The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-02-03

To the Editor of the Press:
The communication from Hon. Fred e.
Richards in your columns today, may fairly
raise an issue whether it is wise, by an ad-
ventitious aid whatever, to divert investors
from the main question whether the corpor-
alton which desires to borrow issues a good
bond. $50 @ a
Without any legislative assistance the ex-
perience of the last few months seems to be
rapidly solving this question in favor OF our
own state.
The purpose of this Communication, how
ever. is not to discuss this, but to ask Mr..
Richards, or any other gentleman interested
in negotiating Maine securities, to answer
the following: VIZ 1es !
Are not the leading Maine securities
offered railroad securities? And. Il these are
directly attacked, may not the attack reach
indirectly all other Maine Investments?
2-Would not the advantage which Mr.
Richards proposes for local Investments be
more than overcome by legislative policy
which shall burn the candle at both ends P3'
That is. tax corporations, especially railroad
corporations more heavily aud also cut
down their receipts by diminishing them, or
interfering with their own control over their
own tells? HlalI8l pl8 1871 4sHs
o-lc uOt tne present. encouraging OUTLOOK
for retaining our own capital at home, and
also for inducing foreign into our limits, due
to large extent to the declared conservative
policy of our legislators. which have re-
Trained from the Iowa or Kansas methods of
state interference with the details of the
management Of railroad ??
Al the policy Of the state is reversed In
this particular. win not the consequent dis.
c0uragement of home investments more than
offset all which could be accomplished by
the legislative encouragement which Mr.,
Richards proposes? r.+.s
5.-On the whole has not the financial con-
dition of the state gradually improved In all
particulars under the policy which has here
tofore existed? So is Is there not now great
hope that everything In Maine will take on
new life. provided we are not embarrassed
by new. strange and extraordinary legtsla-
tive antics? nF 48el
6.-Does Mr.. Richards or any ether gentle
man who Is engaged In negotiating Maine se-
curities. believe that either home OF foreign
capital will invest 10 the construction of rail-
road lines into Washington county or Aroos-
took county, II the properties, when con-
structed, are threatened, either immediately
or In the future. with increased taxation, or,
II the investors are warned that the legisla-
ture has taken into its own hands the regu-
lation OF freight rates and passenger fares
and especially II notified that the maximum
charge for passengers must be three cents
per mile. Fr ata
7.--Inasmuch as everything which the
writer possesses, be it more or less, is invest
ed In Maine, and inasmuch also as he has
been always In various directions interested
In the progress of railroads, manufacturing
and other developments which must look ia
corporate organization, he would be glad ia
have these questions answered by those who
will In this connection consider what will
favor the progress of our state as whole.
WILLIAM L. PUTNAM.
February 2, 1891. -, -