3/23/1892: The Contract Signed

From GenealogyBank; Daily Journal and Journal and Tribune: 3/23/1892, Knoxville, Tennessee, Volume VIII, Issue 27, Page 1.

ContractSigned

THE CONTRACT SIGNED.

*****

Big Lenoir City Enterprise Now as Assured Fact.

*****

Col. Sanford Attaches His Name to the Paper Which Assures Its Erection–The Details.
*****

The contract was yesterday officially signed by Col. E. J. Sanford, by which fifty acres of valuable land at Lenoir city was conveyed to the Crosby manufacturing company, composed of Michigan capitalists.

The contract stipulates that the company shall erect a saw mill plant which shall be able to cut 40,000,000 feet of lumber per year and during each year for the next five cut 35,000,000 feet at least. The land upon which the plant is to built lies along the river bank and during the erection of the big mill, a smaller saw mill now at Lenoir City will be used by the new company.

Mr. J. S. Crosby is a gentleman whose fame is well known in the lumber districts of Michigan, his home being at Greeneville in that state. Not only as a lumber man is he known but he enjoys a good reputation also as a stock man.

The following taken from a JOURNAL of recent date gives more of the company’s plans:

“Mr. Crosby recently purchased at a cost of a half million dollars from the Belden Land company forty-seven thousand acres of timber land in Graham county, North Carolina. Down the tributaries to and on the Little Tennessee to Lenoir City, logs from these immense forests will be floated, and there converted into the desired shapes.

Mr. C. H. Stanton who has been connected in business with Mr. Crosby for some time, will in all probability, be the general manager of the business. The syndicate will also have an office in Knoxville. The plant will employ at least two hundred workmen.

Mr. F. J. Hall, who is also from Greenville, Mich., Mr. Crosby’s home, will within a month’s time commence the erection of an immense structure in which to manufacture steam engines and sawmill apparatus and supplies. With him as an individual Mr. Crosby will be associated in this venture.

Mr. Stanton also, individually, has the control of the timber supply of 3,700 acres of timber land owned by the Lenoir City company, which he will convert into furniture and dispose of.”

The construction of booms at Lenoir City has already been commenced.

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