Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1883-08-04
THE WATUH FaUrORY.
"A Statement OF its Present Condition u
FnkuR0 Ri0Da

A Statement Of its Present Condition and
Future Plans.
The officials Of the Lancaster watch
factory state that the closing of tho fac
tory was not due to the failure of the com.
pany, it having no floating indebtedness.
nor any debts Of any kind that it cannot
discharge in full. Mere business precau-
ton. coupled with the fact of Mr.. A.
Bitner's assignment, and tho serious ill.
ness OF Mr.. G. A. Bitner, induced the
board Of directors to adopt that limo of
action.
To run the works pro6tably it is neces.
sary to manufacture one hundred finished
watches per day, or 2, 500 per month. For
some time past, owing to general business
depression, the monthly product has not
been sold as fast as manufactured, the
large number Of finished watches in the
safes awaiting shipment being the cause of
the present embarrassment. During the
past nine years s4OO, 900 have been inves
ted in the works, which with the simple
interest that has accrued would make the
total cost of the plant about $500, 900. The
result of this enormous outlay is a spleu-
didly equipped factory, the product of
which is pronounced by experts as "the
best planned aud finest-fnished watch in
America" Mr.. E. j. Zahm, who sells
from 600 to 700 Lancaster watches yearly,
was assured during his recent trip to the
West by one Of the three or four best
watch experts in that region that "noth-
ing else made in America equals them in
excellence of plan and fineness of finish"
The management of tie factory having
done all in their power to make it sue
cessful now purpose, in case NO disposition
is shown by others to take measures
to assist in tiding over the embarrassment
to have it sold and removed elsewhere.
Correspondence has already been opened
With parties who propose going into the
watch manufacture on q large scale-One
town in the west and the other in city
in the South. A generous bargain can 10
offered in these works, and fair bid will
be accepted, in the absence of such dis
position and effort, on the part Of public
spirited citizens in sympathy with the
company, as arc essential to tho retention
of the company in Lancaster.
The value of these works to tho local
business interests is very considerable
They at present give employment to
$50 persons, and since the recent enlarge
ment of the buildings, 400 hands could
readily be accommodated. From $40, 900
to $12, 900 per mOath arc now paid out on
the labor and material account, nearly all
of which comes from abroad and finds its
way at once into all the channels of trade
in the city. The presence of tho factory
has also increased the value of property in
the West End, and led to the erection Of
many houses in that part of the city which
would not otherwise have been built, and
there is no doubt that the factory's re-
moval would be a serious set back to this
most progressive portion of Lancaster.
The capital stock of the present COM
pany is $24S, 600. about half the present
cost of the works, $4S, 900 of which was
set aside to be sold as working capital.
This latter sum will, if sold, retain the
factory in Lancaster. The present stock
holders will not, on their own account,
canvass the city for the sale of stock, but
will gladly co operate in any effort to this
end.
1t is to be hoped that the management
will soon receive the desired CO operation,
and that the existing difficulties having
been met, the watch factory may begin a
new era Of prosperity.
Meeting OF Foremen.
At meeting of the foremen of the Lam
caster watch factory, Superintendent E.
r. Lyle presiding, it was decided as
an evidence of practical sympathy
with the Lancaster watch company
in its present embarrassment, to
receive in payment of their wages, during
the period of one year from date, Or.lOnger
if necessary, an average of 60 per cent. Of
said wages in cash, and the remaining 40
per cent. in the capital stock of tho CON-
pany. This will effect an important re.
ductiOn in the amount of cash needed for
the monthly pay roll.