Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-08-09

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0sT clsassas ruhlis lGsssang n ~.
TO show the expediency Of . liberal policy
OF taxation BY Augusta to encourage foreign
capitalists to invest around our dam, il il veil
70 present the facts indicating the amount Of
'A.es collected on the factory properly in the
principal manufacturing cities of Maine. In
most OF these localities the manufactures are
soiidly established and On a large scale, and
their water power is nearly all appropriated.
thus rendering policy Of exemption less
necessary as stimulus of new investments
while the water power of Augusta is only mar.
TALLY used.
Market val.of
name OF value Of Amount shown by daily
nun. City. property. Of tax sales of stock
Pepperell. Biddeford. sl,assse2 s27.o7o S2,7ooaoo
I'M Co.. Lewiston, ss7 90 n s ,sS. %
An'scog'n, 764,0ss 1917 i'ToIo
rate asss 49,, l.o7s.oso 1904 10000
mill prop'y. waterville. $4,000 500 2,loo.coo
1t would seem, therefore, inexpedient to
assess the Edwards Manufacturing Co. in
Augusta to the amount of $3.50, 900. and to
collect tax of &c. 3s. while the market
value of said property is more than $50 900
less than its assessed value. Not to show anv
sympathy for that repelling policy which in
former years did so much to prevent the in.
fiux Of manufacturing capital into Maine, we
would do well to initiate the course Of our
sister cities. whose course has brought such
a harvest Of prosperity and growth. Above
all, We should not keep out of mind, the ex-
ample Of WatsrvilIe, which already has her
ninety thousand spindles with near prospect
Of hundred thousand more, while the real
figures Of her taxation stand as above given.
To show what is being done in neighbor.
ing State at the present time to encourage the
establishment of manufactures BY water
power, we call attention to the following re-
Gently clipped from leading Boston news
paper:
PROPOSED ERECTION OF A $500, 900 CoTToN
MILL AT BASKERVILLE, N. II.
Especial Dispatch to the Boston Journal
FIsHERvILLE. N. H., Aug. l. bill will
be introduced into the Legislature tomorrow
authorizing the incorporation of the Tahanto
Cotton Mill in this place, with a capital of
S3OO,OOO. This important enterprise has been
for some months under consideration, and the
plans Of the building are already drawn
Some of the heaviest business men in this
place and Providence, r. are interested in
the scheme, and they will subscribe half of
the capital before the stock-book is presented
to the public. 1t is expected that ground will
be broken within thirty days, and that the
foundation Of the mill will be completed be-
fnra x,,,
be of brick, and will be located at the ''Bo-
rough" or Upper Falls on the Contocook
river. about three quarters of a mile from the
heart Of the village. Employment will be
given to 400 operatives, and il is thought our
population will be increased one thousand.
The number of spindles will be II 800. The
water privilege is considered the best on the
river, being an S00horse power. The North
ern Railroad will probably build spur to the
mill, and rs our population will naturally be
increased to at least $500, the extension of
the horse railroad from West Concord to our
village is likely to occur soon. The mill will
be located on the Concord side of the place,
and will be exempted from taxation for ten
years.
OldtOwn offers to exempt from all taxation
for ten years any company which will erect
mills within its limits, and Gardiner has just
exempted for ten years shoe factory.
The facts and the arguments are conclusive
as to the course Augusta needs to adopt at
the present time. We believe our citizens in
their public meeting to-day will show united
front, seek to adopt wise measures, and be
governed by enlightened and liberal views.
Should the decision be reached after full and
impartial elaboration, that the Edwards
Manufacturing Company should pay taxes in
1888 on 100000, and that its valuation
should be fixed at that sum for ten years be-
ginning with the present date, however large
her investments should be made in that time,
we believe no good citizen will have occasion
to complain.