The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-31
Prosperity Is Word That Best
Fits Results In All Lines of
Trade
CONDITIONS IMPROVED
BY THRIFT OF PEOPLE
Depositors Are More Numer-
gu. and Deposits Larger.
Largest Clearings in History
r Acct Big Year

So far as business is concerned, the
year 1916 closed yesterday afternoon.
1t was the biggest business year that
the city of Richmond has ever had.
both In comparison with other years
I and in the aggregate OF business trans
y acted. volume and value.
Those who had money to turn over
turned it over and found more money
under it. Those who had not money
found work and made money. OF the
money made considerable portion.
In a majority Of cases. was saved, for
4 the year was one OF thrift.
Prosperity is d much overworked
WORD often Il is used * describe
! the condition of all. when III applies
merely 10 tic few The word has
been 50 used times beyond count by
innumer1ble voices and ia innumer-
able pieces 81 type in the public press
Has Been General.
Bls ia tIis hss1tf rs ytar 1pst ended
the word prosperity possesses "a de
! scriptiTc pow"i E1ai IT'S b"t''f than
1T has in years cones by, ana 9r The
reason that prosperity Is apparent,
sansi .1,o4e. All business has been
sasger than over before manufac-
tuning ard sabbing retail in all lines,
4 There have been tobs for all who
would work ara WAGES have been
higher than in years Prices OF com
niodtt,es have been higher, 200. Re
tween ms prtee and ih% pay how
ever, there has been "a difference that
has permitted a., ;ntcrs possessed 81
afhiift to SCI ASIDE a portion OF The
earnings eg Iust the time that plenty
MAY be la-Nirg tn thrifty have
saved Back DEPOSITS show that.
Thr banks. posse ssed OF the money
thai hes been addrd - accounts NY
Thrift; in the last year. together with
q tho accommodations Of other years. and
aided by the ope4 alton Of the Federal
N Reserve act which gives 10 Amer.-
iAan money AN eiasts cty hitherto un
known have proftcd much more per
haps than have the business institu-
tions 81 ojhe. lines Of business, But
she banks could not profit did not
other businesses profit, and the fact
--4A&4 f4.a,44t-e.f -s;+,-344aa44A,s banking IN,
ststitutions Increased their dividends or
! asciared extra dividends hut shows
that Others aI~ prosperous, Bank o.
pcsltors embrace ALI sorts OF coTpo-
ratGns mud Individuals Depositors
have crova lE number. deposits and
size
Di,id~atl> Freak Records.
stock holders ia banking instltu-
tipns, in Industrial and insurance en-
n
kYublie service corporations in Rich
naond. have received or Will receive
u Because OF the years earnings more
q than $1,000, goo N dividends, total
unprecedented III the business history
OF the city. In sem-annual dividend
tiGciara.ions. SO tar available, there
4 has been paid out during the last
Twelve months OF will be paid out be-
tween this and aJnuary 5 as n result
haR doc Is.
9S3.S3G,22e. This figure does not In
Sclude the totals of quarterly divi-
y dends. which will bring the aggre-
\ xate well above the 100000 mark.
While dividend declarations reflect
the condition of business in faithful
manner. the best index to business
success is held by financiers to be
the bank clearances. These in Rich
lrond during 1915 totaled nearly
ono billion dollars s93o.2T0.9is.
s Richmond bank elearances in 1915,
E1reported by the Clearing House As
association, totaled $531,26l, 5S4.71 A
u difference in favor OF 1916 OF 1928
ysooS, 363.S1 is shown. In the year just
Y ended more than s3s3.000,oo0 more
passed through Richmond banks in
i the course of the transaction of BUSH
@nena than one year ago.
Little Speculative Business.
That business in Richmond and the
I territory tributary to it. as embraced
Nh the area comprising the Fifth Fed
erai Reserve District--the States of
4 Maryland. the Carolinas. District of
Il Columbia, Virginia and the major
portion OF West Virginia--has been
sconservatively conducted. has been
evenly balanced and without the ex-
tremes of fiuctuation that accompany
nure speculation is shown by the fact
that redlscounts of commercial paper
] Tor member banks OF the Richmond
MsAderal Reserve Bank were about
KID same In 1916 as in 1915.
@ Member banks last year had need
sfQr but little more assistance. from
sahe Richmond Federal Reserve Bank
S3n handling their business than they
Ss6fd In the preceding year. Redis-
oounts for 1916 totaled $45, 6S9,95I17
NV compared with $45.141,370.14 in
44D16.
Rediscounts In the month of De-
IN oqnber. possibly due largely to the
NSt6Ays we're largest Of the year, the
s ~ 6etng $7.sls,S72.2s. November.
&3kh ~ $50, 616.65, had the smallest
discounts total.
$s Prosperous business enterprises
s e lffsnntinuaA IN CacnnA pa0>N