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OL. X—NO. 16
$3,000,000 TO RE-fiNANCE LAKE LIRE
PROPOSITION OF CHIMNEY
ROCK MOUNTAINS, INC.,
TENTATIVELY APPROVED
Loan to Be Made By Flint & Co.—To Spend
§BOO,OOO to Complete Permanent Im
pr'ovement On Development
MAY CLOSE THE DEAL IN 30 DAYS
Application for a $3,000,000 loan !
y the Chimney Rock Mountains/,
Inc., to refinance the Lake Lure;
u operties has been tentatively ap- j
proved by Flint and Company, of;
N'ew York City, it was announced j
in New York January 18, by J. Henry |
Smith, an official of the Flint con-i
cern, according to a special dispatch'
t . The Asheville Times.
Consummation of the refinancing'
roject is now awaiting the consent J
, t' the big creditors of the old com
any to details of the plan. Mr.
Smith said. The application has been ;
uvorably considered, he announced, j
-Provided, that after paying the'
resent first mortgage indebtedness
.nd all creditors under SIOO,OOO, the
ivmaining creditors accept junior!
-'curities, enabling the company to j
establish a working capital of SBOO,- (
•'•00 to complete the permanent im-j
provements on the property." -
Expect Agreement Shortly
When the large interests have ac-j
tvpted the plan under consideration, \
it was stated, full details will be fur- J
nished all creditors. The loan when j
made, Mr. Smith said, will be secured j
by a first mortgage on the property \
the company and protected by life !
insurance on the lives of the direc-)
tors of the corporation, under a plan
to be handled by M. C. Salassa, of
Charlotte, of the New York Life In
surance company.
All efforts are being made, Mr.
Smith revealed, to bring the large
creditors in agreement, and it is be
lieved that negotiations in the deal
may be consummated within thirty
days.
Properties of the Chimney Rock
Mountains, Inc., include approximate
ly 15 square miles of rugged and
i>cautiful lands around Chimney
Rock mountain, on state highway No.
20, the seacoast-to-mountains trail.
The property includes the lovely val-
Jey in which Lake Lure, a vast and
magnificent expanse of water cover
ing some 1,500 acres has been creat
ed.
Plant in Operation
Lake Lure, the largest body of
water in this section of the country,
was created by the erection of an
enormous dam, 104 feet high and
574 feet long, at Tumbling Shoals.
The lake has a shore line of nearly
30 miles. Machinery has been in
stalled and hydro-electric power is '
generated at the falls.
Marvelous Scenery, Climate
In developing this site which is
noted for its marvelous and varied
scenery and for its delightful cli
mate, Chimney Rock Mountains, Inc.,
has erected a splendid hotel and a
large administration building on the
'ake shore. Building lots have been I
sold and a number of handosme res
. i
flences have been erected. The de- j
elopment of the property calls for j
many miles of paved road, water,
electric lights and sewerage system.
Numerous lots have been sold in
Luremont, the townsite of the de
velopment.
Lake Lure was first conceived by
lh\ L. P». Morse, president of Chim
'icy Rock Mountains, Inc. Twenty
V-'ars ago Dr. Morse bought Chim
■!"y Rock, built a road to its base,
and by various improvements made
r possible for the world to enjoy
the scenic splendors and beauties
the region. The result of these
iilans and dreams is being realized
!l the fuller development of the Lake
•• ire district.
1 he Lake Lure development is one
the show places in the western
NOl tli Carolina region. Throngs of
•isitors from every part of America
;,v e visited the site.
• ;t ' ( * president and director of sales
FOREST CM: COURIER
PUBLISHED IN THE INTEREST OF FOREST * AND RUTHERFORD COUNTY
for Chimney Rock Mountains, Inc.,:
has been in New York for several j
weeks, for conferences in connection
with the pending deal.
Dr. L. B. Morse, president of Chim- j
ney Rock Mountains, Inc., who first j
conceived the idea of the vast Lake j
Lure development in the vicinity of j
the Chimney Rock mountain, declin- j
ed to comment for publication upon ;
the dispatches received by the Ashe- j
ville Times from its New \ ovk cor- j
respondent. ]
When seen by a reporter for The j
Courier Saturday morning, Mr. J. H. j
Thomas, local magnate who has been j
a leader in the Lake Lure develop- j
ment, said that, in so far as he j
knew, the above article was true and ,
[he was sanguine of the conclusion j
'of the big- deal within thirty days.}
! The consummation of the deal means j
[much to Rutherford county, home of
i the greatest development enterprise
;in the entire South. It means that
; the body of local capitalists, who
j have given so freely of their money,
| time and talent to the development
[ of Lake Lure, will see the fruition of 1
i their fondest dreams —the completion
lof the building and development j
; program, which was temporarily
halted in 1927 by a shortage of im- j
mediate funds with which to carry j
on the mammoth project. The above !
plan provides for the immediate j
establishment of a working capital
of $800,000.00 to complete the per-1
manent improvements on the prop-.
erty, and will be the means of bring-1
ing many thousands of tourists, home |
seekers and investors to Lake Lure j
this coming season; also the expen-l
diture of large sums "of money in!
developing property will prove of in- f
calculable benefit to the whole coun-1
ty at Builders, contractors, j
store-keepers, farmers —in fact ev-|
eryone, will benefit from the putting |
into circulation of the large sums \
to be spent in improvements on the j
property. Aside from the added value
of every new building erected to the
assessed tax valuation of the county,
the awakened hum of developments
will redound to the county &t large
and cause a general awakening of the
lethargic conditions prevailing in real
estate and business circles during the j
short term of stagnation pending the I
successful conclusion of the deal for I
more funds to complete permanent j
improvements at Lake Lure.
Dr. L. B. Morse, J. H. Thomas, K.
S. Tanner, B. B. Doggett and other j
capitalists of Rutherford county, have i
made a magnificent fight in bring-1
ing to a successful conclusion
realization of their dreams in fin
ally placing the mammoth Lake Lure
project upon a permanent basis from
which there is no doubt of the com
plete success of the undertaking.
With the completion of the pending
deal for an added $3,000,000.00 the
going ahead with the program of
finishing all permanent improvements
and the establishing of the greatest
mountain resort in the entire South
! right here in our own beloved Ruth
' erford county is made a reality be
' yong the shadow of a doubt.
With the acquisition of the new
j capital, nothing remains to be done
j except go right ahead with work at
, Lake Lure until all plans are finish
ed and the resort stands out as com
; plcte.
I
Miss Kathrinc Markland, of Er
, win, Tenn., has been the attractive
! guest of Miss Mary King Harrill.
Miss Markland yvas voted the pret
! tiest girl in Erwin, Tenn., in a con
': test held there a short time ago.
Born, to Mr. and Mrs. S. E. Hardin,
, ; of Harrill street, a 7 1-2 pound son,
?lLeo Von, Saturday night.
FOREST CITY. NORTH CAROLINA JAN» £ £ 26. 1928 *
/ 'C
TREATING WHEAT FOR SMUT
j ;~^
.♦ • •' " '
More than 175 bushels of seed
vheat were treated with copper car-
Donate against smut this past fall
? or twenty local farmers by the vo
:ational agricultural students of the
Ellenboro school. The work was done
it the school in connection with their
:ourse in agriculture; and at a cost
if three cents per bushel.
They were taught to use at least
;wo ounces of the copper carbonate
;o each bushel of grain, and then to
ihurn in barrel until all grains were
coated with the blue dust. Instruc
;ions were also given to perform the
CONVERSE GLEE
CLUB COMING
FEBRUARY 6
Will Appear at High School'
Auditorium Under Aus- j
pices of Kiwanis Club
i
Converse Glee Club will make its
first appearance in Rutherford \
County, February 6, at the Highj
School Auditorium, Forest City. The;
Kiwanis Club is making preparation !
to give them a cordial welcome. The I
president of the club appointed the j
following committee: Advertising, I
Howard Doggett, C. E. Alcock, and D. \
H. Sutton; Transportation and en- j
tertainment, C. Z. Flack, E. O. Thom- j
as and Marshall Giles; Ticket sale j
and stage arrangement, J. W. Eaks, j
A. C. Finch, and C. C. Erwin.
The above named committees will j
try to see that the beautiful and,
talented girls from Converse College
will be well entertained. Converse •
has been noted a long time for its
high standing in the college world, \
It was one of the first institutions in ]
the South to be accredited by The ,
Southern Association of Colleges and ,
Secondary Schools. Also it was one :
in the front ranks to be accredited !
by the American Association of Col
leges. This is the greatest honor which
could be bestowed on a college. The ;
college has a splendid music depart- ;
ment and a good program is assured. .
The Kiwanis Club has sponsored i
every good cause which it has been ;
called upon to do. The club has never ,
received any aid from any of the
(projects which it has sponsored. The'
use of the hall and the equipment
has been freely and generously of-j
fered to all worthy organizations.
|At this time all organizations, cor
i porations, etc., are urged to put their
I shoulders to the wheel and help the
! Kiwanis Club get a full auditorium
for this performance. For the first
I time the Kiwanis Club will be ben
efitted in a financial way, should the
I gate receipts be larger than the guar
i antee. Think this proposition thru
(and hear the best musical program
, of the year.
| The general admission will be 25
i and 50 cents. Reserved seats 75c. All
j students in the county schools will
:be admitted on the same basis as
I the Forest City school boys and girls.
Schools desiring to take advantage
■ of this opportunity for their schools
, may get tickets at the high school
building, Forest City, or the County
Superintendent's office, Rutherford
ton.
!
' A select assortment of net and
; organdy collar and cuff sets, 50e
1 complete. Stahl's 5 and 10c Store.
operation in the open air and not to
inhale very much of the poisonous
dust.
The bai-rel used in treating the
wheat was prepared by the students
in the school shop and was on dis
play at the Rutherford County Fair
in the Ellofnboro Vocational Agri
cultural booth.
Copper carbonate is the new dry
treatment for smut in wheat and has
many advantages over the bluestone
and the formaldehyde methods de
spite the fact that the latter two
are just as effective in controlling
smut.
SUNDAY SCHOOL
ASSOCIATION IS
ORGANIZED
1 Sunday. Schools, of- the Sandy !
Run Association Organ
ize ,
; .!
A note of progress was sounded j
j when on Sunday afternoon, January i
i 22, representatives from the churches
of the Sandy Run Association met
iin the First Baptist church of For
! est City to consider organizing the
j association for Sunday School work.
I The meeting was called to order by
f Rev. W. C. Lynch, who conducted
jthe devotional exercise and explained
j the purpose of the meeting. The'
' principal speaker for the afternoon j
! was Mr. G. G. Page, superintendent l
1 of the Kings Mountain Sunday school, j
j who explained the plan of organi
• zation. He discussed the why and
' how of the organization in a very
' forceful way, and closed with the
' question, "Do you want such an or
fganization?" After remarks from sev
| ° #
• eral pastors and superintendents, a
1 motion was made that we enter into
i such an organization. Prof. A. C.
\ Lovelace was elected temporary
' chairman and Rev. W. C. Lynch tem
porary secretary, A motion was made
that a committee be appointed to j
recommend officers for the associa- ■
jtion. The following committee was!
appointed: Rev. W. C. Lynch, Dr. W.
!A. Ayers, Rev. C. C. Matheny, Fred
' Horton, G. C. Harrill and B. B.
1 Smart. The committee retired for
' consultation after which they sub
, mitted the following report: Associa
tional superintendent, G. C. ftarrill,
j Caroleen; secretary-treasurer, Mrs.
{ A. C. Lovelace, Caroleen; group sup
erintendent, No. 1, Clay Blanton,
Mount Olivet; No. 2, J. U. Rollins,
Sandy Run; No. 3, A. I. Jolley,
Mount Pleasant (C.) ; No. 4, Bryan
Lancaster, Sandy Springs; No. 5,
W. L. Hiclcs, High Shoals; No. 6,
Prof. A. C. Lovelace, Caroleen; No.
7, Mrs. F-. H. Walker, Southern; No.
! 8, C. J. Flack, Forest City First Bap
tist. The report of the committee
was accepted and the above named
; officers were elected.
!
j Mr. G. C. Harrill took the chair
! as chairman of the meeting, and dis
j cussed the question of continuing our
j Associational worker, explaining that
'the Sundav School Board had dis-
I
continued its half of the salary, hence
{the worker was being discontinued,
| unless* some plans could be worked
' D ut whereby the Association could
: m'pport the worker. After a brief
I discussion. Dr. W. A. Ayers made
1 a motion that the Associational of
>' ficers which had just been elected
.' serve as a committee to work out
jFOREST CITY ENJOYING
A STEADY GROWTH
DURING WINTER SEASON
.
, Building Permits Totalling Over $62,000.00
Issued By City Clerk in Past
Few Months
i
! OUTLOOK BRIGHT FOR YEAR 1928
Building- permits totaling $62,350 :
were issued from the office of the
City Clerk of Forest City during the |
last six months, according to a state-j
ment made Monday by City Clerk J.
E. Caldwell.
I
The concensus of opinion every
where is that real estate business is
more or less in a "slump." Yet, when
the building permits in the Mayor's
office is examined one must admit
that someone is radically wrong in
their opinion. Just a few days ago
a permit for a new SIO,OOO residence
was issued, and following closely on
this were three more permits for erec
tion of structures in Forest City
costing from $3,000 to 85,000. A
total of twenty-nine permits for con
struction of new been
issued during the past six months,
which means twenty-nine new homes
and business houses for Forest City
which adds to the assessed tax valu
ation of Forest City and Rutherford
county to the amount of more than
$62,000. Forest City has at least
twenty-nine new homes and build
| ings more than at the same time
[July Ist.
i While it is true that real estate
I sales in Forest City have slumped
for the past few months, measured
by the bustling activity of a ,few
[years ago, it will be seen that there
j has been a steady construction of
i new homes and business houses in
the city. Forest City is strategically
located in the center of a progress
ive and rich county. With the open
ing of the spring, it is thought by
many that the city will again hit
a steady stride in building op
erations that will surprise by the rap
idity of its growth.
Below we give a few of the new
! homes and business houses erected
I here in the past few months:
j Mr. G. C. King has erected and
moved into a handsome new two
story residence in the Wilkie de
velopment.
!' Miss Sue Collins has finished con
struction of a handsome bungalow
|of Spanish type in Wilkie Develop
ment, which has been sold to Mr.
Harry Grigg.
i Mr. Claude McDaniel has complet
ed and is now occupying a new brick
residence in Wilkie Development.
Mr. Grady Jones has completed a
] new residence in Wilkie Development
DEATH OF MRS. MARY GOGGANS j
I I
Mrs. Mary Goggans, mother of |
Miss Katherine Goggans of Forest [
City, died at her home in Asheville {
Monday. She was 70 years old. Fun- J
eral services were held at Biltmore
I Tuesday.
■ Surviving Mrs. Goggans, are tnree .
j daughters, Mrs. W. C. Greenwood,!
'SO Ravenscroft road, with whom she
| made her home; Mrs. J. H. Parks,
[of Charlotte, and Miss Katherine
Goggans of Forest City.
' Mrs. Goggans was the widow of
the late Capt. D. P. Goggans, of
Laurens, S. C., and was before her
marriage, Miss Mary Anderson, of (
Laurens. She was a member of one of j
\ the oldest and best known South Car- >
' olina families, and in addition to her
I relatives leaves a wide circle of
t
j friends in the two Carolinas.
IT IS COMING—Watch this paper
for further announcement.
I
. plans in connection with the execu-
J
1 tive committee, and submit such
j plans at the next regular meeting
• of this organization. The motion car-
I ried. An offering was taken to de
frav the expenses of Mr. Page. Alex-
I * 1
• ander selected as the next piace
meeting, the body adjourned.
12 Pages
72 COLUMNS
SI.OO Per Year in Advance
and sold it to Mr. R. C. Alexander.
Mr. DeWitt Harrill has under con
struction a handsome bungalow ir?
Wilkie Development.
Mr. T. E. Byrd is finishing a new
residence in Wilkie Development.
Mr. J. A. Wilkie has taken the
contract for the erection of a hand
some brick residence for Dr. W. P.
Hall in the Wilkie Development.
Mr. F. F. Black has broken ground
for the erection of a handsome seven
room brick residence in the Wilkie
Development.
Mr. Vic Davis is constructing a
new brick residence on Arlington St.
Davis & Weathers have completed
a brick bungalow on Arlington St.,
which has been sold to Mr. W. W.
Moss.
Mr. J. B. Taber has completed and
is now occupying a handsome new
seven-room bungalow on Arlington
street.
Mr. D. F. Beachboard has occupied
his handsome new home on East
Main street.
Mr. Geo. Dalton has completed a
handsome new brick residence on
Carolina avenue. . -
Mr. M. J. Harrill has completed a
new brick bungalow on Broadway
[ and has under construction another
of same type on the same street.
Wilkins & Petty have completed
a new bungalow on Broadway and
sold it to Mr. Ernest Magness.
; Huntley & Wilkins have just com
| pleted a modern three-story brick
; business house on Main street at a
cost of from $25,000 to $30,000.
Dr. F. R. Wilkins has just about
' completed a handsome new apart
; ment house on Main street.
Mr. J. W. Smith recently complet
led a new brick apartment house on
King street at a cost of about $20,-
000.
It will most likely prove that we
have overlooked many new residences
in our hasty summary of building op
erations here in the city this winter.
With the advent of fine spring weath
. er, Forest City is sure to take on re
newed activity in building operations,
and it is also predicted that real es
tate sales will resume a healthy re
vival.
Forest City is enjoying a steady
I growth, owing to its splendid central
| location and the strong faith of its
[citizens in its promising future.
BASKETBALL
i
•
{ The Forest City All-Stars will play
[the B. V. D. Makers, of Erlanger, N.
| C., here on Thursday (tomorrow) at
1 8 o'clock. This team has won many
basketball honors in central Carolina
this year and a good jrame will re
! suit here.
« »
! On Saturday evening, February 4,
the Spindale Athletic Club will play
the big game of the year when
they meet the Furman University
All-Stars, of Greenville, on the
Spindale court.
I MRS. THOMAS PRICE DEAD
t Mrs. Thomas Price,
died at her home on Hinton's Creek,
Cleveland County, Sunday after a
lingering illness of heart trouble.
Funeral and interment was at
Big Springs Baptist church, Monday
afternoon, with her pastor, Rev.
Gordon Washburn, in charge.
She is survived by her husband,
one son William Swink, and one
daughter, Mrs. George Price and fif
teen grand-children. Three brothers
also survive, Joe, Berry and Jake
; Swink, all of Cleveland county.
The Swinks formerly lived in up
per Cane Creek and Golden \ alley
sections of Rutherford county.