In this context, the verb “to array” means to be dressed or clothed. Richard Cory does not showcase his wealth or attempt to distinguish himself from others; instead, he dresses “quietly,” or modestly, and speaks to them as his equals. Nevertheless, the townspeople cannot ignore his wealth and the differences between them.
The adjective “imperial” means royal, superior, or otherwise similar to an emperor. Richard Cory’s slim frame indicates his high class, possibly because his slenderness is not due to starvation.