Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1879-09-19
Manufacturing Corporations.

turing corporations, because the shrinking
process and the scaling down business had
clothed the countenances of the stockhold-
ers in solemnity and these annual gatherings
reminded one of the wrath to come, or already
come, rather than of the reward promised or
already attained. Thanks to the Resumption
Act and the financial policy of the govern
ment, together with wise management in the
mills and at the Treasurers Offices, the annual
meetings OF the Lewiston Corporations held
to-day. have been full of the Old-tme cheer
and courage and have shown results achieved
during the year, on which tins cheer and
courage are reasonably founded.
Lewiston now has nineteen manufacturing
corporations and a capital of seven and a
quarter million dollars invested in manufac-
turing. Our mills, the past year. have con-
sumed about twenty-five million pounds of
cotton, employed :, 800 operatives, disbursed
in this city three million Of dollars, and pro-
duced about fifty five million yards of goods,
chiefly cotton. Our mills now use about
$500 horse power out of the river AndroscOg-
gin, but at least 80 per cent. additional pow
.r remains awaiting the coming water wheels.
Altogether there are now about 800, 900 spin
dies in Lewiston, counting 10000 new spin
dies soon to be- started on the Bates Corpora
ton.
The Franklin Company is reported to be
in good condition. A year ago Franklin sold
at IS. To-day it sells from 10 to so, and is
still advancing. Prior to July Franklin paid
no dividends for four years. In July divi-
,lend of three per cent. was paid, besides a
handsome sum to surplus. Land of the Com
pany is beginning to sell again. The Com
pany owns $50 acres of valuable land in this
city and Auburn, taxed for over half mil
lion dollars. The Lincoln mill, owned by
the Franklin Co., has not been running since
June, 1873, hut will probably start this au
tumn. This is the oldest mill in the city.
rhe original structure was built in 1916 The
mill will employ 400 hands and will produce
at the rate of $780, 900 yards of cotton per
annum.
\ year ago Bates Mills stock sold at 100.
There was "a per cent. dividend in 1878.
To-day the stock sells at l4l-an advance of
- during 1879. The stock is in active de-
mand at the advance. The past year the
Bat has earned and paid two per cent.
dividends with good sum carried to surplus.
The Bates the past year has closed up its
WOODEN department and is now erecting a
large store house, with view of adding
about 10, 600 spindles to its present capacity.
rhe mills have been in almost uninterrupted
operation for ~ years. They run 54.672
spindles and employ 1850 hands, disbursing
IN Lewiston $500, 900 per year. These mills
produce the largest variety OF goods of any
mill in the city. including saiines jeans,
.ilias, quilts. ginghams, dress goods, towels,
>heetings and cottonades. The capital stock
Of the Bates Corporation is me million dol
lars.
A year ago. Hill Mill stock sold at CT and
rad fallen to 80. To-day the stock sells at
-, and there is not much in the market at
hat money The Hill paid per cent div.
ilend in '7s. This year Hill has paid one 3
,er cent. dividend and carried something to
surplus. The Hill has capital stock of
me million dollars. The two mills employ
1000 hands, and the past year have produced
light million yards of shirtings and sheetings.
The past year these mills have dsbursed ov-
tr $500, 900 in Lewiston. They run 1860
,pindles.
A year ago Androscoggin stock was held
~. Tuesday it sold at l0l. In 1873 the
mill declared no dividend. The present year
he mill has earned and paid two 3 per cent.
dividends and carried an unusually handsome
sum to surplus. These mills were started up
lbout the time the guns were fired at Sumter
md hence have now been in operation for Is
Years. They run 10000 spindles, employ
100 hands. annually disburse in Lewiston
$40, 900. and have produced the past year
iine million yards of sheetings, jeans, etc,
md two and a halfmiliGn bags.
The Continental Mills are the largest in
the city. The mills incurred large debt at
he time of the enlargement and although
hey are making good earningsvno dividends
rave been paid, as earnings are devoted to
iqudating the debt which is being gradually
educed. The Continental! is considered one
,fthe very best mills in the country. The
4. .gsl.. =, D
The mill has been in operation for thirteen
wears. and the past year has produced eigh-
cen million yards of brown sheetings. The
company the past year has employed 300
lands, disbursed S4S0,000 in Lewiston,
cunning 10000 spindles.
The bleachery always earns dividends. and
he past year it has not omitted to show its
isually good record. The stock of the
,leachery is not in the market, as it is held
Exclusively by corporations in Lewiston and
}iddeford. The Works have turned out
more goods the past year than in any year
preceding, and are among the busiest places
n our busy city. The capital stock of the
,leachery is $1,000 The works employ
,75 hands and the past year have dsbursed
$3.50 900 in Lewiston. They turn out % tons
# goods per day, and use an immense guam
ity of drugs and dyes, bleaching about four
million dollars worth of goods per year.
The Lewiston Mills do not ann unce their
dividends, but it is understood that they have
made good earnings. The Lewiston Mills
ave been in operation for twenty-seven
sears. They employ 700 hands and run 5000
pndlcs in the production of ticking. denims,
.ottonades, cheviots, etc. The mills have
lisbursed nearly 100000 the past year in
lewiston.
The Lewiston Machine Company paid no
dividend in 1878. but has paid dividend Of 3
,er cent. this year, and is doing large bus
ness, having all the work it can do. The
ompany is without a burdensome debt and
he past year has filed heavy orders for cot
on machinery for mills in New England and
n the South and now has several months or
iers to fill. They employ POO hands and
,roduce 100000 worth of goods per year
Iisbursing $l5O0O0 per year in Lewiston.
rhe capital stock is 100000. This is the
,nly one of our corporations whose meetings
we're held to-day, which uses steam power.
The Barker Mill located in Auburn is now
.,.astantially free from debt and is doing a
profitable business and unquestionably will
hereafter earn and pay good dividends. 1t
'uns 10000 spindles and disburses $50, 900
yer year in Auburn, employing $50 hands,
Ind producing the past year three and one
ialf million yards of sheetings.
= II