Postby dognose » Fri Mar 04, 2022 6:18 am
The annual meeting of the stockholders of the Gorham Mfg. Co. was held at the offices of the Elmwood plant, near Providence, R. I., Wednesday afternoon, about 25 persons, representing some 44,000 shares, being in attendance. John F. P. Lawton, secretary of the corporation, called the meeting to order for the 50th consecutive time and the occurrence was not allowed to pass unnoticed. As Mr. Lawton was about to begin the meeting President Edward Holbrook arose and asked the indulgence of the meeting and paid a glowing tribute to Mr. Lawton, which was enthusiastically received by the stockholders. Mr. Lawton responded briefly, but during the course of his remarks took the opportunity of drawing a comparison between the meeting of Wednesday and the first meeting of the company that he was ever called upon to call to order. There were just two stockholders at that meeting; now there are several hundred, he said. He then called the meeting to order, read the call for the meeting, after which Edward Holbrook, president of the corporation, was elected chairman. The report of the directors showed that the gross business done by the company during the past year was approximately $5,500,000. The profits of the year amounted to about $522,000. During the past year the company has been compelled to purchase much of its silver bullion in the open market because of the revolution in Mexico, which prevented the company’s regular supply mine from shipping its bullion here. It was shown that the year 1913 started with more than 1,600 employes in the several departments of the plant at Elmwood, and that the concern had paid during the past year to its employes here more than $1,200,000. The total amount of silver that was bought during the year was more than 2,500,000 ounces, costing more than $1,000,000. The election of the new board of directors showed Robert L. Knight, of this city, as the only new member elected to the board. At a subsequent meeting of the directors the organization for the year was completed as follows: President and treasurer, Edward Holbrook; vice-president, John S. Holbrook; secretary and assistant treasurer, John F. P. Lawton.
Source: The Jewelers' Circular - 18th March 1914
Trev.