Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1912-03-06
may ERECT THREE STORY BUILDING
President Walker of the Thermos Company and Sup Vsher
Here Concerning Plans-Undecided Whether Brick,
Concrete Glazed White Tile VIII be Used-Annual
Statement of the CompanyAddtional Articles of Man
ufacture

ed at cost in excess Of $4,000, with
outbuildings adjacent, and the cash
sum of $50, 900 to be expended for the
erection of factory on the seven acres
mentioned Their valuation therefore
Of $4,000 as the amount of the bonus
they pay to secure the location of our
factory is deemed a fair one by your
board We secure the rate Of cents
per X. (which is the lowest rate
per X. w. in New England--for cleo
trio current for power and light, and
materially reduced gas rate Through
the manufacture Of our product on one
floor as against a multiple of floors (as
is now the case). there will be a saving
of approximately 900 per annum on
present output. The item of rent Of
$4,000 per annum will be entirely
eliminated and our floor space practi
cally doubled.
The Canadian transaction adds to
the tangible assets of your company a
sum equal to 1901 per share. The
Norwich transaction q sum equal to
$3.50 per share. Your president and
board Of directors therefore feel that
its action In not accepting propositions
submitted a year ago for the location
Of our plant in Indiana was wise
one.
In the comparison Of your companys
net sales for 1911 with the preceding
year We call your attention to the fact
that he have-through out inability to
secure sufficient hand workers-been
unable to I'LL the orders and contracts
that have been rendered and by rea-
son of this fact we have employed
but three travelling statesmen, whereas
II our production had been equal to
the demand 1t would have required 10
travelling representatives properly to
cover the territory controlled by your
company. Your management has there
fore made every effort to overcome
these adverse conditions and We are
pleased to report that our consulting
engineer and factory superintendent
are the basis Of our authority to give
you the assurance that the building Of
the semi automatic machines for the
production Of your product has pro-
crossed to the point where they can be
pronounced an assured success. The
installation of these machines will, in
the opinion of your board and execu-
tive committee, remove the last re-
naming obstacle that has stood in the
way OF your company and splendid
dividend returns.
We believe that now is the oppor-
tune time for every stockholder in this
company to assist your officers in
stamping out unfair competition on
the part of dealers who are substitute
ing infringing and inferior limitations
Of Thermos products to consumers ere
ated by your company's advertising.
We are about to appeal to the courts
for prot sction under the unfair com
petition act, and your cooperation will
be Of great assistance.
Your company paid a dividend out
of earnings for the month Of October,
1911. Of 81 per share, which was mailed
to all stockholders Of record on Nov.
1st 1911. Your directors have dc Jared
a dividend of 81 per share ont of the
net earnings for the months Of Novem-
her and December 1911. payable March
1st 1912. to stockholders Of record at
the close of business on Feb. goth, 1912,
in payment Of which we enclose check
herewith.
The splendid financial condition of
your company at this date is evidenced
by the facts and figures as contained
herein.