The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1891-07-02

SIDle Kate OF increase.
So many pleasant things are being
said about Winston Salem by the
press of the State, in fact by every
body, and so much confidence is
abroad in the solidity and prospect
i've greatness of the Twin-Cities, that
it makes us very careful about what
we say, for fear that our own par
tial and unwavering faith may be so
strong as to mislead the views of our
readers. So we dropped in on one
of our business men who sticks very
close to his desk and never neglects
the daily routine of his business, to
ask for his best opinion on a few
points that suggested themselves
to us.
Mr.. George w. Hinshaw was in his
shirt sleeves, catching what breeze
could creep in at the spaces not Occu-
pied by desks, letter files and other
business paraphrenalia.
''It has been urged, Mr.. Hinshaw,
against Winston-Salem that our cap
italists did not build a large number
of houses to rent, in order to supply
the really growing demand for them.
Is there any Justice in this criticism ?'
81 don't know" said he, ''but it is
"a fact. Ever since l have been in
Winston, it has been the policy of the
working men here to encourage the
spirit of every mans having his own
home as far, of course, as that is
practicable. In the first place, the
business men here are country boys
who came to town because they saw
an opportunity for building up. city
and building up themselves along
with it, They had no money by in
heritance, and required every dollar
that they made in the way of surplus
to amplify their business relation, SO
they have had very little money to
do anything with except strict bust
ness. Not only this, but they had an
idea that if a great quantity of mon
ey was put into tenement houses of
one sort and another, really good
and cheap, and the habit amongst
employees of looking forward to rent
ing to the end of their lives was once
established that it would interfere
with the better arrangement of own
ing their own cottages and being
freehOlders. Every inducement was
held out to men to buy and build.
1t was right in itself.
Then it was best in this way When
any depression came it would be very
easy for people who were mere renters
simply to pull up and turn their backs
upon the town and go elsewhere for
work. But where men own their
own houses, this is a very serious
step, and the common sentiment
would spring up in the community to
start some new business or lines of
business that would make employ
ment. In other words when a man
owns his own home and lot and gar
den, it is hard matter to get him
to move from it and he becomes at
once a permanent citizen, who has
either got work or will have it."
"Some people have said that real
estate-our lots-were selling too
high. Now have you made up any
Judgment on this question:
"Winston lots are not high and
they will go very much higher. The
reasons for the above are as follows:
To test their value today, we must
compare them with other towns of
equal population and equal business.
| Measured by this standard, lots are
cheaper in Winston and larger Go,
80 and 100 feet by $50 to 2OO) than
in Danville, Raleigh, Asheville, Char
lotte, to say nothing of Roanoke,
| Lynchburg, etc. When you consider
that these places are about the same
size or but little larger, you have a
| fair statement of the case. But you
must remember that Winston has as
big a business as any of these towns.
Roanoke, of course, is a big iron
town, but the money made by the
tremendous number of factories Tin
proportion to the population in
Winston) all stays here. Iron towns
are splendid for railroads because
they breed enormous freights, but a
town with diversified industries like
Winston makes a retail trade that
gives u multiplicity of occupation to
all sorts of people. The men who
have handled real estate here will
show that increase has been pro
nounced but regular, and that an ad
dition of 33h per cent. to we'll located
property can be relied on from yeal
to year.
do you think that they will keeI
up the rate of increase?"
81 cannot say as to this, because
the rate of increase has been, as yol
know, very great. In general way
though, would think it ought to in
crease at the rate Of from 25 to 3:
per cent, certainly for the next few
years. After that the ratio nigh
become too great. Their future vii
be very greatly enhanced because il
the course of this year we will have {
7 through system of railway that vii
| put us in direct communication will
Roanoke, Washington City and tn.
North, and will turn a great deal o
the investing public from Roanoke
this way
"DO you think that there is an,
danger of what is commonly called |
boom, here 2"
sOh, no. You see you must recol
lect that the directors in all GU
land companies can speal
without much hesitation upon thi
subject, as am not in any of them
except simply as stakeholder
would do honor to any Nationa
Bank, that is, they are men acquaint
Il ed with finances and have no idea i
the world of ofsky-rocketing with prop
erty here in Winston"
DO you think that railroad bnild