Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-07-31
.:C|TY IS EXPERIENCING
me- ~
UNUSUAL PROSPERITY
High Wages, With General Employ
ment, Combine to Make COndi-
! lions Better Than Ever.
no HYsTERIA OVER THE WAR
Merchants and Bankers Are EXercis-
ing Due Caution, and People Cen
orally Are Observing Adn,onition
to Waste Nothing.

Extensive Investigations into bust
ness conditions in Richmond and the
adjacent territory give conclusive evil
vicinity IS experiencing an unprccc-
denied prosperity ii all lines OF bust
ness. This is despite the usual sum-
mer loss. which is at this time reach
ing its crest. and within a few days
will quickly pass. Richmond did not
awake 10 find itself IN such a condi-
tion overnight. as It's business began
TO grow Immediately after the read
justment that came a few months after
: the outbreak OF the war in Europe.
Since that time all lines OF business
have increased steadily. until the out
put OF Richmond's manufacturing
plants and the sales Of Its wholesale
and retail dealers and johbers are
breaking all records On every hand
are evidences of confidence and signs
Of progress. and individuals as we'll as
business houses apparently are feeling
no undue excitement or hys,eria on
sccoun of Americas entrance into the
war.
IN fact remains. however, and this
has come 10 the front within the past
few weeks. There is a con-
.,servatism. not SO much to curtail bust
ness. for that must continue as usual,
but a deep realization that the United
States is facing a crisis. and that every
Industry must be prepared TO weather
ADVERSE conditions Business houses
are buying as usual. but there is a
conservative note in their business with
economies being effected wherever
Norr,kla 49, " "
however. are unnoticed in the general
activity of the business district.
WHOLESALE DISTRICT MORE
THAN HOLDING ITS OWN
In the wholesale district business
has kept up remarkably well, and.
while there has been a slight decrease
in the volume handled. the amount Of
money expended has increased ire
mendously. This is caused by the pre-
Vailing high prices for practically
every article and commodity handled.
1nasmuch as the commission merchants
In food products participate in the
general wholesale and jobbing bust
ness, the healthy crops Of the truck
farmers and gardens are playing 4
prominent part in the problem of re-
ducing the cost of living. Although
there is considerable canning and pre-
serving Of foodstufts. because of the
excellent crops, the commission mer-
chants are ,ransacting their usual
volume of business.
Business men are now making prepa-
ratsons for fall and winter business.
with the retail trade anticipating ex-
cellent business during the closing
months OF the year. At this time
practically every manufacturing plant
is operating TO capacity. and employ
Ing more workmen thar ever before in
the history OF the city. Wages have
increased tremendously within the past
eighteen months, and with the pre-
waiting high prices, a far greater
amount of money is in circulation in
Richmond than ever before.
Probably no more conclusive evil
oence can be presented Of the pros
porous condition OF Richmond and the
adjacent territory than the remark
aoie statements recently issued by the
banks OF his city. Every financial in
st!tut!on has shown heavy Increases
over last year and the one previous.
"hl!e the combined statements make
an extremely encouraging showing.
as d business barometer, however, the
S!eaF!NsS OF the banks are the best
evidence of R!chmond's growth. Fig
u!es just "tssuedi.sho thar this civ
exceeded by large sum the clearinys
n Atlanta. Detroit, Minneapolis and
many other large cities Of the country.
BETTER THAN EXPECTED,
SAYS BUSINESS MAN
Business has been as good as we
could expect. and perhaps slightly
hetrEr 80 . wall l. -. J.;.-- "
elared yesterday. Everywhere there
Is evidence OF much money in circula-
t!on IN Kichmond. and there is un.
expected libevality on the par, of the
people TO buy. To some this has
seemed out Of place. because of the
fact that we must realize the great
task before the United States In the
world war, and must prepare in every
possible way for the economic situation
that is bound TO follow. High prices
OF foodstuts have had some bad effects
on mercantile lines, but this has proved
no great disturbance TO business
However, steady employment and high
wages have made The city unusually
prosperous Business as q whole il
much better than a year ago. and Rich
mond merchants have no cause TO com.
plain about the NolU!ae OF trade ac-
corded them. The greatest difficulty
that merchants now face is the high
prices tZaeted by the manufacturers. a
condition which has TO some extent re-
ouced the buying power OF many mer-
chants. and may result in Il shortage
CT stocks during the coming season
Practically all of the retail stores
nave been reasonably busy during the
past few weeks, and stocks arc heinz
moved about as usual. While there j.
a tendency 10 buy cautiously on IN,
part Of the merchant as we'll as TN.
consumer. this condition has curtailet
only 10 a small extent the genera
trade activity. Travelling salrsm-,
from local houses report that merchant
are buying only in quantities 10 NEE
their immediate demands. In general
though. this is q condition that ha,
existed for VIZ years. and there an
pears no relief in sight until the posi-
ton OF this country in the war ha,
been better worked out.
Many lines Of business. while at ius,
this time are experiencing a lull. ar,
laying mans for the greatest actiyi,,