The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1883-08-14

Boston, Aug. 10.
George Alfred Townsend ('Gath ,") writes to
his paper that the dullness at seashore houses
on the eastern coast of Maine indicates the pre
vailing dizziness of the past year in State and
Wall streets. Stock brokers, when flush. are
the best money-spenders known, but when the
tide turns against them they have no longer
the desire nor courage to throw their money
right and left, in pursuit of pleasure without
profit. The stock market for the past year has
been dull; this is probably explained by the
iact that much surplus money generally used
IN speculating has gone into Western and Mex
lean X, RS. Too much has gone in that di-
rectlon, and investors are now realizing it. The
coming Investment is nearer home. New Eng
iand capital should be used in developing New
england enterprises. Electric lighting will
ear more money to the square inch than any
railroad ever built or projected. Foremost
among the electric lighting companies, and the
one now attracting general attention by its
rapid advancement, is the American Electric
and Illuminating Co., whose headquarters are
in this city. Beginning about year ago with
little or no capital, and not half hundred
lights in operation, it has secured the necessary
funds for purchasing and operating necessary
machinery, made the advantages of its light
known, and now has capital in sufficiency. and
an aggregate of about one thousand lights
burning nightly, at a handsome profit Be-
slaes the company here, they have successfully
established additional ones In Lowell, Fitch
burg, Providence, Hartford, Cottage CITY.
Ocean Pier, Old Orchard, etc., with Others
forming for several New England towns and
cities, including Springfield and Worcester,
Mass, Portland, Saco, Biddeford and other
cities in Maine.
Everywhere they go success is readily met
with. The best local capitalists take hold,
which inspires confidence on the start Their
lights are put in operation, and the superiority
Is SO obvious that orders are at once secured re-
CARELESS OF any opposition. For instance, in
Lowell the fiercest contention was met from a
strong local company backed by unlimited cap
ltal. In less than four months the local com
pany has found 1t for their interest to abandon
their charter and be consolidated with the
company started by the American
IN Portland the other day in conversation
with several local capitalists, / found them
very much interested in this Go. and its pre-
posed plant in their city. They are ready with
mo money and sympathy to give good light like
the American or Thomson-Houston system a
hearty welcome. In Springfield the feeling is
the same. Superiority of light intelligent SUI
peryision and unflagging energy that charac-
terlzes this company's management is bound to
win and earn large dividends for its stockhold-
ers.
In connection with dividends it would be-
pertinent for me to call attention to predic-
ton made last March in these columns,
Nhe company having just paid their first diyi-
dend on their preferred stoek,) they would pay
another inside of six months aud that in
twelve months the stock would double in
value.
In circular just issued they announce not
only another dividend Of four per cent. on pre-
ferred stock, but an extra sen,i-onnatdL diuide1d
OF TWO per cent. on both preferred and com
mon.
Regarding the stock doubling in value
Prest. Golf said in recent interview that he
paid no attention to the stock, his entire enef-
gles being devoted TO pushing the business of
the company. A move that will result in inst
what predicted. The value of dividend pay
ing stocks will take care of itself, aud the
greater the dividends the more valuable the
stock will become.
In closing this letter viii point out briefly
tue cause OF the compaDy'S immense success.
10 begin with they have a most superior light,
and one that could be run at about one-half
the expense OF any other system. The man
agement OF the Co. was undoubtedly the best
OF any in the country-a combination of intel
ligenee and energy seldom equalled.
All this intelligence and energy was devoted
to one object, viz. SUGGEST Every officer and
every man had some specific duty and eyerv-
body was urged to do his level best. Every
thing worked in harmony, and now when they
nave reached what many call success there Is
still no tagging. The same silent euergy, the
same intelligent labor, and the same persist
ent progress still characterizes ths management
OF the American Electric and Illuminating
20. Can the result in view of these circum-
stances be otherwise than an unequalled sue
cess; goodly portion of which is already real
lied.
To form, however, some idea of the extent
OF success anticipated by the Company, it is
expected that inside of one year their lights
will number between four and five thousand,
requiring some two hundred twenty-five light
dynamos, one hundred fifty horse powe en-
gines, and at least eight hundred miles of
copper wire.
Those who bought the stock of this Company
when it was in the market are to be congratu-
lated. SMALLER