Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1891-05-22
FRIDAY MORNING. MAY %. 1891.
AROUND HOME INVESTORS
WANTED,

AROUND HOME INVESTORS
WANTED.
President Ingalls, OF the G. & O., while rid
ing over new Virginia town near Staun-
ton recently, asked ''Where did the capital
come from to do all this % He was told
that it was nearly all Virginia capital and
a great part of it came from Augusta coun-
ty. 'Ah, he replied, "that is good, then
all of the profit will be kept right here
among you.7 1t is this view Of the mat
ter in which we urge our. Augusta county
people to be large buyers at the Staun-
ton sale on June ID. The profits on the
lots, the rents of the buildings OH the lots
where owners have built on them-in the
new town referred to are largely kept in Au-
gusta county. One resident Of this county
that we can name, is now receiving an in
come of 81 600 n building in that town
which cost him $4,000, just twenty-five
per cent, and every dollar of it kept at
home With that So 900 he can lay the
foundation yearly for other thousands.
That is the way Il county is made rich.
Will there be a field for such incomes and
profits at the StauntOn sale in June? Let
us see. In this city-strictly within it,
inside of its corporation line-there were
built in the last twelve months 1886, 225
worth of buildings, but q few thousand
short of q quarter of million dollars
worth! And yet in StauntOn to-day you
cannot commence the foundation of house
in any part of the city-suburbs OF centre
that you do not have applications to rent it
on the spot In East Staunton, in which
the Staunton Development Company has
located its industries, the demand for
buildings next year will be precisely what
it is in incorporated Staunton this year.
The workmen who will be engaged there,
the big pay rolls which will be disbursed
Saturday nights, the families who must be
housed, will all force building, and building
gives value to the land. We are not adviS-
ing the county people of Augusta to invest
in any uncertain speculation. For every
step Staunton takes, East Staunton must
take one too; for every increase Of values
in StauntOn, East Staunton must have one
approximating it. And Staunton takes
steps every day; she is pushing ahead in
every direction. In a letter from this city
written on May 18th to the manufacturer S
Record by Mr.. A. G. Gordon, man well
informed on what he is writing about, we
find this:
But everybody does not know that Saturday
of last week was a red-letter day in the histo-
~ Of the city. On that day the President of
the Staunton Development Co. and the select
committee Of the Staunton Chamber Of Com.
merce were notified of the reduction Of freight
rates to manufacturers on coal and coke of
:,3A per cent. On that day Mr. Coster, a men,
Der of the firm of Drexel, Morgan & Co., the
New York financial agents of the Chesapeake
& Ohio system. and looking to the South for
investments, drove over the town and the
properties Of the Development Co. with
view to ascertaining the facts, figures and
prospects relative to Staunton. ard expressed
himself as more than delighted. On that day
committee of citizens secured the final
amount necessary to inaugurate forthwith
preliminary investigation and survey of
grades, &C., for the extension of Henry e.
Davis West Virginia Central Railroad from
the point which it has reached in West Vir-
ginia through to StauntOn. On that day Mr.
NJ E. Ingalls,, President of the ''Bg Four
system and the Chesapeake Il Ohio Railway,
visited StauntOn and made a liberal subscrip-
ton to the erection of the magnificent new
hotel soon expected to 90 up Oh the land of
the Development Co., on the Northeastern
suburb of the city, and, finally, on that day
Mr. Ingalls, put down in black and white in
10,
enterprising and interchangeable correspondent,
what he thinks of Stanton in these words
''In answer to your question as to what l
think of StauntOn and its future, | am glad to
say that there cannot be any question about
its future. All of the new towns in Virginia
are doing we'll; but, even if misfortune should
Overtake them, Staunton would be safe, be
cause it has a large city and accumulated
wealth to rely upon. 1t is the metropolis Of
the Virginia Valley, and the additions that
are being made only put it in the place where
it belongs, and where it should have been
years ago.
Nh. Ingall opinion is that of a man Of
affairs who has had large observation Of
and insight into the new development of Viz
ginia. Staunton and her suburbs constitute
q safe ground forpermdne,at Investment.
Nomatter what happens, this city is obliged
to grow. Manufactures, trade, time and the
inflow of population make its growth GER
tain. TO grow, it must lap over and envel-
ope the surrounding country and, doing
that, it gives it steadily increasing value.
1t is the profit of this increasing value that
we wish topseserve to the benefit of Angus
ia and Staunton by having lot buyers largely
from this vicinity. The more money kept
at home, the more new industries, more
buildings, more population, more pros
perity.
The sale which takes place here June Cd
will be attended by thousands, and Of them
We wish to see a very large body come from
Augusta county.
Some OF the Southern papers are com
menting On MI. Cleyeland's expression H.
one of his Buffalo speeches, that the Union