Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-01
TINES MUCH BETTER.
BUSINESS HAS IMPROVED AND coll
LECTIONs ARE GOOD.
EXPERTS ON TRADE CONDITIONS.
Representatives OF the Mercantile
Agencies Unite In the Declaration
That Affairs Are In Good shape and
the Outlook Bright.

The representatives here Of the large
mercantile agencies Of the country unite
| in the declaration that there has in re-
cent months been decided Improvement
in business and that the outlook for 1893
| is bright
They say with confidence that trade
conditions are more satisfactory than
| they have been for several years and con-
firm the statement of our merchants that
collections have been exceptionally good
of late.
Statements along these lines have been
secured by the Dispatch from Messrs'
Howard J. Herrick. superintendent OF
| Bradstreet's Agency here; Mr.. }. H.
| Witty. Of the Improved Mercantile
Agency. and Mr.. William ]. White. local
manager for the Snow-Church Company
Mr.. James w. Young, Dun & Co.'S man
ager here. shared in these conclusions
but the close Of the year found him 50
! overwhelmed with pressing work that he
excused himself from writing a statement
Those of the other gentlemen follow:
BETTER THAN FOR YEARS.
Mr.. Howard ]. Herrick, of Bradstreets,
said
"There has been a more healthy condi-
| ton Of business in Richmond during the
year 1898 than has prevailed for many
| seasons Careful inquiry among the job
| bers and manufacturers show That there
has been an average increase in the
volume Of sales of about 10 per cent.
| While the volume Of business has in
! creased to that extent, the value OF said
business has probably increased about
per cent. 1t is more difficult 70 ascertain
| the result IN retail lines OF trade, but IL
| is thought that the showing among re-
tailers Is nearly as good. The almost
! general report is that collections for the
year have been satisfactory. in fact, very
! good. taking into consideration the very
| low price Of cotton. Perhaps the most
remarkable record Of the year is the fact
! that for the months Of November and
December in thirty counties of this state,
| including the cities Of Richmond, Peters
| burg, and Danville. there has been only
one failure reported. This record has
had no parallel I'm probably fifteen years
In the city of Richmond there were ffty-
two failures reported In the year 1897,
with total liabilities OF S9iO3O0 In 1898
there were only thirty-fve failures with
total liabilities Of only $1iS,JOO. There
have been several parties who have APP
oiled for relief in bankruptcy ana VINO
are not counted in this record, for the
reason that having made an assignment
some time before, the failures had been
counted in previous years.
The outlook for 1879 seems 20 be very
| bright There IS q general feeling that 1t
will be the best business year Richmond
has had for long period. While there IS
no evidence Of any Doom" there are
wi
vigorous growth. Particularly is this so
in the line Of manufacturing The estab-
lishment Of a large ship-building plant,
a large paper and pulp-mill, the prepara-
lions to utilize the water power of the
James by its conversion into electrical
power, are only a few Of the great enter
prses that will help to bring a new pros
perity 10 our city. The general feeling
amont. our merchants and businessmen
Is very hopeful, and, better still, it IS sup
plemented by an earnest determination
on the part of every one TO make the
year 1899 a red-letter year In the business
history of Richmond.
TIDE TURNING TOWARDS rs.
Mr.. J. H. Witty, Of the Improved
Agency, feels that the tide of prosperity
is turning towards Richmond, and that
the present year has considerable in store
for all interests.
That there was some snap lacking 10
business in general last year" he said,
"can hardly be denied and the increases
I'm sales were only obtained by supreme
efforts There were more operatives at
work and labor found steady employ
ment SIN there was not sufficient time
to recover from past stagnation. But
with continued employment the present
year storekeepers will soon feel the ef-
fects Of the additional money in general
circulation The active operations of the
new ship and machine-works, new paper
mills, and General Electric Company are
expected TO be merely the beginning or
an impetus TO the manufacturing inte-
rests OF the city. There are also num-
Der Of changes and some new firms in
the jobbing branches-all tending TO In
dictate an awakening 70 state or activity
with the turn Of the new year.
The history Of improved street-car
transit I'm all the larger cities has been
one Of prosperity to the community, and
the bringing Of the suburban and near
by territory into close touch with the
CITY has proved TO be Of incalculable
benefit Richmond appears to be realizing
how valuable her streets are in this re-
spect and indications are that she VIII
soon spread out more in this direction,
and with increased activity and further
Improvement In street and suburban pas
senger railways. real estate will not be
long in awakening from its present dor
mant state"
GREAT INCREASE IN VOLUME.
Mr.. William j. White. Of the Snow
Church Company, writes.
with the exception Of a few lines or
industry. general business has maintained
a satisfactory position. Az compared
with a year ago, there has been a great
increase I'm the volume Of trade but it has
come about so gradually as to attract less
attention than II otherwise would. View
ed from week TO week, the changes In
conditions are scarcely perceptble. 1t
is only when comparisons are made or one
season or year with another that the
really great improvement that has taken
place i'm the situation becomes distinc-
lively apparent The one unsatisfactory
point i'm the situation at present Is the
small profits that are being made on the
goods handled. but then it is popular TO
talk small profits. and decidedly unpopu-
lar TO bring 10 notice the different
methods in process designed TO reduce
the cost It is this very low cost, how
ever. that is enabling the United States
To undersel the world.
Bank clearings are generally regarded
rs the most reliable trade barometer.
Special circumstances may occasionally
arise which for a time will exert an IN