| Show FATE OF A BOOM TOWN it urine about throw for evera dollar In the boom town of fort payne ala where millions were invested by new england capitalists was sold under the hammer the other day to E N cul lorn a birmingham capitalist for the small sum of says the st louis republic the purchase includes SO acres of mineral lands 2000 town lots and various large industries including rolling mills furnaces factories hotels and the like in july 1802 the entire property of the fort payne coal iron company was placed by order of the united states court in the hands of a receiver upon the petition of A L loyles and others of new england these were afterward joined by the old colony trust company of boston trustee who asked for foreclosure of a mortgage for the receivership though hotly contested in the baited states courts by other new england stockholders was sustained fort payne was the first attempt of organized now england capital to found a city in the south and it has proved a flat failure after several all lions have been the town was built to order in the fall of 1889 W P rice and associates of boston floated shares of fort payne coal iron company chock in vermont maine new hampshire massachusetts chu rhode island connecticut and new york city at per share of realizing a clean which was taken in a lump to fort payne afterward shares of stock reserved in the treasury were sold at 37 ncr share ahli soon wont and n t with bonds |
