In previous episodes, we revealed little about Harry Higel, one of early Sarasota’s foremost citizens. He was mayor when Sarasota was incorporated as a city in 1913. He constantly fought for progress including being first to plat Siesta Key in 1907. On January 7, 1921, he was found brutally beaten and left to die in the middle of Beach Road. A reward of $1,000 was offered for evidence to convict. Although a suspect was identified, the evidence was circumstantial and the reward was never claimed.
On May 1, 1925, an eight page newspaper size advertisement entitled “Sarasota on the Gulf” was published and widely distributed. It stated, “Fortunes have been made overnight in Sarasota” and included articles to prove it. “Jim Bishop, a fisherman, sold a lot on Longboat Key for $30,000 and retired.” “Senator Park Trammell made a profit of over $10,000 on an initial investment of $750. Widows who had been land poor bought player pianos. Dozens of Similar articles appeared.
During the month of October 1925 real estate sales in Sarasota exceeded 11 million dollars.
Starting in 1923, John Ringling employed three huge dredges to make solid land of mangrove islands creating St. Armand’s, Lido and the southern end of Longboat Key. Sewer and water lines were installed, canals were dredged and roads were built. A causeway that cost $750,000 was built to connect the area with the mainland. The day that the causeway opened, February 7, 1026, Ringling Estates reported real estate sales exceeding one million dollars.
In 1925, Dr. Fred Albee purchased 2,916 acres south of Sarasota from the Palmer Real Estate Sales Group. He employed John Nolan, a respected city planner to design a city to be called Venice, a model city that would attract the elite.
The Brotherhood of Locomotive Engineers (BLE) built the Cooperative National Bank of Cleveland, Ohio to increase pensions for their members. Profits grew by a million dollars per month and they sought property in Florida for an investment.
Based upon the fact that the Seaboard Airline Railway accessed the area, and that it fronted on the Gulf of Mexico, the BLE decided to buy Dr. Albee’s holdings in 1925. They retained John Nolan and planned to build Venice, the ‘Queen of the Gulf’ in a period of three years. Retirees would buy farms complete with a house built and crops planted.
The BLE spent $500,000 per month developing the property. There were sidewalks, gutters, storm sewers, six miles of graded streets, a new train station and an operating water plant. There was a 40 acre demonstration farm, a 160 acre dairy farm, 188 residences, 141 apartment units and 83 stores.
In the summer of 1927 a BLE audit committee discovered that the project had lost $3.4 million by June 30 and projected that if the remaining property were sold at the same price-to-expense ratio, more losses would be incurred. Four top officers of the BLE were removed and it was voted to get out of Venice as quickly as possible.
(To Be Continued)..
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