Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-07
A BIG SALE
Being Negotiated by the Chesa-
peake & Ohio Railway.
Its CRANKY street Property Being
Considered by Capitalists nj
$4,000 Two Offers We're Re-
fused.

For some time various capitalists
who realize the rapidly increasing value
of Norfolk real estate have been at
tempting to secure the CRANKY street
holdings of the Chesapeake and Ohio
railway.
The property considered by them is
bounded as follows: Beginning on
Brooke street. 100 feet from CRANKY
stcet. easterly 120 feet to CRANKY,
thence northerly 351 feet on CRANKY,
thence westerly 25S feet, thence south
erly ia feet. thence westerly to Boush
street. thence southerly Is feet. thence
easterly along Tazewell. to within 120
feet OF CRANKY street. thence southerly
to place of beginning.
TWO OFFERS REFUSED.
The Chesapeake and Ohio has re-
Gently refused two offers of $50, 900 each
Tor this property. but is holding 1t at
sli5,o0O Capitalists are now consider
ing the property at this figure and it
Is believed that they will take It, pro-
oably within Il week, as the tendency
OF property in that vicinity has been
TO advance rapidly OF late on account
oil improvements to be made and the
tendency of business to expand In that
direction.
VALUES INCREASING.
Mr.. q. B. Wall. of Richmond Va,
representing the real estate department.
Of the Chesapeake and Ohio railway. is
IN Norfolk in connection with tho nro-
posed sale. He has carefully inyesti-
gated business conditions here and ex-
presses his conviction that. not many
Years hence, this property will be
worth thousand dollars per front
root. HE will return to Richmond to-
day. ~
If this sale is made the Chesapeake
and Ohio will still retain q; very de-
Slrlole block of twelve large lots ad-
Joining the tract. These lots front $40
icet on Tazewell street C lots) and
same on Brooke street &c lots). They
are bounded on the west by Boush
street They have n ten foot alley on
.'ie east from TaZewell to Brooke. and
u ten loot alley touching back OF all -
lots running from Boush street TO tho
l,cy on the east. The Chesapeake and
ONO railway intends to hold these and
Pront oy the rise of value caused nv
other improvements.
NEW BUSINESS BLOCKS
IL is understood that the parties who
wish TO buy the CRANKY street nron-
erty desire the CRANKY street frontore
DIS IL site o. business blocks for their
own use ana will resell such portion
oil the purchase as they do not desire
for their own use.
III the property is sold by the Chesa-
peake and Ohio it will be under certain
building restrictions that will ensure n
very desirable class of structures thara
"A VALUABLE TERMINAL
me Chesapeake and Ohio has for
years pcen attempting to increase its
iaciiities at Norfolk and to this end
mas through great trouble and expensa
ACQUIRED suiiicient water front and real
estate and improved the same in such
d substantial manner that its terminals
are now valued at over n million dol
lars. N''iio" 'uoi-
zinc, inc company has done extensive
hllinS in. built hrst-class roodwavso go
srected desirable buildings. among the
AFTER Il mammoth pier and Warehouses
IRON IRON covered and capable OF housing an
immense amount of freight; also =
handsome new passenger depot that Is.
an ornament to that vicinity, built n
saru ana transfer bridge to enable e.
10 handle the freight and shipments
nm, me west and transferred across
me haroor from Newport News
All or this has been done in n strictI,,
Irst-ciass manned with Il view or NO..
ii ii ana increase of business. Tho
company has enough ground left 70 A.
inost uoupic its present facilities i'm Tho
event that the future demands rn",,,i,.e
this. require
FURTHER FILLING IN.
T., l.