The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-05-30

most of whom will be in this town and vicinity.
There is, as specified above, power for dozen
more such mills. Four are to be located upon
the portion of the grand canal already con.
structed.
The effect of the improvements is already
very marked Real estate has doubled in value.
A lot bought some time since for ST. 500 would
now find prompt takers at 81 1000. A farm of
twenty eight acres has sold for $500 per acre;
this before was worth but 800 pei acre. Thr-
ty-ive houses are now contracted for. This
corresponds to the experience of Lewiston and
other manufacturing centers. 1t is active cap
ital that gives value to everything. even to hui
man labor, and almost to the bounties of ma
ture.
In all this Portland has deep interest Be-
fore the days of the Maine Central railroad, all
the. Kennebec business went to Boston. Ex-
cept, perhaps, for molasses, Portland was no
more heard of or thought of by our business
men than Bridgton now u.s. Now, some thir-
teen hundred tons of merchandise are moved
by the railroad hetwixt the two places in the
course OF the year. Our merchants are learn
ing that goods can be bought to advantage in
Portland, especially the staples, groceries. dry
goods, leather products, hardware, drugs. etc.
The business of the Kennebec and Penobscot
valleys formerly all flowed off to the sea. The
Maine Central has opened another and never
INSTRUCTED channel, which has diverted no
small part of it to Portland.
Now that manufacturing operations are beino
entered upon on large SCALE we are realizing
as never before, our dependence upon the rail-
road. But for the Maine Central our present or
taru pfh 1apr npfar H.
question. Before the days of the railroad COM
| mOdities reached us by barge, not unfrequently
| towed up the river by Jokes of oxen or by HIGH
| way at the cost of twenty cents per ton Der
mile. Indeed, in our case the Maine Central
| has been the instrument of bringing, in consd-
cradle part, the pecuniary means to hand for
our undertaking. Mr.. Dunn had his resources
largely embarked in the Maine Central Some
Of the solid men of Boston, George L. Ward,
ESQ.,, being prominent, who, by the way did
| weakness to make the experiment of manufac-
| lures at Lewiston a success, purchasing heavily
of the stock of the road as good Investment
set this capital free for use in our manufacture
| ing enterprise. These gentlemen will now be
interested to promote diversified industries
along the line of the road, with view to the
effect upon their railway investments. The
| very last thing that the State should do is to
lay burdens on the capital that comes in from
the outside to improve or enlarge our media of
transportation, especially when it is not a
| source OF current profit In new aud good
State like our own, every dollar invested in
railroads soon adds five to the value of the ter
ritory contiguous Capital planted in railroads
holds in this respect somewhat exceptional
| position. Leaving out of the account its addi-
| lions to Portland, and leaving out also its own
value. the Maine Central Railroad has beyond
| question added more to the wealth of the State
than the entire body of property in Portland
| or say four or five times its own cost.
| Waterville is at a considerable distance from
market. This makes the question of freights
one of especial importance. In reference to
these the rates from interior Maine to Boston
| by rail are hardly ever complained of. In re-
spect to the local rates of the Maine Central we
| are satisfied TO know that last year they were
but a. 81 cents per ton per mile, while those of
| even the Massachusetts railroads averaged 40
cents, and that, too, although the latter roads
moved tens of millions of passengers, and mil
lions of tons of freight. Taking into account,
| in connection with these reasonable freights,
\ our low cost for room and power, low rents and
moderate cost of living, our distance from mar
| ket is more than made good. The Maine Central
| is OF course as deeply concerned in our manufac-
turing success asany of us, and has areadyshown
its favorable disposition by giving outright to
! the water-power company the fifty shares Of wa
ter-power stock held by it. With reference to
the future growth in this section it is important
to have it known that the average freight rates
| OF the railroad, as above noted, are low Moth
| ing deters manufacturing capital from a dis
trict like accusations of extortionate charges for
| transportation.
1t is many year since there were such stir
ring times on our streets as now Vegetation
| is coming forward with rapidity and excellent
promise Our annual crop of hay is about $500
tons. The enlargement of manufactures here
| will make the whole country round abont Weld
| like garden. TICoNIC,