Cincinnati newspapers comment on investments in Muncie

[Newspaper]

Publication: The Muncie Daily News

Muncie, IN, United States
p. 1, col. 3 - 4


MUNCIE.


THE HUMMING TOWN

OF INDIANA.


The Objective Point of

Wide Awake Investors.


Cincinnati Papers Howling

Over Muncie's Success,


Because Their Capitalists

are Bringing Away the

Gold


To the Greatest Natural

Gas Town in Indiana

or Ohio.


This City Alive With

Hustling, Bustling, Men

of Energy and Cash.


Some Points About the Deals

and Dealers Terse Facts

About the Growth of our

Town.


Cincinnati's Howl.

 

There is no attempt at a rustling boom in real estate, but Cincinnati is getting on very well. * * * There is now a healthy stir, and it will increase in energy, and last much longer than the real estate fury that is raging at some points. Cin. Com. Gazette.

Well established manufactories, with cool headed managers, are not hasty to pull up stakes and locate in a new place that happens to be in the midst of a local and temporary boom. In making a change there are many things to take into consideration cost of labor and supplies, advantages or disadvantages as to shipping facilities, the advantages of having business offices at a great trade center, &c. If mere cheapness of fuel were the only desideratum, the place for a manufactory would be at the mouth of a coal mine, wherever that might be located. Natural gas in immense quantities has been blowing away into the air among the forest hills of Eastern Kentucky without attracting attention, causing a rush of industry to the region and starting a wild real estate speculation. Cin. Com. Gazette.

Both of these articles appeared in yesterday's Commercial Gazette, but never so keenly realized their force and their inspiration until this afternoon. When an editor says that natural gas is of no advantage to manufacturers one strongly suspects that his reason and plan have been divorced. But so it is the green eyed envy that has put to reason under the influence of passion. The roaring flames of natural gas are attracting more interest than the smoky Queen City and the Porkopolis editor is consumed with envy and fear. A dozen gentlemen arrived from Cincinnati and Dayton this morning, a score more came this afternoon. It is little wonder that the old Cincinnati fossil feels a little badly when he sees the incessant bigers of her capitalists to the gas fields of Indiana and Ohio.

 

Paper Mills.

 

Col. Dan E. Meade, of Dayton, who is now largely interested in Muncie real estate, has sent to Cincinnati a general outline of the paper mill which he proposes to erect west of the town, and plans and specifications are being made which will be placed in the contractor's hands as soon as possible. We have no figures as to the dimensions and magnitude of the factory , but we are assured that it will be the largest mill of the kind in Indiana. The mill will be located south of Beech Grove cemetery.

The Mansfield, O., Paper Company closed a contract for the land that is to be the site of their paper mill. The chosen place is on the Jackson street pike near the Mock brick yard.

 

A Small Business Block.

 

Last night James Boyce contracted with D. C. Mitchell to erect a brick building on the vacant lot corner of Main and Mulberry streets. Said building is to have six rooms, be 96 feet front and 24 feet deep, one story in height, with plate glass windows, neat furnishings, and all to be ready for use by Saturday evening. It will require expeditious management on the part of Mr. Mitchell, the contractor, and that he may finish in time a great deal of work will be done at night by the aid of one of the large natural gas torches which burns on the corner. To plan, contract for, and have ready to occupy, a brick business block of six rooms, all in five days, is a feat that is very seldom attempted.

The town is growing so fast that we must have rooms, and we may now expect to see buildings spring up in the night while we are sleeping. Rental for the new rooms will be offered at auction, and disposed of to the highest bidder.

 

An Improvement Scheme.

 

The first big improvement scheme which is being put in operation was made public yesterday. Mr. Miller, a civil engineer of Greenville, Ohio, is surveying a road which will commence on Walnut street, south of the Anthony home, near the site of the old toll gate, and run direct east, intersecting the Burlington road at a point on the Walling tract. The road will be perfectly straight, seventy feet wide and has been named Ohmer Avenue. This with attending streets will open large tracts of recently purchased suburban property.

 

Bus Line Changes Hands.

 

M. S. Smith, who has for so long owned the Muncie Omnibus Line, has sold the same to Messrs. Miller & Bobo, of Hartford City. Mr. Miller well known in Muncie and will keep the business up to its former excellence. The purchase included all the omnibuses, hacks, horses, and privileges enjoyed by Mr. Smith. Mr. Smith will remain in Muncie, and we understand that he is considering the propriety of starting a cab line.

 

Sale of the Galliher Farm.

 

One of the largest purchases that has yet been made in suburban real estate was that of the Galliher farm. The sale, which has been on the table for several days, was consummated yesterday. The purchase was made by a Mr. Tuttle, a factor of a Cincinnati syndicate. We understand that the price was over 100,000. Three weeks ago this price would have been considered enormous, but so great has been the transformation that the purchasers are being congratulated. The tract will be surveyed, platted, improved with streets, and be placed on the market.

 

The Post Office Building.

 

The post office building, including the quarter block, part of which it occupies, has been sold to Messrs. Harry and Chas. Meade, sons of Col. Meade., of Dayton. The purchase includes several excellent buildings, the rentals for which will make the boys excellent interest on their investments.

 

Mr. Boyce Purchases.

 

Mr. Boyce has purchased of Mr. Volney Wilson, his entire farm, situated just east of the city across the river. The consideration was $27,000. Mr. Boyce has also purchased part of the John Meeker farm, located just south of the Wilson farm. For this he paid $6,100.

These two tracts of land are so located that they are peculiarly valuable. The Wilson piece is bounded on the north by the L. E. & W. railway, and the Meeker tract has the Bee Line on the south. While others are talking of Belt Railways and long switches to enhance the values of their properties, Mr. Boyce's land is adjoining two great trunk lines, and a few short switches will put a siding in the back doors of as many factories as may choose to locate there.

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Keywords:Hemingray
Researcher notes: 
Supplemental information: 
Researcher:Bob Stahr / Roger Lucas
Date completed:June 1, 2010 by: Glenn Drummond;