Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-02-01
Nome Investments.

bonds and stocks. unprecedented in the
history of the country. Many desirable
Securities. commonly known as gilt
edged. are; being bought upon u basis
which can hardly Yield more than tire
. per- cent. to the investor. An era Of
prosperity seems to have dawned: we
are among those who believe that bust
ness is to boom. During the period Of
activity cannot something be said or
done tofkeep Maine capital at home?
Through the speculative, periods in
times past Maine money has gone by
the thousands and hundreds of thou
sands. perhaps in the aggregate mill
the promise Of large returns. Much of
it home invested would have in Maine
yielded moderately. IL not richly. 1t
could probably be demonstrated that
upon the average far better results
have come from home investments.
There are some in each community,
and many in some communities. who.
having lost money in outside deals.
would no doubt gladly donate it for the
good of our home population if it could,
asst probably never can, be brought
back again.
We are firm believers in the future
Of Maine. With the timber resources
at and above the Rangeley Lake re-
gion. made more accessible by the sew
eral railway lines. and with the tim
powers throughout the northern and
northeastern part of the State, the
growing demand for our produce, and
the continual invention of means for
utilizing almost everything that is
lumber. small and large. hard wood
and soft wood, it must be that an i'm
nense industrial growth can be en-
Outraged. Why not aid it in all con-
sistent ways with our bone capital of
which there is an abundance?
We are prompted to those remarks
by an article from the Bangor Wing
and Courier. published in another col
umn. in comment upon former and
present freight rates and increase Of
tonnage at and through Bangor. and
consequently through the State. AS
Stunning the statements to be correct. Of
which we have no doubt, the article is
an object lesson for every Maine cap
itaIist. That the Bangor & AroostOOx
X. II. must be Of immense value to the
State we have never had a doubt.
What 1t is destined to yet do no one
can predict. with millions of acres Of
area adaptable to agricultural purposes
to which there is hardly q limit, the
past growth can he but an index of
what is to follow. And yet 1t is patent
that the original L. & A. bonds were
largely bought outside Of the State, at
prices far above any which it was pos
siblc to obtain at home. although. sad
to say, many to whom they were Of
fered and who should have known Their
value, are now glad to get the few OBJ
tainable at prices Is to 90 points higher
than outsiders paid. We cannot see
why Il Bangor & Aroostook five per
cent. gold bond. for any Maine in
the market.
We are pleading upon principle. and
in general, for home use of home
money. but the Bangor & Aroostook is
the most conspicuous example we have
ever had of what a few Maine men may
do for the State of Maine if they start
in Maine enterprise. They. and all
who in any direction seek to promote
the utilization of our wonderful natural
resources, are better off. and so is the
alton of our wonderful natural re-
sources. are better off, and so is the
State at large. if supported by Maine
capital.
We think that the press of the State
can do no better service at the thresh-
hold of a promised wonderful period of
industrial activity than to point ou.,
each paper in its own locality. specific
directors in which the money made
within the State may be probably
Kept at home.
The market for our lumber is said to
give greater promise than for years
Our produce has commanded from fair
to high prices since harvesting in the
fall of 1898 was commenced. The area
over which our seed is distributed con.
stantly enlarges, and so far as we car
learn with never disappointing results
Large quantities of Aroostook potatoes
find their way as far South as Texas
1t. Is reported that consignment o.
our hard wood box shocks is being SEN
to California. Our wood pulp and pa
per is finding it's way into pretty mucl
every nook and corner OF the worl.l
The immediate outlook for ship build
ing Is encouraging und we are read.