The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-04-05
THE OUTLOOK m VIRGINIA.

There is general complaint among the Dusi-
ness men OF Richmond that there is not only not
sufficient capital TO develop the great mineral,
agricultural anu manufacturing resources OF the
State, but that there is not money enough IN the
banks OF the State 10 carry on It's ordinary rou-
tine trade. The cry Is, 1--WE want money ~ and IL
Is claimed by both merchants and bankers that
the capital which IS kept in Wall street ana used
for speculative purposes, ifinyested in legitimate
enterprises, would soon bring prosperity not only
20 the south but to the entire country. IL IS
gratifying, however, 10 see that the business OF
Richmond, Notwithstanding the shock occasioned
by the pamc or lS73 Is steadily on the
increase; thai trade, since that great financial
earthquake. mas sc tied down IN its proper and
natural channels, and that there Is O safety and
souhdness in all commercial transactions not felt
here before snce the close OF the war. For the
purpose OF ascertalnng the views Of the leading
merchants and bankers OF Richmond on the busl-
ness prospects OF the season generally the HERALD
corresponding this morning called upon the most
prominent men in ali branches Of trade.
VIEWS OF THE BANKERS.
After conference with John B. Davis, Presl-
dent OF the Hanters' Nstlonal Bank Isaac Daven-
port President OF the First National Bank; John
L. Bacon, President OF the State Bank Virginia,
and Messrs. Williams Gibson, real estate auc-
tioneers and stock brokers' hnu considerable
gard to the present condition oil business.
They consider that the financial storm
OF 1873 had very wholesome eject. The people
have taken the lesson and are recovering from
the panic. They now look with more respect
upon money tnan formerly, content to accumulate
by SOW accI etIons and through legitimate courses
Tney spend II with economy ana are very cautious
in investing It. Negotiations AT exorbltant rates
are very rare and extra hazardous and fancy en-
idents say that their books Indicate quite a mum
Der OF thirty aeposltors, who are clearly making
money. Business notes paid promptly at
maturity, and II IS unusual Tor merchant 10 ask
Tor u receNal. The general aspect OF tine mer-
cantlIe community Is rha5 or nealtn and sound
ness. ManuiucCdres are recovering slowly but
surely. Inc price OF labor continues low
sequenLy rents and small grocers' oils
are Sow OF colectlon but thele are very
lew empty houses IN klcntnond though building
IN the past year mas been unusually BRISK. The
manufacture vi TOBACCO Is not III as satisfactory
condition as might be desired The increase OF
tue tax ana the nigh price OF the artIcie, based
upon the ejaculation always uncer5alA) OF a snort
crop, makes the manuactui ers very Cautious ana
some apprenenu That tnls may depress or nlnder
general business. 1t was the general opinion that
the Close 81 last year Vas satisfactory. Some men
had Realized handsome profits, many mad done
meet.u
THE TOBACCO TRADE
is Richmond's main source OF wealth, and next
called upon Mr. l.. ID. Christian, or the firm OF
CEilStldu ~ cum, TOBACCO mauulactQrefs. lie
saId ma since the passage OF tue recent tax bill
there had 0een an appa ent indifference among
buyers oI leu. Inc prices ol nne grades OF 10
bacco, vi which the proportion very small,
are wen maintained. but medium and nom
descrIpt Sorts are neglected, and can only
De put or at Il decline. Ine manufacturing lu-
leresLs are quite dull and VIII proOaoy 40 con-
t'nue Tor the next Iuirty days or more, wltn tue
pi OaGctons OF factories NJ THIS poiut ABOUT one
third lheIr present capacity 1t Is proper to state
in taIs connection that the stocks OF plug IN the
market OF TINS state are small; mat the knowlng
keiec, ana certainly tue country manufacturers
Throughout the STATE, VINO have not yet commenced
worA, VIII soon he on the market Tor their supply
1t IS TINS aspect or afalrs winch leads TO the CON
mon expectation oil hgner prices A. leAI alter q
depression, whlol will last tai PROBABLY the 10TH
April On tue whoie the prospect - encourag.
correspondent went next into tile Wholesale gro
Gerry aud general commission establishment OI A.
4 stokes Co. tae largest arp p Ia snat noe 10 the
the nrn, VINO, III response 70 my Inquiry as 70 the
TUE GROCERY TRADE
said From what can see and learn we look
Tor good trace THIS season. Tue present hign
price OF zeal tobacco IN soutnside, Va. aud North
Carolina gives tue farmers a large amount OF READY
money wnicn VIII manly De used In the purchase
oil supplies and IN the improvement OF their Iarns
STOCKS aad agrIcultural implements. TRADE in
these sections mad Overrun its legitimate bounds
Since tue war, but now II As settling do9n 10 It's
proper STATE and we looK Tor bettsr times. me
percentage OF bad QeDts mas been smaller during
1874 ana SO lar into 1875 than In former years ana
tots TACT shows healthier condition OF business.
Tne Richmond ana Danvile Railroad mas a. last
secured q Uniform gauge IRON Rlchnund 70 Al.
Prove Of great advantage 10 TINS cIty, as we VIII
now pc able 10 get Irelgnts without TRANSFER from
TIE cotton states.
LARGE FIGURING MILLS
make this one oil toe BEST wheat markets In the
unHed states, ana we are getting choice wheat
IRON Kentucky, Oslo. Indiana ana Missouri Tue
price OF coin al Virginia and north Carolina Will
not permit farmers 10 raise nogs Ia consequences
OF winch we have 10 looK o tno West ,or Drovls-
ions tnls sort. Taxing our position as q central
point between the North, south and Vest, We can
Ct4n
general outlook IN our own business Is cheerful
ano encouraging. Messrs. W. ;. Donan sons
HARDWARE AND CUTLERY,
expressed mucl the same views "a those OF A. Y.
oltener now, instead OF buyng iarge stocks twice
year as was the custom, aud the Frequency OF
the orders tney receive, attess the Ked degree
of confidence existing between them anu taeir Gus
toners. lively demand Tor R00dS comes rom the
unquestionaDy true that the goous are lnvoiced
BY tee Richmond ldentlcally as iney are " enc
BalLmure anu Philadelphia loo6erA Inc mer-
chants here lack none OF the lacilItes enjoyed Uy
their competitors IN otner cities wnicn nives them
a sale and regular trade. Rates VI freight now
wnere ne snail SUI ply himself and to-uay, despite
ali adverse iunuences, the prosperity OF Richmond
Is assured. IL has god trade. anu IS 10 due
trlm 10 cross lances Vita the pest OF Its COM
HOSIERY, NOTIONS, &C.
Probably the largest house IN THIS line Of bust.
ness here s that or Messra- rnaxton Il Nichols,
Governor street. they expect 10 do tneIr usual
Jopolng trade this season. one OF the members
very curty remarked, owing to the unsettled
condition OF commerce, the uncertain state Of
natl0nai politics anu to short crops our trade may
be so uewnat Incl eased as It Is tue custom VI cur
people 70 Guy nearer nome and IN smaller quanti-
ties IN times Ike the ~ esent.n
DRY GOODS.
NJ MIllhiser 4 Co. say that the outlook for the
spring trade Is good AMI much more encouraging
tnan At tas lime last year, when the effects Or tne
paL1c were so deeply ielr. Tnat event produced
good results, IN the TACT that caused merchants
TO contract tneir credit sales aud oring their
counts to settlement. ALI IN all the genera trade
Is steadily increasing and IS In very nealSOy COLI
dltOn.
THE BOOT AND SHOE TRADE.
Messis. Gardner, Carleton & Baldwin, large
wholesale dealers In boots aud snUes, TANK the
opening months Of UNUSUALLY inactive. FOL
loving as they did uncommOnly prosperous
fali business tue difference was particularly striK-
lng. Ihe boot an0 sn0e trade. lke all Otaer mer-
camille enterprises elt the effects Of toe panic Of
10. 1nry were happy, however, IN beng aOe 10
note many luuicallunS OF al active SIZING
business. THo CO Intry Il not 0yerstocKed pay
ments nave been satisfactory, prices navesteadIly