Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-03-01
THE S0UTHWE i
THE PROGRESS MADE BY THE
CITY OF ROANOKE.
PUBLIC CONFIDENCE IN THE FUTURE
What slr. r. y. Grnsty the Correspond
ent OF the Manufacturers Record
Has TO Say About tho Entcrprising
Magic City.

Mr. r. p. Grasty, the live and ener-
getic correspondent of the Manufac-
turers' Record, has the following in
teresting letter from this city:
1.-THE many new enterprises now
under way. the many more certainly
assured, ut Roanoke, Va, and the
movements of certain capitalists close
ly connected with the Norfolk and
Western Railroad company, have
caused for some months past the most
uniiagging and healthy activity that
could be desired; and, it is safe to say,
no Western city has ever made such
strides in SO short time, in proper
tion to population, Chicago not ex-
cepted, as this booming new city of
Roanoke is now making and will keep
on making for many months and years
to come.
Since the citizens voted a few days
ago subscription Of 100000, which
was all that remained necessary to in
sure he completion of the Roanoke
and Southern railroad to Winston, n.
c., public confidence in the future of
this place has gone beyond the most
sanguine expectations INDUCED in
by Roanoke's warmest friends, even q
few months previously. And now
that it is beginning to be realized that
the place is to be not only Il phenom-
email Industrial success, but great
distributing point, there are men of
good Judgment who believe that ten
years from now Roanoke will be the
largest city in Virginia.
1.-THE center of the city is moving to
the westward. The Norfolk and West
ern railroad are about TO move their
freight handling sidings and switches
a considerable distance west of the
passenger station. understand that
bridges are to be built over this area,
so that neither passing trains nor the
daily switching back and forth of
thousands of cars, will interfere with
business. This will be calculated to
extend the business section where
neither pedestrians nor vehicles will
be endangered.
During the past week great rush
has been made for residence lots fur
ther west than anybody but such men
as James S. Simmons, the king of the
clan Of real-estate operators, believed
would he available for a dozen years
to come. Simmons, however, not only
believed. but showed his faith by his
works and with his money. He in
vested and persuaded others to invest
to the westward. He built himself n
costly residence which was out in the
country when the foundations were
laid some months ago, but which will
be surrounded by dozens of Others in
a few months more.
"a company was organized here
only yesterday to purchase some sew
enty acres of land that has hitherto
been reserved by the owner, land while
sat chatting with a friend, the stock
was all eagerly taken. 1t will be above
par by the time this gets into print.
and in view of the inevitable growth
of Roanoke in the direction of high,
dry, healthy ground, the chances are
it will, when sui. divided into lots,
bring five Or six dollars for one on the
investment. If l mistake not, this
new land company is based upon
purchase of the Norman property.
Home money stands ready at Ro
anoke to go into any meritorious en-
terprise close to Roanoke. Thus Roam
oke people make an argument more
answerable than the most eloquent of
talk in favor of the stability of Roam
oke investments. The strangers no
sooner see home money backing home
enterprises than they want a few
shares themselves. The success of
Buena Vista is largely due to this
same influence. l could, however,
name some towns in Virginia where
home people are eloquent enough try
ing to induce outsiders to invest in
schemes that they haven't dime of
their own money in.
Another good thing that | observe
about the way Roanoke enterprises
are inaugurated, is close-to-shore CAPT
talization. There is generally no
more capital stock than the property
represented is worth at the outset
and share of stock worth it's face
value at the start is certainly more
respectable piece of paper than one
worth only one-tenth of what it pur-
ports to be-"