Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-11-29
WEST POINT, AGAIN.
NOW AND WHY MAuRY's GREAT PORT
IS PROGRESSING
a Forcible Argument-Who VIII Get
tho Plum "A City a FIXED
ract--Finances.
wrsr porvr. November q, 1890.

How is the West Point boon" getting
on /? asked prominent citizen. We have
no booms here except those on board OF
the vessels, he replied, and we don't want
any such impression 10 get abroad. West
Points progress is not, he added, on the
principle OF the cat that jumped up two
feet in the we'll and fell back three. This
Is the nearest approximation to joke L
have heard here. so in earnest are the peo-
pie.
No. resumed my friend. you can see for
yourself how West Point IS forging ahead.
aud that its prospects and future are such
that no one who invests here Will DO dis
appointed. WOE.
Interested in advancing the interests OF
West point do not promise an investor q
million minute in week and a winter
residence in Cuba but give him credit for
having rs much common-sense as they
have and are satisfied for him 10 look over
the field for himself, knowing as they do
that such course will convince him that
to put money here is bound TO yield
him large returns.
NOT oAMr or CHANCE.
Yet West Point is or boom" If we
do not use the word in its perverted sense,
but in the sense that values are advancing,
and il is bound 10 extend rapidly its
limits and increase its population. The
men that are booming 1t !" are not play--
ing game Of chance and are not confined
10 a few local spectators, as the su oscrip-
tons 10 the stock of the Terminal improve
ment Company viii show. The basis of
investment is fortified by the best of busi-
ness judgment The investor IS not put
ting his money into an air-castle with the
hope that something Will turn up 70 make
-. Us.la NanfN .
with the certainty Of ro0plng big interest.
This is what the West Point people would
impress upon the businessmen of Rich
mond especially. The stock of the Ter
minal Improvement Company is beng
taken all over the State and at the North,
but West Point would rather bind Rich
mond closer 10 It than any other city,
knowing that such contamination would
be for the best interests OF both places. and
for Richmond 10 throw away the chance OF
building up West Point would be TO throw
away the certainty of securinga large trade,
not only from the town itself, but from all
tbs surrounding section Of country.
RAW MATERIAL.
A vast deal of raw material comes down
both the Pamunkey and the MattapOnl.
going directly North. which could he readl-
ly and most adyantageOusly manufactured
at West Point. AS a consequence OF this
direct trade many of the supplies for the
country on these rivers come from the
North-supplies which could be furnished
by Richmond wholesale merchants. As |
have stated, the manufacturing sites set
apart 10y the Terminal Improvement
Company are not only especially adapted
for such purposes, but the policy OF
the company in dealing with those
who will locate industrial plants here will
be most liberal They will, / repeat, not
only grant free sites, but subscribe 20 per
cent of the capital necessary to place
these manufactures on sold-paylng
basis. The weekly payroll OF west Point
il not only already very large, but much OF
the money paid out goes directly or indi-
rectly to Richmond If the raw material
have referred 10 shall be stopped here
for manufacture, az 1t seems assured 1t
will, Just in proportion as Richmond IN
creases her interest in West Point Will she
increase her trade here.
WITH FORCE.
The people Of West Point argue, and
argue with force that nature has given
Richmond port in West Point-that the
Danville system is aiding Richmond IN
making this its deep-water terminus-and
that if Richmond does not pluck the plum
of trade thus ready to drop into her
mouth from West Point and her environ
ments. Baltimore will. They acknowledge
the great extent of their dependence, upon
Richmond, but they see that the law OF
reciprocity may change the current OF
things.
AFIxEDFACT.
But whether Richmond or Baltimore
gets the plum il is fixed fact-a fact
that cannot be repeated too often-that
West Point is going TO be q city and q
manufacturing city at that and that IN
vestment here is going TO pay. The grow
ing tonnage of the Terminal system, the
extending reputation of the port for safety
and freedom from ice, the demand Tor
skilled labor for the factories, means more
population. Population attracts popuia-
ton. More population means moro stores,
more dwellings. more churches, more
schools. to make West Point a centre for
the agricultural community of the con
figuous country. 1t means less room IN
the old part of the town and extension into
the Terminal Improvement Company's adj
dition.
THE WAY TO LOOK AT IT.
That is the way to look at it. IL should
be remembered that the climate of West
Point is mild in winter and that the place
partakes in summer OF the nature OF
seaside resort. IL has pure air, pure water,
an abundance of fish and oysters, and vege-
tables can be had for the raising. 1t is q
place al which the workingman AS we'll as
as the employer will desire to build, buy, OF
rent a good home and locate permanently.
What this should suggest to capitalists. on
even TO men of moderate means, Is mol
difficult to Understandable fact, what 1t Is
suggesting already TO theseis demonstrated
by the rapidity with which the stock OF
the Terminal Improvement Company II
being taken up.
A GREAT CONSIDERATION.
One great consideration in connection
with West Point is that everything III the
way of building can be done on a cheaI
but at the same time solid and substantial
scale. West Point has four miles of rive
frontage with ample water TO hoat TN
largest vessels, and the channel Is so nea
the shore that there is no necessity 70
expensive pile-driving and long piers. Ih
addition OF the Terminal improvement
Company to the town is on level plateau
some twenty feet above the old part OF tn
town, with Just sufficient fall towards bot
the Pamunky and the Mattaponi to facill
tate the construction of asewerage system
ct very small cost. No blasting OF. cost
leveling Is necessary to secure foundation:
and lumber and brick are right Mt hano
BY the way, a clay has been discovered o
the river-front of the property that ha
been pronounced superior article Oh hre
clay.
FINANCIAL. AGAIN.
As has been set forth, the financial pla
of the company is liberal. but few MOI
figures regarding 1t may be interestin:
The purchaser of one share OF stock
500 par-gets a lot in the addition an
still has his stock, which will have .pu
chasing power Of $500 at the sale of n
served lots OF the company. Even putin
mis- lot at the ridiculously low value of S1I
ne has 300 per cent. profit as medium {
further investment. Every subscriber
ten shares gets ten lots in the addition an
one lot in the cid town, which latter at II
lowest figure would not be worth less tina
$3.50. Thus he has ten lots worth 81
81 900. one lot worth $3.50. and $4,000
stock for investment. These figures mu
tiply in the ratio of the increase of pu
chase Of stock.
But there is still further factor 10
considered in regard 70 the lots in the add
ton. The Improvements that have bee
mapped out and will be carried out by "a
company will constantly increase the Walt
of these lots. II will therefore be see
that even If one does not desire TO ava
himself Of the purchasing power of h
stock he will be safe and at the same tin