Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-01
WORKON TIE RIVER.
ubc Net ucduction-Necr oIogy-Railroads.
4 Summary of Local
Events.

Richmond IN 1909. in common with nll
bihcr cities Of the country, experienced
commercial, Industrial, and financial de-
PRECISION.
But she stood the ordeal bravely. and
Turns over the first page of 1891 fun
q hope and confidence
The Dispatch. as has long been its Gus
You accompanies its New-Year's greeting
with a statistical record Of the year proceed
ING and while. as abstract propositions
fome Of tho figures. az compared with
Ibns. Of 1850. do not make an encouraging
fhoW,ing a review OF the exhibit as
whole cannot but prove gratifying.
When the economic conditions Of the
country at large during 1893 are con-
tdcrcd It will be seen that Richmond
has held her own better than the most
tanguinc could have expected.
The spring Of 1898 opened with bright
Building prospect and there has been
satisfactory realization of that prospect
pespite the financial strain that came
upon the community. 1t is ESTIMATED
that during the year nearly as many new
houses were erected as in 1892. The City
HAL IS practically completed the mag
fifccnt new Chamber Of Commerce build
lng was formally opened on last Thurs
bay night work on Tho jefferson. the
new hotel which viii be one Of the
largest and handsomcst in the South, Ia
progressing steadily. and 1t Is expected
that the state Library building Will be
FINISHED by September next
BANKS AND BANKING.
Richmond's banking and general finan-
rial record for 1898 affords striking
demonstration OF her soidity. the con-
Idence of the people in the management
pf these Institutions and of the fact that
the current of business. while it ma
furalIy lost In volume. kept flowing in
conservative channels ON August 10th
last the banks. as well for the protection
Of the business interests of the city AT
large as for their own protection, found
j. necessary 10 suspend the honoring OF
checks with currency and resort to the
eertined-check system. This action was
rheerfully accepted and endorsed by the
businessmen and manufacturers. and
khe system. which continued in vogue for
some weeks, worked admirably. All de-
partments Of trade stood shoulder TO
shoulder with the banks in the matter,
ind the banks in turn did everything
ln their power 10 carry their customers
Abe result was that the banks came
Out OF the furry unscathed and there
,ere few business failures of any mo-
Al. Al, 81,
were N2s.0S0,1U.7S. During 1898 they were
fcstimated as 10 one day in December),
flilM2.95422 Decrease. 81. 167. 223 81. The
percentage OF decrease Is much less than
r. shown by many other cities both North
ana South.
Richmond starts the new year with a
banking capital and surplus of s5.25O.OoO.
BIO this. however. must be added the
Facilities for accommodating business af-
forded by the seventeen building and loan
companies and associations of the city
An OF these are in good condition
end are valuable factors in the upbuild-
ing Of Richmond.
MANUFACTURES.
The manufacturing exhibit for 1898
shows 9i5 establishments. 20,e3S hands
employed. sl65l9750 capital in business.
and sales amounting to $S6.S0SSs. The
per cent. of decrease. as compared with
the figures OF 1852. is not as great as
hight have been anticipated. The de-
crease In internal-revenue collections was
e24S.2iAc5. but IL must be borne in mind
that during the currency scarcity some
Of the tobacco-factories had TO shut
Down temporarily. and Others only
worked half time. This was due 10 in
ability TO get the currency with which
10 purchase the stamps. and accounts
partly for the falling of In the manu-
tacture OF tobacco.
The jobblng trade also suffered a shrink
ege from the figures OF iSse, both In
emount OF capital emp:cyed In the bust
hess and In amount OF sales. The sales
in 1889 were Sc. 81. $50. and In 1898 they were
ks2. 1880 The decrease. however Is NOT
rs great as might have been reasonably
tApected.
In the post-office statistics there was a
falling of IN receipts OF s6.9SN. This Is
accounted for very largely by the decrease
On the number OF circulars sent out dur
lnE TIE year az SOIlptStu Win lHS. Win
Abe advent Of the financial troubles OF
ahe year, conservative merchants ana
raaufacturers ceased 10 a considerable
extent 10 solicit business ana increase
Hheir risks.
MUNICIPAL STATISTICS.
The assessed value OF real estate In 1888
MAS si2.e2s.zsi; OF personal property. s20.-
ts.c6i. The total gain in city taxes over
Use was s22V112 The total bonded debt
Of the city Is ss.72lef2 eo--an increase over
,ssz OF si9s.577. The total receipts from
ssater-rents was siA,coo-an increase ~
szEo.7s. During the year n.s29 feet Of
water-main were laid. There was heavy
falling of Ia the consumption OF city gas,
and the capacity OF the wcsks was In
creased. and the cost OF manusacsure d.
unfinished By the introduction Of water
Kas plant at cost " szs.eoa
The Fire Department maintained W.
hlst, standard OF efsciency during 1883
No Dew buildings were erected but ~