HomeMy WebLinkAbout2146VIour Directors have mob pleasure in re-ortinf steady
nrogrsae during the nest Fall and :Pinter menthn in the can-truet-
-ion of our nen i cabins far mak Ing Electrically 'AaIdeI Fenn int:,
Ja..h in now met up and nearly convicted.
'Star the last annual :'sating several months core spent
... tti in; to fine nino Cor; •o%, or -omen in the 1'nitad Ctatos :!.a
Would centraet With ue for tho buildiq-gSyagor loo. cjtow a
severe! Styles of '.'ire Fencing su.,orior an we beliove to uny!him
in that line that has yet born nrodaced Editor in this ceuntr or
in the Cnitod C.tntes. Yom a long tiro sur efforts mxra inrvri_ing
Let at longth rm were directed to 1'r.Thawas 'i atternon cdm had be.n
for Sone your, building wire 'moving looms for the Grooming
Corpany in F.Milton are for nartion in Creat Britain. Iter
learning that he could undo, take the conntruction of i'eehinos for
razing the >tyles of "ire !lancing that we wlshod to place on the
psis , ^n.. the, t-.^�. xRr -=!.i ct h-..:ou12 rnC r into in ^na •:n rA.
-- >iinil-us percianontiy as our ;'echm.ieai `:u,crindcrient ..
necessary eechinon in our am 'Lope, en . ettemxsrdn supervise
ti.oir verking, it v -x uaanimou=Iy agreed to ¢enloy hin in that
cyacity, to carnvnca the buainasr. on the first any of duly last,
and to fit On our Ehop with machinery of the boat daaeriptim far
the building of our looms.
It the seas time a staff of conpot•nt men, was employed
to weave by hand for use at Industrial Fair and at our awn factory
nc7r.leo of the various stylos of "'won "lira Fencing for which we
pqv�r
were undertaking toa'construct om m. This was nocoesary as the
noa4 affeatual adve:Uaauunt of cur Lu !spay sac it " .1 ..,,_.,.
to ar?loy tha nam; ma in putting up Isni mcdo fences if mood
be lost Fall. 1
but tho 'Pavan 111-8 FSncoe oxhibited by us worm TO gens
-ally, approved by those aha examined the. that nany person, •oho
Lhuughi of putt W,, up hand vada fences declared that tinny would
;m -fan Gaiting to get the product of our loons. Tide led us
immediately of tar the Fair was aver to dln�ansc wl th the aervites
of the man emmhoyed to ?ut on hand made fancas and to devote our
whole attention to the construction of the nower loses; for :'oven
Mira posting, from which a la.rre revenue is aneotod, an they can
work all the year round and if nocaesary dyy and night after
commencing operation. The marth of duly was mostly spent in the
nu-cha" and fitting uw Of machinery,. 'my-ur.t amid ,part of '"Aole
-ber with neaoaaary preclininary work and wowing of the hard meds
samples which are still on hand and available for future use, and
since the lniluntrial Fair won over the builrinr of our first
machine has boon steadily nrogressing, and ,:a are now looking
forward with eanfidonco to sun -lying many Orders for `leetriaally
'teldad Fancier, of sevarai variotiea during the Coning fpring and
m,mer. After Lha first Machine is working sacreerfully it May
be thowht advisable either to nvocoed at once with construction
Of a new machine for the wsmng of the Gable "trend end t%av
Fensg Or of naveral dunlioates for the first Machine, whioh eon
.a b014 :vamp norm racially than the first with the aid of net -
:erns than oaixtinr, and by this moans the out -nut of that style
of fence can be very largely increased.
A suitablo building clone to the Union Station, `wanta,
with aowor attachoz wan, ranted, *.Job in in every way atlantad for
the work that has thus far been carried eq and it may possibly
suit our suroose for the conlm^ year, but ae additional looms are
built more avate ney be raraired for aporatinp looms and for the
nto^egc of aur rtira and 'Ivan Fencing, am! also for the menufaa-
-two of forma implies for wbich there will be a canton' aarand
in connection with the huslncnn. of :Ire Fencinr.
ilo nereon who has observed the change that is takijT ,
.dace in the feneim, of toren and railways throughout the whole
country can doubt the wisdom of intraCuelnr sweriw styles of
"aeon 'lire Fancier, at the lowest possible east to eunply the
demand that in so r idly increasing.
3
The extraordinary davoleoenonte in electricity an sell
s in its eo711oaiuh in no onny forps, will no doubt in Um
noir raters play an imsortant nnrt, where rtrength, noatnosn and
cboannaes are desired, and crweot be overlooked in the era ration
o" ` ire paries . as in malty other matters.
she very ancourn;lir.- feature nines the Industrial Fair
in Taranto is the manv an�licetions wo hero had for mmointnnnt
as :gonts for the sale of our ':norm "ire Fuming., so that we look
forward with confidence to being Able to dix,an of all that we
can praduco of the different etyloo mmufwtured, an rapidly as
our machAres can be built..
kIl our enmagaments haw been cramotly mat. he debt
has been ineurm& ,est with Cho name careful and oconomirai
rartageaant in the Intern that hap rhavactorimod aur amratiens in
the east, no look forrerd to s nrnO�oroun business which will
groatly inemaso the value of our refermd "tock.. ani fully prove
the wiedon of =Ann our own money at a fair rate of interact to
the haaoboldors for h,. ^racucl estaili Aviont of our husinees,
instead a noying many thonnandp of dollars to any aaritnliata
for their services as nramoten in the startiry; of oar business
or the flaetiW. of IOA "tork, vbieb could baa invrlvaa th e
sacrifice of a hcCo amount of Capital comoamac with dnieh the
interoat said to our own "hereholdore in a rora trifle.
the Directors do not intend to declare any dividend
until it in fairly earned, end vainly by the nredur.t of the
riachinan ••hist: we ora building, end it in satisfactory to Snow
that in the seantime ovary CAarsholder all r,ceive roenlarly Orel
half year upon thr amount he le s Iwanted ihtorest At the rate of
71, nor nnnma anl:,r our arraeCn.wnt with the Trusts CorCmy. !n
this rospeet the Commy is aim-ly ActiA, in rho rano meaner that
any orivato individual would act if ntnrtit4, a lopes buainnae an
his sen Ponoonslhllity, by retaining a eafficiont seaunt of his
mean- an hand for the current erpensos of his family, ehilnt ears,
-fully imastinC his surplus Canitel in the ;mrchsse and manufn-
-two of n13t frit; which largo returns are confidently expected.
4
7a believe that the only requisite for the ,uccaerful
cnt:�li:hstent of this business in tho oalp of a :adorate ad;itien•
-ai aaeunt of our rreforrad -tock to co:nlata tbo :.uiluiry{ of
eevnrnl lave and for the *lacing of timir mut-nut on the iarket.
'o rogret to say that the <_nlso of our ':tock have been ^rc--n07
1;ladqrsd since our to lnss was coaanneed b what u,r; to hp-
,_.eY- ,ea:.. .-.
tFo systematic effar6- of shr. 'e rLies aha aeon doteinino ed�
duly+ our, opera Lions as much ac 'Cseible. _ver since our Lurie_
-oa boemanc-:d there have been reregraphw fnelvontly nppenffing in
the .pronto ^&pare about the proposed astablishment of a large
"Leel and '"W and lira Fence hueineas by American ca;,italicta,,
and -3thin th- past two ront',is ainilar notieer. often by wi cis
deeaatobts fm Toronto hive bean L,-oarin;, in loeal ,rapers all
over the eountryy. Me Want of -uch dounatehis on intendig,
inva^tor^ can bo ossi'.y oedema tee d. �'o raly umn Lim active ant
_ _ano�._ntnc c-n,m...� .,n _rf mor o
+. ;i.a 1L. u ^,: c': t}.,<.
fforty, and to ale us in speedily effecting sales of a sufficient
aneunt of an, ."nferrad `task to ensure .for their mutual bonofit
the full establi,1nnnt of a cost arafitrble business.
Fioaneisl %atenents aro here=.ith submitted, showing
-the iispoval Lhu% far made of our paid up Capital, and the aspen•
_sea con.awtod with the establishment of the buviness ohich has
horn Conduct-md in the most economical meaner. Tbc anounts shown
Its :, iabilities under the headin,, of '.ecounta : q)oblo have Rina
barn paid in full. All of -;hich is respietfuily suLhitted.
(Sgd) lldiandoreon
rre&ident
January 29th, 19ce