New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-02-01


Commenting upon this purchase
which is one of the most important
business transactions that has oc
CURED in the country inasmuch as it
not only increases the manufacturing
standard of the Stanley Works but
also gives added American interests in
Nippon, President Hart this morning
said:
The Stanley Works has quite a
market in the far east and the con-
troll OF this Japanese plant will en-
able it to still better serve the inter
ests OF their customers in that part
of the world. Some of the stockhold-
erS OF the Japanese company are
Americans and some of them Jana
nese, and the directing Of the plants
operations will be largely in tha
hands Of A l.. Rae who has for MANY
years been the far eastern representa-
tive of the Stanley Works. While 4no
plant is at present but a small one,
the possibilities for a gradual en-
largement seem to be very good
Conditions Excellent In japan.
Japan at the present time is quite
prosperous, the labor conditions aro
good, the Japanese workman is, quite
industrious and the rate of wages
about one-ffth what they are here at
home. The Japanese are quite clever
and successful in manufacturing
operations. and are quite desirous of
cooperating with the Americans in
developing their enterprises"
That the advent Of the New Britain
manufacturing concern into the life Of
Japans industries is not frowned upon
by the japanese officials and manufac-
turers, but is, on the contrary, hai!ed
With pleasure is evident from tha
following newspaper article which
appeared in an English newspaper
printed in Japan on the day before
Mr.. Hart left the Orient for his re.
turn trip to the L. S. A.
What the Japs Say
Mr.. George p. Hart, president of
the Stanley Works, New Britain.
Conn.,, who has been touring the Far
East in company with Mr. E. w.
Rice, Jr, president of the General
Electric Company, has concluded A
deal which will open another Ameri-
can-Japanese enterprise in Japan.
"The Stanley Works are the largest
manufacturers in the world of build
erS hardware. The company is a
close corporation with capital of
S10,oO0,0o0 and employs $500 men.
1t has had sixty years of experience
in the line of manufacturing steel
wrought hardware and the control has
renamed in the hands of the same
family. They have been exporters
to Japan, Australia and China for
many years.
Get 50 Per Cent. of Stock
"The nucleus of the new company is
the purchase of 50 per cent. interest
in a manufacturing plant near Kobe
in which the F. w. Horne Company
of Tokyo and Yokohama and a num-
Der of prominent Japanese in Nagoya
and Osaka were the owners. The old
owners retain As per cent. of the
shares. The board of directors will
consist of an equal number of Amer
leans and Japanese. The factory
management will be under Japanese
supervision and the sales department
under American management. The
plant will be developed to accord with
the market demands and opportuni-
facture of rolled steel. The new
company obtains the advantage or CO.
operation with the most successful
manufacturers in this Tine in the
United States and will benefit by their
experiences and knowledge. The ne
gotiations were conducted by Mr.. T.
w. Horne. Mr.. Hart is a passenger
on the ShiEyo Maru sailing tomorrow
for the United States"