St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1889-09-12
FAIRBANKS SCALE COMPANY

the office of the company in this place
yesterday and made choice of the
following board of directors
Franklin Fairbanks, st. Johnsbury,
Henry Fairbanks, St. Johnsbury,
Samuel n. Brown, Boston,
Jonathan Ross, st. .Johnsbury,
James g. Gardiner, New York,
John ]. Howells, New York,
Hiram n. Turner, ST. .Johnsbury.
This is the same board as last year
with the exception of the substitu-
ton of Mr.. Turner for Charles F.
Thayer of Boston.
Following is report of the meet
ing in detail, so far as the limits of
our columns will admit: Meeting
was called to order by President
Franklin Fairbanks who made a YER
bal report. He said the results of
the years business had confirmed the
anticipations of one year ago. While
there had been a falling off of sales in
some directions there had been gain
in other quarters. There is practi-
cally no debt, and prospect of busi-
ness nearly if not quite equal to the
past two years. A large new store
house had been built in which a two
or three weeks stock of scales can be
stored. The new shop, not yet COM
pleted, will soon pay for itself in inn
proved facilities for doing business
\ great saving had been made in
freights over previous years. Also
the cost of manufacture had been re-
duced The president had made an
extended trip this summer in the in
terests of the business and was hap
py to state that their goods still lead
all others of the kind. He had made
some arrangements in California,
Utah and Wyoming by which an in
crease of business is confidently ex-
pected.
The treasurer's report was read by
Treasurer c. M. Spencer. 1t dealt in
large figures, but the nub of it was
that while $4,000 of bad accounts
had been charged off, yet the years
business showed a net profit of -
per cent on the capital stock against
1 per cent the year previous.
W. S. Streeter of Minneapolis, au-
ditor, sent report under date of July
%, which confirmed the treasurer's
figures.
A new code of bylaws was then
read by the secretary, the first section
of which provided for changing the
time of the annual meeting from Sep
tember to the second Wednesday in
May. This article was adopted, and
after a wordy discussion between
Lawyer Bush of New York and Law
yer Dickerman of Newport, the for
mer advocating the adoption of the
entire code and the latter objecting,
it was voted that the amended code
be printed and a copy sent to each
stockholder before Jan. 1, 80, to be
acted upon at the next annual meet
ing.
Lawyer Bush of New York nomi-
mated w. S. Streeter of Minneapolis
and John c. Clark of st. ,Johnsbury
as auditors. Mr. Dickerman oppos-
ed the motion on the ground that
one auditor lived in Minneapolis
while the other was cashier of the
same bank of which the president of
the scale company was president.
He thought that fact should debar
Mr.. Clark from the position, without
questioning his ability or integrity
Mr.. Thayer of Boston suggested the
name of Mr.. Piper of Boston, and
President Fairbanks suggested w. S.
Bovnton, treasurer of the Passump-
sic savings bank. Mr.. Bush insisted
on his motion and Messrs. Streeter
and Clark were appointed.
When the meeting decided to pro-
ceed to elect directors, and Mr. Bush
had put in nomination the ticket at
the head of this article, Mr. Dicker-
man, who represents perhaps the
largest stockholder in the corpora
ton, land who resides in Europe),
protested against the makeup of the
ticket, first because Mr.. Brown, one
of the board, was selling agent for
the corporation and his election as
director would be inconsistent with
his position as agent for a concern
which now guarantees him salary
of $12, 500 a year. Another objec-
tion to the ticket was the fact that
four of the members Ca majority of
the bOard) were salaried officers in
own salaries. He would therefore
substitute the name of B. E. Cole of
Boston for that of Mr.. Brown On
the ballot Mr.. Cole had 400 votes.
Meeting adjourned.
At subsequent meeting of the
new board of directors, they organ
lied as follows:-
Franklin Fairbanks, Pres. & M 'g'r,
Saml n. Brown, Vice Pres't,
Henry Fairbanks, Secretary,
H. n. Turner, Asst Manager,
Z. M. Spencer, Treasurer.
These are the same officers as last
AT THE ACADEMY.
H. N. Davis, 'S9, was in town