OCR Text |
Show VERY SUCCESSFUL. The business of the Logan U.O. Foundry, Machine and Wagon Manufacturing company presents the following facts and figures for 1879. In the beginning of the year the company acquired one-half acre of land immediately in the rear of the shops. It was also found, in consequence of the increase of their business, necessary to build two additional forges in their blacksmith shop, making seven forges in all; and the office of the company, which had been in one corner of the blacksmith shop, had to be removed and a neat new frame building was erected, 16x30? feet. It was also found necessary in order to accommodate the increasing demands on the wagon shop to erect a new wagon shop 22?x39? feet, with room over head to store one car load of wagon timber which was purchased in July at a cost of about $7,000? $1,000?. The company up to the year 1879, had purchased coke by the ton in Salt Lake city; this year they contracted for a car load, thereby saving nearly 50 percent. They also had bought their coal by the ton; they now buy 20,000 pounds at a time, thereby saving 30 percent. Big iron is purchased direct from the east; also the greater part of the wrought iron is bought in the east. In the beginning of the year 1879, the wages of most of the hands employed were raised about 20 per cent. The company employed 26 hands in summer and 19 in the winter. The statement of business for the year 1879 is for eleven months in consequence of a change in the fiscal year making it end Dec. 31, 1879, instead of Jan. 31, 1880. The statement shows the total resources to be $14, 981.72 and the total liabilities, $13,711.05; the net gain for eleven months being $1,179.67; which is 31 and 640 per cent on the capital stock paid up. The directors of the company have declared a dividend of 15 per cent. They also paid? 5 per cent, to depreciation of buildings, &c.; and the balance of gain goes to the reserve account, which now amounts to $3,200. Among the machinery and other articles made during the year may be mentioned one entirely new wood planer; also one wood planer made over for the Parts Co-op. which had been nearly destroyed by fire; seven entirely new shingle mills; 13 water tanks for the U. & N. R.R.; 81 school desk castings; and a large variety of articles, such as sad irons, wheelbarrow wheels, and stove grates and locks; repairs in great variety have also been done. The annual meeting of the company was held Wednesday evening, Jan. 14, 1880, and the following officers re-elected: B. M. Lewis, O.C. Ormsby, C.R. Robbins, C.H. Lundberg, Robert Croft, directors; Edward Hanson, secretary, Ezra D. Carpenter, treasurer. |