Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-02-02
THE RIoHMoND DIsPArCH--TUEsDAY FEBRUARY 2. 1892
A SEAP0RTS SHARE.
NEWPORT NEWS AND THE cHssA-
peAKe AND OHIO MORTGAGE.
How IL VIII Affect tho Piace--Sew Piers
&c.-CopiInued Advance In
Values

NrvroRr NEWS, February III asked
prominent official OF the Chesa-
poake aud Ohio railroad today how the
big blanket mortgage TO be placed on the
road would affect Newport News. He Il
aconainted with AL the interior workings
of the corporation, and one Of the most
conservative men know. 1t Is not his
habit TO make wild speculatlons. Effect
on Newport News -" he exclaimed, Why,
IL viii be tremendous thing for Newport
News. She will get her proportion OF the
improvements-ber necessary improve,
me hts in the way OF additional piers ana
vs. arehouses. etc. and that IS great item.
improvements and developments are 70 De
made ali along the line, and Newport News,
as the deop-water terminus, IA one OF tbe
focal points Of benefit. But you can see
that as well as any one else"
PATENT FACTS.
And could. These are patent facts 70
all here. IL 10 recognized; 1t stares one IN
the face that as rapid as has been the pro,
gross Of this place, tie advance Woulu
have been still greater had the Chesapeake
and Ohio been able TO keep up with the
demands upon it. When ] say this DO
NOT merely mean the matter Of transport
alton of freight but the demands Tor ae-
yelopment along its line. Any one VINO
studies the map Of the country through
which this great system runs VIII see AZ
glance that 1t has corner, so 70 SPEAK, OF
opening up and improvement o, ohs VI
tho richest sections Of the United states.
Over the Chesapeake and ono y must
shin It's products 10 deep water ana ID re-
turn be furnished over that road with sup
plies. Newport News. therefore, draws a
certain per cent. of interest on every uoi-
lar put In the improvement OF the roau' IN
that increase of facilities means increase
| of population, increased demand tor
houses, and increased value OF real esVa'e'
PRICES sTHFEN.
The mortgage announcement has alreaoy
had It's effect in helping 20 stlnen Iea I, gs-
| tate prices. rs did the passage OF the OH uY
! the Tegislature increasing the capitai
/ stock of the great ship-yard plant mere.
/ There is no speculative tendency, atH
| clad TO saw but steady upward look OF
| Things that indicates substantial prospetl-
| ~ and is an assurance that those who MAKE
| investment here cannot fail into on error
ANoTHEB POINT.
Another point about Newport News
| wbich is we'll worthy Of consideration IS
| this; While IN 4 great many instances
| stocks in enterprises in new towns nave
| failed of retaining the confidence OF the
| peoplo, such has not been the case mere
| II il true that during tho season OF de-
pression that swept over the State, owing
| to over-iuyestment and other causes, there
was no marked demand for stocks IN the
| Companies here II would have been an
unnatural state of things if there had
been aud corporators and holders did
not try to press their holdings on
| the market. They were satisfied and
| their confidence has been justified;
| Ibev know that Newport News must
continue to expand; that there must
be n steady demand for buildings; that
| business must increase and population
| must continue 70 come IN. What they
| foresaw has taken place, and now there Is
n healthy increase in the value Of their Sc
| curitias which is additional evidence that
| landed investments must advance. In
short. all conditions here emphasize. the
soIdity and the assured progress and the
wisdom of investment at Newport News.
The activity in building here this, spring
| IA going 70 be something tremendous, II
| only one half the contracts already made
are carried out, and if oil are carried out,
as they doubtless will be, their consunma-
tion VIII not half supply the demand for
| houses.