Putnam patriot., 1909-11-12
DanieIson's Industrial Hope Blasted.
From the paniel.on Traa.cr pt.l


 
 In our issue of Last week, In speak Ing of Il local industry started by one of our own young men, we said: "But no more hiring men to come here to start business venture" To show the wisdom of that declaration we cite the following graphic story told by the Transcript, of Danielson's woful expe- rienee In hiring outside parties to come there to start manufacturing busi- ness:
 "The Industrial X Manufacturing Cc., promoters Of Industrial Place, in Danielson, are hopelessly involved fi- nancially, and yesterday receivership was precipitated by two attachments, aggregating sd d,5oo, placed upon all of their real estate in Killinaly and Ston- ington, by bailitf George Nj. Pillig, for Frank A. Davis and Damase Boulais, both of Danicison. The writs are re- turnable al the January session of the Supreme Court.
 For about two years the affairs of this s5oo,0oO corporation have been in a ey was expected by all who were fami- liar with the conditions. It Is a very serious failure to this community, since IL involves many of our prominent cit izens, including elergymen, manufac- turcrs, merchants and mill operatives, who have purchased house lots and ca- pital stock oi this corporation. The prospects ot realizing equity for the ca. pital stock are very shm, while the only prospects iot 10, holders Is to con. tinue paying inslalments to receiver appointed hN the court.
 The Industrial X Manufacturing Co. came to banielson three years and a halt ago, under the most favorable con ditions possible They had just closed up n land deal at Gardner, Mass, clear ing up a substantial probl, and were received in this town with hlare of trampets and shower of gold. The Board of Trade backed the company in every way possible, and sold isa house lots, at si85, to members of the Board of Trade, who were powerfully interested tn the success of the first at tempt to boom kiliingly and make bigger and better panielson.
 The farm of Charles n, James, on North street, was purchased for about Sa,tse--house lots staked oil, streets laid out, factories started, and presto change, the property was worth one hundred thousand dollars.
 Professional men, merchants, and operatives and farmers, rushed to In. dustrial Place 10 participate in the for tunes 10 be made by buying house lots. klondike was put 10 the blush. Da- nielsen was to experience an industrial hraeing up second to none. House lots sold 10 willing buyers al slso, would b. worth xsou, Sspo, yea even sl .ueo, as soon as the factories were running.
 Fo six months the induslnal pol boiled. Lots were sold every day. Buy CTS became mentally prosperous. and began to anticipate their fabulous pro- filS hy putting old money into eifeala- tien. Every one pgoIited except the savings banks.
 The Board of Trade dlned and Miued and met monthly sn a grand lahllee. Danleison aas Ia boom as il never did i before. X salary WAS voted the eNeca- ] live officer of the Baard of Trade. and 1 ten iess presidents cleeled u assist the ! president n his duties Bat alas All things must end In. | teresi in the house lots began to aae. Ihe factories remained unoeearIes. There were no premiums heing pad for lots offered for resale. Then came