New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-08
VIRGINIA.

VIRGINIA.
RICIrfOND IRON FoUNDERIEs AND TOBACCO FACTo-
RES RUNNING WITH REDUCED FoRCE-PECULIAR
RMBARRAssMENTs OF THE TOBACCO TRADE-THE
FLOUR MILLS neutrality-suspicious. AT a STAND
STILL IN PETERSBURG.
IFROM A SPECIAL CORRESPONDENT OF THE TRIBUHEl
RICHMOND, Va, Nov. 3.-The two great manu-
featuring interests of Richmond and tobacco
carefully prepared statement Of the business of Rich
noud for year 1s72 which nd in The Dispateh of
jan l. 1873, shows that there turned OUT of the
rolling mils, founderes, machine shops and car fac
OF the city, during that period work amounting
10 the aggregate s6492OOo The value Of the tobacco
and cigars manufactured S. POS 600 The largest
iron manufacturing company is the Tredegar Works
which, previous 10 the panic, employed about 1900
hands about one-haf Of all those employed IN this
branch of business the entire city Daring be past
years this company has been largely engaged In the
building OF freight well as in the manufac-
ture Of wrought aud eastron. The number Of cars
which they have finished has been about 1900
Q year. During the past year two the Tired
egar Works have been building for the New-York
Midland and Chesapeake and Ohio Railroads. The
embarrassment OF both of these companies and their in
ability 10 their engagements with the Tredegar
has caused a suspension in most of the shops OF
the Company and the discharge OF about 90 per cent OF
al their hands. The majority Of these men white,
and IL is believed that very few OF them have saved
enough to support them through the Winter The Old
Dominion Nail Works have reduced their force very
little The remainder OF the iron manufacturers have
reduced their force from ehalf TO hreeourths, so
that aggregate of about OnefOurth OF all tue iron
workers in the city are now employed
Tue tobacco manufacturers have felt the present
ttringeucy the money market 10 manner entirely
peculiar to themselves Every pound Of tobacco before
u leaves tue factory where il Is put up has to to
the Uulted States Goyernmenf tax OF ~ cents, aud
matter how difficult is 10 obtain greenbacks, nothing
else will paw this tax. Manufacturers OF other gOOds,
when they ready for the market can ship them with
ont expense and draw the eousignee for payment,
the latter paying sso the freight charges &c. Before
q ton OF manufactured tobIcco can be moved
the holder must obtain. in some way 500 In United
States currency, with which 10 purchase revenue
stamps It Will not be thought strange, therefore, that
the banks all the country suspended tine pay
currency and tobacco accumulated on the bands
OF the manufacturers the weaker houses had to close aud
the stronger ones reduce their production. III ord
,arv times Iuternal Revenue Collector here deposits
he money which he dairy receives in the national
banks which been designated as Uned States de-
po.itores. and the balance OF funds belonging to the
Government thus held by these banks averages about
2SOo The Collector also, at his own risk receives for
,tamus certified checks, which collected BY the
banks IN which they deposited before the Treasury
Department, at Washington calls for the money This
relieves of the city and makes 1t easier for
the tobacco manufacturers get the they need
Since the present began, the Internal Rev
Collector mere mas Deen " Oo
ington each night his collections during the day. This
reduces the amount Of currencyn the Richmond banks
by the amount Of the balance which Is generally on
deposit there and money scarccr IN ths city than
A. otherwise would be.
Notwithstanding these circumstances and the general
failure Of the banks Petersburg which would natu-
rally acct confidence here the banks OF Richmond have
never suspended payment OF currency though the
fact that they have stood well they have is largely
Gue to confidence which the business men generally
have had them. Some few OF the large toOae"o IN tnu
faeturers have been able to make arrangements with
her 10 forward TO them the currency to pur
rbase stamps for their tobacco and this currency has
been generally reshpped Washington the same or
she next day The demand for tobacco has also cOnsid
eraby fallen of have not been GbIe In the short time
have been 70 learn the exact number OF Tobacco
factories that have closed bat statistics which
have obtained from the Collectors Office show that the
aggregate production has been reduced about two
thirds and the number OF nan IL thrown out OF employ
Gcnt between 1000 and 1000 These people are all ne
xroes aud would have been Idle two or three months
Gurng the Winter had not fle late financial disasters
occurred since /! found profitable to manufacture
Any lowest grades % tobacco during the cold
weather The factories have closed this year two or
ehree months earlier than usual.
l inquired " several manufacturers how their en-
poyes lived when they idle. The reply was that
yearly every one Of them had relative who was
cool in some family, and that they their living from
ihe table OF this PERSONS employer There is sell
oJm any suffering among the blacks account Of being
thrown Of wcrf The granite qusrIes this city,
which furnishing the stOue the new Depart
ment building IN Washington give employment 10 a
great number OF men, nearly all OF whom are still NJ
work heard that few Of the men who are em,ioyed
5y the Government 20 hnish the Stone had been
Charged because tDe contractor cOdd not get out the
:, fast enough TO keep them at work bat The panic
had not materially affected the business The Touring
mills RchuI0nd turned out last about g. Ol5 Oo
worth -four Very Etue OF TINS what Is known as
family four and the sales IN the dOmertic
fxaIN IOuf Ia
for -four. and could MT learn That the demand had
Auen Oh within the past MONTH The owner
al one OF Zoe largest mills here told Saturday,
that the cemaUd OF the makers for wheat very
tfeat aud mat although fto crop in THE sate
SO, Z. Redmond Killers obliged % purchase
Siderable quantities Of Western gheat ~ keep their
lis rAnuing. TINS business requires BAD few hands.
tAe grain and gour OeIng hand ed chiefly ~ machinery,
$40 n0Ge lad discharged. Tue other important
manufactures OF ibis city those OF agricultural iui
@ leuts. furniture. and wooden ware, boots md shoes,
le zers sunac. dyesg ana oils. refined sugars, ana
oo't9h gOO0s. al Of WHICH Depressed ana TIC employ
C. hsFe made Reduction ia their working force q
At petersburg lie failure pi tle majority OF tue banks
"a pc ighi nearly al kadz ~ buslncss standst.
,eYroQucuon c tobacco factories has been reduced,
uftb, much more tim II has been here, md would
1oeDy NEARLY cease we're II lot tl4t much II the
r@tV iade there Is fOr export au1 az ~ moved Ia
sSAd AoSs lVs have 10 De taxed.