Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1892-08-12
Maine Tor Maine Investments


Transcript sent out inquiries 10 the leading
bankers of New England making inquiries
concerning the state of the bond market as
compared with one wear ago. the character
of investments and the general outlook for
the autumn hord market Among the
answers To these inquiries is one from Hon
+ g. Richards of Portland formerly Bank
Examiner for Maine, the nature of which
IL 80 encouraging TO Maine investors at
home that We wish to call attention to
some Of Col Richards statements. lie first
speaks of the fact that formerly a great
deal of money Was sent West for
Investment b. Maine men which WAS placed
in such way that 1t entailcd great loss to
the investors whereas nov much less money
- going West than there wa, five to
eight years ago. The State of Maine.
SAYS Col. Richards, offers great induce-
ments at thi. time for the investment of
money. and enterprislng men recently have
ayaled Themselves of the opportunity
AVbftliA IN our ifhltN tlplNtl ItNbuIRfNs anu
TO-DAY there Is an active demand for invest
mcnt money. which j, likely to continue for
several years To cutne ncniled accounts
are then given of the binding of the Ban
gor and Aroo,took Portland and Rumtord
Falls and Roci;iln1 and Camden railroads
the Development of the Rumford Falls
Power tonpnuv the establishment of the
now plush mills at south Portland and the
enlargement Of the work. of the Sanford
mills alt % which enterprises are being
carried on through the and of Maine
capital In the building of the Rumford
Falls road more than million of dollars of
Name money has been used. Rumfora
Falls has a power surprising the combined
power Of Lewiston Lawrence and Lowell.
and at present three large factories are he
inE built The kland anil Camden road
has ABSORBED $50 nnN of Maine capital
while The new plush mills at south Port
land viii require more than 5000 hh more
all Maine money. After describing these
magnificent enterprises, all Of Maine mcnov
hy Name men, for the good of
Maine. Col. Richards concludes his
letter with the following conservative
remark on the security of Maine invest
n,ents and the advantage of placing Maine
money at home where 1t is sure to yield
good dividends. build M the State. and NAV
he easily looked after and managed
A great deal of money is investing the
present year in the erection Of business
blocks in the various cities of our State. so
that if any noticeable shrinkagc in the vol
umc OF bond sales has occurred in Maine. it
can be accounted for directly by the dis
position of our people to invest in the devel-
opment of home properties not only within
their own control and under their own i'm
mediate supervision. bat in a manner which
necessarily must increase the population
and promote the prosperity of this state
The great water powers of Maine At present
are attracting the attention of inveS-
tors to greater degree than ever before
anu Win the pfDbauie lNfPhtipHe "tii'u WI
make possible the economical transmission
of electricity as motive power. it seems
likely that in the near future these water
powers of Maine will he used to mannfac-
ture electricity which shall he conducted to
various points of railroad AMI water com
innnication fo- the manufacture of various
products of industry.
Certainly to-day Maine investors are
turning their attention from foreign to home
investments and so far as can be seen, with
more satisfactory results than their former
investments in Western securities. There
still remain great opportunities for the prof
table investment of capital in this State,
and if the disposition continue to develop
the latent resources here. Maine capital will
he absorbed in Maine properties to a great
g yteui for wears to come.