Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-06-16

charge of it. has planted about 5000 trees
this year many of which came from
Mr.. Vanderbilt's Carolina estate. Mr..
Kinks garden and hot houses are exceeding
ly thrifty, all the early vegetables are ready
for the table. The family are expected
about the first of July, by that time the
whole place will blossom like a rose.
Notwithstanding the palpable evils Of
Bourbon rule, the Kennebec Democrat is
not wholly cast down. Political depravity,'
it declares, lis not total. The country is
not in the depth of political degradation.
Things are not quite as bad as they seem"
This is indeed sustaining. We have yet
reason to hope that the Democrat will be
found upon the side of prosperity when the
fall elections are held.
Everybody, says the Portland Express,
knows the history of the Mallet fortune. 1t
was an inheritance amounting to five or six
hundred thousand dollars, entirely unlocked
for, coming to him, poor man. This is a
big sum of money for man to receive wi o
has never had wealth, and the creditabie
thing about Mr.. Mallet is that his head was
never turned by bis sudden acquisition of
riches. He began to use his money where
it would do the most good. The scene Of
his enterprise was for the most part in the
beautiful town of Freeport, in which he still
takes the greatest pride.
He built shoe factories where the Free
port people could find lucrative employ
ment, and erected houses for their homes.
He established backyard; opened a
granite quarry and stone cutting works, op-
Grated a saw and grist mill, and finally
opened stores for the sale of various lines
of goods. In all these enterprises he gave
employment first to those who made their
homes at Freeport. His last operation in
this line was the construction of a system
of water works for the town at a cost of
from $50, 900 to $50, 900.
As he proceeded with his improvements
and investments of course the time came
when ready money was not at hand and he
did as every business man does, obtained
accommodation at the bank. The total
amount of his indebtedness to the First
National, which is his heaviest creditor,
is less than $4,000. Some of these notes
fell due and it was desirable that they should
be taken care Of in some way. Here, as it
appears. Mr.. Mallet nl4de his mistake. In
stead Of going to the bank, making state
ment of his affairs, showing that he had
ample property but could not raise the
ready money with which to meet the notes,
ard asking for an extension of time or re-
newal of the notes, as a man of longer bus
mess experience would have done, he al
lowed himself to worry about the overdue
paper and finally made an assignment to
meet it.
One of the assignees says that while it is
too early to make definite statement of
Mr.. Mallet's assets and liabilities from the
examination already made it is evident that
he had property enough to pay all claims
against him many times over. As soon as
certain securities which he holds and which
are readily mark etable are converted into
cash he can pay every dollar of indebted
ness without touching the landed property
and without suffering himself from any
considerable shrinkage of values. This
can probably be accomplished within 80
days time. The public will feel relieved
that Mr.. Mallet's embarrassment is not of q