St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1890-05-15
ANNUAL MEETING.
A Prosperous Year for the Fairbanks
Scale Company.

Scale Company.
The annual meeting of the E. & T.
Fairbanks Co. was held at ST. Johns
bury Wednesday forenoon when the
following directors were elected:
Franklin Fairbanks, ST. Johnsbury.
Samuel n. Brown, Boston.
Jonathan Ross, St. Johnsbury.
Henry Fairbanks, St. Johnsbury.
John j. Howell, New York.
James G. Gardner, New York.
Hiram N. Turner, st. Johnsbury.
This is the old board of directors
and John c. Clark of St. Johnsbury
and w. S. Streeter of Minneapolis,
Mimi, were reelected auditors. The
company have had a prosperous year
as will be seen by the following re-
port.
To the stockholders of E. & T.
Fairbanks & Co.:
Your Directors herewith present
hshefr fourteenth annual report.
In reviewing the business of the
corporation for the year 1889, as
well as IN the opening of the present
year, your Directors find much to en-
courage them.
The sales of scales have been large
higher, and their general distribution
in the markets of the world has new
er been wider.
There has been q steady and sub
stantial reduction in the cost of
manufacturing.
Important additions and changes
have been made in the conduct of the
business at various points, from
which good results are confidently
expected the present year. We espe-
cially note the opening of new houses
at Omaha and Kansas City, at which
latter place the corporation has erect
ed four-story brick store on land
owned by it.
The corporation sustained a loss
in November last by the burning of
its store at ST. Johnsbury; in part by
loss on the goods, and more by inter
ruption of its business; but notwith-
standing, as will be seen by the treas
urer's report, the net earnings have
largely exceeded the dividends de-
clared.
We have thought it wise to con-
tinue the policy of reducing valua-
tions and carrying to the profit and
loss account doubtful debts. Some
of these heretofore charged off have
been collected. The result of the
years business and the financial con-
dition of the company are shown by
thetreasurer' S report.
We are again happy to congratu
late the stockholders that the cor
poration has no debt and that it
closes the year with very large bal
ance of cash and available quick as
sets.
Permanent mprOvement.-A very
substantial two story brick dry
house and shop, 7Ox1OO feet, for dry
ing and working hard wood lumber,
has been built during the year. This
arrangement enables us to take the
lumber from the yard and thoroughly
dry it for use within As hours if nee
eSsary.
To facilitate the work and lessen
the expense we have extended the
railroad track some 1900 feet begin
ming at a point nearly opposite the
gas house, crossing the river and eX-
tending through the whole length of
the lumber yard, with branch track
at the west end.
A substantial covered bridge nearly
100 feet in length has been built
across the river over which this rail
road passes. The lumber is not only
handled more promptly, but a large
saving in the expense is secured.
Rearranging the machinery in some
parts of the factory, valuable addi-
tions of new machinery and the relief
obtained from Overcrowding in the
wood working department (by the
erection of the new shop have ena
bled us to show q marked reduction
in the cost of manufacturing. Addi-
tiOnal work in this line is cOntem-
plated which it is believed will make
further reduction III the cost. Before
the fire it became evident that the
store must very soon be rebuilt, and
plans to this end had been matured,
and are now being carried into exc
cution. The fire occurred at a season
of the year when it was impractical
bic to erect the new building because
of the cold weather, and temporary
shelter had to be secured.
The ruins of the old store were
utilized to accommodate the grocery
department for the winter, and the
selectmen of the town kindly rented
to us thetown hall for the dry goods
department.
The new grocery store is well adj
vanced in construction and will prob
ably be completed and occupied
within 60 days
Work has been already commenced
in preparation for the dry goods
store, which will also be completed
this season.