Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-09-14
voices OF The PRESS.
4 New Maine.


'tfanEor commercially
1t was not many years ago that cap
| italists in Maine We're investing their
money. largely. in places ana In enter
prises outside Of Maine. The orange
| groves OF Florida; the iron mines OF
Henderson and Cardiff. ana the ranches
and paper cities ofthe West were absorb
ing Maine money by the thousands
upon thousands Of dollars Such in
vestmcnts generally proved unsatis-
factory. The points of investment
We're long distance from home. per
sonal inspection could not he given to
the same and doing business at arms
length was anything but satisfactory
1t may have been that one or two large
dividends were received by the invest
ors upon their stock, but ultimately the
bottom dropped out of mines: boom
towns busted. and the cold winters
killed the Southern orange groves.
Disappointment of course. followed
But a change in affairs came about
in part through the failure of outside
investments. Capitalists became tired
of losses in speculative ventures that
did not come up to the glowing state
ments pictured by promoter agents and
and West. The moment they did this.
and looked about for sound invest
ments at home, that moment n solid
boom came to our own State. and our
own capitalists found no such safe Sc
curities as home bonds and home
stock. which they could look at every
week. and see how things We're going
on with their investments. Maine had
been neglected and our own resources
and advantages had neither been
recognized nor appreciated. When
business men and capitalists began to
see safe opportunities for investments
here at home. Maine began to take on
a new lease of life and our business
opportunities began to be improved.
This solid reaction in behalf of old
Maine which commenced some ten
years ago has steadily continued. and
there are yet no signs of a cessation of
this interest. Maine has opportunities
and advantages. business openings and
resources to be developed sufficient to
last for a long while and to afford safe
places of investment for a good deal of
money.
See what has been done in these ten
years: The Bangor & Aroostook Rail
road has been built; the Washington
County Railroad, a dream of half
century. has been built; many of our
most charming summer resorts have
been "discovered' and beautified: cleo
trio railways have been built all over
the State: public lighting and public
water systems have been introduced
which are now among the best sources
of investment; while in nearly all sec
tons many new industries and manu-
featuring enterprises have been start
ed. These have all proved safe invest
ments and have all helped to develop
a new agriculture itself one of the
safest and most necessary industries
of our people.
Now what do we witness in Maine
today? Such activity in its material
development as was not thought of a
dozen years ago. Today a new line. or
rather a new branch of Il great trunk
line of railroad. is being pushed north
to the utmost point of the States
boundary. to satisfy the business de-
mands of extreme northern ArOoStOok;
while along the lines of these new east
ern and northern railroads new bust
ness enterprises are being developed.
At Winslow the plant of the Hollings-
worth Whitney Company is rapidly
making a new city of a once small
village. The same is true of the new
city Of Rumford Falls. At Madison
Falls. on the Kennebec. extensive
operations of development are being
carried out and three quarters of a
million dollars will be expended upon
improvements. At Millinocket a thou
sand men are engaged upon one of the
largest plants in all the eastern states.