Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1912-01-03
KNITTING MILL.
Committee Now Busy Securing Sub
scriDtiOns to Stock.


scriptions to Stock.
The joint committee from the Ellsworth
Merchants association and the board of
trade having in hand the knitting mill
proposition, is now busy securing sub
scriptions to stock. This is not being ac-
compiished without an effort. So far
about SO, 900 has been subscribed.
A member of the committee said this
morning: 1.-THE impression seems to have
become quite general that the mill is
sure thing anyway, and many who are
well able to subscribe withhold their sub
scriptions with the argument to their con-
science that the mill will come anyway,
without their help. "rhis proposition is
right up to the people. If they want in
dustries in Ellsworth, this is the time
to prove it,"
The knitting mill proposition has al
| ready been fully outlined in THE AMERI-
CAN. To repeat it briefly, a proposition
made by Ellsworth to John Blood, jr., of
the Quaker Manufacturing Co., of Lewis
| burg, Pa, to establish knit underwear
factory in Ellsworth, has been accepted.
One of the conditions is that people OF
Ellsworth invest in this industry an
equal sum with them, or to the extent Of
at least $4,000. If this amount is sub
scribed, the mill will begin operation here
March l next.
The committee on subscriptions is com
posed OF c. l.. Morang, chairman; E. G
Moore, Fl. B. Estey and E. F. Small, of the
Merchants association; E. E. Brady, A
M. Foster and B. I. Sowle, of the board OF
trade. Subscriptions will be received by
any member of this committee, who will
furnish all necessary information.
Subscriptions will be received in
amounts of $40 and upward in multiples
of ter, and payable as follows: One-fifth
when repairs shall commence upon the
factory building; one-fifth upon the ar
rival of the necessary machinery for said
manufacturing; one-fifth within thirty
days thereafter; one-fifth within sixty
days thereafter, and one-fifth within
ninety days thereafter.
Subscriptions are not binding until at
least $4,000 has been subscribed, when a
corporation will be formed to receive the
money and issue stock, full paid and pon-
assessable.
The following is from prospectus issued
by the subscription committee:
The knitting industry has been a profitable
one for investors, and the Bloods, father and
son. see no reason why a mill here should not
be as profitable as elsewhere. They are men
of experience. who have considered this loca-
ton with reference to several others, They
are putting in as much money as they ask
Ellsworth to invest, and the young man, with
his father behind him, is stalking his whole
future on this move to Ellsworth. II they did
not consider the investment good they would
not come here Investigations by the Ellis
worth committee show them to be men of ex-
ceptionalIy high character in their own COM
munities and banks and commercial agencies
give them first-class rating.
They win bring to Ellsworth practically an
established business, with years of success
behind it, half its product sold in advance
and an established reputation that is a valua-
BILE asset.
As regards the knit underwear industry as
an investment, the government reports show
that OF fifteen industries classified, that OF
knit underwear ranks next to the last in num-
berIof failures; in other words, only one other
industry thus classified shows fewer failures
than that Of knit underwear.