Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1881-12-14


otste that derives an income of $40. 600
'son' spruce gum alone, and ALWAYS
has political row of some kind bv ~h;.h :.
advertise itself. and man in Con1-e.. s, =, :.
pc speaker. isn't to be- sneezcd At becanxs !,
Is poor And there are people v no would 70.
sent the imputation that Maine is noor
some OF her democratic citizens feel So inst
now, and thereby hangs a tale which mich,
as well be told here. The query was of,en
raised, sitter the publication Of the lie, nj
stockholders of the late Pacific Bank ot Ro.-
ton, as to how 20 many people in q certain
section OF Maine came to have money. and in
some cases good deal of it, therein invested
The answer is this: When the late preside nj
OF the Pacific left the bank With which he
mad been previously connected, q certain
MAINE capitalist, Of mature years and cousid-
cradle experience, conceived the idea thar
this man. with whom he and bank in WHICH
he was interested had dealt in the ordinary
course of business, was being persecuted
so he not only subscribed to the stock of the
new institution himself, but induced personal
and political friends in three adjoining conn
ties TO do the same. Hence the long Iist of
stockholders from Maine recently printed. II
might have been a. well for them to have
bought Thomaston or Rockland bonds: bu,
when men let partisanship influence business
operations mistakes are always in order.
But the fact that there are so MANY loser,.
and no complaint in the press, is evidence of
the fact that Maine ia not poor. Here il more
About 5000 citizens of Maine have money
in her savings banks. and nearly one-tliird of
the depositors have more than $500 each OF the
s2S 900, 900 and over which these banks owe.
nearly 81, 900 900 is invested in United States
bonds, and about s7.750,OO0 in other public
funds. This makes half Of the deposits. Five
millions is loaned on real estate mortgages
and 81 200. 600 is invested in real estate and
an equal amount ia bank stock, while ST.
go, 900 in cash, with various sums in other
securities, more OF less secure makes I'D the
balance. The general condition Of the banks
according to the report Of Examiner F. E.
Richards, from which these figures are derived
is improved and improving. The increased
confidence and better circumstances of the
people are shown by net increase during
the year of 81, S6l 900 in deposits, and
justified by the payment of over 81 900, 600
in dividends, an average of about per cent.
as well as by the decided gain in the character
of investments. ALTOGETHER, 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 estate mort
cages the banks hold testifies to this. The
lumbermsn have done well. The farmers,
taking all things into consideration, have no
more reason for complaining than a farmer
can always find The summer hotel business,
which has assumed such important proportions
was not as profitable, owing to the character
of the season, as was expected, but no serious
losses resulted, and those interested are full
of hope for the future. There has been
growth in the cotton manufacturing enter
prises, and greater growth is predicted as
soon to come. New mills have been built at
Waterville and Richmond, and old mills have
been enlarged and improved 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 so much political capital, were
about over.