Charlotte Observer
Eighty-two acres of land on the Mt. Holly road, adjoining the site of the former Wizard automobile plant, was sold yesterday by E. J. James, owner, to the Asheville Realty company, of which Baxter Shemwell is president.
The deed of conveyance was filed at the courthouse yesterday afternoon and recorded the price paid for the land as $5,000 and other considerations.
Some months ago the North Carolina secretary of state granted a charter to the Rapidometer Manufacturing company, a Charlotte corporation, in which Mr. Shemwell was named as an incorporator and in which the purpose of the charter was given as that of manufacturing rapidometers, a new type of calculating machine.
It has been understood that the new company was to use the old Wizard plant as a manufacturing site.
From page 4 of the Concord Daily Tribune, Sept. 4, 1926
newspapers.digitalnc.org/lccn/sn92073201/1926-09-04/ed-1/seq-4/
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