The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-01-04

hually IN general dry SoodS IMAM III any
other line in the city. The leading mer-
chants agree that the volume of business
done during 1902 far exceeded that or
1901. This was especially the case with
the fall trade. The establishing of the
tobacco market here, and its great sue
cess, had much to do with this increase
Of trade, as there was a very noticeable
difference in the farmers buying. There
was also a large increase in the school
trade.
There is only one thing more that the
dry goods merchants of the city now
want and are asking for. That is an
early morning train between Weldon and
Raleigh, so that shoppers from that part
OF the country could get TO Raleigh at
a good hour in the morning.
COTTON.
The year has shown a big gain in cot
ton receipts over 1901. In that year the
receipts amounted to STAG bales. In
1902 the total went up to II, 289, a gain of
3.543 bales. But the increase in price
was perhaps more remarkable The aver
age for 1902 was between So and cents
a pound, while that for 1901 was about
cents. One quarter of a cent on the
pound is generally reckoned as one dol
lar on the bale, so this means about
three dollars additional on the bale.
This IS tremendous advance
INSURANCE.
1t is generally conceded that the insur-
ance business on the whole has increased
about 20 per cent over that OF 1901.
The North Carolina Home Insurance
Company, our only home company in the
city, increased it's business from $50, 900
to $4,000, anu their business in the city
itself increased in the same proportion
This is the largest fire insurance COM
pany in the State, and it has more pre-
miums than any other.
TOBACCO
As stated above, during the year 1902
Raleigh became once more a good to-
bacco market. 1t has been estimated
that up to this time nearly two mil
lion pounds OF the weed were sold on
the floors of the two warehouses here
this season The movement was set on
foot BY the organization of the Raleigh
Leaf Tobacco Company, which has proved
4 successful enterprise.
Now another company has been organ
lied and has purchased the site on the
corner of Davie and Wilmington streets
for the erection of two additional ware
houses, a prize house and possibly a
stemmery. The site fronts 115 feet on
Wilmington street and about 325 feet on
Davie street. The cost will be about
$1,000, excluding the stemmery. The
name of this concern is the Oak City
Warehouse and Investment Company. 1t
is one Of the biggest enterprises project
ed during the year.
GROCERIES,.
In the Wholesale and retail grocery
and provision line, the increase in bust
ness over 1907 mas been estimated at %
per cent. at the very least. This line was
greatly stimulated by the tobacco trade
and the increase in cotton.
RAILROAD TO THE SEA.
Next month q charter will be asked
from the Legislature for a railroad to
run from Raleigh east to deep water.
If this road becomes a reality, it will
be the consummatiOn of one of Raleigh's
greatest and fondest hopes.
COTTON MILLS.
lie year mas Deeu by large du-
ditions to the various cotton mills of the
city and the building of new knitting
mill, that of Mr.. J. B. Martin, on Johnson
street, which is a large, two story brick
building, and will give employment to
many people.
The Pilot Mill has doubled the size of
its building, and put up several new tene-
ment houses. The capacity of the plant
has also been largely increased, and
from so to rs more hands are employed.
The building is now a very handsome one,
AGO feet long.
The Caraleigh Mill has doubled the size
Of its dials and put in Sc more looms,
making total of 436.
An addition to the office was also built,
and a duplicate water supply.
In this connection, it may be noticed
that the Rolling Flour Mill started to
work again during 1902, and that the
Mills Manufacturing Company nearly
doubled it's capacity all around except
in saving. They put in a new dry kiln
and new planer, spending in all about
SO, 500 in the last two months on i'm
proVements.
BANKING.
In banking, which is perhaps the sur
est means of judging city's business,
there was an immense increase over 1901.
The amount on deposit in the different
banks of the city at the end of 1902 was,
in round numbers, nearly two and a half
millions, a gain of something like a half
million over the previous year. The bust
ness in the Raleigh banks amounts to
about one half million dollars daily.
The establishment of the Carolina
Trust Company in Raleigh during the
year was a fact OF great moment in
the affairs of the city, adding as it did
800, 900 to the capital already invested
in banking in the city and putting in cir
culation about 5000, 900 more than before.