Rensselaer Republican, Volume 25, Number 4, Rensselaer, Jasper County, 22 September 1892 — MADE A SMALL FORTUNE [ARTICLE]

MADE A SMALL FORTUNE

HOW TWO SCHOOL TEACHES ptD 1T- !*• Hundred Oothm Orer* '<> Tw otao Thuueand Within a Year. (Marion. Indiana, Chronioie.J - There are two elaters teaehlng ia the Marion public schools who have reason to thank the rapid development of one •of Chicago's manufacturing suburbs for a shi-jH "fortune which has grown from * very tiny seed planted less than a year ago. To a representative of the Chronicle these young laities told too story of their remarkable investment as follows: “At the close of our school work a year ago we found that wo had saved 'about SIOO each, for which wo had no immediate use. We were spending our vacation in Chicago, urd; stepped into the Chamber of Commerce Building to sec Jay Lwiggins A Co., whom wo Karl long known. They weio just then founding tho new town cf Griffith, whose fas! oil pi pc lines and four grtai railroads, inoluoing a: complotc._belt. - line cncirc ling gave—great piomise of making this a factory center. "Wc were inclined to make nn investment tn the new town and"> oiis«nud to joirrthem in the inirciiaso of a fve-acte block which they wished to subdivide with some other tracts and put immediately on the rnaikot. Our sufficed to make the cash payment for onethird interest in this live acres and wt expected to meet tho de/pned payments from our wag»» the following year. “After ranking this invcitment we went further on our vacation trip, and what was our surprise a few wevk* later to receive word that the five aares had been bought, subdivided, and completely sold out. Three parties had taken tho entire block at a profit of. almost- ■ $6.1'00, one-third of -which wo Warned was nt ot;r disposal. “So far we had not even seen Griffith, but this ror.iarkably quick turn of a:lairs gave us ». great interest in the new town, and we went immediately to look it over. Wc found, nine miles southeast of Chicago limits, a remarkable railroad junction, but little more than that. There ‘were perhaps a doson houses scattered about In the oak groves and occupied by railroad employes. There-were no stores, no street*, jlo sidewalks,- po a bright fufore. Tlin surveyors wore just putting down the lot stakes. Wo found our block in the very center ot the town frontage—on what promised so be the best business street. Tho lots had been sold out st the ridiculously low average of $l3O each.

W<- remarked that wo would rather ouy iha:i seif at these figure. Tlifs quick sale, oven at a low price, had given us tho capital with which to buy. Wu immediately selected Block 11 in the Original Town of Griffllh, and bought it with the profits wo had just tuado. We left Griffith, saying: •Well, w. elial'. see what a year will bring forth in this promising place.' “Wo have just now returned from Griffith- after a year's absence. W« found four factories completed and many more negotiating to come. "Houses we going up on every hand, and streets which had not boon cut out when we wore there a year ago, are now lined with prosperous stores. Our block, if sold at present prices, Would realize r.l*o.ut $12,000, but wo would not take $25,000 for it. If it wore similarly located in Marion, It would bring $50,uoo. “We have seen Marlon grow up from a country town Into a nourishing young city, by ths location of factories, and Marion has but three railroads and has not the great sfty of Chicago to Lio to. “Wo eont deftly expect within tlie next live years to see Grlitlth a great nnd flourishing eity, and that will be time enough to realize on our beautiful block ot lots. Since we bought our relatives have made further purchases and have made money, too. We certainly believe that Griffith lots bought at present prices and on tho very easy terms at which they can be hud will prove a quickly paying investment. *