The Democratic advocate., 1906-02-10
Roanoke, Virginia.

In speaking of the solid advance made in
Roanoke, Virginia, last year, The Times, of
that city, gives the following summary, which
will be read with much interest by those of
our citizens who were in the inflated boom
years ago and lost, and by the few who had the
courage to hold on and are now in position
to realize something on the property they
saved from the great week;
A survey of what has been accomplished in
industrial and commercial circles and in the
general improvement III local conditions du-
ring the past year, cannot fail to impress the
most casual observer as to the magnificent pos
sibilities which the future holds IN store tor
the city of Roanoke.
The year 1905 has witnessed the most pros
perous trade conditions in all classes Of com
n.ercial and manufacturing business that have
obtained in the history of the city, and the
extensive character of construction work IN
various lines now being engaged upon, both
by the Norfolk & Western and the Iidewater
railway companies as well as by private indi
viduals, warrants the prediction that the pres
ent year will be one Unparalleled prosperity
and importance in the annals OF the munlcl-
pality.
During the year 1908 permits were issued
by the city engineer for the erection OF l6O
dwellings, 10 cost approximately $500, 10000.
During 1904. there were built AIS dwellings,
costing $3.50, 10000, and Is business houses
costing S257, 900. .00-a total Of SS07, 100000.
For the fiscal year Just closed the number
of permits issued for building residences was
283, and the estimated cost of 'he same was
$676, $500. Permits were also issued during
1905 for the erection of nine business houses,
at a stated cost of $275, ,295.OO, or, total tor
all buildings aggregating S95l, ,S63 90
When il i1 taken into consideration that
these are simply the figures specified for the
purpose of securing permits authorizing the
holders to engage in building, and that the
cost of construction is usually from % per
cent TO 40 per cent. in excess of the estimates
submitted. il is not unfair to assume that the
actual cost of all buildings erected during
1906 or in course of completion at the end
of the year, will amount TO $3.50, COO %.
The record for the past three years shows tie
total number of dwelling and business houses
erected to be SSS at an estimated cost OF
S2O5S, ,S63. 90. The actual cost of these struc-
lures will probably reach -, 500, 10000.
This activity iu building has not been oc.
casioned by speculation in real estate, but Is
the natural and logical result OF having to
take care of large influx of new population,
and due 10 the further fact that the term OF
prosperity which our citizens have enjoyed Tor
the past several years has placed many tam.
lies in financial position 10 purchase lots and
erect their own homes.
The remarkable increase IN recent years 10
the assessed value of real and personal prop
erty is evidenced by the fact that while the
assessed valuation for these items III 1901 was
$10,O54, TO, and in 1904 the sum Of SlS,9i0,
3O6. The levy for 1905 showed the property
assessed to be worth $l46l6, 967, and the -
timated actual value at this time Is $4,000,
O00-a striking Illustration of Roanoke
steady growth and progress.
No better evidence Of improved conditions
and general prosperity can perhaps be cited
than that which is shown by the financial
statement of Roanokes banking institutions
at the close of 1905 as compared with the
statements issued one year prior. The figures
for January /, 1906, we're as follows
Capital stock, $425, 600; resources, s., 129,
065. 03; deposits, s., ,972, s73. IS; surplus aud
profits, $2l7, ,57l.52-
For January l, 1906. these same items we're
shown as follows Capital stock, s425 goo;
resources, 81, ,ss5, lis. 90; deposits, s., 592,-
47297; surplus and profits, $3.50, l3s. Os-an
increase in resources OF 81, l56, ,050.s7, m IN
crease in deposits of $40, 5992l and gain
for surplus and profits amounting to SlS2,
566.56; and this after having paid substantial
dividends on capital stock invested.
Subscriptions have just been completed to
the stock Of new national bank which viii
shortly begin business with paid in capital
of 500, 900.
To summarize all facts pertaining to general
conditions existing al Roanoke at this time,
and the brilliant outlook for the eity's future,
il may be truthfully stated that realty values
are more stable, trade conditions 10 all lines
more satisfactory. and general prosperity
more strikingly evident thaa At any time since
the city's birth.