Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-12-06
AN ACTIVE OUTLOOK.
EFFECT OF NEWPORT NEWS TRANS
ATLANTIC FLEET ENTERPRISE.
An Inducement Indicating an Advance In
vaIues-Besu Of Recent Far
chases of Property.

NEWPORT News, December 5.--Since the
announcement that the great enterprise
for Transatlantic fleets from this port had
been consummated there has been de-
oided undercurrent looking to activity In
real estate here do not mean to say that
vast deal of property has changed hands.
With the exception Of the three hundred
lots purchased recently by Richmond
syndicate there has boen no big deal at
Newport News. Nor, in fact. can this be
called q deal" as the company making
that purchase have not gone in for specu-
lation, but for the purpose OF building.
LOOKING AROUND.
What / do mean is that there is q great
deal of looking around by conservative men
whom il is safe 70 follow in an investment,
and | would not be surprised to see q olg
advance in values any day. This advance
has been expected 10 take place IN the
spring, anyhow. The fact is that when we
consider what will be the necessity for
homes here in the spring the advance IS
bound to be. But now the impression Is
that it will take place before spring and
that investors will take time by the lore
lock,
AND THESE MEN WILL BE WISE.
And these men will be wise. 1t can oe
accepted as indisputable that there IS not
an eligible lot in Newport News that is not
worth more to-day than what lis owner
paid for il. and which will not DO worth In
a few months double what il is now. 10
NAV also be accepted as a fact indsputaDle
that every house built between now ana
the middle of the summer will not only
command q good rent but double lts
value before COMP etiop. The exigencles
e - Iofy, nd MOI aud will continue
to demand houses as fast as they can oe
erected.
A NEUTRALITY-SUSPICIOUS.
There is already q city here--a city OF
hotels, stores, industries, shipping, ana
railroad interests, which are permanent -
as permanent as those OF some or the old
est cities in the Union. and which form
the nucleus OF a great seaport and manu-
featuring centre. But there Is one ms
apprehension under which many labor,
and.that IS that IN the remarkable spread
of the il will scatter in oil directions.
It will so extend in time, but now It 10
building cOmpactly. The business portion
OF the place, as | have before Indicated, IS
crowding ON the residential, and that
in turn is moving solidly in certain
directions where lots are most eligible. IL
il in these lots that the advance IS going
to take place-lOts in the natural line or
UfSL SAItuSlDL-duu W nlNAA arc llLpos NpAA -
nient for connection with the present i'm
provements Of the place. 1t Is these lots
that people here who are saving money TO
build homes, as well as outsiders, have an
eve on. The direction in which the wind
blows was, think: clearly indicated
by the purchase of the Richmond
syndicate Ihaye referred TO. The gentlemen
who compose this syndicate could have
doubtless purchased cheaper lots which
will also inevitably come into Newport
News, but they would have perhaps to wait
longer TO realize on their investment. As It
isthey have not only done good thing, for
themselves in insurng quick returns but
have made remaining lots IN the same
place intrinsically more valuable. They
have. as II were, given a point
which other shrewd men will not
disregard. Every building they put up
will help their neighbors whether their
neighbors own improved or unlmproyed
property. Their own brick and mortar
viii strengthen the foundation on which
will stand those who have already invest
ed or who may invest IN the immediate
future.