The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-12-16
NEWPORT NEWS LANDS
SH|Pby|lD|yG PLANT
{ oumcil Passes Ordinance Giving New
Company Site On Boa
Harbor.
CITY IS VERY OPTIMISTIC
Marks New Fra OF Prosperity For
pcninsuinr City--Dne of First Re
rur1is On small Boat Hartor inrrsE.
Hient

Newport News. Va. Dec. H. New-
port News H. to have aauther ship
building piart,
Formai announcement % this ef-
feet was made last night when the
Common Council In monthly session
adopted an ordinance granting a con
tract 10 the General Erecting and I'M
provenient Company. OF Delaware,
with headquarters in New York, leas-
ing a site for the construction of a
pant at the rat.ff!t-i raj seat IA ttzt,-
The grantee is acting for the Cont
mental Dry Dock ard ShiDbuilding
Company, and although the names of
those who are backing the project
are being kept from city officials. the
stability OF the contracting company
is unqueStioned.
The site of the M ~ plant VII en-
brace all Of the land On the easterly
side of the municipal boat harbor,
which il owned by tac citv with the
exception of that reserved for the
Chesapeake Ferry Company, Wash
ington and Newport News Shore Line
Railway Company. William Sublna-
rine Company and others, and will
ly 2,d90 feet The contract specifies
that construction of the plant will be
under way wlthia six lnonths.
This company agrees 10 expend
500, 600 during the first year OF con-
struction. $500, o9o At the end Of the
second year: 81, 900, 006 at the end of
the third year, s2.6o0 GOO at the end
OF the fourth year: $500 900 at the
end OF the fifth year, and 100000
AZ n Il ftr.k
con .ract provides that the lease shall
remain in force for period OF fifteen
years, and that during the last nine
years of that time the operating con-
Germ VIII employ q minimum of q
900 operatiY daily.
The presentation of the contract
for the approval of tho City Council
II last night'J meeting came rather
in the nature of surprise, and mem
bers OF the body are highly optimistic
over the outlook. There was some
question raised as to the identity OF
the parties financin" the project, but
all doubt was dispelled when NUM-
cipai Industrial Agent Case brought
ont the fact that approximately $50
000 had been expended by the COM
oany III making surveys and arriving
at a decision rs to a suitable location
for the industry, and that further
more, better than 60 per cent of the
necessary S16.0O0.o00 bond issue nee
, essary to carry. on the work had al
ready been undcrwriften. lie stated
that preliminary work would shortly
/ be begun.
That the company proposes to op-
crate on a gigantic scale Is evidenced
by the fact that under he contract
the land at the boat harbor already
granted to the Williams Submarine
Company and the Norfolk and Wash
( ington and New York Railway Com
/ pany will be turned over to the ship
building plant in case of forfeiture by
! the original grantees.
During the term OF the lease the
| operating company will pay yearly
! rental of one dollar and il at the end
of the fifteen years all agreements
| have been fully lived up TO. the city
/ agrees Co turn over the property to
| the company in consideration of a
| like sum 1t is also agreed that IN
| case the plant should suspend opera
/ ton, for or during the term OF any
| one year OF the lease that the same
twill bn ipso faCto cancelled, with the
provision that during that year the
company viii have the right to pur-
chase the site for the sum of 5000, o0e
That the building of another ship
yard in the city will mark new era
+, of prosperity goes without saying. IL
! has been confidently expected for the
past few weeks that an announcement
I that such deal had been completed
| would be made, aud II has also been
/ iutinated that another shipYard would
mean the establishing of o steel plant
! In the city. Questioned as TO the prom
ability OF the latter industry being
/ brought here. Industrial Agent Case
! stated last night that it would he 60
/ ing too much in the future TO antiCi-
/ pate that