current, 1923-04-24
HARVEST FOR SHARKS
At MUSSEL SHOALS
LAND SPECTATORS REPORT
ED MAKING AS HIGH AS 5000
PER CENT PROFIT.
SUCKERS FROM DISTANCE
Unimproved Acreage Miles From De-
velopment Bought Up Cheap and
Held at Fancy Prices. Side of a
Mountain Has Been Sold.

FLORENCE, Ala. - There ar e
many wrinkles in the land deals at
Mussel Shoals-wrinkles which are
fooling the unwary, and enabling land
spectators to take their money.
Profits as high as 5000 per cent
are buying land far from any present
are buying land far from any present
improvement possibilities at between
$225 and $3.50 an acre, sub dividing it
into building lots eight or nine to
the acre, and selling it at $1,000 per
lot.
There is a great deal of really val
liable property at Mussel Shoals. but
there is also some held at highly in
flated valuations, being passed on to
1.-THE unsuspecting public at skyscraper
prices. The odd thing about it is that
the bad land is being sold afar off-in
Chicago, New York, San Francisco,
Detroit or Baltimore, while in south
ern cities close to the Shoals unex-
ceptionable land is being disposed Of
at reasonable prices.
Government Probing Operations.
known to be looking into the opera
tions of two or three large "syndi-
Gates" and several of the realty deal
ers being thus Investigated have been
here recently, giving orders for i'm
provements," with rush" marked on
them, to get something done by the
time the investigation comes to a
head
The chief mode of misrepresenta-
ton being made in regard to Mussel
Shoals land is its distance from the
main plant gate. Proximity to Wilson
dam itself is of comparatively little
value, for when the work on the NAM
moth structure is finished only 800 to
400 men will be employed on it as
dynamo tenders, electricians, etc. The
main source of work is expected to
be at nitrate plant No. 2, mammoth
industrial development which will
give thousands jobs. This plant was
so laid out that all roads to it con-
verged at a certain point about mid
way between Florence and Sheffield,
and there went through the main
plant gate"
Nearby Land Valuable.
Real estate experts consider that
property at this main plant gate will
be very valuable, as will all that with
in the city limits of Florence, Shelf
field and Tuscumbia, the tri-cities
clustered at the base of Mussel Shoals.
But land which is several miles away
from the main plant gate and the
cities has remote chance of develop
ment and is not worth the prices be-
ing paid for it now.
Thousands of acres three and four
miles from either the towns or the
main plant gate were purchased from
the original owners at from $225 to
top price of $3.50 per acre. This land
has not been improved up until last
week. when struggling efforts were
made. 1t was cut into eight to nine
lots per acre and is being sold in the
large cities at terrific prices-$l000 a
lot being a price commonly received,
a price which is out of all reason.
Sold Side of Mountain.
One real estate man bought the side
of a mountain, which could not be
surveyed and sold it at good prices
to gullibes in San Francisco.
There is plenty of excellent proper
ty in the city limits of Florence, Shelf
field and Tuscumbia, and near the
main plant gate, to make it unneces-
sary for such remote town develop
ments" at $1,000 per lot, or 5000
per cent profit for the real estate
plunger,
Several firms have already been
barred by the Illinois Real Estate
commission from selling their Mussel
Shoals property; nearly three dozen
suits have been brought in Georgia
against land sharks, and action in
New York state and by federal au-
thorities against the property is ex-
pected.