Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1895-01-17
SOLID PINE TREE STATE.
SHE PROSPERED WHILE OTHER
STATES SUFFERED.
AND BETTER TIMES ARE COMING
NEW INDUSTRIES SPR1NGlNG Up
MONEY INVESTED AT HOME.

IN ilis annual review of ia, business %
Maine during 1894, and forecast for 1879,
NJ. \. Rich, secretary of the state board
of trade, says:
When it is taken into consideration
how business was depressed all over the
country during 1894, that of Maine was
good during the year, and the State con-
tinued to make a steady and substantial
advance in wealth and population
To some degree some lines OF trade hat
felt the depression in other sections OF
the country were relied on for market
for Maine manufactures.
chiefly felt, perhaps, by the manufac-
turers of boots and shoes, and was caused
not so much by want of market as
by the state of uncertainty regarding
credits Manufacturers did not feel ike
taking the risk of a straining of home
credits by extending foreign credits.
Maine banks We're, as rule, cautious
about taking western paper, and at home
there has been general adoption OF
system of short credits that has done
much to keep the financial condition OF
the State good.
COUNTRY DEALERS CAUTIOUS.
As rule the country dealers have pur-
chased more cautiously because 1t has
come to be understood that short credits
would be strictly insisted on by all first
class houses As a result collections have
been more promptly made and there have
been but very few failures.
Merchants have not allowed themselves
to become overcrowded with stock, and
have, as a general rule, sold for cash or
for quick pay. This has been largely true
of the country traders, and they stand
we'll.
The losses sustained by those who in
vested heir money broad, as, for example,
in the West, made Maine investors more
cautious, and as a result more money has
been invested in good home industries.
This has led to the development to an
already noteworthy extent of the water
powers of Maine, and this combining to
Maine investments money that might
OF herwise have gone outside is already
felt by the industries of the State.
This fact, together with the abundant
crops of the staples OF the State, and the
favorable weat her for the coming OF sum
mer visitors. kept plenty OF money Tor
local business purposes IN the state. ne
big hay crop helped the farmers greatly,
and the demand for the ice-cut OF the
State has been another favorable business
factor, SO that there has been no real de-
preston except in the case OF some few
special lines of manufacturing that have
suffered from outside causes.
HOME INDUSTRIES PROPER.
The great canning and packing
interests have prospered. Large stocks
have been secured, and the quality is ex-
celent At present there is hardly
quick demand, however, owing to de-
preston in business elsew here, and in
some instances to large stocks held in
other states.
The pulp and paper business has been
very prosperous. The number of manu-
factories has increased, and there has
been demand nearly equal to the out
put, and at very good prices, both in this
! country and in Europe. Large foreign
shipments have been made.
The starch factories of Aroostook
county have increased their facilities, and
! are turning out more starch than any
her section of New England. The
demand for the product of this fast be-
coming important industry has been good
at satisfactory prices.
The interest taken throughout the State
in the starting of many small in
dustries has had most salutary effect
on the general business of Maine. Many
special lines of manufacturing have been
developed, not only of standard articles,
but of small wares and novelties in great
variety. OF this Portland is a good eX
ample.
The business of the slate and granite
quarries increased during the year, and
several new quarries were opened. More
men have been employed in this branch
of industry. Orders have been filled
not only from all sections e the At
lantic states, but from western points,
and there is still steady and growing
demand for Maine slate and granite.
The cotton factories, which generally
susDpnded owing to OVerDrOQuct ion and