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November 1, 1962
MEMORANDUM
TO: Ivan Allen, Jr.
FROM: W. F. Floyd, Jr.
SUBJECT: Peyton Forrest Area
Last night I had a telephone call from a neighbor of mine who
lives on Oriole Drive commenting about a meeting that was held
Saturday night somewhere in the Peyton Forrest Area, According
to the information furnished me there were some twenty-five
property owners present.
The purpose of this meeting was to discuss some lots held by Jim
Bennett, who is a realtor operating in the southwest section.
Bennett had been offered $45,000 for these lots by some colored
real estate operators, Bennett is represented by Cecil Turner,
and according to the information given me Turner urged the property
owners to get together funds sufficient to buy these lots at the
$45,000 price or he would encourage Bennett to sell to the colored
realtors,
Further it is my understanding George Wilson offered to pay $30,000
for these lots and give Bennett an option to buy these back at the
expiration of twelve months (I am not positive about this time),
at a profit of $500.00 per lot. It is my understanding that Turner
was not interested in listening to such a price.
The property owners in this area do not have the type of money that
would enable them to get together sufficient funds to buy these lots
at the $45,000 figure. If these lots go for colored, then the area
is open for further sales to colored people,
I am sure that there must be another side to the story, but I wanted
to pass the information on to you that had been given to me because I
know you have been actively working on a program that would set up
a "buffer" in this location,