The times. [volume] (Richmond, Va.) 1890-1903, 1902-12-28
PETERSBURG HAS
MADE PROGRESS
The Business Of the Past Year
Has Been Remarkable.
J09BERs GREATLY PLEASED
Fancy Grocery Business Has Extende d
Its Territory, REACHING Out to Sew
era! Southern S ates Which
Hitherto Dealt Eisewh ere.
fsnecial DISPATCH to The Times.)

(special Dispatch to The Tiu1es)
PETERSBURG, VA, Dec 27.-The ci0,e
of the present year will find business In
Petersburg In q more healthy. active and
progressive condition than 1t has been
al any time since the close or the Cifll
War In many branches the Increase IN
business OF the past year has been re-
u1arkabe. The average increase in all
the branches in this city will be fully ~
Ter cent. On jobbins house reports an
Increase Of 50 per cent In business this
year over any preceding year. Other man
uiacturers and who.esa.e dealers report
!, So per cent. increase in their business.
Tho fancy grocery business during the
past year has extended its territory,
reaching out into South Carolina. Geor-
sia, Mississippi and Tennessee.
The wholesale grocery business has been
VOL king within its usual ter. tory and
he merchants report an average Increase
OF 20 per cent. In some cases profits have
not been as large as heretofore. but the
volume OF business has resulted In net
gain and the le, ger accounts are in eS-
cellelt shape. ~ edmond travelling sales
guIar!y each week for teny ears. says
that his sales in Petersburg for the past
year a.e one-fourth more than they have
been at any time since he has been In tn S
territory He commented on the actlvl-
ty and progress.veness among the HeF-
chants in this city that has resulted in
e,t competition. Several jobbing houses
he reports. will increase their travelling
lorce at the first OF the year. and ne
referred especially to the fact that the
merchants generally have their credit &C
counts in a better condition than ever be-
fore This is probably due to the early
selling Of the crops by the farmers.
In the territory surrounding ersours
there has been considerable srcc7s
among the farmers. and those speclaiiH
raising peanuts and tobacco have dis
posed of their crops early this year ahd
settled accounts that heretofore nave run
for many months. and mao oaiance -
deposit in bank either on certificate O.
deposit; and the fact that SO many Q:
these bank customers have never mere
sofore had accounts has Increased the
oumber of the bank depositors in Peters
burg nearly twenty-five per cent
The business of the banks has. OF
course. kept pace with the general bust
ness Of the city. Large sa.es OF 70
oacco and peanuts by the farmers Great
I'D considera Die demand for money which
was promptly fet by the banks. lne
banks of Petersburg, with one or two
exceptions. lend only to borrowers en-
Gagged in legitimate commerce. lend ns
no money for speculative purposes. Inc
general increase in the banking business
Of Petersburg IS about 20 per cent. over
last year and the Increase OF last
was about Is per cent over the prec
ing year. Loans this year have Increased
fully Is per cent. and borrowers IN
legitimate commerce find easy acoommo-
dations through their banks. Never
fore has there been time when the
banks have run so long without being
nterefered with by failures. During the
wear there were only two failures IN
Petersburg among merchants doing a
banking business.
A healthy condition exists IN Peters
burg in every branch of business. re-
sulting from general prosperity and from
local competition. The large manu- &C
turers rc'.e sufficient labor to carry on
their inc .tries. but there is no idle lahor
In Petersburg. The people in all
branches. are proud Of the showing
Petersburg has made within the past
twelve months. and so marked is the
existing conditions and the imp oveme-ts
that have recently been made in Peters
burg that no visitor to the city falls to
appreciate them.