The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-04-23
Substantial Progress Being
Made in All Lines and
Sales Running High.
MILLION This MONTH
improvements and Investment
of Corporations Help to Keep
Up Valuations Nothing Is
"Boomy"; All Real and
Sound.

Not only is Richmond of the apex
of financial matters, but Its reaity
valuation Is far beyond the normal,
and In excess of that OF any city OF
it's class in the country.
This is shown not only by the steady
business which flows toward the
Chancery Court, where all deeds must
be entered upon record. but 1t is In
dicated by the great amount OF busi-
ness shown by the reports of Building
Inspector Butler.
The record of the inspectors offics
shows that much of the realty busf-
ness is of the most substantial char
acter, consisting mainly OF TRANSACT
tions in which individuals are invest
ing for home purposes. More tnan
seventy-ffve per cent of the building
operations shown by the building In
spector indicate that homes are be-
ing built for occupancy by the owners
OF the property.
Substantial Progress.
According to this. the critics in
financial and other business matters
say, there Is an indication OF real. sub
stantial onwardness, and that the
great transfers of money mean that
the money is being distributed among
the spenders and investors as we'll. and
is being put into permanent monu.
ments to the stability OF local credit.
There are several causes attribute
able to this steady progress. There
have been no bubbling booms. Several
years ago Richmond went through
one of the greatest seasons OF ex-
pansion experienced by any well-ds-
yeioped city. A number of sky
scrapers and other buildings of mag
nifcent proportions were erected.
Among them were several large apart.
ment houses and Office buildings.
Some pessimists at the time had
doubts as to the ability of the city
to support them. Those same men
are now optimists Their fears were
based upon bad foundations.
Richmond has not only taken care
of the great structures built within
the last decade. but 1t Is even now
building more. and looking forward
to the construction of even more.
Suburbs Help Much.
The suburban development has
helped to boost the credit of Rich
mond Crowded conditions in the city
have driven home-seekers to the sub
urbs. The suburbs have grown al
most beyond bounds. so fast had
they grown, indeed. that the city
fathers felt IL their duty to call =
halt and now much of the suburban
development OF several years ago Is
within the city limits Being In the
city limits, they are receiving many
benefits which they did not receive
before.
The City Council and the Admins
trative Board have acted wisely In
the manner in which they have
handled the situation. They have
gone ahead as requirements demand-
ed, and have made improvements not
, too slowly nor too rapidly Had the
improvements been made too rapidly,
history OF "boom towns" may have re-
peated itself. and the suburbs might
have suffered accordingly But the adj
ministration has gone along carefully
and gradually, and the suhurbanite
has little to complain of. even though
he now be full-fedged citizen
An examination Of the records In
Chancery Court. Hastings Court. Part
III. and In Henrico County. will show
that a great majority OF the transfers
are between agents and persons who
wish to establish homes.
The fact that many people are seek
ing homes, means. OF course. that
there Is prosperity abroad In the land
especially the land hereabouts-
and that the individual Is deriving
some benefit from that prosperity.
Injection OF Capital
The injection Of capital in large en-.
terprises has had much to do with
the progressive character of the real
estate business here. Surroundings
always help place valuation upon
property,
Richmond has within the past ten
years built a dozen handsome and
costly school buildings A number of
parks have been opened, Streets have
been graded and improved. True. In
some OF the latter instances the city
Is subjected to suits by persons whose
property has been greatly improved By
grading. guttering and curbing. A.
a matter OF fact. the little temporary
damage done property In minor cases
will result In few years to greater
valuation of the property.
Many manufacturing concerns have.
enlarged their plants. have built new
houses. have employed moro men. y
All these things have resulted. ~
was to have been expected. In in-
creased valuations. and In increased
population, which naturally means .
greater general distribution Of money.
all OF which goes to the bettermsnt o.
the community.
The Improvement Of streets. the In
stallation OF water and gas pipes and
sewers. have tended to increase valu-s
atoms. The city has done much a1ong
this line. Therefore, the property
owner falls into the happy prosperity
family. and the purchaser. which =
shown by the records, being fully able
to do so. gets the best he can for the
amount OF money he has been able
to accumulate. and the community
goes on in its chase for supremacy n
the business, commercial and financial
world.
Enormous Increase.
One instance, brought to mind ~
the decision OF the Richmond. Fred
ericksburg and Potomac Railroad
Company and the Atlantic Coast IlAo
Railroad Company, to build tho 49,
out boldly. Ten years Ago the prog
erty In that vicinity wag ~ = low 60
That side Of Broad 81. wAs IN Heu41ce
County. II was purchased ffom -
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