Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-05-08

SOMETHING ON FOOT.
v,eG,N,Xs GREAT PORT AND The
ann DING OF NICARAGUA CANAL
n. NJ students that Was Not All .
Dream-raik of e5o,ooo'ooo
Enterprise.

,be air has been FLIED with rumors regard
loo tho establishment of q new shlp-yard
hero with capital of S5o.O)O,VOJ. In .hese
rrmors the names OF Rockefeller, hunt
;rc,on and Sir Charles Palmer, OF the
great ship-building plant near NeW-oas,'e,
on-Tyne. have been considerably Junioieu
NJ, Il il rather hard to unravei the situa-
tion exac,iy. but there is no question: IL
oao,us that there is something up IN the
wav of q grand investment, ~ winch al
three narties are interested. Tho nearest
.nintion that can be reached comes Ia the
abatement that II il contemplated 10 re-
move the great Palmer works 10 nemHoL
News. and that HUNTINGTON. hockeIeuer;.
and Austin Corbin, have agreed 10 taAe n'ii
the stock. =, -, o,,n,ov
IL 600 men. and its monthly pay-roll IS saih
10 amount to ~, 900, 90. and, according 10
a chpplnc from the Philadelphis lH4,'utr,
Tho belief among the employers OF the
estabiishment is that the plant IS gong 10
remoye TO America A New Castle paper.
IN referring to this rumor, does hol AUNT
the removal IS contemplated, Du. A. Oon-
cedes the difficulties under which the colil-
papy has recently labored IN opera,ing u,
that country. and thus accentuates ana
amnhaatzes the recent statement OF
northern ship-builder that the british snip
Iutlders will soon be asking themselves
the ouestion whether vessels can ne con-
strrcted over there as chesrly as they can
be III this country.
IT Is BOUND TO CONE.
However. whether the Palmer Company
comes here or not, It IS a foregone conclu-
SION tnat the present snip-yard i only
miniature representation OF WHAT the H.
dusfry In that line here IS TO be- Ihe New
mort News plant Is not the result OF
sudden discovery that this was an eligible
place for such an interest. Years ago Tue
limited States Government had III view the
h,,il line OF a shIp-yard here. and IL mas
Iono been "a settled fact IN the minds OF
those who have studied the question that,
with tine revival of American commerce.
the GREAT shine ructing business would
be in these waters. Before Mr.: hunting
ton ever begun 70 accumulate the fortune
which has enabled him 10 he inc Deheiac-
tor he is, students OF the great questions
of American commerce. American supreIn-
,nncy on the seas. and American develop
ment. had In their minds eye this erst-
while sand-barren, and fOresaw that II
would be o hive CT industry, teeming with
population.
TOBEAFACT.
And now | want to call attention to an:
other factor that points 10 reailZatlOn OF
this dream that was not all dream. oh
t1e I'd of June there VIII meet IN ~. LOUIS,
Mo-. tho Nicaragua Canal Convention.
That convention simply means that the
GREAT canal which for 400 years has been
talked OF is to be an accomplished tact. II
will be the grand highway between the
States of the Atlantic and the Pacific:
stones and prove the regeneration OF
American shlp-bulldng.
Not ONLY will Newport News by her
present great railroad system drain the
East and West and Northwest to this point
IN the matter OF commodities TO De
shipped-seeing that the port IL open all
tho wear round-but other great lines VIII
seek her wharves ~ "A place OF output. Inc
barbor is never frozen over; the situation
Is too far north for epidemlcs that VISIT
more sOuthernly points; and she Will bul!d
the ships TO carry the produce ana the
merchandise that tho railroad trains VIII
| empty here.
WHAT ARE THE COScoSnTANTs?
And what are the concomltants OF the
ship-building of the Newport OF the near
| future? The magnitude OF the interest
| simply means that all the iron and steel
work for the plant or plants will be done
| RIGHT here. The Chesapeake and ONO cuts
| through the richest ore and finest pig
metal-prOducing sections or the country
| as well as coal measures unequalled on the
continent. Everything used in ship
building from n bolt to the heaviest ma
chinery will be manufactured on tho spot.
This considered, and 1t ls very easy
to understand why individual lot-own-
ers are in no hurry TO part with
their holdings. This considered, and
it is no mystery why Newport News
salty has never suffered the decline that
followed the bursting OF the boom. "
This considered, and it is easy TO co.npre-
| bend that the time L. not far distant
when every foot OF ground within radius
of several miles of the centre of the place
will be in demand for residences at good
round prices. | understand that mum,
Der of Richmond capitalists are interested
in Nicaragua Canal stock. Well, that Is a
| good thing, and want 10 make a predic-
| ton here that the Nicaragua Canal u CO.
| ing 10 be a tremendous factor III making
money for those who invest at Newport
News.