Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-06-28


ing. reading to many citizens of Au-
gusta, most of whom will quietly smile
at some of the statements and all will
be unfeignedly pleased at the good re-
ports as-to the better and constantly
improving condition of the Edwards
Mills Corporation of the Capital City.
Read it and chuckle at the state
ments as to the rough treatment given
| that corporation by the city of Augusta
and also smile at the delicately yelled
hint that the capital of Maine is moth
| ing but a country village. 1t might
prove a profitable Investment for the
paper which originally published the
article to send a fair minded and in
telligent special writer, regular man or
just plain reporter to learn first hand
as to some of the statements in il:
The writer was in Lewiston, the
other day, and one mill agent there
told of another mill agent who,
some score of years ago, bought Con-
tinental mills stock at $40. share.
The man referred to now owns 1000
shares bought at low prices, and the
market on it now is $50 a share.
When Mr.. Pratt who was for years
the very Successful agent of the
Bates-and he helped to make the
mill the great success that it is-came
to Lewiston something more than a
! score of years ago, Bates was selling
at s95 share. Mr.. Pratt bought a
lot of the stock while he was agent.
Today it is easy to get 1926 on the
Bates stock. Sometime within the
period referred to above, nothing like
so far back as 90 years ago, the stock
of the Edwards Mill sold a 5000, and
s per cent was the lowest regular
dividend A year ago Edwards was
quoted at so odd. A Boston broker
tells us that Edwards is a conner
and is going to make big profits for
it's stockholders. Incidentally. we are
told that there is nightly little chance
for one to buy any Edwards stock
now and that the people who know
the mill best and who are most
closely interested in it have picked it
all up.
The Edwards used to be a very sue
cessful cambria mill and made its big
money and reputation when women
were swathed in cambria lined gar
ments. Nobody buys cambrics now
and none have for years, and the
change in style nearly busted the
Edwards. For long while it strug
gled along trying to do something,
with the only certain result that it
was wearing out it's machinery and
increasing it's debts. Augusta taxed
the Edwards corporation beyond all
reason and the mill and the manage
ment were having a hard time gem
orally.
hof
chandises the Edwards product con-
trolls the mill. For several years all
others Of its accounts have been very
successful, but the course of the
Edwards curbed their pride. In this
commission house was the Pepperell
accountable most successful cotton
mill in the world; the Bates account,
with it's stock selling around $500;
the Otis account, which has been
wonderfully rich. and three or four
other mills amongst the best in the
business. And all the time the old
Edwards was the wonder of the
trade-that It could do so poorly.
Then things began to change. The old
looms were thrown out Of the Ed
wards and 1000 new diapers installed.
Until recently there remained 500
Ola pain ioOIiS III VIC mn ti'oI wei
run only at times Of high water, but
| these have been scrapped The other
machinery was put in good order and
the mill prepared to make some
money Ire product was changed
and the mill taken off the print cloths
and put on more profitable goods. in
Guiding scrims, coutils and fancies
that can be easily made without dob
| bies.
| Three or four years ago the Ed
wards got new agent Mr.. Stewart
who came from Bondsville. This
agent grew up. in the mill business
and is still a young man. A good
many years ago he attracted the at
tention of Q. H. Afford, the big mill
man, member of the old firm of Bliss,
Fabyan & Co. Mr.. Afford knew his
! business and made few mistakes and
many great successes. He decided
| that young Stewart was mill man.
and several years ago. when Agent
Bean was at the Androscoggin, Mr.,
Afford wanted Mr.. Stewart to go to
! the Androscoggin as superintendent.
! Mr.. Bean never would have super
intendent But Mr.. Afford, real head
of all the Bliss Fabyan mills. arranged
it for Mr.. Bean to have super
intendent, if he could get Mr.. Stewart,
but the latter. knowing Mr. Beans
ideas along that line, wouldn't take
| the lob. Stewart did progress, how