Show I The Granite Industry The most profitable indus indus- industry try of Cape Ann In those days was the granite indus try There were six large quarries in operation and Cape Ann owners were ship ship- shipping ping granite for building pur- pur purI purposes purposes poses and for paving the streets of large cities Then two unforeseen events hap hap- happened happened which caused the stocks of these granite companies to decline suddenly from over n a share to 5 a share The largest shipper of gran ite was the Rockport Granite Company which finally went Into bankruptcy These two unforeseen events 1 the develop ment of the automobile which demanded that the thep p paving lvin stones be covered with asphalt and 2 the Invention of cement which became a great building factor Those who hid Invested in the gran granite ite business suffered severe losses The people who suffer ed included the best families |