The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1892-06-19

estate sales for the same period amount
ed to S6,O0O,O00.
This is only small part of the
achievements Of 1890. The total mum
Der OF companies organized for different
purposes was 132, with an aggregate cap.
1tal OF Sl0,000000. More. than 81, OO0,-
600 was put in buildings. Among the
most important buildings was the COM
pletion of the Ponce dc Leon Hotel, Ho
tel Roanoke and some score or more Of
the handsomest residences in the city.
Many of the best business buildings in
the city were erected during this year
Among the manufacturing establish
ments completed the Virginia brewery
and the blast furnace of tho Roanoke
Iron Company were the most Important
The Roanoke Development Company,
organized about two years ago, has
demonstrated it's Importance as factor
in tho advancement Of the growth of
Roanoke. Streets have been constructed
through large part of its extensive
property and three bridges built across
Roanoke river. Three large plants
those of the Norwich Lock Manufac
turing Company of Roanoke, the Duvall
Engine Works and the Bridgewater Car
rage Works.
The Virginia Blanket Mills has also
been secured to locate on this property
These industrie S will employ altogether
about roo operatives.
Roanoke has been affected by the
financial depression from which the
whole country has suffered for the last ten
months, as have most localities, though
there are but a few communities that
have stood the depression so we'll. The
era of active and extensive speculation,
which Immediately preceded the close
ness in the money market, we're sufli-
cicnt cause for fearing serious results,
but not a single disastrous failure has
occurred. Roanoke has weathered the
storm so far. no. only holding her own,
but making rapid strides forward.
While there has not been that active
speculation and extensive enterprise
that marked the preceding year, the
year 1892 will result in scarcely less for
the substantial progress Of the city than
the eventful year of 1890. There is
nothing to which Roanoke can point
with moro just pride that her achieve
ments since business thI oughout the
civilized world was stagnated by the
threatened panic in the great money
centers. Roanoke can we'll afford TO
have the record TO be published to the
world.
Early in January, 1891, Congress ap-
propriated SIS, 600 for the erection of u
public building. Many who had made
money in the preceding year started the
new year with plans to put their ac-
cumulations into buildings. While
building operations would have been
more active if money had been easier,
still the attention of the investor has
been directed more to permanent i'm
provements than real estate speculation.
The class of buildings has constantly
improved from the beginning of Roam
oke's growth, and this improvement is
more noticeable now than at any pre-
vious periodsin the history of the city.
Scarcely less houses in number will be
erected this year than last, and when
the record of 1899 is made up the in
dications are that it will show more
money put in buildings during 1892
than in 1891.
Early in the year. too, the Roanoke
Development Company began its nego-
tiations for industrial plants with the
remarkable success already noted. Be
sides the four large plants, two of which
are nearing com pletion on the property
of this company, the plate and muck
bar mills OF the Roanoke Iron Company
have been erected and put in operation,
although at the present time they are
shut down, owing to the dullness in the
iron market. The cold storage plant
has been constructed. Improvements
have been made at the Grocer Furnac IS.
The blacksmith shop of the Roanoke
Machine Works and the same depart
ment OF the American Bridge Works
have boon rebuilt The Monitor Steam
Generator Company will soon begin the
erection of an extensive factory on the
Columbia Land Company's property.
The Norfolk and Western is working on
the belt line that is to extend around
the southern border OF the city.
OF the buildings recently compile ted
on the corner of Jefferson and Campbell
streets. This magnificent stone and
brick structure, is seven stories
high. and CO. Sl25, 900. 1t is the hand.
soonest Office building in Virginia. A
number OF handsome business buildings
have been erected this year. This has
been church building year. The Lu-
therans are erecting magnificent stone
structure at cost of $4,000; the Bap-
lists have completed q $4,000 church
and are erecting another one to cost the
same amount; the Episcopal Church is
erecting $4,000 stone church and
rectory. The Southern Methodists
have built one small church at cost of
81, 500; erected a tabernacle at cost of
$4,000, and are building a $4,000
church the Methodist Episcopal church
has repaired and improved its house of
worship.
start has been made for the needed
public improvements. Early last year
the freeholders of the city voted S425,
OOo in bonds for streets, sewers, public
buildings and the fire department. The
Gamewell electric fire alarm system has
been put in place and the apparatus of
the department. improved. Over seven