Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1916-12-14
BUSINESS men FAVOR PROJECT
Extend Glad Hand to Manufac-
turing Industry.
Back Their Endorsement by Agreeing
TO Subscribe 10 stock in Corpora
ton ~ Transfer to BuriinG-
ton Is Effected.

Following an hour and half of dis
cussion at the Hotel Vermont Tuesday /
evening. 70 business men Of this city,
mostly members Of the Merchants AS
ISOLATION, unanimously endorsed the pro.
posed transfer to this city of the bust /
ness Of a. W. Gray's Sons. Inc, Of /
Middletown Springs, manufacturers OF
small threshing machines, and sixteen 7
of them backed their endorsement by /
agreeing to subscribe to stock in the
corporation which must he formed in
Burlington before tho transfer can be
accomplished The mon who voted to-
subscribe to the stock are: J. t. Burke,
II. L. Winter, II. g. Humphrey. W I.
Scofed. r. r. Wright, l.. p. Wood, II
" 1Iagar, ". H. Uickok, Y. \.
Blanchard. 4. NJ. Ascltnc. e. J. Boynton.
l.. NJ. Hays. G.. D. Ordway NJ. l.. Powell,
+, o. MitiSuy and Ray Williams. The
firm of A. W. Gravs Sons was incor-
porated in 1870 and it's present capitaiHa-
ton is 10000. It employs so workmcn and
mp to three years ago had declared
dividends of from Sc orO to $4,000 It'
present yearly output Of threshuc ma
chimes is from 90 to 100 and wood-sawing
machines and cnsiacc cutters arc also
manufactured to some small extent
The talizaton Of the proposed cor
poration TO be formed in Burlington was
spoken of Tuesday as S&"p" The
present stockholders Of the company will
receive the value OF their net assets in
stock Of tho new company to tho csti-
mated amount of 10000. although tho
exact amount will not be known until
after an appraisal OF he present factory
and stock has been made The present
plant and machinery arc antiquatcd and
/ dr., mt i-~i,r bo al tinn t,ttI
erect and equip tho Burlington factory
with machinery will take a sum est-
mated al from $4,000 to s6N,o'O The re-
maindcr of tho Capital, or such part of il
AS it was thought best to have paid in,
would Ne used to finance tho project ~.
l.. Winter Of T.. y. Woodbury. & Co.. who
| have conducted the negotiations for A.
W. Gray's Sons. stated that If s.J,Nu
10 5000 was subscribed by business men
here, other Burlington mon would supply
the rest OF tho necessary capital. Nouc
Of the sums mentioned was definite, but
; mere estimates
| w. r. Scofcld. president of tho Mcr-
chants association. presided a. the open
| ing Of the meeting, but quickly turned
| tho Gavcl over 10 L.. .. MitiguN, chair
man Of tho industrial committee. Mr.
MitiguN called upon Mr.. Winter who cx-
planned that the new industry, whose
! identity had been So carefully guarded
/ in previous reports, was 4 W Gray'S
Sons. Inc. of Middletovn Springs, manu-.
facturors Of threshing machines. lie also
stated that If approximately $1,000 or
$4,000 was subscribed by business mon.
thus endorsing tho project, it was prob
able thai the remainder ~ tho money
needed To finance tn" proposition could
! he secured. All W tho stock in the pro-
posed corporation. with tho exception ~
{ that held by tho present stoCkholderS
will he controlled by Burlington citizens
! II tho industry is located hero.
! T.. + Rogers, tho present manager OF
A ". Gray's Sons. then detailed with
great fairness all matters pertaining 10
his firm. Since with proper manage
mont and materials, practically any
product can he manufactured AT tho right
cost, he devoted most Of his time to OK.
, planning the saleahiitv of his product
I There arc only a very few factories
mostly located in Pennsylvania, which
manufacture similar thrcshinE machines.
| Practically all of tho business Of A. W.
Grays Sons has been confined 10 New
England, and 70 per cent. of it has been
done in Maine. New Hampshire and Yer
mont. These three States contain less
! than two per cent OF tho individually
owned farms of the country on which
less than one-fourth of one per cent. Of
the grain product of the country is
raised. The sale field is practically UNI
limited. said Mr.. Rogers, and for tho
next few years would probably lie mainly
in the southern States
| Continuing, Mr.. Rogers stated that
with his present output of $50 machines
annually. the factory could make no
profit Expert engineers who have ex
amined his plant say that with an out
put of 500 machines. dividends could be
declared and that with the proposed out
put of 1000 machines from the Burlington
factory. dividends OF 20 per cent. could
be guaranteed and larger ones could be
declared, depending upon the efficiency
Of the management. The speaker also
explained the quality and technical merits
Of his product.
/ c. u. Ordway. who was one of a Bur
lington committee to visit the factory at
Middletown Springs, stated that its pres
ent plant and machinery were antiquated,
but that he thought it would be "A good
thing to have it transferred to Burling-
ton and that with efficient management
and a properly equipped factory it should
prove a financially sound proposition
Postmaster James T.. Burke also spoke
briefly. stating that there was "A fine
market for threshing machines. and that
he thought of all the new industries
which Burlington had over contem-
plated this was by far the soundest as
a business proposition.