The Republican journal., 1899-10-19
Belfast Industrial Real Estate Company

Those of our citizens who are annually
paying for the support of the property owned
by this company may congratulate them.
selves that the property was so secured and
is now, through the medium of it's tenants
furnishing so large realization of their ex
pectations.
Messrs. Thompson & Foster, who occupy
two floors of the main building, would not
be manufacturing in Belfast at this time,
could they not have been furnished with
such roomy quarters, with an opportunity
for expansion as their business grew. and on
terms which could only be made upon prop
erty held on some plan similar to that in
which this property is held They We're all
ready to move their business out of the city
when the directors of this company induced
them to remain here by having the facilities
afforded by this property to offer them
They were then employing twenty-five
people. They are now employing about one
hundred Their employees earn good wages
when they have become familiar with their
job, and their employment is continuous
through the year. Messrs. Thompson &
Foster have paid out more than $4,000 for
labor during the past year. But they will
not stop with this. 1t is a slow process to
develop new business successfully. The
development they have already made in
their manufacturing business is but an indi-
cation of what they may, and probably will
do. With reasonable good fortune in their
business we may expect within year or so
they will be employing $50 people, with all
increased disbursement of cost for labor in
proportion. This money is, and will be,
nearly all spent in Belfast.
The satisfactory results. realized and
quite surely to be realized, from this enter
prise afford another illustration of the al
most uniform rule, that it is vascI Iy safer
and betCeraforithe welfare of place, to as
sist people who are known in their own com
munities rather than to assist strangers
The former not only more frequently sue
ceed in their business than the latter, but
hey have a stay-with-you quality which
can be definitely calculated upon and which
is quite in contrast with the experience
which most communities have had with
strangers who have come among them with
t'hNAAiA'S''
has shown sad disappointment to the COM
munlty.
As the time recurs each year for our citi-
zens to pay their small annual stipend to-
wards the support Of this property, let Us
congratulate ourselves that we have started
the wheels of industry ia our midst in this
way, Each subscriber in these annual pay
ments should act as an agent in procuring
additional annual subscriptions and prompt
payments of all subscriptions. The larger
the annual payments for stock in this COM
pany the greater will the prospective value
of each share of stock be. 1t takes certain
amount of money eacn year to meet the ex-
penses of interest, insurance and repairs
If only sufficient is raised to meet these ex-
penses the bonded Indebtedness Of the COM
pany Will not be reduced and the stock
which is issued to subscribers will have bu5
little prospective value. But if consdera-
bic more money is raised annually than is
required for expenses it will be applied to
the reduction of the bonded debt so that in
few years the margin of the value of the
property over the Indebtedness Of the com.
pany will make value to the stock. Com
sequently each additional subscription and
payment to the stock enhances the value of
all the stock issued.
A, c. SIBLEY, President.