[Trade Journal]
Publication: Crockery & Glass Journal
New York, NY, United States
vol. 58, no. 5, p. 18, col. 2
Trenton.
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Frederic A. Duggan, the porcelain manufacturer, is the principal financial figure in a project to erect a $250,000 hotel at Spring Lake, N. J., a summer resort along the Atlantic. Mr. Duggan has agreed to take a first mortgage on the property to secure an issue of $125,000 in gold bonds. The other $125,000 has been subscribed by the stockholders. Prior to the tender of Mr. Duggan's offer, numerous attempts to interest New York and Philadelphia capital in the proposition had failed.
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