The Providence news. (Providence [R.I.]) 1891-1906, 1902-05-15
fine BEACH
FOR CHARITY.
President Of Steel Corporation
Buys Summer Resort.
DETAILS OF PLAN KEPT SECRET
viii Select The BsnsiIclarles and Spend
Much Money on Contemplated
lmprsBm.nts.
DETAILS OF PLAN KEPT SECRET

New York. May l5.-Charles NJ
Schwab. President OF the United States
Steel corporation, has bought the Rich
mond Beach property, on Princes Bay
at the southend OF Staten Island. and will
spend a large sum OF money on the prop
private charity.
The announcement OF the change OF
ownership Of the property was contained
in the following notice sent ont yester-
day In Wall street:
mo. 5 Wall street. New York.
''The Richmond Beach and Railway
company, having sold TO Mr.. Charles NJ.
Schwab OF II Broadway. it's property
near Huguenot, S. l.. known as Rich
mond Beach. the same will no longer be
conducted as a public resort.
RICHMOND BEACH & RAILWAY
CO."
Thomas s. Krutz was found TO be in
charge Of the office I'm Wall street. MIR.
Krutz said that he had nothing to add
TO the notice issued by the railway com
pany. He said he was instructed to re-
fer all inquiries 10 oliver Wren, private
secretary 10 MT. ocnWdp'
MR.. scHwAB's CHARITY.
II am not at liberty" said Mr.. Wren.
ito give any of the details of Mr..
Schwab's plans. Mr.. Schwab will give
them out In his own way at the proper
time. He is out OF the city at present,
and | presume he will make some state
ment shortly after his return.
'"rhe plans OF Mr.. Schwab do not con-
template n public charity. The benefi-
Charles, as | understand IL. will be OF Mr..
Schwab's own selection. He expects 10
spend quite a large sum of money, and
the undertaking will be carried out In
that broad and comprehensive way In
which Mr.. Schwab does everything"
Richmond Beach was bought several
years ago by w. b. Rockwell, at that
time president of the Midland railroad,
of Staten Island II has natural ad-
vantages superior TO Coney Island and
Manhattan Beach.
Ii is situated on one of the most beau
tiful sites on Princess bay, just above the
mouth OF the Raritan. river. The beach Is
perfect from a bather's standpoint. AT
low water bathers can walk out from
the waters edge fully half a mile before
getting beyond their depth. For this rea-
son IL is constantly in demand In the
summer time for Sunday school picnics
given by the people of Perth Amboy,
Newark and other cities in New Jersey.
WILL BUILD RAILROAD.
The only objection to the beach hereto
fore has been its inaccessibility. Mr..
Rockwell attempted to build railroad
connecting the beach with the Staten ISL
and Rapid Transit road at Huguenot, but
his efforts were opposed by Nicholas Null
Ter and his political clique. Mr.. Rockwell.
after spending large sums OF money. n
naly succeeded In defeating the Muller
crowd and obtained all the grants neces-
sary for building the road. IL is said
that Mr.. Schwab will complete the rail-
road during the coming summer.
One OF the most beautiful features of
tho Richmond Beach property, Is fine
fresh water lake covering about fifty
acres known as Arbutus lake. II is fed
by several hundred springs.
In former years II was filled with
black bass and was a favorite fishing re-
sort. The lake empties into the ocean
through a narrow stream which forms
series OF small cascades as il flows across
the sandy beach.
Mr. Schwab's purchase is an ideal spot
for private charity. but would make
handsome country residence IL Mr..
Schwab desired to use 1t for that purpose.