Sentence:  At about the time the Marsden enterprise was getting under way , the Vail Light and Lumber Company started construction of a chair stock factory on the site of the <WSD>present</WSD> Bennington Co-operative Creamery , intending to use its surplus power for generating electricity . 
Meaning of the word marked with <WSD> tags:  temporal sense; intermediate between past and future; now existing or happening or in consideration