FLORIDA LAND BOOM.
ITS COLLAPSE REPORTED. MILLIONS MADE AND LOST. New York, Aug. 20. A telegram from Jacksonville says two important announcements were made, indicating the bursting of the Florida land boom, wherein millions wore made and lost. First a Federal authority stated that 42 persons had been indicted charged with using tho mails for the purpose of defrauding men in tho sale of Florida lands, wherefrom sev eral millions were realised and worthless tracts foisted upon the purchasers. Several arrests have been made. Post Office inspectors spent a year in investigating the conditions involved in tho promotion of the towns of Fulford and Arcadia Gardens. Second, two wealthy American fami> lies, promoters of the defunct Floranda colony, designed for tho exclusive use of affluent Americans and members of European royalty agreed to remimburse stock holders from their private fortunes following the collapse of the project, entailing losses estimated in excess of 30,000.000 dollars. —(A. and N.Z.)
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Bibliographic details
Hawke's Bay Tribune, Volume XVI, Issue 210, 23 August 1926, Page 5
Word Count
157FLORIDA LAND BOOM. Hawke's Bay Tribune, Volume XVI, Issue 210, 23 August 1926, Page 5
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