The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-01-10

ed and proper entertainment given to tbs
guests on that occasion
Ihe annual meeting of the State Board
Mt Brunswick, In September. was at.
tended by accredited delegates from this
Board.
Other committees served in conference
with the U. ;. Engineer regarding har.
Dor defences, dredging and other matters
that need not occupy your time to rccur
to now.
Slxty-five new nom bsrs have been ad-
initted, and the board has lost bv death
eleven. including Mark p. Emery, Con-
verse .. Leach, Almon A. Smout. Chas.
]. Chapman, Edward Iom,inson, Dexter
W. Kensell, John b. Coyle, A. y. Ste-
phenson, Byron ID. Vsryili, Frank Dud-
ley and Daniels y. PRESCOTT, also Henry
M. Payson, n member Of the Merchants
Exchange, which, deducting lspses
makes the present nominsi lpemnsfsnlp
of the Board $50, and the Merchants Ell
change ia.
have received for admission fees and
assessments OF the Board 81, 3 30, and
from rents s33 20. making total OF
81 1873 75, and for subscriptions TO the
ershants Exchange $94l.0o, making my
aggreeats receipts from al sources
81, zI775, which has been paid 10 the
treasurer.
The general trade Of the city has been
fairly good the past year, while some
branches have no doubt been disappoint-
ing from various causes that have affected
other sections Of the country, but as
whole the year closed with very satls-
factory results. and our Transcript very
tru remarked that las = rule all
branches OF business have prospered here.
There has been a good deal OF building,
and the work has In the main boon OF
tho most substantial kind. The port of
Portland became, during 1898, OF greater
Importance than ever before. Last week
eleven great ocean liners were herr at one
time, discharging or receiving freight.
Never before In the history OF ths port
was there such activity in shipping cir.
cles, and the money paid out for labor,
and in many other ways, has found Its
way back into circulation, and every
branch of business in the city has felt the
influence of the activity of this one i'm
purtaut branch. There can hardly be q
doubt that In the near future another
elevator will he built, or that there will
be direct steamer service from this port
ali the year round.
The same may also be said OF other sec
tions Of the state as to general business
improvement
there have been few failures--no large
ones the past year-and rs farmers har-
vested good crops, for which they are
realizing fair prices, country traders have
been able to pay their bills promptly be-
cause money nus circulated freely in the
state, and valuations by the state MS
SCISSORS returns. have largely increased In
most of the towns, and much surplus cash
has been deposited In our Savings and
banks as appears from the bank
examiners recent report, which shows that
the 100 Savings Banks and Loan and
Trust Companies OF Maine. with aggre-
gate resources of t76. 375, 53s 80, being an
increase for the year OF o. iaa, s6s.os, be.
siues distributing more than Two and half
millions interest money 70 dsposioors,
which, with the eighty two National
Banks, now doing business In Maine,
with assets amounting TO s39, VOC, Osl 80
makes the total number OF banking in
situations In the State ls2 and the en-
tire banking capital uio. 2s4. o2O. 04,
hence money has been easy at low rates,
which has been an incentive for putting
on foot many new industries In various
parts Of the State, and then quite re-
turn FROM western farm mortgages has
come to Maine investors since the revival
of western business.
We note ct this time several large pulp
mills going up In the State, the lumber
trade rapidly improving, quite a ship
building boom, better freights. Q demand
for larger aud better steam vessels. an e1-
tension of our railroads, both steam and
electrics.
The governor recognized the hopeful
outlook for the State, In his recent mes
sage In these words;
HThe past seasons have brought US
abundant haryssts. Our mills and fac
tories are very generally in active opera.
ton. Labor is remuneratively employed
throughout our borders, our people enjoy.
in marked degree, the blessings OF
plenty, of health, or individual liberty
and personal security. Peace has onoe
more returned TO rule and bless our State
and Nation. We have every reason TO
predict, with implicit confidence, the es-
tablishment In our State before long OF
many more and some new industries OF
great value To our people.
Therefore TO properly lay outlines to
take the best advantage OF every oppor-
tuuity. for the development of the pusi-
ness interests Of our city and State, much
will be expected from this board. and
much can be accomplished II all take an
interest In sustaining the OF ganiration by
their presence, advice, and such oo-opera-
ton and encouragement as the business
people Of Portland oan give.
Respectfully submitted,
NJ. n. RICH, Secretary.
Portland, Jan. 0. 1899.