After the failed first Spalding subdivision, it was brought back to life as Spaulding Tract, The story of the inserted “u” for another time. In 1924, this time around, the Spalding family with a new subdivision on the west shore of Eagle Lake, hired real estate developers to promote it. This gave birth to the Eagle Lake Cabin Site Company.
Promote they did. These folks were shrewd, and knew first hand the local residents were not their market, because they knew there was nothing there to get excited about or invest in. The Eagle Lake Cabin Site Company produced a brochure to entice folks primarily in Southern California of this hidden gem, more spectacular than Lake Tahoe. To lure people to buy lots, as an enticement was the proposed grand hotel to be built, similar to the famed El Tovar Inn at the Grand Canyon.
The lots initially sold for $50 each. When the company began selling lots in the spring of 1925, they were confident that the entire tract of 5,964 lots would be sold out in six months. While they did not reach that goal, they did sell over 3,000 lots.
In 1926 sales dramatically taped off. This was due in part of the new lot owners when came to inspect Spaulding Tract. First they encountered poor roads and when they finally arrived there were not any visible signs that gave the slightest hint the place was a resort community. So digusted many of the lot owners refused to pay property tax for a non-existant resort community. Thus, the Eagle Lake Cabin Site Company faded into oblivion.