Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-01-15
A MILLION MORE.
INcRe AsE IN CAPITAL STocKoF NEW
PORT NEWS SHlP-vAaD PLANT
The water-suppiy schems-Chesspenke
and Ohio Railway Improvements-A
Suggestion to Investors.

NEWPORT NEvs. Janu AIRY H.-ln very
interesting article in the Ra'l,cdy Reuie'o
on the Chesapeake aud Ohio railroad no.
tice the following significant statements;
"The deep-water terminals Cat Newport
News) are not yet sll that hey must be, but
favorable arrangements have been made
with coastwise steamers sailing to New
York. Providence, and Boston. and with
the Furness Transatlantic Line. In NO.
yember and december there were twenty
scheduled sailings from Newport News 10
London. Liverpool, Glasgow. and Havre."
Again, "a large merchandise pier ana q, q
new passenger pier at Newport News VIII
be in operation by next autumn"
As prophetic as these facts are regarding
the DEVELOPMENT OF the place, they are no
more so than n bill which has recently
been introduced into and has been passed
by the Legislature. That bill increases
the capital stock of the great ship building
and dry-dock plant here from S1,ooo'uOo 10
s., 0O0. 900. and also increases Its amount OF
real estate holdings.
IL NAV be said thstit iseasy enough TO in-
crease capital stock on a paper basis. True.
But this concern IL not on paper OASIS.
Its half O score of magnificent Dick build
ings equipped with the finest ship-buiiding
machinery on this continent, It's mammoth
dry-dock, its school for the children OF its
employees supported by the company, its
already thriving business, are accomplisned
facts. The increase of capital ana real es-
tate holdings Is simply preparation Tor
an increase of work and q guarantee
that those who predicted that the
present population will be doubled IN
a few years know whereof they speaS.
And as an evidence that nothing else is on
paper, NAV mention that the work OF Sc
curing an adequate water supply tor years
10 come is already commenced. IL is not
a scheme mapped out, but scheme IN
process Of actual accomplishment.
When ell this is considered. when such
a foundation as this IL measured. do not
think that the most skeptical can accuse
the people OF Newport News of INDUCING
Ia Utoplan ideas as regards what their city
- going to be.
The Chesapeake and Ohio railway and
the ship building and dry-dock plant alone
are sufficient TO assure the realization OF
the predictions of the more sanguine IN
regard TO the place. The former cannot
60 anywhere else if it would for deep
water, and its history shows that Newport
News has been the means OF its upouilding
10 its present value as great trunk hne.
The ship-yard people have too much
would. Besides their venture has been a
success. They are making improvements
and branching ous all the time, and yet
| learn from the best authority that pre-
sent operations are but an index OF what
they expect to do. One million increase OF
| capital stock Is but a start.
And now | ask is it wonder that TWO
large syndicates have recently purchased
| lots here and will almost Immediately CON-
mence building operations? Did not
| common business sagaclty declare that
there could be no better investment lie
additional money put in here by the Chesa-
peake and Ohio and the ship-yard people,
it is clear TO the most obtuse. means addl-
tional population for the reason that 1t
also means an extension of operations;
Increased population means an increased
demand for houses over and above the
present pressing demand, and this IN turn
means a heavy advance IN real estate
values. This is the logic of the. situation
and suggestion 10 Investors large and
small.