The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-01
TINES MUCH BETTER.
BUSINESS HAS IMPROVED AND coll
LECTIONs ARE GOOD.
EXPERTS ON TRADE CONDITIONS.
Representatives of the Mercantile
Agencies Unite I'm the Declaration
Tint Affairs Are I'm Good shape and
the Outlook Bright.

The representatives here Of the large
mercantile agencies Of the country unite
i'm the declaration that there has in re-
cent months been a decided Improvement
in business and that the outlook for 1923
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
Bradstreets Agency here; Mr.. j. II.
Witty. OF the Improved Mercantile
Agency. and Mr.. William j. White, local
manager for the Snow-Church Company
Mr. James w. Young. Dun & CO.'S man.
ae,r here. shared in these conclusions
but the close Of the year found him so
overwhelmed with pressing work that he
excused himself from writing statement.
Those of the other gentlemen follow:
RETTER THAN FOR YEARS.
Mr.. Howard !. Herrick, Of Bradstreets'
said:
"Tbore has been more healthy condi-
lion of business in Richmond during the
year 1898 than has prevailed Tor many
seasons. Careful inquiry among the Job-
bers ana 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 b
per cent II is more difficult 20 ascertain
the result in retail lines Of trade, but II
is thought that the showing among re-
tailers is nearly as good. The almost
General report IS that collections for the
wear have been satisfactory, In fact, very
good. taking into consideration the very
low urice OF cotton. Perhaps che 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 in probably fifteen years.
In the city Of Richmond there We're htty-
two failures reported In the year lo3',
with total liabilities OF sSiO5w. In 1873
there were only thirty-hye failures with
have been several parties who have APP
piled for relief in bankruptcy and who
are not counted in this record, for the
reason, that having made an assignment
some lime before, the failures had been
counted in previous years.
The outlook for 1899 seems 10 be very
bright. There is a general feeling that II
will be the best business year Richmond
has had for a long period While. there Is
no evidence Of any boom" there are
many things which show n steady and
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 IT'S conversion into electrical
power. are only a few Of the great enter
prises that will help to bring new pros
petty 10 our city. The general feeling
among our merchants and Businessmen
is very hopeful, and, better still, 1t IS sup
plamented by an earnest determination
on the part OF every one TO make the
year 1893 a red-letter year IN the business
history OF Richmond.
TIDE TURNING TOWARDS US.
Mr.. ]. II. Witty. Of the Improved
Agency. feels that the tide Of prosperity
is turning towards Richmond, and that
the present year has considerable in store
Tor ali interests.
"That there was some snap lacking TO
business I'm general last year" no sald'
"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. still there was not sufficient time
20 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 Tho active operations or the
new ship and machine-works, new paper
mills. and General Electric Company are
expected 10 be merely the beginning Of
an impetus 10 the manufacturing inte-
rests of the city. There are also num-
Der OF changes and some new firms in
the jobbing branches-all tending 10 In
dicate an awakening 10 a state OF activity
with the turn OF the new year
"The history Of improved street-car
transit I'm am the larger cities has been
one Of prosperity 20 the community, and
the bringing Of the suburban and near
hy territory into close touch with the
city has proved 10 be Of incalculable
benefit. Richmond appears 20 be realizing
how valuable her streets are In this re-
spect.e and indications are that she Win
soon spread out more ian this direction.
ana with increased activity and further
Improvement IN street and suburban pas
seneer railways. real estate will not be
long in awakening from It's 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 Of
industry, general business has maintained
a satisfactory position. As compared
with q year ago, there has been a great
increase IN the volume Of trade but II has
come about so gradually as TO attract less
attention than II otherwise would. View
ed from week 10 week. the changes In
conditions are scarcely percepuble. II
is only when comparisons are made OF one
season or year with another that the
really great Improvement that has taken
place I'm the situation becomes distnc-
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 Il is popular TO
tax small profits, and decidedly unpopu-
lar 10 bring TO notice the different
methods i'm process designed to reduce
the cost. II IS this very low cost. how
ever. that f. enabling the United States
20 undersell the world.
Bank clearings are generally regarded
as the most reliable trade barometer.
Special circumstances may occasionally
arise. which for time will exert an IN
huence on the exchanges; but these
periods are usually brief. and seldom ar
feet the result for a whole year OF even