Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-05-01
A BIRD'S-EYE VIEW
TAKEN OF VlRGINIk'S GREAT SEAPORT
FROM NEWPORT NEWS PLATEAU.
Why Prices VIII Advance with
a Bound.

NfNIohT NENf. RIIii rus-hHtHo ''AH
any argument or the presentation % any
statistics. believe any ono who will tako
his stand on the beautiful plateau stretch
ing between Newport News and Hampton,
will by bird's-eYe Wow Of this place be
convinced that this is TO be one Of the great
est cities on the Atlantic seaboard
What sill he sec % indicate continuous
growth and prosperity? Along che water
Inc a forest OF steam ship tunnels aud %.
masts iirng the Hays Of al nations. Oisect-
Ing tho city, as n were acres OF tracts
over which ore GartDg nithcr and tAither
pulsatinc locomotives. shifting cars laden
with the produce Of dominion OF untold
wealth. Hero long rows OF neat dwellings,,
There church spIre. Wonder hotel crown
ing O height, and last, but not least, the
grand ship-yard. which D. colony OF III
dustry in itself, not 20 mention a line 81
retail busincss-housos. banSs, Insurance
Offices. dc. IL il an inspiring. scene OF
prophecy Of future greatness and develop
mont.
OK TIE sTEyFTs.
Then come down from the pl0teau. walk
the streets. and what IL the observation
4 buster place cannot be found IN the
country. / do not mean more icyerish
tlANfft I.tN u UlHi'i lINiH III WV ~ a. no We
solid. ettady-gOing attention TO business.
There are 40 p,odders here. Even the
young people one meets enter INTO every
thing with o ihorough--Oing ar Their
social orglnizGt iOI' tncr church gather
ings are all characterized by the ugges-
ton that whatever IS worth dom. is worm
dong n earnest.
IMPROVEMENT EyTRYwHKaF.
IMPROVEMENT is the rule everywhere.
Now that the weather u settling, painting
up and bcau-ifyng the old houses is the
order of tho day. One hears of some new
building TO bee erected mt cvery turn. and
the influx II capital for investment III ell
giblo lots is steadily on the increase.
Eycn SINCE my last letter heavy negotia-
tions have been set on foot which cannot
fail TO give q rapid push upwards OF re-
alty.
The Chesapeake and Ohio Railway Com
panV are largely increasing their trackare
capacity here, and have under cOnstruc-
ton two new piers and passenger station,
TINS fulfilling their promise 10 spend up
wards Of ~1.09O0)0 Of their new loan m
Newport News improvements; while 1t Is
learned on the best authority that we have
only seen The beginning of whit the ship
ward company intend 20 do. Every other
interest of the city might be eliminated
from the situation, and judging The future
by the past. IN three years thls corporation
alone would demand more residences than
are now II the place.
Only oNH FACTOR.
In a recent letter ] alluded 10 tho fact
that 400 houses. - be built by northern
capital, We're under contract. This. how
ever. rs only one factor In the argument
of Newport News's development. IL d,
indeed. the least Of the factors There are
a. many more houses 20 be put up not by
capitalists, but by men OF small means
who have made enough on their first ill.,
vCstment 10 20 into building and take ad-
vantage OF the demand for homes. his
marks a distribution Of prosperity that IN q
sense D. worth more than the investment Of
large capitalists. Newport News Is one of
the few places whore the man Of small
means stands on footing with the man Of
large means. rs he does not have TO take
the risk Of a decline. Prices of eligible
lots such as those in the plateau / have
spoken Of IN the beginning of this letter
cannot 90 backwards, and the man who
holds one or two OF them cannot be
squeezed ont by the man VINO owns fifty.
I'm short. his lots cannot be beared. and f
capital attempts o. bull its own holdings
he gets the benefit OF any such movement.
itls the sOhd, steady, intrinsic value otreal
estate here that has rendered the small
holder independent. There are scores OF
men in Newport News to-day, or investors
az Newport News. living elsewhere, whose
property has tIcbied IN value since they
bought il. but who would not sell for four
times the original price. They simply
know that under the law Of demand and
supply their property and all the property
contiguous TO them must continue To adj
vance steniilv. Holders IN the plateau
between Newport News. and Hampton,
particularly, see that every encroachment
upon them Is so much per cent. on their
investment. and this encroachment will
soon reach a point when the advance in
prices Will be with bounds instead OF
strides