Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-07-02
MONEY NOT so TIGHT.
es7rra TONE OF THE MARKET AND
euslNess-MeN CHEERFUL 4
r.rc. sums Paid Out In Dividends "a'
Most OF This Pat Back On Deposit
some Bank improvements

Tho situation in financial and conf
,,o-c,el circles in Richmond continues Gu
couraging..
Yesterday the leading topic OF CONVERSE
zion among bankers, brokers, merchants,
manufacturers, aud investors was inc o"''
of President Cleveland for an extra ses-
sion of Congress.
Everybody took more cheerful view Oh
the outlook. There was only one opipion
and that was that the Presidents act.on
couId put have O most reassuring enee..
restore confidence. which Is TUG s hv"s
desideraturn. and bring back q heaitny
financial condition.
PAID OUT IN DIVIDENDS.
A large amount OF money was phiu 1 Sus
IN ,ntarast and dividends yesterday. Inc
Statc Maid the interest on the manuscrip,
bond held bv the Olcott Committee. lnls
interest amounted 20 cl6O,OOV. one si,o
paid out about 10000 OF interest on h s,s
dlebergers and Centuries held mere. lr ",
-, t,,rned loose a good deal of money IN
interest on her debt, and the banks, insu-
rance companies, and building tunds were
ali ready with their dividend checks;
Nevertheless, there was no rush ioi
d,v,dends and interest. and as an evidence
~ ths confidence Of the people IL may 20
mentioned that the usual amount OK potn
went back into the banks TO the circuit y.
accounts. thus strengthening the oanh5
for discounting and afording comherciai
accommodation.
THE WORST BELIEVED TO BE OVER
Though no one expects that matters VII
right themselves IN a day, all agree tna'
the worst OF the strain is over. Inc gene
raj expectation IS that from now on money
will be easier than 1t has been Tor soun9
time past. and that solid foundation WIZ
be laid upon which 10 start tho tall ,raue.
The Richmond banks owe no money,
North. having met promptly the demand
made upon them from New York wheh INC
financial institutions of that city began "
drain their southern debtors TO supply tne
western demand for money. Inc sum Oh
their debt was practically to our own peo-
ME. The approach Of diyidend-day ne
cessitates the outstanding OF resources;
hut as shown above most of the DIVIDEND
money is going back into the banks, there-
by relieving the stringency.
THE STATE BANKS NEW VAULTS.
The improvements in the State-Bank
| Buildlng, which were commenced some
months ago, have been completed luz
enclosure for the working force has been
enlarged by extending it on al sides new
oak furniture of the most improved pat
tern Tor bank purposes has 0een intro
duced: a number OF private stalls, 10 DO
used by the patrons or the Danh wneI o We
s1rinp to handle their securities. nave
been added TO the convenlences OF the IN
stltutlon. and q new vault has been ouiIt.
The latter is q three-story structure
-ather. is composed of three vaults. Inc
foundation, which IL IN the suo-ceilar
of the bank building, rests on several leet
of interlaced railroad iron hlled IN WIN
IN =
used books and papers of the bank. Inc
next story IS a similar compartment Tor
the storage of boxes and trunks or silver,
ware and other valuables. and the thlrd
or top compartment, which Is on the
bank floor proper. is the satety-deposls
yault. The two cellar vaults are lined
with boler-iron and provided with porn
fire. and burglar-proof doors. Ihe salety |;
vault 10 16 feet long, "a feet Wide. anu
| feet high. 1t contains 4l6 satetyiuep
boxes and six closets, the boxes beng OF
various sizes. The inside OF the vault IS
! lined with 2j5-inch Brooklyn chrome steel.
and the stronghold has two entrances
regular and q manhole entrance, each
! provided with two doors or the same cna-
racter of STEEL 3 inches thick. Inc inner
doors are each furnished with two com oil
nation locks and the outer doors WIN
| triple movement automatic TINS locks:
/ lle Wills are very NulCh' ht4V
| the space between the interior and exterior
casing being both fire. and burg lar-dety-
inc. The manhole is to be used IN case
the locks to the regular entrance become
deranged. Then a boy can be put through
the emergency entrance and open the door
from the inside.
NATIONAL BANK OF VIRGINIA.
The National Bank of Virginia is also to
| follow the lead of the Planters, the state.
the First National, the Merchants Ma
tlonal. and the Citizens, and make. I'M
proyements. Ii will IN few days remove
to the building recently occupied Is tenn
! porary quarters by the Planters. and It's
! own clearinghouse will undergo re-
modelling. New furniture will be intro
duced, and an aisle will run down the
| centre of the banking room. The working
! force will be distributed on both sides or
| this aisle. The First National Bank build
ing was erected after the war, but the pres
ent vault OF the bank went through the
fire at the evacuation of the city and Its
! contents were unframed.
.~zu-u..x<.-sz.=ss~s-r~<zs
Twice as big az the Bank of England.