The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1912-02-08
MARSTON COMPANY
To REORGAMzE
Local Capitalists Render
Assistance
New Company VIII Start With
Glowing Prospects.

Results of far reaching consequence
to Skowhegan were accomplished
Tuesday afternoon by President Roy
L. Marston and his associates of the
Board of Trade. In a canvass lasting
about one hour and half, all but
i few hundred dollars of the cash neces-
sary to insure the reorganization of
the Marston Worsted Co. was secured.
! This means that this industry will at
once be put upon the tirmest possible
basis. Under the able management
of Mr.. Charles J. Alexander the Mars
ton Mill has recently turned out a line
of samples that tosk the market al
most by storm, so that the future of
the business is particularly bright.
Treasurer \. B. X Brooks of Bos-
ton and E. B. Moore the New York
commission merchant selling the
Marston goods, met the local business
men at the Hotel Coburn Monday
evening, and went over the situation
in detail They explained some of the
reasons why the operation Of the mill
by the Receiver had not been sue
cess financially. They showed, how
ever, that the three months manage
: Inent by MIR. Alexander had resulted
satisfactorily, and promised reliable
returns for the new company. The
] J. H. ,l.gto nj tn1 Of
live assets over liabilities, but when
the insurance money came in after
the fire. some of the large creditors
determined to close up the business.
! They sought to turn all the assets into
cash even dismantling the building,
which of course meant an end of the
business so far as Skowhegan is con-
cerned Messrs. Brooks and Moore
had then taken hold of the situation,
proposed the formation of brand
new company, a lease OF the mill
and machinery. and payment of the
creditors as fast as the goods could
| be manufactured and turned into cash.
/ The Marston Mill is tn eonly one
of the Moore series equipped to turn
out the fabrics which are proving SO
popular, and because of this Mr.
Moore offered to put in $4,000 cash to
facilitate the reorganization Treasur-
er Brooks agreed to transfer $4,000 in
bills payable to the Maine Spinning Co
to the new capital account, thus re-
leasing a like amout of live assets.
The Skowhegan business men were
asked to raise $4,000 in cash, and
their response to date has been such
as to insure complete success.
In return for this assistance, the
main offices of the new company will
cal men besides Mr.. Alexander wili be
elected to the board OF directors which
Is to be composed of five in all Thus
the Marston Company will become in
effect once more Skowhegan concern
with a management ever keenly alive
to the best interests of the place.
Although not generally known, it is
a fact that the Maine Spinning Co.
recently came very near moving their
plant to Massachusetts. An enter
prising town in the Bay State offered
to build them q factory and advance
sufficient capital to offset the expense
of moving, and at one time the direc-
I 81 10 &
from the Skowhegan Pulp Co. induced
them to remain tentatively however
The officers of the company claim that
their wage scale in Skowhegan is &c
per cent higher than in Massachusetts
and there is the added handicap of the
heavy freights. These drawbacks are
partially offset by the fact that the
Somerset and Marston Mills are
among the Spinning Company's best
customers. Any failure to re-organize
the Marston Co. therefore, would have
meant the loss of both the worsted
and spinning mills from Skowhegan
Great credit is due the local board of
trade for their successful efforts to
avert such a catastrophe, and particu-
larly to public spirited citizens who
subscribed for stock in the new organ
ization- This is the kind of public
spirit that counts and means some
thing for the development OF the town.
These citizens realized that Skowhe-
gan could not afford to loose from
$15O,O00 to 100000 a year in pay roll
and upwards of 600 in population. This
is the kind of citizenship that Skowhe-
can needs.