Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-01
THE YEARS REVIEW.
RICHMOND HELD UP WELL UNDER
THE GREAT FINANCIAL PRESSURE.
Building Operations, the Railroads, Bank
ing Institutions, and Other Branches OF
business Make Gratifying Showing.

short review OF the progress OF the trade
and material development Of our city
for the year just drawing 70 close, !
have TO regret that ] cannot chronicle
the fulnlment Of all that was predicted
In the review which I made for you last
year. At the time of writing that paper,
whilst IL was evident there were dis
turbances gathering in the commercial
and financial world. yet the most far
sighted and sagacious could not then
forecast the extent Of the financial storm
which has almost ragged the world over
during nearly the whole OF this year. In
deed. the year OF 1893 will be remembered
by those who have conducted almost any
business of Importance through 1t as
one Of the most remarkable in history
for the financial and business stagnation
and depression which have prevailed In
this country and many parts OF Europe
and other countries as well.
RICHMOND HAS DONE WELL.
This being a universally recognized fact.
then the wonder Is not that Richmond
has not done all that was predicted, but
that she has been able 10 do what she
has I'm the almost universal state OF stag
nation and depression. ] believe II VIII
be conceded by all who have any oppor-
tunity Of observing the current Of events,
that in all lines of business Richmond has
done about as we'll as any other place In
the country which. like Chicago for in
stance had no especial attractions to
bring people and money here, and
that It has done more In these
directions than about nine out OF
ten cities in the country. The
statement OF this fact alone should not
only convince US that we have firm and
stable basis on which to erect the stTuc-
ture Of our future growth and prosperity,
but should inspire US with that hope and
confidence from which alone material de-
velopment can spring.
NEW BUILDINGS.
4 striking evidence that Richmond has
not refrigerated during the year will Ice
found In the fact that during that time a
large number Of buildings nave been erect
Cd in almost every section of the city.
1t IS true that in many Instances these
buildings had been contracted Cor before
the financial condition Of the country had
reached the crisis il later on assumed. ana
therefore those in that position, as a rule
had 20 be completed; but this was by no
means universally the case. and a large
number Of new buildings have been con-
period Of the year And what has been
true OF Richmond is true TO some extent
a. least Of the suburban villages Of Barton
Heights. Chestnut Hill, and the eastern
and western suburbs of the city.
IL may not be out OF place 10 call at
tenticn. as 1 did in my last review. 10
some Of the public buildings which are
worthy Of special mention, and OF their
present condition; and fust l will notice
cur beautiful City Hall The work on this
has so far progressed during the year that
IL Is estimated IL will be ready for use by
the middle of March. II is universally
admired. and its completion will be hailed
as a great convenience to our people IS
pecially those who have business in the
courts Of the city, which Will then be con-
centrated under one roof, and thereby
greatly facilitate both the examination
of the records and the administration or
justice.
THE STATE LIBRARY.
The public library building has also 50
far advanced during the year that II may
be occupied during the latter part OF the
year 1894. II will b. very handsome
structure and If properly located Tor
that purpose would be a real ornament
TO the city. The Chamber of Commerce
building has been completed during the
wear. and / believe fully meets the eN-
nectations OF every one in every sense
The Jefferson" Hotel Is also progress
ing fayorably, and doubtless during the
coming wear will be far advanced to-
wards completion. The splendid new fac
tories Of the American Tobacco Com
many. the j. Wright Company, and Others
SHOW, that our tobacco trade. whilst shar-
ing in the general depression, Is yet IN
q healthy condition. The new depols'
which were in contemplation, We're nee
essarily POSTPONED by the stringency 81
the times, from which. OF course the
railroads suffered peculiar hardshlps' puI
from what we can understand this post
movement will only be temporary. We
trust that this IS so, as some or our ne
nots are a disgrace 10 any place whlch
has any claim to the title Of city. In
deed. there is but one depot worthy OF
tna name in the city. and really there
ought To be but one In the city, but that
one ought TO be large enough ana Win
annointments suitable TO the accommo-
1a,,nn az all the roads centering here.
Trio grain elevate referred To in my
last review as, being on the taps mas
been built during the year by that en-
,erprising and vigorous corporation the
Chesapeake and Ohio Railroad company
KEW STEAMSHIP LINES.
This company has also established the
steamship line between Newport news
and Liverpool. which was promised ana
cbich ought 10 be Of great advantage IN
many ways to Richmond. The new James
River line which was promised last year
has also been established, 10 the great
advantage Of our city, Norfolk. and the
peopIe on or near the line of That truly
historic and noble river
LOOSE-TOBACCO SALES.
Whilst, as I said before, our tobacco
trade has. like all other business, suffer-
ed from the effects of the financial trou-
bles. vet | am glad to say the loose
bacco sales have revived with that OF
other business in this and other lines,
and we shall be greatly disappointed If
we do not reap large results from the
establishment OF this market for this
great staple here.
JOBBING TRADE.
Taking everything into consideration our
jobbing trade has done wonderfully wen.
Indeed in some few lines OF business
we understand there has been an in
crease whilst the collections have gene
rally compared favorably with former
years. This indicates that the people in
the country. by reason Of good crops.
have not felt the money crisis to the ex-
tent ludl lilOSe III the CllltS nave.
OUR BANKS.
We have not at hand the figures to
show the clearances of the banks for the
year lS93 but of course these must have
fallen of from what they We're the year
previous as the banks feel money crises
as no other classes can or do. But not
withstanding the state OK the financial
world, our banking capital was increased
some during the year. Several of
the banking-houses were improved,
and not only did all of our banks weather
successfully the financia, storm, but we
believe, without exception, they will pay
the usual dividends out Of their respec-
tive earnings. The management of these
institutions has received the highest
concentrations from our business peo-
pie. and 1 believe mas commanded the re-
spect and confidence of the people gene
rally wherever they are known.
OUR MONUMENTS.
Our monuments are something in which
all or our people take a great pride. be-