HOUSING: New Boom in Florida

The most heavily traded stock on the American Stock Exchange last week belonged to a company that few Wall Streeters had heard of until recently: General Development Corp., whose shares went from twelve to 17¢ in the past month. General Development, pioneering a new kind of land boom in Florida, is building and selling houses at a price that retired oldsters on social security can afford.

What gave the stock its bounce was a new project at Port Charlotte, a strip of Florida's west coast, 130 miles south of St. Petersburg. There,...

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