Annual report. Mergenthaler Linotype Company. Brooklyn, N.Y., The Co. http://hdl.handle.net/2027/ien.35556003385879 Public Domain, Google-digitized http://www.hathitrust.org/access_use#pd-google We have determined this work to be in the public domain, meaning that it is not subject to copyright. Users are free to copy, use, and redistribute the work in part or in whole. It is possible that current copyright holders, heirs or the estate of the authors of individual portions of the work, such as illustrations or photographs, assert copyrights over these portions. Depending on the nature of subsequent use that is made, additional rights may need to be obtained independently of anything we can address. The digital images and OCR of this work were produced by Google, Inc. (indicated by a watermark on each page in the PageTurner). Google requests that the images and OCR not be re-hosted, redistributed or used commercially. 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L _\ 1 4, .., - _ X 1. ..f v . ._....v..._~_vVA_&-.J._QIW 333, 761/ M56! ‘/4//-5U 2?/2.; AQ Mergenthaler Linotype Company REPORTS PRESENTED AT THE ANNUAL MEETING OF STOCKHOLDERS OCTOBER 18, 1911 EXECUTIVE OFFICES; TRIBUNE BUILDING, N1-:w YORK FACTORYI BOROUGH OF BROOKLYN, NEW YORK Northwestern Univcny The Joseoh Schnffinr L51‘, PRINTED DIRECT FROM LINOTYPE SLUGS 1145 ORGANIZATION CAPITAL STOCK ISSUED-$I2,797,800 (Authorized— $15,000,000) INCORPORATED UNDER THE LAWS OF THE STATE OF NEW YORK President and General Manager: PHILIP T. DODGE. Vice-President: OGDEN MILLS. Secretary and Treasurer: FRED’K _]. WARBURTON. Directors: OGDEN MILLS, WHITELAW REID, PHILIP T. DODGE, SIR JOSEPH LAWRENCE, ROBERT I. GAMMELL, E. V. MURPHY, ALBERT H. SAWYER, OGDEN L. MILLS, NORMAN DODGE Executive Committee: OGDEN MILLS, ROBERT I. GAMMELL, PHILIP T. DODGE, E. V. MURPHY, OGDEN L. MILLS. Second Vice-President: NORMAN DODGE. Third Vice-President: THOS. _]. MERCER. Ass’t and Treas.: Sec’y ]. WILLIS HEARD. Registrar of Transfers: METROPOLITAN TRUST COMPANY 7890‘? iJ;».;3lTi llUH—iE»i»’B3"iElil€ Uiii SEP 1 1915 S»pliL.0L Ut’ i}il..l1.iIlT%tJl~} IIBF..‘t.i‘i PRESIDENT’S REPORT the of To the Board of Directors Mergenthaler Linotype Company. Gentlemen: a I submit the following as report of the operations of your Company for the year ending September 30, 1911. Notwithstanding the general depression in the printing in dustry of the United States, due to the disturbance and un certainty existing in other industrial fields, the business of the Linotype Company has been large and satisfactory. As will be seen on reference to the accompanying report of the Treasurer, the net gain for the year was $2,733,269.51. The use of the Linotype is being extended to the most remote parts of the world, in large offices and small, and to all classes of composition, simple and complex, in many languages. It is used in the production of nearly all daily newspapers of America, the leading dailies of most foreign countries, and a. great number of weeklies. is It also used in the production of periodicals in great numbers, and of books of the highest class, including mathe matical works, dictionaries, and encyclopedias containing intri cate arrangements of matter and combinations of various type: faces. Through recent improvements it has become available also for the composition of newspaper headings and advertising mat ter demanding type faces of sizes heretofore considered impos sible, and the mixture of faces differing greatly in size and style. The American Linotype shops have produced about l6,000 machines, which are distributed throughout the world. To these must be added about 10,000 machines from the English, German, and Canadian shops. The reliability and desirability of the Linotype is shown by the fact that there are still in operation, and in good condition, many machines which have run day and night in newspaper offices for nearly twenty years. This is due in part to the policy of the Company, which supplies at moderate prices all those minor parts liable in the course of time to be affected by wear. As a matter of fact the ordinaray cost of maintenance is so small as to be almost negligible. From the beginning the improvements and attachments, de veloped from year to year, have, as far as possible, been designed for application to earlier machines, and sold at fair prices, thus enabling the machine users to modernize their plants. More than twenty languages are composed in more than five hundred faces, and in order that this may be done more than one hundred million brass letter matrices, for use in the machine, are carried in stock. The Linotype machine has revolutionized the printing in dustry of the world. It has led to an enormous increase in the volume of printing, cheapened the cost, increased the profits, shortened the hours of labor, and increased the pay of the com positors. It has been in every way beneficial to the employer and employee, and because of the growth of business, due largely to the machine, there are more compositors employed than at the time of the machine’s introduction. Continuing the practice of past years, experimental work has been carried on continuously, and during the year three new forms of machine have been placed on the market. Two of them mark a great advance in the art. One, designed more particularly for newspaper work, carries a series of magazines, each containing matrices for two faces, so arranged that change from one style of type to another may be effected by the operator in a moment, thus avoiding the loss of time and labor involved in making a like change in earlier ma chines. This machine, already in extensive use, is meeting with universal approval, and promises to become the standard machine in newspaper and many other oflices. The second machine carries a still larger series of maga zines, and is so constructed that the operator may instantly cause the production of any one of many faces, which may differ widely in size and design; and may also compose different faces in one line. This machine is the highest development in the art, and is adapted for many important classes of work impossible on any other machine, and heretofore done solely by hand. The third machine, of simple design, is intended to meet the needs of the small offices, and offices in which price is the chief consideration. Although serviceable and reliable it is offered at a much smaller price than any other high class machine. The indications are that it will find an extended sale and meet the needs of a very large number of printers who now confine them selves to hand composition. The foreign interests of the Company are in satisfactory con dition .and are being steadily advanced and strengthened. The British company, “Linotype and Machinery, Limited,” having its office in London and works at Broadheath, near Man chester, constructs Linotype machines, printing presses and other printing machinery. During the year the works have been en larged and additional machinery provided. This Company has also placed on the market improved Linotypes with multiple magazines, and new classes of presses. While the volume of businessand the earnings were increased, the expenditures and the indebtedness are such that no cash dividend is anticipated in the near future. The debenture indebtedness of this Company is not a charge against the American Company. The German company, the “Mergenthaler Setzmaschinen Fabrik” of Berlin is in most satisfactory condition. During the year it has also placed a new and important form of machine on the market. In all ways its management has been rigorous, ef ficient, and such as to safeguard the future. Its business has in creased both in volume and in net earnings. In Canada the sale of machines in satisfactory numbers con tinues although there was great interruption because of the reci procity issue and promised free trade. Manufacturing operations in the Montreal shop have been greatly reduced because the territory will not, at present, justify the large expenditure for the special tools and machinery needed for their production. In the Brooklyn factory numerous changes and improve ments have been made, looking to increased efficiency. In order to carry on this work and give increased security it will probably be advisable to replace certain of the existing buildings by fire proof structures during the coming year. Although labor and material have steadily advanced in cost for some years, Linotype machines of the same class are sold at the prices prevailing nearly twenty years ago. In the meantime the Company has reduced the daily hours of labor in the Brooklyn works from ten to eight, has increased wages, and has contributed liberally for the benefit of sick workmen and to the families of deceased workmen. The maintenance of earnings under the above conditions has been possible only by persistent effort, the adoption of modern’ methods and tools, and by capable superintendence.