The Portland daily press., 1880-06-15
BOARD OF TRADE.
A Movement to Introduce New Indus
try.

a special meeting OF the Board Oh trade was
held yesterday morning, President Anderson
in the chair, to listen to the remarks of Hon.
w. F. Lunt in reference to the introduction of
the National Positive Motion Loom Co. IS looms
into this city. A full description of these
looms has already appeared in the PRESS, and
of the proposed company.
Mr.. Lunt prefaced his remarks by the state
ment that he had always lived in manufac-
turing city, Biddeford, and described how that
place had grown up in fifty years, from town
with $250000 manufacturing capital to city
with eight millions invested in manufactures.
He showed how municipalities celebrated in
the past for their commercial importance, had
found themselves left behind and had been
compelled to depend upon manufactures for
renewed lease of prosperity. He referred to
the towns between Penobscot Bay and Boston
for examples: Portsmouth, where the wharves
are falling to decay; Salem, once the proudest
seaport in the state; all these are now Deepen
dent upon manufactures. Commerce seeks
the great commercial centres with which
smaller places, without like advantages can
not compete. Mr.. Lunt then stated he noticed
in all small places where small manufactures
are established, those places prosper. He was
astonished, going about Portland, to see how
many small manufactures there were, many
of which he believed our Commercial street
merchants were unaware. He then said he pro-
posed to speak of the manufacture of textile
fabrics, and the cost of manufacturing them.
He then; proceeded to show that coalscan be
brought to Portland at very cheap rates so that
steam power can be used here as cheaply, if
not more so, than water power. He thought
all efforts should be made to keep our young
men at home who otherwise would, and do,
seek other places to get living. They can
not all be made traders and they must look to
manufactures to get living. The technical
schools of the country are bringing young men
to the front every day full of the knowledge
that it has cost many of the practical men of
the day years of toll to acquire. The highest
positions will be given to the men trained in
these schools. Experienced manufacturers all
say this. They say man without this educa-
ton cannot climb to the top or compete with
the graduates of these schools.
Mr.. Lunt then gave a description of the new
looms, which he had brought from Shirley at
great expense. They were vast improvement
over the old gang-looms. By their improved
twenty on the old looms, while only small
capital is required and large profits returned.
He then gave the example of a man who in
1871 with capital Ct $4,000, had some of these
looms, established mill, and is now worth
$4,000. has two mills going, owes nothing,
does business for cash, and all this in the face
of hard times. By the establishment of such
manufactures real estate would advance in
value. Mr.. Lunt thought these looms would
do much to develop Portland and offered to
furnish the patterns to build the looms. About
100000 will be required to start manufac-
tory, of which $4,000 would be the working
capital. Looms of 100 shuttles accomplish the
work of 400 shuttle gang-loom.
If the company should be established it is
the intention of the company who own the
loom patents to give the right to weave twelve
inch wide goods. A profit of fraction of
cent yard will pay good profit on the in
vestnent in the looms. Mr.. Lunt spoke of the
looms being on exhibition at the store on Ex-
change street, just below Rollins & Adams
and said that at 2 p. M to-day (Tuesday) there
would be largo company present of manu-
facturers from Lewiston and elsewhere, in
Guiding Mr.. G. /. Barber of the Bates corpora
ton, with a skilled weaver to see the looms
in operation, and give an opinion that Port
land people can rely on. Mr.. Lunt said if he
had an idea the loom was any way a question
able success he would not push it.
Mr.. Hersey asked what class of goods Mr..
Lunt would recommend the manufacture Of
was unlimited, and that staple goods were
always in demand. He thought staple goods
should be preferred to fancy goods Black
silk plain ribbon never was out of style. The
company will sell their rights, but not
take royalty instead They intend, said Mr..
if they can perfect wide loom. Mr.. Lunt
said the company was willing to have the loom
examined by the best patent lawyers, and that
$4,000 had been spent in ten years to develop
it. To show what could be saved in Portland,
one dealer in this city spent $4,000 for web
bling last year. Up to the invention of this
loom only one-tenth of the elastic webbing
made in the world was manufactured in this
country; the rest came from Coventry, Eng
land. The webbing for upholstery is hand
some business.
Mr.. W. r. Wood, of the Westbrook Manu-
featuring Company, said he took the superin-
tendent of his company to Shirley and they
spent day there at the Edgarton Mill. They
could find no defect in the looms and he could
corroborate all Mr.. Lunt had said. He said
one great superiority this loom has over the
gang loom is that if shuttle on the gang loom
breaks, or thread connected with the shuttle,
then the loom stops; in this loom only hat one
shuttle stops, the others all go right on.
Mr.. Lunt figured that with $25 900 capital a
company could earn 81 900 per year, over ex-
penSeS.
Mr.. Hersey then spoke of the small manu-
factories of Philadelphia in which millions of
dollars are invested. He believed their sue
cess was chiefly due to having man who
thoroughly knew his business as the superin-
tendent.
Messrs. S. w. Thaxter and e. P. Dennison
were elected members of the Board, and the
Board adjourned