Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-01-24
CONDITIONS MEET.
IMPORTANT FACTORS IN THE pevEL-
opMENr or NEWPORT NEWS.
The Tracking Of the Chesapeake
and Ohio systsm-E6ect Of the An
pouncsmeut ON Values.

NxwpoHr News, January 23.-CcrtMniy
numerous conditions conspire to give I'M
petus to tho development OF Newport
News. Hardly had the charter OF the
great ship building plant been amended
40 ss to allow them to increase their csoi-
tai stock from s2.0OO.Ooo to ss,ooo'ooo-
every dollar of which increase ID 70 Do eA-
pended in improvements, which VIII BRING
additions to the skilled mechanical popu-
Iation-wben the announcement is made
that the chesapeake and Ohio have deter
mined to.double track their system
THE rrrEcr pEscrPTrBLY rELr.
This action on the part OF this great road
has long been deemed iDimitaole. IL mas
long been seen that IL was necessity,
owing TO the rapid increase of general tom
maze over the line, and more especially 70
the DEVELOPMENT of its coal-helds: But
now that the matte. has been settled upon
the effect has already been perceptibly feit
here. Although there never has been a
DISPOSITION 10 rush lots upon the marke,
here, there is now less disposition 10 sen
than ever, and atendency to upward prices
ia very noticeable. 1t Is especially so
in property in what IS regarded as the most
natural extension of Newport News; con-
sisting of that stretch of beautiful plateau
in which are situated the recently-pur-
chased lots of the Newport News builhinc
Company. Any man with eyes IN ms head
who is interested can now see. IL IL were
possible for him not TO have seen 1t before,
that he has q certainty OF splendld re-
turn on his investment, and that II Is only
a question of a very short time wnen the
march of progress must demand his pro-
perty.
WHAT IT CALLS FOR.
Asa single factor in the advance and the
growth OF Newport News the double
tracking of the Chesapeake and Ohio road
calls for an increase of coal and merchan-
disc piers. an increase Of warehouses. an
increase Of ships to bring to and carry
away the tonnage. and general increase
of force of the corporation IN AL its de-
partments. Were l TO estimate the ship
ward improvements as an accretive agency
in the matter of population, the swelling
of the business OF the chesapeake ano
Ohio railway alone in the next few months
would be q guarantee of most extraordi-
nary activity in building operations. Add
the two factors together. however, and re-
lterate what have affirmed in previous
correspondence that it is a serious pro-
blem how the influx of population is going
TO be housed. do not wonder that pro-
|perty owners are not over ahxious 70 sell
or at the sangulneness tnat exists Oh u very
buoyant market at an early date. The
syndicates that have purchased here, as
well as individual purchasers, are wiser
than they knew.
FINE BUSINESS.
Although the weather OF the past two
weeks here has been anything but plea
SAINT, the business has been very fine.
There is. in fact, no such thing as stagna-
ton in business ct Newport News. The
fact is, that owing to the harbor's never
freezing there is always q steady run OF
vessels here. This in itself insures activity
on the wharves and IN the retail trade, 70
say nothing of the fact that the force at
the ship-yards and dry-dock. and In other
industries must be fed aud clothed. An.
other thing | notice IN connection with
the importer In development here: 1t Is
that the disposition of the people who
come to Newport News to work to Sc;
cure houses Is steadily on the increase, and
that is marked consideration in giving
stability to values, IN stimulating build
ing, and in establishing permanent socia
conditions. Every man who buys with
view of putting up a home increases the
value of his neighbours property. and no
where is this element of citizenship more
pronounced than at Newport News.