The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1916-01-24
ANNUAL BANQUET OF
vERM0NTERS AT BOSTON
Governor Gates and James HARNESS
I Among the Speakers |

1T the annual banquet OF the Yer
nlont Association of|Boston. held at
the Hotel Vendome on Saturday eve
ming, January 22nd. besides Cover
nor Mccall and Lieutenant-Gov
Coolidge of Massachusetts, there
were present Governor. Gates of Yer
mont and many notable Vermonters
Governor Gates brought the greet
ings of the Green Mountain State TO
the assembly. and was followed BY
Hon. James Hardness of Springfield,
Vermont, chairman State Board OF
Education.
Mr.. HARNESS said in part: come
to speak to you of new Vermont;
modern Vermont that is now in the
making. 1t will combine the splen-
did characteristics of the past and
present with possibilities in the fu-
ture that will mako our state a lead
er in the essential things. There
has never been time in the history
OF Y .rmont when SO many Clements
were favorable to such a growth. MY
life has been spent in the indus
tries. In this exp 'ence | have had
an opportunity to snow first hard
how the workman thinks and feels.
l have observed the difference that
exists between the various sections
of this country and abroad with spe-
cial attention directed at the deYel-
opmeat and growth of the industries
of Germany During az this time
have been actively connected with a
Vermont organization. and as re-
suit SEE the great opportunity for
the Vermonter.
This is an age of mechanism, OF
invention and machinery. The gold
fields OF today are right here in the
industrial states, where there is a
spirit Of invention, of constructive
achievement and coordination of eff
forts.
The Vermonter is in his natural
element in the world of mechanism,
and is bound to succeed. The state
needs him. the other pursuits are
dependent on him and his old home
needs him. but he cannot remain
without chance to work.
An industry Of the right kind To-
Gated in each town, changes that
place from center where the farm
ers trade With each other to one
where the farmer sells to those who
are bringing in ready money from
other states and other countries. lie
finds this new center one in which
he can find remlineratiye work for
himself and sons. and IL his farm
is within few miles he can continue
TO live in his own home.
Under the influence of the pros
perity OF this center he receives bet
ter prices for his products and there
is q greater demand for farm land.
These two conditions enrich him by
doubling the values of farL, prop
erty.
We must not impede our agricul-
tural development. The same scien-
tific and aggressive push must con
tinuc and with It we must devote the
same kind OF energy 20 the estab-
lishment Of more industrial centers.
For examples Of industrial devel-
opment in Vermont let me mention
the towns of Springfield and Windsor.
which are enjoying n wholesome in
dustrial growth in the manufacture
of metal working machinery. This
industry is known as the Machine
Tool Industry and embraces the man
ufacture of lathes The machine tool
building plants of Springfield and
Windsor have grown from single
root that started sixty years ago at
Windsor. 1t was not very sturdy
plant during the first forty years.
II remained very small organiza-
ton without great change till about I
twenty-five years ago, when it was !
transferred TO the neighhoring town
Of Springfield and commenced to
of only sixty thousand dollars, which |
by the most liberal inventory was |
500 larger than it's net assets This |
compary's stock sells at price that |
indicates a value over fifty times |
the original mentioned. This has !
been accomplished without the use
Of now capital, and while running |
under general policy of paying one
half the earnings in dividends.
The plant at Windsor. according |
TO press reports. has recently changed |
ownership on a basis of valuation |
of three and one-half millions, and
although, in tie course of It's growth |
it has taken outside capital, it has
accomplished its growth by a shorter
process Than the parent Springfield
company.
The Increase in men engaged In
The machine tool industry in the two
towns has pearly eQualled the in
crease i'll capital for there are now
between twenty hundred and
three thousand men.