Postby dognose » Wed May 13, 2015 11:13 am
London, Oct. 15.—At an extraordinary general meeting of Mappin & Webb, Ltd., the metropolitan jewelers, goldsmiths and silversmiths, resolutions were passed to increase the concern's capital to $7,500,000 and the preference shares dividend to 8 per cent. The meeting was held in the Savoy Hotel. The chairman, in asking for permission to launch a new share issue, said that the firm's sales for 1919 were exactly three times as large as in any former year, and that up to the 30th of September, this year, they are 30 per cent higher than the 1919 sales. To emphasize the point the shareholders were told that the company acquired a jewelry business in Montreal in 1913 and that the business has been extended considerably there. "Our sales for the year 1920," said the chairman, William Harris, "will be more than 10 times greater than they were when we started the business in 1913. Montreal is now our largest branch and is making very substantial profits." In the contract department, the firm increased its sales last year four times over the sales in any previous year. It is supplying the London and North-Western Railway, the Midland, the Great Eastern, London and South-Western, Central Argentine, Cordoba Central, Canadian Pacific, South African and several other railway systems. Steamship companies supplied by the company now include the Cunard, Peninsular and Orient, White Star, Union Castle, Royal Mail Steamship, Pacific Steam Navigation, Nippon Yusen Kaisha, Norwegian American, Nederlandsche Lloyd, Compania Transatlantica, Servizi Marittimi and other lines. Amongst the hotels fitted out by the firm are the Ritz-Carlton, New York; the Ritz-Carlton, Philadelphia; the Savoy, Claridge's, the Carlton, the Hyde Park, Prince's restaurant, the Ritz Hotel, the Cafe Royal, the Holborn restaurant, Frascati's and other well-known houses.
Source: The Jewelers' Circular - 27th October 1920
Trev.