The coastland times. [volume] (Mnateo [i.e. Manteo], N.C.) 1947-1959, 1952-05-09
LAND
Continued from Page One)

quarter million dollars OWING y!
the property, along with take:
and other obligations.
} 1t was Mr.. Maloof's firm belize
that the property had great posi-
, bilities for development, and sucl
development would easily include
farming, stock-raising, hunting
, fishing and manufacturing.
He has spent his entire time fol
eight years, seeking avenue:
through which to expand the prop
erty.
For some years the Federal Gov
eminent has been interested in II
as a proposed national wilderness
because of its intense appeal te
tourists and hunters. But funds
were not available for its purchase
The sale of the property might
have been affected long ago, but
Mr.. Maloof out of his altruistiC
nature has desired to see it devel-
oped and conserved. He declined
numerous offers for the property.
Dare COunty'S Santa Claus
While there were many Difficult
ties and land squabbles in the
early days of the lumber company
operations, with the natives, this
great 10000 acres has always
been a Santa Claus to the people
of Dare County as a whole.
For many years during the more
poverty stricken days of Dare
County it paid from one-fifth to
one-third of the county taxes, and
back in the days of county opera
lions of schools, its taxes were a
godsend to the teachers, and usual
ly came in in time to enable them
to get their first check by Christ
uas. Twenty five years ago, peop-
lie were lax about paying taxes,
employees were poorly paid, and all
departments Of the county some
times poorly operated.
AS the years rolled on this prop
erty which once constituted third
of all the taxable wealth of Dare
County shrunk in proportion as
other sections of the county devel-
oped. Today, the property is valued
for taxes at $65O,000 and pays
about $1,000 a year, something
more than one-twentieth Of the
taxes collected in Dare, coming
largely from beach lands consider
ed worth far less than the wilder
ness lands of the John Gray Blount
patent.
In many respects the natives
profited from the property. A con-
siderable cutting of timber went
on through the years, particularly
the appropriation of net stakes by
the fishermen of the area, or others
interested in supplying the fisher
men.
Its vast game and fur resources
have been exploited without re-
strictions, and trappers having ac-
cess to the land have been able
to earn as much as $1,000 in a
season from the sale of fur.
Many guides and others cater
ing to the needs of transient sports
men have earned a good income
through the seasons.
Continuously throughout the
years, the income from logging OPP
erations on the property have been
the economic mainstay of the East
Lake area.
Naturally it will continue to be
looked upon as something from
which further benefits and pleas
ures will come.
The dreams of Mr.. Maloof have
been nearly ten years materializ-
ing, and his efforts should prove
of great value to all concerned in
this area in years to come.
A staff of lawyers is busy now
checking the title, and announce
ment of full plans of the buyer
has not been made. Hints are that
considerable work in ditching and
drainage and further development
will be made. The buyers plan to
buy the corporation stock, and liq-
uidate the Company, taking the
title in their own name.
Upon learning of the transac-
ton, Congressman Herbert C. Bon
ner, who represents the district
which includes Dare. County, said
he was. pleased to welcome the new
owner, which is one of the leading
pulp and paper companies in the
country. at is most desirable, /"
Congressman Bonner stated, ITO
have large industries with the nec-
essary capital become interested in
the conservation, protection and de-
velopment of such areas. / am de-
lighted to learn that Mr.. Maloof
was successful in interesting 9
major company in the potential
ties of Dare County,"
Mr.. Maloof, who. acquired the
stock Of the Dare Corporation in
1912, stated, For me this is the
realization of dream / have nour-
Iiahod oi,ooa fs,..A COO, &ha .Nror,o,.