James, Chattanooga’s first millionaire, along with two well-known friends, Franklin Harris and F.J. Bennett organized the Mission Ridge Land Company after purchasing a large tract of land which included what is now known as Third Avenue on the West, extending some half-way up Missionary Ridge on the east and 28th Street on the north and 36th on the south. The tract on what is now known as Dodds Avenue, between 32nd Street and 34th Street was given to the Richmond Spinning Company and south of that tract was given to Charles L. Milburn and William James Bass, who founded Wilburn-Bass Wagon Company later known as the Chattanooga Wagon Company in 1896. James was the original builder of the James Building in Chattanooga and also the builder of a hotel on Signal Mountain. A lake was built at the foot of Missionary Ridge, west slope, to promote a part outside of Chattanooga as some type of a resort for people of Chattanooga to visit and be entertained. James decided after the beautiful lake was built to give it a name and he decided that since the lake was east of the city, to call it East Lake and this is how the community received its name, East Lake. This was the beginning of a wonderful community. East Lake began to grow as a community built around two outstanding manufacturers, The Richmond Spinning Company, located at 34th Street and Dodds Avenue and the Wilburn-Bass Wagon Company and the East Lake Park. East Lake was annexed to the city in 1925.
