PRESIDENT OF EDUCATIONAL INSTITUTION AND GROUP OF PROFESSORS INTERESTED IN FORMA TION OF INTELLECTUAL COLONY ACCEPT INVITA TION AND WILL VISIT EUSTIS FOR PURPOSE OF IN VESTING HERE The first contingent of college pro fessors who have accepted the invita tion issued by Dr. Edgar J. Banks, of the recently organized firm of Banks, Gautier and Walker, who will launch an intellectual colony of citizens near Eustis, is expected to arrive early in May, according to a letter received by Dr. Banks Thursday from a prom inent educator of Tennessee, who will head a delegation of investors who are coming to Eustis for the pur pose of making investments and se lection of domestics. Favorable replies ,are being daily received by Dr. Banks as a result of a large number of personal letters written to friends in other states, in viting them to come to Eustis to in vestigate conditions here, and in at least one instance, funds have been sent with which to purchase residen tial property in the city, leaving the matter of selection of sites to the judgment of Dr. Banks. Harry Ferran recently purchased four lots in the Banks subdivision overlooking Lake Gracie. Before leaving for his home in Atlanta, Dr. Alexander Stirling purchased a lot and anounced his intention to build a winter home in Eustis and make his permanent home here after he re tires from active practice, which he expects to do at an early date. A total of eight lots have been sold in the original allotment, according to Dr. Banks.