The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-09-23
Flue Prospect for a General Revival Q
Business This Fall.
VIEWS or A PROMINENT BUSINESS MAN
Development of Rnfirond Water
Frons Property ana Extension Of
Electric Railway l.iRcs Important
Factors i'm the City's Growth-Lnnd
Companies Doing Well.

business man by The Virglnian reporter
on yesterday. 4uU."yo
II think the outlook is exceedingly
bright" he replied. '',rhc majority or |
the truck farmers made money this year
forthc first time in four years. and this |
money has necessarily been put in cir
culation among the people. The two |
electric railroads now building have
given employment 10 a large force Of
men, and there has been great deal
or building going on, principally in the
suburbs. The Southern Railway has ex-
pended over 100000 in erecting the wa:e-
house now under construction and in
Improving Its property, and / under
stand one of the large warehouses now
at West Point Is being taken down
preparatory to moving 10 this point All
the railroads touching this side of the
river are working n full force. both in
their offices and repair shops, and Il
believe the fall trade Is opening with
better prospects that the most sangutne
expected. Our only dra wback Is the de-
creased force in the navy yard, but, as
many of the mechanics have found work
at Newport News and their families live
here. our business has not been hurt as
badly as we might have been"
ACTIVITY IN SUBURBAN PROP
EI,TY.
do YOU think the present activity in
the sale of suburban property Is a boom
Or healthy growth?"e
IT am convinced 1t Is growth created
by the demand for more homes and the
property is purchased by parties who
have money to invest, feeling that the
enhancement In values during the next
few years will make their Investment
very profitable.
: g1" "PINNER'S POINT .,
has probably attracted more buyers
than any other suburb This has been
due largely to the removal Of the ter
minus Of the Southern Railway from
West Point to Primers Point. BY such
removal the Southern Railway took the
chief means of support from q city OF
1000 inhabitants. The clerks, ware
housemen and laborors had to have
homes, hence the $50 lots placed on the
market In March, 1896, were quickly
sold and many residences, including TWO
hotels erected. Then the New York,
Philadelphia and Norfolk railroad pur-
chased $4,000 worth of property at Pin
ner's Point, and $4,000 worth at Port
Norfolk Then the Primers Point Land
Company was formed. who purcha sed
the Cotton tract OF land and l under
stand over GO per cent. OF these lots
have been sold. The Primers Point
Home Company, formed about six
months ago. sold lots enough in three
months to declare the stock OF $500 per
share fully paid up with only one assess
ment OF $3.50 per share. The three COM
panies named above will Undoubtedly
net their stockholders 300 per cent In the
next two years. besides bringing large
returns to the more fortunate purchas-
ers OF the water front. Water front
property which soid from $40 TO SIG per
front foot is now bringing from $45 TO $50.
The supply Of lots at Primers Point Is
limited, hence the steady demand.
When a company was organized to
purchase the
ROGERS FARM
at $4,000, consisting Of thrty-thrce
acres with q water frontage of l 600 feet
there was consdcra BILE doubt in the
minds Of many whether the stock could
be sold. The company was successfully
organized. and, although the streets
have not been completed, and the prop
erty placed on the market for the sale
of lots, nrty-six lots have been cold for
over 500. 900. and no doubt in the next
sixty days over onc-half of the 325 lots
the company has placed on sale will be
disposed of. The fine large warehouses
Of the Norfolk and Carolina and South
ern Railway. with the cotton compress.
repair shops and trains, give employ
ment to n small army of men who are
brought here generally from other points
and the supply OF houses has not been
equal to the demands Of these employees
in which to place their families The
extension of the Port Norfolk electric
railroad through the center OF the PIN
ner's Point land will greatly benefit its
growth in the future.
PORT NORFOLK
IS being rapidly covered with handsome
suburban residences and many more
are contemplated In the future. This
suburb. thanks to the energy and fore
sight OF its manager. NJ. w. Mascn has
successfully w!thstood the depression OF
the past four years and steadily grown
until ] understand the company Is now
out Of debt AMI quietly waiting the
construction OF the Pennsylvania rail-
road belt line terminus at that point
before pushing further sale Of lots real
tzing that the magnitude of this work
will be such as 10 enable them to add
2b per cent to the present price of lots
Here is another enterprise that will
prove an important factor in putting
considerable money in circulation with
It's construction. and must prove of
immense value to both property values
and the business of our city so soon rs
work Is started. 1t is said this project
will ibe started so soon as permission Is
granted by Congress to cross the South
ern Branch. The right Of way has been
secured and the plans for the construc-
ton OF the line, bridges. docks. etc, are
completed The furniture factory. ex
teaslve stock yards and power-house of
the Pork Norfolk electric railway on this
property help business very much The
owners Of
PR0NTIS PLACE.
which has had such Il phenomenal
growth. pnf0Vipp 1,a e.,
foresight and now witness residences
and new enternriseS incrnnro ,,a.,. t..