The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1902-05-29
A Good Home Investment.

A Good Home Investment.
The Marston Worsted Mills have
matured plan to place their manufac-
turing business ON a more advantageous
basis in "a building adapted to its work
and with power they may control and
ultimately own for their own use.
This company, starting as it did two
and one-half years ago with small cap.
ital, has steadily increased its output,
and today it is one of the leading indus.
'rivs of our town. This In the - OF
two hard years in the textile business,
reflects great credit upon the business
ability and push of its manager, Mr..
Edw. Gledhill, and stamps him as one of
the brightest of textile manufacturers.
The present payroll of the company,
including salaries, operating the Show
hogan mill and the Lakeside plant, both
night and day is approximately 81, 800
per week, amounting to an annual pay
roll of SIS, 900. When running both
plants, days only the weekly payroll is
about $1,000 per week or $52,0 900 per
year. The company now operates 90
looms in the two mills. 1t purposes to
put in its new plant 40 additional looms
making 100 in ALL Based on the amount
paid for labor on their entire plant run
ming so looms the new 100 loom plant
would call for an annual payroll of about
sS7, 900 running days only, or $780,
if run both night and day. This will
give some idea of the advantage to the
business of the town the proposed
change would be.
This splendid business the company
is doing under unfavorable circumstan-
ces in regard to the buildings occu-
pied for manufacturing purposes, and
naturally it would be glad to have power
and buildings more to it's liking We
believe this proposition will commend
, itself to our citizens who are loyal to
our business interests, and we trust it
will be given candid consideration. 1t
is as follows:
The Marston W orsted Mills of Show
hogan in the County of Somerset and
State of Maine, corporation duly es-
tablshed and existing under the laws of
said state, desire to secure better and
more economical quarters in which to
carry on it's business, and to that end
makes the following propositions and
agreements, viz
LIST: A corporation shall be organic
ed and purchase the NJ. j. Allen proper
ty in Skowhegan, now bonded to Chas.
A. Marston, or some other property
hereafter to be determined upon, and
provide quarters suitable for and accept
able to said Marston Worsted Mills.
End: said property 80 provided, the
said Marston Worsted Mills agrees to
lease for the term of ten years, and to
provide in said lease by proper legal lam
guage that it will keep the same in good
repair at its own proper cost and ex-
pense, pay all taxes thereon, keep the
same insured at its own expense for an
amount satisfactory to said lessor. and
in addition thereto pay an annual rental
therefor equal 20 five per centum per
annum ON the actual cost of said pro-
perty, and to purchase said property of
said lessor within or at the expiration
of ten years from the commencement of
said lease, and pay therefor the full
cost of said property, providing the said
lessor shall bind itself, it's successors
and assigns, to sell and convey to said
lessee, by proper clause in said lease to
be inserted, said property at said price
3rd The said Marston Wofsted Mills
hereby agrees that il will take stock in
said corporation when formed to the
amount of seventy five hundred dollars,
and if it fails to purchase and pay for
said property as agreed, the stock 80
held shall be forfeited to the other stock
holders, to be divided among them pro
rata, and said Marston Worsted Mills
agrees to bind itself, its successors and
assigns, to make proper transfer of
said stock on failure to purchase as afore-
said.
In Witness Whereof, the said Marston
Worsted Mills, by its President, Charles
A. Marston, duly authorized by a vote
of said corporation, has hereunto set
it's hand and caused its corporate seal
to be affixed, this twenty second day of
May, 1902
On the foregoing conditions and agree
ments, and for the purposes therein
stated, we the undersigned hereby sever
ally agree, each with the other, that we
will take stock in corporation when
formed for the purposes above named to
the amount set against our respective
names, and pay for the same as soon as
the full amount of Twenty Five Thous-
and Dollars has been subscribed, Ger
titcates of stock issued and the lease
drawn and executed in accordance with
the above agreements.