December 13, 1949 Newspaper Article (likely the Oxford Ledger)
Better Oxford, Inc. Set Up to Facilitate Purchase
Hunt Estate Lands Would be Transferred to Town of Oxford at Original Purchase Price--Matter Comes to Vote Today
If voters today approve the purchase of the Hunt estate lands at a cost of $100,000, the property will be acquired from the present owners at no profit to the stockholders or officers of Better Oxford, Inc.
At the time the Hunt property was offered for sale here at public auction, a number of local citizens, interested in seeing the property retained in a single tract for public use, negotiated with representatives of the Hunt estate and entered into a contract to buy at a cost of $100,000.
The contract as made with the stipulation that the land would be offered to the citizens of Oxford at the original cost. However, a deal that large required taxpayer approval before it could be consummated. That is the purpose of today's election.
Before the Hunt heirs could pass title to the land, some agency or firm or corporation had to be formed to take the title. That corporation was formed under the name of Better Oxford, Inc. The corporation paid $30,000 to each of the Hunt heirs with provision for payment of the balance in one and two years If the $100,000 bond issue is approved, the town would accept the further obligation.
Failure of the voters of Oxford to approve the $100,000 bond issue proposal would leave the corporation, Better Oxford, Inc. free to dispose of the property in any manner the officers and directors desire. They will not profit in any manner from their efforts to make the property available to the citizens of Oxford.
R. M. Ray is president of Better Oxford, Inc., A. H. A. Williams is vice president and A. L. Taylor is secretary and treasurer. The directors of the corporation are the officers and W. T. Yancey, Dr. S. M. Carrington, F. W. Hancock, Jr., R. M. Ray, Jr.,
J. Y Crews, and Harry Foreman.
The stockholders are E. G. Crews, Bob Ray, Dr. W. L. Taylor, S. J. Watkins, Dr. W. L. Taylor, S. J. Watkins, Dr. S. M. Carrington, T. C. Jordan, Jr., Frank Hancock, Andrew Jamieson, R. M. Ray, W. T. Yancey, Dr. W. N. Thomas, J. F. Harris,
D. T. Currin, J. J. Gooch, R. P. Cunningham, Mrs. J. R. Wood, J. A. Watkins, Mrs. W. H. Walters, Robert A. Crews,
A. H. Powell, Dr. R. W. Taylor, S. H. Fox, Dr. Ballard Norwood, Harry Foreman, J. E. Pittard, A. H. A. Williams,
B. S. Royster, Jr., Dr. L. S. Daniel, Dr. S. J. Finch, A. L. Taylor, C. H. Brewer, Miss Leola McKee, John B. Mayes, Jr.,
J. W. Horner, George D. Morton, A. D. Capehart, Barnes J. Williams, G. H. Watkins, C. E. Coble, R. R. Herring, W. H. Pryor,
J. N. Watkins, Jr., S. M. Cutts, J. L. Parrish, J. J. Medford, O. B. Breedlove, Mr. and Mrs. J. Y. Crews, B. P. Elliott, Dr. Roy L. Noblin, John P. Reams, Oxford Public Ledger.
Better Oxford, Inc. Set Up to Facilitate Purchase
Hunt Estate Lands Would be Transferred to Town of Oxford at Original Purchase Price--Matter Comes to Vote Today
If voters today approve the purchase of the Hunt estate lands at a cost of $100,000, the property will be acquired from the present owners at no profit to the stockholders or officers of Better Oxford, Inc.
At the time the Hunt property was offered for sale here at public auction, a number of local citizens, interested in seeing the property retained in a single tract for public use, negotiated with representatives of the Hunt estate and entered into a contract to buy at a cost of $100,000.
The contract as made with the stipulation that the land would be offered to the citizens of Oxford at the original cost. However, a deal that large required taxpayer approval before it could be consummated. That is the purpose of today's election.
Before the Hunt heirs could pass title to the land, some agency or firm or corporation had to be formed to take the title. That corporation was formed under the name of Better Oxford, Inc. The corporation paid $30,000 to each of the Hunt heirs with provision for payment of the balance in one and two years If the $100,000 bond issue is approved, the town would accept the further obligation.
Failure of the voters of Oxford to approve the $100,000 bond issue proposal would leave the corporation, Better Oxford, Inc. free to dispose of the property in any manner the officers and directors desire. They will not profit in any manner from their efforts to make the property available to the citizens of Oxford.
R. M. Ray is president of Better Oxford, Inc., A. H. A. Williams is vice president and A. L. Taylor is secretary and treasurer. The directors of the corporation are the officers and W. T. Yancey, Dr. S. M. Carrington, F. W. Hancock, Jr., R. M. Ray, Jr.,
J. Y Crews, and Harry Foreman.
The stockholders are E. G. Crews, Bob Ray, Dr. W. L. Taylor, S. J. Watkins, Dr. W. L. Taylor, S. J. Watkins, Dr. S. M. Carrington, T. C. Jordan, Jr., Frank Hancock, Andrew Jamieson, R. M. Ray, W. T. Yancey, Dr. W. N. Thomas, J. F. Harris,
D. T. Currin, J. J. Gooch, R. P. Cunningham, Mrs. J. R. Wood, J. A. Watkins, Mrs. W. H. Walters, Robert A. Crews,
A. H. Powell, Dr. R. W. Taylor, S. H. Fox, Dr. Ballard Norwood, Harry Foreman, J. E. Pittard, A. H. A. Williams,
B. S. Royster, Jr., Dr. L. S. Daniel, Dr. S. J. Finch, A. L. Taylor, C. H. Brewer, Miss Leola McKee, John B. Mayes, Jr.,
J. W. Horner, George D. Morton, A. D. Capehart, Barnes J. Williams, G. H. Watkins, C. E. Coble, R. R. Herring, W. H. Pryor,
J. N. Watkins, Jr., S. M. Cutts, J. L. Parrish, J. J. Medford, O. B. Breedlove, Mr. and Mrs. J. Y. Crews, B. P. Elliott, Dr. Roy L. Noblin, John P. Reams, Oxford Public Ledger.