The Portland daily press., 1882-08-24
SHIPBUILDING IN BATH.
A Movement to Establish New Works in
that City.

The movement to establish new iron
works and shipbuilding establishment in Bath,
in which number of prominent and energetic
citizens of Bath are concerned, appears to be
progressing satisfactorily. The Bath Times OF
Monday, in an article urging she attendance OF
citizens at public meeting called for that
evening, says that the large propertyscompris-
ing the Treat and Lang wharf and the Rice
wharf has been secured, and work will COM
mence as soon as sufficient stock is pledged.
About S37 900 of the 100000 needed is already
subscribed, to be paid in when the corporation
is legally organized There are 1909 shares at
$1OO each. Those who have subscribed thus
far are as follows: Goss, Sawyer & Packard,
100 shares, $4,000; John Ell. Kimball, 90
shares, $4,000; Arthur Sswall & Co., 30 share
$1,000; Charles E. Moody, so shares, $1,000;
John Pstten, 80 shares, $1,000; Charles Daven-
port, so shares, $3000 Thomas W. Hyde, 20
shares, $1,000; Swanton, Jameson q Co., 20
shares, $1,000 The corporation is to be known
as the "Bath Shipbuilding Company" and
will build sailing vessels and steamers of all
classes, of wood, iron or other material, and
also manufacture such engines, machinery and
equipments of like character as may be requir-
ed Other citizens than those named above
have agreed to take stock, but have not
subscribed as yet f. B. Torrsy is one. The
Times says he willing to contribute his quota
if he never gets any interest on the stock, and
thinks every true citizen of Bath who is inter-
ested in her progress, and whose interests are
her interests, should do the same. Concerning
the character of the undertaking, and its influ-
ence upon the interests of Bath, the Times
says: "The minute the first blow ID struck to
establish this new business, that minute real
estate in this city becomes frmer, that minute
every trader feels stronger sense of security
as TO the future. Every real estate owner to
any amount shoHld take stock in this company;
he will find that the advance in his property
will pay him good interest Every trader
should encourage the enterprise with hsi voice
and money. Gen. 7. W. Hyde, who should
know, says that in few years the business, If
rightly managed, will pay 20 per cent. on the
capital. This new business is sister industry
to that of shipbuilding, and one is necessary to
the other The matter commends itself to any
level-headed citizen without any argument. A
man of experience stands ready to superintend
the busness.As Capt. Goss says, we know what
we are about when we embark in this indus
tAyb duo IL ~ 1aho, AAAOop LOthopO WI
tingency, we "fail in good cause" Our citi-
Zens have the earnest assurance of Capt Goss
himself and associates the largest stockhold-
ers-that the business shall be to the best of
his ability squarely and economically manag-
ed. And on that basis, farming out first-class
work, it cannot but be success. Another
thing is to be considered this is a move to-
ward iron shipbuilding. Other cities stand
willing to welcome this industry with open
hands. "Come to Portland, says one man,
land you can have all the capital you want"
Everything points to an era of steam. Steam
without shadow of doubt is to become more
and more an important factor in
navigation, and with these new works in Bath,
our builders will be able to meet the demands
of the time. The firm of Goss Sawyer q
Packard, alone, this year could have kept
works with the capacity of seventy-dve men
under way for six months Establish it, and it
will be o state institution, drawing work to it
from throughout our limits"
At the meeting in the interests of the pro-
posed company held Monday evening in
City Hall, there was considerable interest
shown, and the hall was filed. Charles Dav-
export, ESQ. presided, and speeches in favJr
of the movement were made by the chairman,
Capt. Guy G. Goss, j. Ell. Kimball Esq, Gen.
T. w. Hyde, Hon. Wm Rogers, Capt. Tucker,
Capt. Bessy and others. A committee Of three,
consisting of j. H. Kimball, Arthur Sewall
anG @. H. Mcclellan was chosen to solicit sub
scriptions. The original subscription paper
was reported to have $44, 900 on it. an increase
of S7000 and another paDer is ont.