The Republican journal., 1881-12-22
Prosperous Maine

a state that derives al increase Of
$4,000 a year from spruce gum alone,
and always has a political row of some
| kind by which to advertise itself, and a
man in Congress fit 70 be speaker, isn't
to bt SneeZed at because it Is poor. And
there are people who would resent the
| lmputatiUn that Maine is poor. Some Of
her Democratic citizens feel 50 Just now,
and thereby hangs a tale which might as
! well be told here. The query was often
raised after the publication Of the list of
| stock holders OF the late Pacific Bank, of
this city, as TO how so many people in a
certain section Of Name came to have
! money and IN some cases a good deal Of
it, therein invested The answer is this:
| When the late president of the Pacific
lett the bank with which he had been
| previously connected, a certain Maine
capitalist OF mature years and consider
able experience, conceived the idea that
this man, with whom he and bank in
which he was interested, had dealt in the
ordinary course Of business, was being
| prosecuted So he not only subscribed
to the stock OF the new Institution him
self, but induced personal and political
friends in three adjoining counties to do
the same. Hence the long list of stock
holders from Maine recently printed 1t
might have been as well for them to have
| bought ThGmaston or Rockland bonds
but, when men let partisanship influence
| their business operations, mistakes are al
ways in order. But the fact that there
are SO many losers, and no complaint in
the press, is evidence Of the tact that
Maine is not poor. Here is more: About
81 900 citizens Of Name have money in
her savings banks, and nearly one-1hird
OF the depOsitors have more than $500
each. OF the S2S 900, ,0U0 and over which
| these banks owe, nearly IS 900, 900 is in
vested in United States oonds and about
| S7,75O, eco in other public funds. This
mat es half ot the deposits, Five millions
| is loaned on real estate mortgages, and
| 81 POO, GOO is invested in real estate and
an equal amount in bank stock, while
| 81 $50, GOO in Casl with various sums in
other seCu tiles, more or less secure,
makes up the balance. The general con-
| dilion OF the banks according to the re-
/ port Of Examiner L. E. Richards, from
which these figures are derived, is i'm
proved and improving. The increased
confidence and better circumstances of
! the people are shown 10y a net increase
during the year Of e, SCI 900 in deposits,
and justified by the payment Of over ST.,
600 900 in dividends an average Of about
per cent as we'll as by the decided gain
| in the character Of investments. Alto
gether, it can be said the report is a very
cheerful and promising one.
The state has been fairly prosperous
during the year the decrease IN real es-
tate mortgages the banks hold testities
to this. The lumbermen have done well,
The farmers, taking all things into CON
| sideration, have no more reason for com
| planning than farmer can always find.
! The summer hotel business, which has as
suned such important proportions, was
not as profitable, owing to the character
| Of the season, as was expected, out no Sc
ri0us losses resulted, and those interested
are full Of hope for the future. There has
| been growth in the cotton manufacturing
enterprise and greater growth is pre-
dicted as soon to come. New mills have
been built at Wateryille and Richmond,
and old mills have been enlarged and i'm
proved. Moreover the business pays.
The general condition of the trading
classes is good, and there have been no
failures Of any magnitude. 1t really looks
as if the evil days, out of which the Green
| hackers made 80 much political capital,
were about over Boston Herald.