Cincinnati capitalists purchased land to bring factories to Muncie, Hemingray listed

BENEFIT OF A SYNDICATE.

The city of Muncie is now beginning to reap the benefit of having a syndicate purchase land near there last season. A number of Cincinnati and other capitalists bought a large tract of land two miles south of the city. They then went to work securing factories. They gave the Hemingray glass works $10,000 in cash and free land gas. They gave the Ball glass works $7,500 cash and free land and gas. They gave the Pulp factory and Rubber works each large bonus. All these factories are situated at least two miles south of the city.

The syndicate has now gone to work and laid off about 570 acres of land into town lots, had a finely engraved map of the addition made and placed the lots on the market. The area covered by these lots and factories is larger than that of the city of Muncie proper, but the lots will soon be covered with houses, the corporation limits of the city extended, and the town will be twice as large as it was a short time ago.

The Muncie board of Trade has never been recognized in all this work. Neither it nor the people of Muncie contributed one cent to any of these bonuses. It was all done by the syndicate. Each man selling land to the syndicate reserved a fair size portion and sold the remainder at reasonable figures. The result is, everybody connected with or interested in the affair has made money.

These are the plan facts in the case and while land owners about Anderson were selling on options or holding their land at prices beyond all reason thus driving capital away, Muncie and Marion are securing great benefits – Anderson Bulletin.