The Providence news. (Providence [R.I.]) 1891-1906, 1892-01-20
NEWS OF REAL ESTATE.
The Cheshire Watch Co. Of Connec-
tlcut May Locate Here.
RICHMOND PRINT WORKS SALE.
Brisk Operations In. Real Estate for the
on-washington Park as Site for
Dwellings Homestead Savings Fund
and Loan Association Annual Meeting
Intentions to Build.

The Cheshire Watch Company of Con-
necticut is negotiating with the Home
Investment Company of this city for
land at Washington Park to establish a
watch factory. Sometime ago there was
talk Of this company coming to Provi-
dence. Affairs have taken such shape
recently that it is believed that another
watch company will be added to the list
of those in this city. The capital which
the Cheshire Watch Company intends to
start out with will be $250,000.
AS preliminary condition it must be
guaranteed that Providence people will
take enough stock to warrant this COM
pany coming here. If this is done it will
prove a valuable acquisition to the city's
industries. The value OF real estate in
the section that the company will oper-'
ate will rise.
The most important transaction in real
estate during the past week took place
on Monday last when Charles Fletcher
purchased the property OF the Richmond
Manufacturing Company. Although it
has been given out that the property was
bought TO control certain water privi-
leges, yet the bushes of the Providence
Worsted Mills is such as TO warrant the
assertion that the property will not long
remain idle.
Transactions and operations in real
estate are usually of little importance at
this season of the year, but business this
winter is much above the average. The
open winter allows building to go on
hardly without cessation. The opera
tion of electric cars, it is said, will in
crease the value of property by 10 per
cent. in the vicinity through which they
will run. These may be given as the
reasons for the activity in building cir
cles at this time. There is large de-
mand for rentals but the majority of
people prefer to own their houses. This
is especially true if they can be obtained
on easy terms.
The call is mostly for single tenement
houses. Companies who sell houses on
easy terms and assist people in the build
ing of houses are doing gratifying
business.
There is boom in real estate in the
direction of South Providence and Wash
ington Park. The latter place is as dis
tinctive in its name as Elmwood or
South Providence. 1t is in the city linn
its the furthermost border being the city
line. Comfortable dwelling houses are
being erected at costs varying from
81 800 to $4,000. This section is nicely
located and is easy of access. 1t is
valuable property and is rapidly rising
IL is near the river and summer resi-
dence by the sea shore could be hardly
be more desirable. The streets are broad
and well paved and are lined with shade
trees Washington Park is not place
which has grown in night but build
ing operations have gone on steadily
and persistently.
That those associations who sell
houses on easy terms are doing a good
business may be seen by the success of
the Homestead Savings Fund and Loan
Association, which held its annual meet
ing last night. A large number of
shares have been sold in this new or
ganization, and last evening almost SOC
shares ON the second series were taken.
The following officers were elected
President, John CT. Massie vice presi-
dent, John Foster; secretary, Cyrus G.
Armstrong; treasurer, Charles T.. God
frey directors, John McAuslan, Henry
r. Barker, Robert L. Smith, Edwin ID.
McGuinness, Charles A. Hubbard, Jo-
seph Lytbgoe, John L. Cranshaw, Will
liam S. Granger, Frank III. Maynard;
auditing committee, Spencer b. Hop
kins, John L. Brown, John w. Case.
This association assists people to build
homes, not only in Providence but
throughout the State.
The intentions to build which have
been given at the Office of the Inspector
of Buildings during the past week have
been mostly for dwelling houses. One
two-story brick building is to be erected
on Pine street at a cost of about So 1000.
The report of the Inspector will soon be
ready TO be presented to the city council.