The New York herald., 1873-11-15
Letters Indicating the Course
OF Depression.
HOPES FLATTERING TALE
The Possibilities of Industry in
Renewed Activity.
MAINE.

lf 1t affects them at all 1t will be quite favoraoy
kn the lessenng OF workmen's wages and most
all the material entering into the construction
OF vessels. The fall IN iron Will give the thought
fui shpmaster hint that he won't be slow to
Improve Reports from most OF the shipbulding
districts show that the business has been carried
ON the past season with something OF the old
time vim that once made our coasts and haDors
so lively. The chips and debris have been cleared
away in the long desolated yards; and there is
ACTIVITY GALL ALONG THE LINE"
On rough estimate, from the data at hand
should judge that before the close OF the season,
there win have been launched In Maine waters
some $50 vessels, quite respectable neet The
most OF these are three-masted schooners, these
being found the most profitable to the owners and
better adapted 10 ordinary business than larger
vessels that used to be SO universally built. mo
tlce in the arrivals at an important commercial
centre the other day that but one ship was re-
ported among several scores OF schooners and
smaller craft. The day OF large, cumbersome ships
seems to be last passing away.
Isuppose that one reason why Maine will suffer
but slightly from the panic is because she has not,
as q State. risKed anything In railroad schemes.
Her hands clear from that. No railroad
corporation is backed up by the State
treasury. The towns have invested quite
largely in building railroads, but are reaplng
creased faculties Tor transportation. The rail-
roads that we have on paper that have been born
oi angr, disputes in the Legislature. are likely 70
remain on paper at present; or unlike shipbulld-
ing that urlngs immediate profits, the building OF
railroads in dull times seems ike bread cast upon
she waters tina Win return only alter many, very
inany days. But wise men see that continuance
Isl ShpDuilding mere must depend upon opening
our vast AroostooK country and the bringing OF
its abundant sup ly o. timber by railroad TO our
yards. we hardly dare, though, TO iook ior TINS
Immediately, and we may safely say thar railroad
Inn I'm, WI IA na nf n Il
month. As limited IN my ast
THE MANUFACTURING ESTABLISHMENTS
In the State have suffered but little from the panic
thus far. The cotton mills In CO. Bid
deiord, Lewiston and Brunswick are running
lul tlme-lhat at Hallowell on extra time
with prospect oil contl ulng business through the
winter which Will bridge over the chasm unver-
sally conceued to hard times. None ol the cotton
or woollen mills have suspended entire y, anu put
few have yet curtailed their expenses by ADOPT
ing tne nal time system. me large wooien ,ac,
the state never had better run OF business.
The operatives in these mills, having mad steady
and continuous employment lor years. rather like
the change to half time than otherwise 1t gives
them an opportunity to breathe the Wholesome
atmosphere out OF doors and to visit friends and
relatives Suoud every sawmili and factory In
the State shut down tomorrow, ior a rest OF six
months, no distress would follow. The men could
''shiit Tor themselves IN the woods; many have
trades, and. with tue Yankee ingenuity, could
turn their hands to most anything. The lemale
operatives would return 10 heir IA hers houses,
where their is bread enough anu 10 spare. AS re-
CARDS help, Maine IS tie best state IN the lnion
Our farmers daughters are ST. ong, healthy aud
ambitious. they are glad to cut the leading strings
that bind them at nome, anu nave SPECIAL prlde IN
ABLE TO "noE THEIR OWN ROW"
ShOuld the hard times compel general SuSpen-
sion OF manu- actures-and we don't believe Its
coming TINS time In Maine-the female operatives
would resolve themselves back into the family,
enjoy the winter evenings by The old hearthstone,
ana come fortn in the spring iresn and bio ming
for another campaign at the looms or siinners.
In iact the operatives in THESE establishments are
generally IN very good circumstances; as "a Class
they are not extravagant, but pru ent and saving.
Such persons have notnng TO lear lr IN the panic
Il the banks IN winch the nave deposits do not
sbustn Tney have been able TO put by a little Tor
a rainy day, and The records o the numerous say.
ings banks Will speak volumes Tor the industry and
neay oi our % % AZ eprn na.ye !" sna
barely epou h To keep soul and body together Ii
Is to be suppose !, also, that we are better pre-
pared for Il panic than most states or the reason
that ITO be lorewarned is to be lorearmed." he
clouds have been seen noating in the atmosphere,
and preparations have IN measure been made
for the storm, should 1t come. Shrewd business
men nave .'taken in sall' in season.
THE MANUFACTURE OF CHEESE
is q new enterp lse that has recently oecome very
popular in the State. ABOUT twenty-five factories
have been established under special act OF the last
on by communities OF farmers. these factories
have furnished an excellent market for milk at
the very doors OF the farmers They nave turned
out excele goous that have found ready
market ut remunerative prices. There is scarcely
a oheese factory Malue but what has paid the
the first year. There are some fifteen or twenty
SHOE FACTORIES
excellent, and these factories show q good busI-
moss, with the exception OF two or three that have
been obliged to close aP on account 9 Ss sneer &c mus
who knew nothing about the business or toe wants
Of the market Corn canning establishments to
the number oi twenty-three, have been putting up
sweet corn Tor the markets OF the world This has
formed nice little revenue, and furnishes en-
poyment to multitude ol men and women.
Better Prospects I'm Lewiston and = More
Hopeful Feeling Prevailing.
LEWISTON, Me-, Nov IL, 1873.
This morning the earth is covered for the drst
time this season, with mantle ol snow, and man
ufacturers greet IL with rejoicing, hoping cold
weather may prove one OF the factors OF the good
time coming very soon, they trust. They want
something to move people out OF q state
oil stagnation, and say, "Guess the north
wind will iorce o new shirt" This city,
she past year, has had an era OF unexam-
pied financial prosperity. rapid increase In the
number OF It's cotton spindes has been answered
by very large increase In population, with con-
sequent activity IN the erection Of hou and
shops, and very many frugal operatives In the
mills began drawing on their deposits in savings
banks several months since to pay Tor their new
cottages. The dram on the savings institutions has
been increased by this cause as well as by the
panic.
here are discounting little or no paper. But
$4,000 was discounted at our leading bank on last
discount day where ordinarily 100000 would be
passed. Yet there has not been q sin gle failure
thus far In thus city in any line OF business. BY
general concession creditors decline to press their
claims. not Knowing how soon they may be driven
to the wall themselves by a general application OF
IN innexiole policy.
THE COTTON MILLS
here begin to-day TO make their monthly payments
TO their help. These corporations annually crcu ate
In TINS city $4,000 900 In muds to labor The total
production OF cloth per year is 3I5I7 900 yards and
276e,77o grain bags, consuming $4,000 bales OF
cotton In the year, besides a large quantity OF
wool. Conversing this morning with prominent
manufacturer, he says, II know a gentlemen In.
tcrested In corporations who mas 4 l. 600 uOO
In clean cash 10 put into cotton any iay ana
think he will make move shortly 1 can't tell
nA.a L..