The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1881-12-13
Prosperous Maine.

A state that derives an income OF S4UOUUa q
wear from spruce gum alone, and always mas
political row of some kind by which to adver-
tise itself. and man in Congress ft to DO
speaker, isn't to be sneezed at because II Is
poor. And there are people who would resent
the imputaton that Maine is poor. some Oh
her Democratic citizens feel so just now, ana
thereby hangs tale which might as well Do
told here. The query was often raised, after
the equalization OF the list of stockholders Oh tne
late Pacific bank OF this city, as to how SO many
people in a certain section OF Maine came 10
haya money, and in some cases, good aeal Oh
it. therein invested. The answer Is this: when
the late president of the Pacific left the BANK
with which he had been previously connected,
a certain Maine capitalist, of mature years ana
considerable experience, conceived tne ioea
that this ryan, with whom he and pank III
which he was Interested had dealt In the or
dinary course of business, was being persecut-
ad So be not only subscribed to the stock OF
the nav institution himself, but induced per-
sonal and political friends In three adjoining
counties to do the same. Hence the long hst
of stockholders from Maine recently printed.
IT might have been as well for them to have
brought Thomaston or Rockland bonds; but,
when men let partisanship influence their busi-
mass operations, mistakes are always In order;
Rrt the fact that there are SO many losers, and
no complaint in the press, is evidence OF
the fact that Maine ia not poor. Here Is more:
About SO, 900 citizens OF Maine have money IA
her savings banks, and nearly one third Of tne
danos;tors have more than $500 each. VI the
S9S 'O0O. .OOO and over which these banks owe,
nearly Sc ,0O0, 900 is invested in United states
bonds and about S7,750,000 in other puDnc
funds This makes half of the deposits. Five
millions is loaned on real estate mortgages, ana
SI 100000 is invested in real estate ana an an
eanaI amonnt in bank stock, while $1,15O,000
in cash, with various sums in other securitles'
more or less secure, makes up the paiance.
The general condition of the banks, accorelng
to the report Of Examiner f. Il. klchards, from
which these figures are deriveo, ,nSdsncs y and
batter circumstances of the people are M snown ,n
hv a net increase during the year OF Sz,ool,WU
in deposits and justified by the payment OF
| over 81 ,OOO, 900 in dividends, an sversge u
about per cent, as wen as ytsnts Dy .me te' Al
| together. it can be said the report Is very
| cheerful and promising one.
| The state has been fairly prosperous during
| the wear; the decrease in real estate mortgages
| the banks hold testifies to this. The lumber,
| man have done we'll. The farmers, taxing all
things into consideration, have no more reason
for Complaining than a farmer can always nnd;
| The summer hotel business, which has assumed
such important proportions, was not as pron'a =.
be owing to the character OF tne soason, 'i.ad q
was expected, but no serious losses resulted
and those interested are full Of hope for the iu
tnre There has been growth in the cottoI
manufacturing enterprises, and greater grow.l
1 is predicted as soon to come. new ma,,s napf spf
1 haen hnilt at Waterville and Richmond, anS
ia % mills have been enlarged and improved
| Moreover. the business pays The general con on
5ition Of the trading classes is good, and there
have been no failures of any magnltude. !,
really looks as if the EVIL days 0%I ntica IL capta
| Greenbackers made SO mucn poht'cai oap''''
i mara ahnut OYar.