The Topeka state journal., 1897-11-10
THERE ARE OTHERS.
A Bankrupt New England Town,
Worse Than Anything in the West.

A Bankrupt New England Town,
Worse Than Anything in the West.
While eastern papers have been filled
with stories of defaulted Kansas bonds
and how eastern money loaners have
been defrauded by men who tried to
build cities in the buffalo grass region
they have paid no attention to their
own country Now the horrible truth
is revealed that a good old New Eng
land town cannot pay its debts. NOT
only the interest on it's bonded debt IS
in default but the city has paid no
state or county taxes. TIL following
dispatch taken from the Boston Herald
tells the story:
SomerviIle, Me, Nov f. 1S97.-This
town is truly in an unhappy condition,
on account of being burdened with
heavy debt, with no immediate pros
poets of release, and real estate can
not be sold at any figure.
This place has population of about
300, with real estate valuation of $49,-
600 and a total valuation of $4,000. This
small valuation is carrying a bonded
debt of $4,000, incurred by the civil
war Money enough has been raised
to pay this debt, but the startling
charge is made that a systematic
course of robbery was for years con-
cealed by fraudulent bookkeeping, and
instead of emerging, the people We're
being constantly plunged deeper into
debt. When the true state of affairs
became known, the Inhabitants StrOVe
manfully to carry their burden. Re-
funding bonds were issued and sold at
par 13 years ago to a few wealthy peo-
pie. The bulk of them is owned by one
man in jefferson. But the strife has
been an unequal one. The tax rate
has been enOrmOuS-312 per cent, never
less, and last year 5 per cent. of the
total valuation.
Somerville is far from any navigable
river, railroad or market of any kind.
Augusta is the nearest, IA miles away.
The only business is the manufacture
of lime casks, to be taken to ROckland,
20 miles away.
got discouraged. They began to refuse
to pay their taxes. 1t was soon seen
that there was no way to cOllecct them,
for real estate could not be sold at any
figure.
Some reasoned that when the crash
came and the smoke cleared away.
these taxes would all be collected. so
they kept their taxes paid up, but for
the past year not a dollar has been paid;
the interest of the debt has long been
in default. Only voluntary work has
been done on the highways, and the
roads are positively dangerous even in
the day time. This year extreme diff
Guilty is found in securing teachers.
The bonds are not the whole of the
debt. There are outstanding orders
which the town has not been able to
meet Not long ago some of the credi-
tors sued the town. It was expected
that an execution would be secured
hustling to get rid of all personal prop
erty which could be seized. There are
some wealthy men in the town, and
when it is levied upon they would nat
uraIly be the first victims. Valuable
and available lumber was cut down.
turned into cash and the cash salted
down. One man has turned his cooper
stock into A, 900 lime casks.
A man who had 80 cows sold all but
two. What they did not care to part
with was secured by bill of sale to
outside parties. Even real estate was
mOrtgaged to outsiders, and when the
sheriff tries to satisfy his execution he
will have hard work to find any prop
erty in SOmerVille.
The town should be prosperous one.
The land is fertile. adapted both to til
lage and grazing. Heavy timber of all
kinds abOunds. The ponds swarm with
fish, the woods with small game
The majority of the homes show the
effect of the bIghting debt; discourage
ment and despair is written on every
farm. Houses and barns are 'desolate
beyond tie Imagination of the average
Maine man. Doors are off the hinges
the roofs are caving in, the barn floors
are gone, no appearance of pride or
thrift remains.