Daily Kennebec journal., 1894-07-20
WILL CLOSE DOORS.
E. C. Allen Co. Will Suspend
Business July 81.
Action Caused by the General Stag
nation of Business.
Complete Surprise TO the Employees and the
Public at Large.

AT l.oV 1nursuay AFTERNOON MI. A. W.
Whitney, secretary Of the corporation of
E. c. Allen & Co., and manager of the i'm
mense publishing business of that corpora
ton, announced to the employees that the
establishment would be finally closed July
3lst.
Mad thunderbolt fallen there could not
have been greater surprise. The news spread
like vildfire and carried with it a depress.
ing effect felt by all.
Shortly after a representative of the
Journal called at Mr.. Whitney's office.
Mr.. Whitney expressed regret at closing
the establishment. From the conversation
that followed it was evident that the de-
csion to take this step was made only two
days ago. "Oh, we shall pay every cent
on the dollar" he said and added 1.-THE
corporation has not failed. 1t has closed
to avoid failure" He then handed the
reporter the following statement for publ
cation
Owing to the unprecedented depression
in general business over the whole country
for the past Is months, causing the failure
and suspension of several well-known busi-
ness houses with which they have done bus
mess for great many years, and their in
ability to collect from great many more,
the management of the corporation of 4. c.
Allen & Co. Of this city, have reluctantly
decided to close their works July 3lst, and
to indefinitely suspend their business. All
bill against the corporation will be imme-
diately settled in full.
In 1869 the late Z. G. Allen entered
upon pioneer work of publishing, issuing
that year the Peoples Literary Companion.
In 1871 he built the four-story brick block
on the east side Of Water street, which of
late has been chiefly occupied above the
first floor by offices. The cost of this was
1925 900. He carried his business through
the business depression following, and in
the Centennial year published the Centen-
NAL Record, doing an immense business.
Meanwhile he had been increasing the num-
ber of his monthly publications, adding in
three years II new publications.
azine, "The Daughters of America, T"
strictly devoted to the interests of women.
His business increased so rapidly that in
1880 he erected the mammoth six-story
brick building on the opposite side of the
street from his first publishing house, and
a. the present time this is wholly devoted
to the publishing business of the establish
ment. In the height of the business during
Mr. Aliens life time there had been 800
employees in the establishment, receiving
annually in salaries 100000.
Mr.. Allen died July %, 1891. January
II, 1899, close corporation was formed
consisting of Julia NJ. Allen, Mary L. Allen,
Florence A. Whitney, A. w. Whitney and
II. A. Hallett.
Mr.. Whitney told the reporter that the
payroll in Augusta is $4,000 a month and
$1,000 month in Portland. The number
of employees has averaged l4o, but during
the summer and at present is about 1876.
These employees are from the best of our
citizens and quite number of them were
receiving comparatively large salaries.
The circulation is now 900, 900 month.
The publications are as follows: The Peo-
pies Literary Companion, The Illustrated
Family Herald, The Peoples Illustrated
Journal, Our Home and Fireside Maya
zine Golden Moments, The National Far
mer and Home Magazine, True's Farming
World and Household Magazine, The
Thrifty Farmer and Fireside Magazine,
Halletts American Farmer and Family
Magazine, Sunshine, Daughters of Amer
lea, The Practical Housekeeper and La
dies Fireside Companion.
The suspension of this old and thriving
publishing establishment is felt by all to be
public calamity. Besides Mr.. Whitney,
those in best position to know, say that the
corporation is perfectly solvent and some
of them express wonder that the establish
ment was not sold. The blow is q severe
one to the employees, many of whom, espec-
tally those in the most responsible positions,
denly find themselves obliged to enter anew
into some advocation with which perhaps
they are now unscquainted.
With the recurrence of good times there
is reason to hope that the growth of other
publishing houses in the city will fill the
gap made by the suspension. Aside from
the depression which this naturally causes
there is every reason for the city to feel en-
couraged, for the volume of business is
large and new buildings are going up on all
sides. That what may be lost by this sus-
pension of business will be soon regained
seems to be the universal opin'o1.
The police have been notified that Alloy
sius Jaeger is wanted at Sioux City for
embezllement of money belonging to the
American Express Co., and $500 will be
na.r