Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-11-18
The Valuation of the Edwards Com.
pany.

In it's present form the proposal
made by the Edwards Manufacturing
| Company for the settlement of the
pending tax case, will be in every way
more satisfactory to the voters Of Au-
gnsta than that voted upon last Janu-
airy. At that time the principal OBJ
lection urged against the acceptance
Of the company's proposal was that
under it blocks Of stores and other in
| vestment property might be construct
| ed or acquired which would compete
| with similar property owned pS o'hei
citizens upon an unfair basis. AT that
time the Journal suggested that the
proposal of the company would appear
more strongly to the favor OF Augusta
voters of it were limited to the build
;n,s If actually used. In it's new pro-
nosal the Edwards Company yields
this noint only asking that the in
| creased valuation of one million dollars
shall cover, during the term that
! il shall be in force, additions or inn
| movements which may be made by said
| company 10 it's mills or property neces-
| sarily used in connection. herewith"
Otherwise the offer of the company is
the same, it agreeing to abandon its
appeal to the Supreme judicial court
from the valuation of 1904, and pay
said tax in full as assessed with in
terest, which. under the statute would
be at the legal rate of six per cent. AS
we understand the city has been able
to secure the money borrowed in
anticipation of these taxes, at 31s per
cent There would. therefore, be gain
terest account were it to accept the
profrered settlement.
The foregoing. however. is not all
that the city would gain by settle
ment of this vexed question. 1t would
avoid the heavy expenses and delays
attendant upon litigation, which is
liable at best to be long drawn out
and expensive. 1t might be that the
court would give larger valuation
than that named in the offer of settle
ment. 1t might be that the city would
find itself, at the end of long law suit
costing many thousands of dollars,
forced to accept an even smaller one
No man can foresee the outcome of
such litigation, and it is, at all times.
something that best be avoided if pos
sible.
There is another element in this mat
ter which we spoke Of when 1t was up
for consideration last January, and
which, we think, applies with equal
force at the present time. 1t is al
ways a wise thing for community, as
a matter of sound business policy, to
deal in fair and liberal spirit with the
industrial enterprises that furnish en-
ployment to labor, thereby putting
thousands of dollars into circulation,
and contributing, directly, and in
directly to the welfare and prosper
ity of all it's citizens. Not only is it
important that existing enterprises be
treated in this broad spirit; but it is
even more important that a conmun-
i:y should enjoy a reputation for the
liberal usage Of the various factors
that make up the industrial forces that
constitute the bedrock of its pros
to attain the additional growth and
development that can only come
through the establishments of rev
ones Grass grows today in the streets
of more than one community that met
| its opportunities with scowling feat
ures and a pinched spirit, thereby
making them the factors of growth in
other and less parsimonious places.
For the future of our city let US see
| to it that we make no mistakes OF
like character.
AS we said last January. "The Ed
| wards Manufacturing Co. is a potent
| factor in. the prosperity of Augusta,
and there is every reason why Inc
| most friendly relations should exist
| between it's representatives and our
citizens generally. While this COM
pany may well be asked to pay its
| just proportion of the public burdens,
it should at the same time be dealt
| with i'm such n fair and liberal spirit
| as shall assure it of the loyal good
| wishes of the community in which it is
| located
1t seems to us that thoughtful men
whose own prosperity is bound up in
| that of our city, will be impressed
| with the importance of meeting this
| new proposal of the Edwards Company.
with the important new concessions it
makes, in a liberal and concilia tory
spirit.
If this is done expensive and uncer-
tain litigation may be avoided, and
settlement arrived at. that would, in
| tho lnpr rim no for tho hest interests