Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-01-30

man, treasurer and general man.
ager OF the company since it's or
ganizatlon. was elected to the presi-
dency to NIL the vacancy caused by
the resignation of Harvey d. Eaton
OF Waterville, an executive commit
tee or five was chosen. H. d. Jen-
nings was given full treasurership
and W. B. Shelton was made a di-
rector in place of c. E. Vickery. re-
signed. All of the other directors
were reelected. The new executive
committee consists of Harvey d.
Eaton, chairman. w. B. SHELTON of
Lewiston. Guy P. Gannett of Angus
ia, Harold c. Payson of Portland,
and Walter S. Wyman of Augusta.
The retirement of Mr.. Eaton from
the presidency of the company and
the election OF Mr.. Wyman to lis
head comes about as logical chap
ter in the long and dramatic story of
Names water powers to which these
two men have contributed so much.
The acquaintance of the two men
began in 1897 when Mr.. Wyman,
fresh from his engineering studies
at Tufts college. was then assistant
superintendent of the Maine Water
Power Company's plant at Water
Vile. He was even then interested
in the greater utilization of the wa
ter power on the Messalonskee and
In 1900 when the two men both be-
came interested in the Waterville &
Fairfield Railway & Light Company.
they bought the Oakland Electric
Company as start on his work.
Mr.. Eaton was IL years older than
Mr.. Wyman and by his organization
of the Waterville Water District had
come into prominence and was even
then considered one of Names most
able lawyers. Mr.. Eaton gave Mr..
Wyman the encouragement and the
support needed to carry through his
ideals. The Oakland Electric Com
pany was acquired and Mr.. Wy
man became it's manager and Mr..
Eaton it's president.
In the first year under the new
management. the Oakland Electric
Company sold electric energy which
produced a revenue of about $500.
Last year the Central Maine Power
Company, into which the old Oak
land Electric Company mas devel-
oped, did a Public Utility business
of $3,S5O.000, and an additional mil
lion from the sale of electrical mer-
chandise. In the same period 1t eN-
pended over a million and a half OF
dollars for the extension and deVel-
opment of its properties.
In the gradual and steady devel-
opment of the Central Maine Sys-
tenn, particularly during the early
years, Mr.. Eaton devoted much time
to the company and, at the same
time remained active in the practice
of law. His present decision to be
freed of the duties of president OF
the company is prompted by n de-
sire to devote more time to the
practice of law and various other
pursuits.
Mr.. Eaton in his capacity as men,
Der of the executive committee VIII
bring many years OF rich experience
to the deliberations of these meet
ings. His association with the COM
pafly from it's birth. his fine legal
talent and his ambitions to see the
company fill an ever-eXpanding ileid
of usefulness will be of great value.
Mr.. Vyman Largely Responsible Tor
Company's Growth
The development of the central
Maine Power Company from us
small beginnings on MeSsaionskee
stream % years ago to its present
position as thirty million doliar
corporation has been one of the out
standing achievements in Maine
business development
To Mr.. Wyman's foresight, energy
and capacity for work go much Oh
the credit OF the accomplishment
For Is years he has ceaselessi!
worked for the achievement OIL ms
aims. He is of the grade OF the
great captains OF industry. Mr.. WY
man was born in Oakland. Me- May
G 1874. and received his early eau
cation in the schools of that place.
He attended Coburn Classical lnsn-
tute and received his collegiate
training at Tufts college.
THE executive committee Will ho!d
frequent meetings and will D IN
intimate touch with affairs OF 'he
comnany. They have been CHOSEN
because of their willingness ana NJ
ness TO share the obligations ana re-
snonsibilities of management. 1heS
are particularly able men-men VINO
have long been associated with the
company. know it's policies. its AIMS
and share like views on the necessity
of developing Names water poW,ls
for the immediate and parlicul"i
benefit of the State.
Guy p. Gannett
Guy 2. Gannett of Augusta mas
been a director and one OF the three
vice presidents of the company Tor
some years. He is president of the
Gannett Publishing Company. lie
was for many years interested In
electric railroads and lighting COM
panies in the middle west. and in
Maine He is vice president of the
Augusta Trust Company, as well as
one Of the vice presidents of the First
National Granite bank.
Mr. Gannett served term as men,
her of the Maine House of Represen-
tatives in 1917 and was returned TO
the Senate by his constituency at
the following session of the Legis-
la ture. He is AZ years of age.
Harold Payson
Harold c. Payson, one or the new
members of the executive committee,
is connected with the well known
financial house of II. NJ. Payson d
Co, Portland He is a native or
Portland and was educated in the
public schools of that city. at Ex-
eter academy and Williams college.
graduating in 1908. He went to work
for the Payson Company the faH
after leaving college and in January
1919 became n partner in the con-
Germ. He has made a study of Sc
curities. water works. bonds and
especially public utilities bonds. The
firm of ii. NJ Payson & Co. has long