This third and final post on a land valuation survey taken in 1930 Williamson WV turned out to be longer than I expected! So just use your CTRL F and Search for whichever name brought you to this blog.
I've kept the line widths from the original type-written document, so you'll see some end-of-the-line word breaks that are unusual these days. I noticed that the author made his lines shorter, when he didn't have much to say about a person.
Qualifications of S. P. Goodman
Mr. S. P. Goodman, Cashier of the Williamson State Bank,
an Officer of the Depositor's Building Company, and a stock-
holder in the Coffey Land Company, of which his father, A. Good-
man is officially Secretary, said that he actually acted as
Secretary of the Coffey Land Company, thus relieving his father
of the duties incumbent upon that office. Mr. Goodman is about
40 years old and has been in and around Williamson practically
all his life, although the family home was maintained in Cleve-
land until about 12 years ago.
In commenting on the sale Hays Pickleshimer, Receiver, to
Ammar, Mr. Goodman stated that they had offered $65,000.00 and
thought they had the property bought at that figure. He stated
that it was true that the Day & Night Bank had expended around
$21,000.00 for fixtures, including a time clock vault, but said
that these fixtures were almost a total loss to any business ex-
cept a bank. He considered the property worth from $90,000.00
to $100,000.00 at that time.
He also stated relative to the value of the carrier's yard
area, that if it had been available for residential and other
development during the period from 1920 to 1926, it would have been
worth, in his opinion, between $15,000.00 and $20,000.00 per acre
to a development company, in bulk, for subdivision purposes.
[Mr. Goodman used a green ink pen to fill out his survey, and
he was probably lefthanded.]
Qualifications of Mark Russell
Mr. Mark Russell is a business man and apart-
ment house owner. He is about 55 or 60 years of age, and
at present operates a drugstore, a seed and feed store,
owns and manages a large apartment house and a four-story
brick building at the corner of Pick and 4th Streets. Mr.
Russell is an "old-timer" in Williamson and well acquaint-
ed with general and local conditions. He was interested
in the Williamson Ice, Cold Storage Company during 1919 and
1920.
[According to Refrigerating World of July 1921, this is
Mark H. Russell and the business name was Williamson
Ice and Cold Storage Company.]
Qualifications of S. H. Goodloe, Jr.
Mr. S. H. Goodloe, Jr., was formerly an Officer of
and one of the moving spirits of the Wilhelmina Colleries Com-
pany. This company operated a mine in the hill back of what is
now Morningside Addition, having their tipple in Block "C",
where the Carrier now has a section house, and having run way
back under the Sycamore -- now Morningside Addition. The Collier-
ies Company got into financial difficulties, necessitating the
appointment of a receiver in the person of Mr. C. B. Early,
Cashier of the National Bank of Commerce, who was also a stock-
holder in the company. Some time elapsed before the company
got on its financial feet again, and when it did so, it changed
its corporate name to the Morningside Land Sompany [sic].
Mr. Goodloe stated that he sold $63,000.00 worth of lots
at private sale one day, in 1923.
Mr. Goodloe stated that this addition had been seriously
hampered by the failure of the city authorities to live up to
their promise, made eight years ago and frequently renewed, to
furnish city water and sewer service to the addition. This has
materially affected the success of the addition, according to
Mr. Goodloe; being, in fact, the entire trouble. When this prom-
ise is fulfilled, the success of the addition is assured, and
lots will sell at from $750.00 to $1000.00 per lot.
He stated there was some talk of an auction about a year
ago, certain lots to be put up at $500.00 each, but nothing came
of it.
Regarding the sale by C. B. Early, as receiver, to the N. &
W. Railway Company of 8 acres at the extreme eastern end of the
addition, Mr. Goodloe said this sold awfully cheap. They had
to have cash to get out of receivership, and sold this property
for about half of its actual worth at that time.
------------------------------------
Note:--
I learned that Mr. Goodloe has lost practically his entire
fortune during the last two years, the climax to his financial
misfortune occurring just prior to this interview, when he lost
his home. According to his brother, Mr. "Jack" Goodloe, he is
so "Soured" on the world that everything is "no good" to him, and
his view is now so distorted that he can see good in nothing.
In this interview this is apparent, as his replies to the questions
tend to be very pessimistic, and are not in accord with the replies
of the majority of other well-informed men interviewed.
[The name "S. H. Goodloe" is also attached to the Pond Creek By Product
Coal Co. in Williamson. The Kentucky Digital Library site describes some of its
historical records, saying,
"S.H. Goodloe of Williamson, West Virginia, was an executive in the Wilhelmina Coal Company, later the Goodell Coal Company and the Goodloe Brothers Company. Goodloe, along with his brother-in-law Senator Goodykoontz, was interested in leasing lands for coal mining operations near Ivel, in Floyd County, Kentucky south of Prestonsburg. These lands were jointly owned by the John C.C. Mayo Estate and the Walter S. Harkins, Sr. Estate. Included in the file is correspondence between the parties about leasing and development, a copy of a contract to accept and execute a lease within thirty days, and copies of the actual leases between the Mayo and Harkins Estates and S.H. Goodloe. Complications arose, however, with the deeds and combining the tracts of land together. Then a proposed railroad connection was halted because of World War I and the lease agreement fell apart. After the war, these same tracts, renamed Camp Branch Coal Lands, proved to be of developmental interest."]
http://kdl.kyvl.org/catalog/xt70zp3vt865/guide
Qualifications of John Strosnider
Mr. John Strosnider is a Druggist, having his place
of business about the middle of Block 5, fronting on 2nd
Avenue, between Pike and Logan Streets. He is about 60
years of age. Mr. Strosnider considers himself poorly in-
formed with regard to real estate values in Williamson, ex-
cept in his own half block, and states frankly he is preju-
diced in favor of that block. He is very loyal to his own
neighborhood, which he considers the best in town. He was
much influenced by the fact that when Woolworth located in
Williamson in 1924 they had men studying the situation, and
decided on a location (which he rented then next to his drug-
store) as being the best in town for their business.
------------------------------------
NOTE:-- I am sorry to say that I agree with Mr.
Strosnider in his frank statements that
he was not well-informed regarding real
estate values in Williamston, outside of
his own block.
[Strosnider was a businessman who apparently had an
interest in a coal railway corporation, as well as being
an active participant in local government. Died in 1939.
Strosnider Drug has remained an active business.]
Qualifications of Joseph B. Stratton
Mr. Joseph B. Stratton, Prosecuting Attorney, stated he
had not had much dealing in real estate except the sale of prop-
erty under the order of court, at less than its ordinary market
value. In reference to the Bishop-Day and Night Bank sale, Mr.
Stratton stated that the price was entirely too high, the entire
property only being worth $50,000.00 at that time -- but put nothing
down as an answer. Scratched "fair price" after the other three
sales with apparently no consideration. In his statement regard-
ing the front foot value of 3rd Street frontage of block 5, he
put down $1,000.00 to $2,000.00 per front foot, stating the $20,-
000.00 was to apply to lot 17 -- yet he stated that the entire prop-
erty building and all was only worth $50,000.00. He said he did
not know how to answer questions eleven and twelve.
[Mr. Stratton, a registered Democrat, was also active in Mingo County governance.]
Qualification of J. M. Berman
Mr. J. M. Berman is a merchant, who has a store on 3rd
Street, opposite the Carrier's freight station, in the build-
ing which he bought in 1926 from his brother-in-law, Mr. Shein.
He is about 50 or 55 years of age, and while evidently not a
natural born citizen, is intelligent, talks and speaks good
English, and is considered a good citizen of the town. His sons,
who were present when Mr. Berman was interviewed, are progressive,
well educated business men. Mr. Berman asked that the questions
be read to him and that the Carrier's Representative transcribe
his answer; then asked that the whole be read again; his exact
answers had been set down. When question C of paragraph 7 was read,
Mr. Berman objected to his answer, or that part reading "Ammar
could not buy anything else in block at cheaper price for property"
and asked to have that phrase struck out, as he said he knew he
could not have done so when Ammar bought, as he had tried, mention-
ing two offers, one to Amburgy of $25,000.00 for the property that
Ammar later bought, and another of $25,000.00 for another lot for
which they wanted $35,000.00. The latter had an old frame building
which Berman said he would at once tear down and build a brick.
Of his own purchase, Mr. Berman said he "bought right", meaning, as
I gather from other similar statements, at a cheap price. Mr.
Shein, he stated, was in financial difficulties when this transaction
was made, and had to have money at once to straighten out his affairs.
He said the lot alone was worth $25,000.00 when he bought, and that
lots in this block, even in this period of depression, are
worth from $20,000.00 to $25,000.00 and that the railroad land
across the street was equally valuable. If the latter was
built up he considers it would help their side of the block, but
would be a blow to Second Avenue.
[J. M. BERMAN'S DEPARTMENT STORE COMPANY was incorporated in
1933, and shows as terminated in 1958.]
Qualifications of Dr. Cullen Amburgy
Dr. Cullen Amburgy is a dentist, and has his office on
the second floor of the building on the corner of Pike and
Logan in Block 2. He appears to be about 50 or 55 years of
age, and has been in Williamson for many years. He stated
his sale to Ammar was for $35,000.00, mostly cash, and that
neither party considered the old building, the total value be-
ing in the lot. In answering question 3, he divided $35,000.-
00 by 25 to get the top figure, believe he had $1,000.00 per
front foot in mind as an average. Stated corner lots were worth
$20,000.00 to $30,000.00 gross value, more valuable.
Dr. Cullen Amburgy stated he was almost "out" of property
now, and had rather lost track of values lately. He considered
the recession of value started in 1926, and has continued until
the present value is about 50% of 1926 value. He stated that
Ammar could not buy any property on the 3rd Street side of block
5 at the time he sold for less than the price he asked.
[Dr. Amburgy's name appears to have an alternate spelling
of Amburgey.]
Qualifications of M. T. Persinger
Mr. M. T. Persinger is a gentleman of about 75 years of age. He said
he been a merchant in Williamson for 34 years, having come to the town
when it was just a wide place in the road. His firm, the Persinger Supply
Company, deals in hardware, furniture and mine supplies of various sorts, and
owns several good sized buildings of from two to four stories in height. Mr.
Persinger dealt rather extensively in wholesale property in the immediate vi-
cinity of his store and warehouses, but does not appear to have had very general
contact with real estate in other sections of the city. His business was lo-
cated on 3rd Avenue, next to the corner of 3rd and Logan (lot 18 Block 5) about
15 years ago, and he seems to have retained a conception of the values then
applicable to the exclusion of any later development. He is at present very
pessimistic in his views, due to several related facts; the loss of $34,000.-
00 in a coal mining venture, general and local business conditions, and over-
loaded invoices being a few of these. He considers 1930 values about 50% less
than those applicable in 1925 and 1926.
Mr. Persinger's statements differ radically from all others taken in
Williamson and reflects not the 1920-1926 value levels so much as those exist-
ing prior to 1916, to which period Mr. Persinger continually referred. I do
not believe any weight should be given to Mr. Persinger's statements herein in
this appraisal. For instance, he originally stated lots in Block 5 were worth
$100.00 per front foot, later asking to have this changed to $200.00 per front
foot. An inspection of the comparison sheet on this question reveals that the
majority gave as their opinion $1000.00 per front foot as the average value of
inside lots in this block, while the average of the other 14 witnesses opinion
is $930.00 per front foot.
[Persinger Hardware & Furniture Company took over the Hurst Hardware
Company in 1914, though it may have been more of a merger, as William A.
Hurst became president of the new company, until his death in 1919,
according to http://files.usgwarchives.net/wv/mingo/bios/h623-001.txt .
Apparently, "the old Persinger buildings" still exist on 3rd Avenue,
according to a news clip, dated 4/30/15, that I found on Google:
"WILLIAMSON - The need for water is never fully understood until there is none. The City of Williamson authorized the water to be turned off in the old Persinger buildings located on Third Avenue on Thursday. Unfortunately for the employees of the... "
Unfortunately for us, the accompanying link to the Williamson Daily News
comes up empty.]
Qualifications of D. M. Good
Mr. D. M. Good, City Engineer, Mining
Engineer, and Building Contractor, is a gentle-
man of about 55 or 60 years of age. He has
lived in Williamson 18 years and has been a
Civil Mining Engineer for 37 years. Mr. Good
has a good knowledge of the City of Williamson
from an engineering standpoint, but does not
handle any property to amount to anything, and
his opinions are principally formed on heresay [sic].
Mr. Good seems to have been careful to make no
very definite statements of fact.
[On the next page, an even shorter version reads:]
Mr. D. M. Good, City Engineer, had no actual deal-
ings in real estate near the Norfolk & Western Railway
during 1920-1926, and seems to have depended on hearsay
for his knowledge of values.
[Mr. Good may be best known for supervising the
construction of the "Coal House" in 1933, a publicity
stunt using 65 tons of coal, adjacent to the Mingo
County Courthouse.]
Qualifications and Verbal Statement of Alex Bishop
Mr. Alex Bishop has lived in Williamson about 25 years,
and is well-informed regarding land values. He was a partner
in some deals with Mr. J. W. Peters, among which was the sale
of the land which is now partly laid out as the Sycamore or
Morningside Addition, in 1913. Mr. Bishop said that that sale
had no bearing on values of later years, as that was just at
the real beginning of the growth of the town. He and Mr. Peters
sold the N. & W. a strip of land about a mile long and 100' wide
in about 1913 for $2,000.00 per acre. Mr. Bishop stated Peters
had already contracted to sell this when he got in with him, but
that he did not want it to go, as even then the land was worth
$5,000.00 per acre to lay off in lots. Peters had arranged to
sell the strip to get money to buy an entire tract, prior to his
going in with him, but as the contract had been made, there was
no way to stop it.
Regarding the sale of a half interest in lot 17 Block 5 to
the Day & Night Bank in 1922, Mr. Bishop sketched the history of
the transaction. He stated the lot cost $7,000.00 and the build-
ing cost between $18,000.00 and $20,000.00 to build in 1908. He
and Mrs. Stratton were partners in the property. She moved away
and in spite of having appointed him her agent, sold her interest
to local people who went to her at her place of residence for
$17,500.00, which was very cheap. She had lost track of values,
and did not consult him, just gave away her interest. Conditions
were changing very rapidly, and she had not kept posted. In
1922 the bank people offered him $35,000.00 for his interest, and
he countered with $40,000.00, which was accepted within three
hours.
Mr. Bishop discussed the sale between Shein and Berman with
which he was familiar, and said it was very cheap, and between
brothers-in-law.
In discussing the value of the yard area, Mr. Bishop stated
that if this had not been held by the railroad, the map of Wil-
liamson would have been very different, as he believed there would
have been one main street up the bottom land, and that it would have
all been developed. He estimated the value of the entire yard area
from Williamson Hollow to Sycamore Hollow at a minimum of $15,000.-
00 per acre from 1920 to 1926, and said he would have liked to have had
a chance to subdivide it at that, as he would have made a lot of
money.
Regarding his sale to Fields of lot 25 Block4, Mr. Bishop
stated the consideration was $5,000.00 in 1919, and the property
was vacant. He estimated the value of the lot at $15,000.00 in
1925. He stated he believed Mr. Mounts also got $5,000.00 for the
next lot.
[Google shows me an Alex Bishop as a shareholder in the
Williamson Investment Company, chartered in 1905.
in the West Virginia Corporation Report of Secretary of State,
March 4, 1905 to March 1, 1907,]
[No heading on the next page]
Mr. W. T. Trout lives in Block 59, on Vinson Street.
He has traded extensively in that block and those adja-
cent in Williamson Hollow. He expressed the following
opinion of the average value of lots in that section, us-
ing Block 59 as the average of the section:--
1919--------------------------$1,500.00 each
1920 to 1925-----------------$1750.00 each, average
1926 to 1930-----------------$1,500.00 each, average
Lots were worth an average of $1,500.00 in 1919, an
average of $1,750.00 from 1920 to 1925, then started fall-
ing 'til an average of $1,500.00 would just about hit them
from 1926 to 1930. Mr. Trout stated that as far as he was
concerned, he would make very little difference for cash,
as he wanted the interest.
Qualifications of W. D. Slavin
Mr. W. D. Slavin, a gentleman of about 60
years of age, has lived in Williamson about 20
years. He was President of the Valley Investment
Co., a real estate concern, and in that capacity
was familiar with real estate values in William-
son. Asked as to whether there would have been
any difference in price as between cash and pay-
ments during the period from 1920 to 1926, he
stated, "Would have made very little difference
for cash then."
[It's likely that Mr. Lindsley misspelled this name.
It was probably W. D. Slaven.]
[Carl B. Early, encountered earlier, was Treasurer
of the Valley Investment Company, according to
http://archiver.rootsweb.ancestry.com/th/read/WV-FOOTSTEPS/2000-01/0946838596 .]
Qualifications of Bert Shumate
Mr. Bert Shumate, Court Reporter, bought and
sold property on East Fourth Avenue in East Wil-
liamson during the period between 1920 and 1926,
and was familiar with values and conditions in that
section. He was asked as to whether any difference
in price would have been made as between cash and
payments, and he stated that "little or no difference"
would have been made in price for all cash in the
year 1923.
Qualifications of J. H. Mounts
Mr. J. H. Mounts is a gentleman of about
55 years of age. He is an old resident of Wil-
liamson, having been there 10 or 15 years, and
has dealt extensively in real estate in East
Williamson. He is considered a representative
citizen and well informed as to values in his
section of the city. Mr. Mounts stated orally
to carrier's appraiser that he considered the
yard area worth "treble" the value of the pro-
perty to the north thereof.
Qualifications of C. J. Leroy
Mr. C. J. Leroy is about 50 years of age.
He owns and operates a Dairy Company and owns property
in Williamson. He is well informed as to local
conditions. He has resided in Williamson over ten
years. Mr. Leroy stated that as between all cash and
time payments during 1920 to 1926, the difference would
have been "none".
Qualifications of Jack Goodloe
Mr. Jack Goodloe is a property owner in
Williamson, a stock holder in Wilhelmina Collieries Co.
and the Morningside Land Co., is about 40 years of age.
He has resided in Williamson for 20 years and is well informed
as to local conditions.
Mr. Goodloe stated that cash would have made no
difference, or a very slight difference, in the price of
property between 1920 and 1926, as the sellers ordinarily
wanted this money out on interest.
Qualifications of Harry Schwachter
Mr. Harry Schwachter is a merchant and
property owner. He has been in Williamson about
15 years, and is well informed as to local conditions.
I would judge him to be about 45 years of age.
Mr. Schwachter stated he considered "3rd Avenue
frontage of this block (5) twice as good (as Second
Avenue) at that time - Third Avenue frontage worth
$1,000.00 per front foot".
[Mr. Schwachter appears to have been well-known
in his community. See further
http://forward.com/culture/9773/haven-in-the-hollows/
and is mentioned, with a photo of him, in
Coalfield Jews: An Appalachian History by Deborah R.
Weiner.]
Qualifications of Guy White
Mr. Guy White is about 50 years of age and
is the local Ford dealer. He owns and has bought and
sold considerable property in Williamson. He has
resided there over 15 years. He stated that the
block on Third Avenue between Pike and Logan Streets
was better than the block on Third Avenue between
Logan and Harvey Streets - twice as valuable in 1919.
[Mr. White was active in politics, serving as Treasurer
to the county Republican party Executive Committee
in the early 1920s.]
So ends, finally, the survey of business people in Williamson
West Virginia from 1930.
