A deal which is believed to be the first step in a large development project in East Durham was closed on Tuesday evening when officials of the Chatham Lumber company of East Durham, one of the oldest establishments in the county, was bought by J.F. Taylor, representing the Gulf Refining company of which he is local agent.
The Chatham Lumber company property in East Durham comprises about eight acres of some of the best situated railroad siding property near the city. Approximately $30,000 was involved in the deal, which was handled by E.A. Hughes of this city.
Just what is to be done with the property obtained by Mr. Taylor has not been announced, but in that he is local representative of the Gulf Refining company is significant that the nationally known corporation has some definite plans on foot to be carried out in this city.
It is believed that special efforts have been made recently by various large companies to get the Chatham Lumber company property, but it was not until Tuesday evening that Samuel Hunt, W.T. Hunt and Mr. McKinney, principals in the company, agreed to sell.
In the sale, the entire lumber company plant and properties is included. The eight acres is located on the sides of several railroads, making it especially desirable.
From page 2 of the Durham Morning Herald, Jan. 16, 1924
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