The New York herald., 1873-11-15


ness and trade o all classes. To their credit De II
| said. the merchants and mechanics have nooly
stood upt0 the trying emer encies o. Inc times,
and ike men, nave lent each other q helping hand.
They exercise mutual iorbearance with eacn
cessfally weathered the storm. No failures among
them OF ans Importance have been reported aud
they are now looking anxIously forward to the
dawning OF bignter day.
Perhaps the department OF trade, SO essential to
prosperity In Virginia, that has suffered most by
tne financial troubles IL
TIE fOBACCo TRADE.
In the first place. out OF about seventy factories
some oil which nave entirely suspended operat ons
In the last TWO months, iully 5000 persons usually
employed in the manufacture of tobacco at tins
season have been thrown out o. employ
ment. OF course women and children, a great
majority oil AL DeiDg negroes are included IN th.s
number. and it Is anticipated tnat great sulier-
ing among them Will ensue IL times do
not improve. The second effect injurious
10 this industry and trade original ng from the
monetary crisis, notably at the Tobacco Exchange,
Is that the transac IONS IN the weed during The
past two months have been reduced at least three
fourths, II not 0ur-Hitns, while prices have
s.sarunK terribly 10 use the expression ol Mr.
Peyton Wise. upon whom called ior Information.
The third and most important effect upon tne ma
II nal government resulting from the panic Is that
the customary revenue 0l the United States ,oy-
ernment from the article OF tobacco In this cty has
been reduced iuily tw0-thlrds. The results ex-
hibited IN these statements and oil the Il. IN
cuitles under which this burdened tobacco trade
iaboiers have been largely contributed 70 by tne
action OF the government itself. This consists In
the lact that tue treasury Department at Washing
ton mas ca sed tae daily revenue collections TO oe
transmitted TO Washington instead OF being
deposited IN the banks here, as was the
more liberal course prevail, and especially
could the government be induced to Keep
it's collections here on deposit in the national
banks lor say SIXTY days IL Is not doubted that its
own revenue would be immediately increased and
that certainly great, II OILY partial reliei, would
thereby be extended TO the mass OF
CJL0RED LAB0RERS
who are entirely dependent Tor daily bread upon
the life OF the tobacco trade A similar state or
affairs with regard TO the tobacco trade exists In
the cites OF Petersburg. Lyncnburg, Danvie. and
several towns where tobacco IS largely manu1ac-
tursd. Next IN Importance IN point OF material
THE IRON FoUNDEnY TRADE
and business In Richmond. The great Tredegar
Iron Works Company, In consequence OF the failure
Of the s.aI various railroads or Which they
rails, to pay tnen have been obliged to
largely ourtall operations the ,enect o. the
usually EMPLOYS 1,SOO 1,40O mechanics,
aud laborers has been very serious. All loid rom
500 TO l,oo0 0, THESE emp.oyes nave been dis.
charged. The works are entirely suspended
and only moderate working force OF about 200
men are now employed In the entire works The
wages nave been also temporarily reduced from
ten to twenty per cent. AT TanL ers Iron foundery,
Talbot's and Others, nearly similar reduction
mas taken place in proportion TO the number en-
plOyed AT eacn. The Old Dominion Nail Works alone
have weathered tie storm ana have not reoured
their working iorce materially. 1t Is estimated
that some eight or ten Thousand laborers anu me-
chanics ale THROWN out OF employment in this city
alone, among whom there will be intense suffering
daring the winter months II some provision lor
their sustainance Is not made.
In importance, III richmond, the nour trade. The
Gallego FIGURING Mills sfand second TO none in tne
United States III the essential particulars oil the
quantity manufactured the quatIty Il the article,
and the iarge export trade winch ID done In 1t.
Among It's remarkable qualities Is one-that trans
| portaUon to ioreign countries by sea does not
| elect lib taste, flavor or condition, owing to
which nearly all the dour manufactured here is ex-
| ported to Brazil and other south Am arican coun-
| trles. TWO mlllers with whom had an interview
inlormed me that the price oi Richmond nour mad
| been less effected than any 9th r In tne country
| by the laie pane, though the demand had cunsld-
erapy anen on and wnat s sold is not at the
usual trces. The short crops In the state had u
tendency TO Keep up the price OF wheat the re-.
cepts OF which sixty days ago. 5000 to 10000
bushels daily were now reduced to 1000
ago all the mills here were at work with
a iull iorce. Out OF the STOCK on hand and with
the present reduced force the largest mill there
several vessels now beng 10 .ded with 1our Tor
[ expectation: two ior Rio JaneiTo. one Tor Rio
Gran.e and one for Liverpool Tue shortuess OF
the supply OF wheat, the hghtness OF the stock OF
fiour on hand and the usual dulness oil the trade
| In tue winter months, taken In connec Ion with q
| large demand Tor Europe, will tend TO keep the
prices OF Richmond nour up to its usual standard.
hands, and one oil them has reduced It's lorce over
three ourtns. 1t is estimated that about lorty or
coopers, teamste,s $, mixers and laporers have been
discharged, and they Will have 20 endure great dis
| tres5 du,i ing the winter months. This IS the only
sad feature OF milling here IN connection with tue
financial crisis. For Information concerning
THE BUILDING INTERESTS.
| called uDon Mr. M. j. DimmocA, architect, at his
| once, over Lancaster's Bank, on MAIN street. He
informed me that SO ar the tate financial panic mad
had no effect whatever on any u the various build
! ing interests in Richmond. II was true that no
new buildings were nov beng put under contract
but ali those in progress OF erection when tile panic
| took place were still beng built and are bel e
! pushed towards complexion as rapidly as II there
| was no depression IN the money market. he men,
toned the Case OF ohe gentleman who was erect ng
| a block OF elgnt houses when the financial crisis
took place. At first tins gentleman Thought ol sus
penuing operations entirely because o. q doubt as
| TO his ability to meet tue payments oil his con-
1 ira tors when they ell due. lie did not suspend,
4 n but iu
force and happily weathered the storm One
| large employer told Mr. Dimmock few
tnan he mad now employed, and so far as he knew
q single hand had not been discharged ir I'm anv
employed in the various branches Of bun ding were
now ut work, 1t was inevitable that as soon as the
would be total suspension in this line THIS
| would, however, bring the mechanics to the win-
ter season, when building operations usually cease
| and proDaoly by the opening oil spring the money
| market woula be IN more healthy condition and
employment would be ample to meet the demands
| all the resident mechanics. An effect oil the
! panic has been rather to cause an
ADVANCE IN THE REAL ESTATE BUSINESS.
, People whose confidence IS now snaKen In banks,
railroad stocks and other investments are sinking
their su Plus funds In good real estate, city prop
er pudns lots anS city propert OF a KINDS
| has increased, ana consequently prices have ad.
vanced slightly, and SPECTATORS in this branch
| have their hands lu at present. In the wholesale
| DRY GOODS JoBB1NG TRADE
the season opened with the hyeIiest and best
prospects. Alter the panic the business began TO
| assume decidedly gloomy appearance, but 1t
shortly revived ana enabled the dealers to live at
| least. Since, and within tle past month, opera
| tons have peen better, but the small merchants
IRON the inferior are without money, and trans
actions have mostly to be made on ninety days.
| Demands and orders are as active as ever, but
money tmere IS none; hence IL mas oeen the policy
OF dealers to induce the retailers to purchase US
little as possible and TO pay Tor wnat they get at
| the EARL st moment Frequently consgnments Of
wheat, tobacco and country produce are made to
| commission merchants, upon which the dry goods
men told to draw lor funds TO meet tner bulls
but sales beng made OF the produce, there Is no
| money forthcoming and traue is necessarily stag.
mated.
THE RAILROADS AND TRANSPORTATION LINES
centring at this point nave been more or less
affected by the financial troubles. and also 10y the
| yellow Iever at the Soutn. The Chesapeake ID
ONO Railroad was the first to feel the crash, owing
to the embarrassment O its financial agents in New
York. ana also to low water In the OHIO River,
| which for q while destroyed their Western con-
| nectlOns. Thc business OF this road under the