Quotulatiousness

October 6, 2014

Winners and losers when Wal-Mart (and Amazon) came along

Filed under: Business, Economics — Tags: , , — Nicholas @ 18:33

William Shughart refutes the “dark side of Amazon” meme by pointing out what it was like before Amazon and Wal-Mart:

Before the advent of Wal-Mart, rural America was a retail desert. Small shops, limited product availability and, yes, “hometown service”. But the prices of most items were high because the only alternative to shopping locally was to drive to the nearest city or order through the Sears or JC Penney catalog and depend on timely delivery by the US mail in, it was to be hoped, an undamaged package. The downside of local retail shops (limited options and high prices) fell most heavily on low-income households, which may not have had an automobile or could not afford to take time off work to shop at larger urban retailers or even at local merchants, which typically closed at 5 p.m. Wal-Mart solved both problems in one fell swoop.

Sure, local retailers suffered losses of business and some were forced into bankruptcy, but consumers (the only group whose welfare matters in a free market economy) won big-time. Amazon has generated benefits for consumers many times larger than Sam Walton ever dreamt of.

But what about the jobs that disappeared in local retail outlets as Amazon and Wal-Mart drove costs (and prices) down by inventing markedly more efficient distribution networks and negotiating lower prices with manufacturers and other suppliers on behalf of millions of consumers with little bargaining power of their own? An economic system’s chief purpose is to create prosperity (wealth), not jobs. Creating jobs — at the point of a gun, as Josef Stalin proved, or as FDR did by drafting millions of men to shoulder arms against the Axis powers — is easy; creating wealth is not. Prosperity materializes only if existing resources (land, labor and capital) can be utilized more efficiently, squeezing out “waste” and redundancy so that resources can be released from current employments and redirected by alert entrepreneurs to the production of new products that consumers may not even know they want (an iPhone ten years ago, for example) until they become available.

Hightower bemoans the working conditions in Amazon’s warehouses, a few of which literally become sweatshops during hot summer months. I am willing to bet, however, that if the people employed in one of Amazon’s “dehumanizing hives” (his phrase) were asked whether they wanted to quit their jobs, not one hand would be raised, especially so in an economy with an unemployment rate still hovering around six percent and a rate of underemployment twice that figure.

Pollsters are finding it even harder to get people to talk to them

Filed under: Business, Politics — Tags: , — Nicholas @ 18:06

In Mother Jones Kevin Drum discusses the plight of the poor poll organizations who have seen yet another drop in their telephone response rates. A recent report said that the average response rate for polling companies this year is 11.8%, and that’s a 1.9% drop from 2012. It probably explains why the polls seem less accurate every election.

I assume the problem here is twofold. First, there are too many polls. A few decades ago it might have seemed like a big deal to get a call from a Gallup pollster. Sort of like being a Nielsen family. Today it’s not. Polls are now conducted so frequently, and the public has become so generally media savvy, that it’s just sort of a nuisance.

More generally, there are just too many spam phone calls. The Do Not Call Registry was a great idea, but there are (a) too many loopholes, including for pollsters, and (b) too many spammers who don’t give a damn. When the registry first went on line, my level of spam phone calls dropped dramatically. Since then, however, it’s gradually increased and is now nearly as bad as it ever was. I won’t even pick up the phone anymore if Caller ID suggests it’s a commercial call of some variety.

We’ve been seriously talking about dropping our land line: fewer than one call in ten is from anyone we know or do business with. Most of them are (real or fake) surveys, “Microsoft” scam calls, and “You’ve won a cruise!” spam. WestJet seems to think I’ve flown with them and keeps calling me to say “Thank you for flying WestJet” (the harassing phone calls make it exceedingly unlikely that I’d voluntarily do any business with them if I have a choice in the matter). My favourites are the “This is a very important call about your current credit card.” Those ones we hang up within three syllables on average.

October 4, 2014

The “Herod Clause” to get free Wi-Fi

Filed under: Britain, Business, Humour, Law, Technology — Tags: , , — Nicholas @ 10:48

I missed this earlier in the week (and it smells “hoax-y”, but it’s too good to check):

A handful of Londoners in some of the capital’s busiest districts unwittingly agreed to give up their eldest child, during an experiment exploring the dangers of public Wi-Fi use.

The experiment, which was backed by European law enforcement agency Europol, involved a group of security researchers setting up a Wi-Fi hotspot in June.

When people connected to the hotspot, the terms and conditions they were asked to sign up to included a “Herod clause” promising free Wi-Fi but only if “the recipient agreed to assign their first born child to us for the duration of eternity”. Six people signed up.

F-Secure, the security firm that sponsored the experiment, has confirmed that it won’t be enforcing the clause.

“We have yet to enforce our rights under the terms and conditions but, as this is an experiment, we will be returning the children to their parents,” wrote the Finnish company in its report.

“Our legal advisor Mark Deem points out that — while terms and conditions are legally binding — it is contrary to public policy to sell children in return for free services, so the clause would not be enforceable in a court of law.”

Ultimately, the research, organised by the Cyber Security Research Institute, sought to highlight public unawareness of serious security issues concomitant with Wi-Fi usage.

October 3, 2014

QotD: Marketing

Filed under: Books, Business, Media, Quotations — Tags: , — Nicholas @ 00:01

Among those currently imagining our possible futures, one of the most persuasive is the novelist William Gibson, who, having evolved quite a bit past the man who wrote Neuromancer in 1984, can hardly be said to be imagining futures at all, with his most recent novels constituting, in his words, “speculative fiction of the very recent past,” more oriented toward social situations than technological situations. With the possible exception of David Foster Wallace, no novelist of whom I am aware has ever written with such freshness and imagination on the subject of advertising and marketing, which is a big part of what Wallace called “the texture of the world I live in.” Nor has any novelist quite so precisely identified what is sinister in our world of ubiquitous sales pitches: that something whose entire purpose is to be at the center of our attention still manages to be somehow covert. The marketing mentality is an invasive species; earnest young people now speak entirely seriously about their “personal brands” at the same time they complain about the commodification of this or that. Gibson understands the strangeness of our times, and my own mental shorthand for the odd little details one sometimes encounters, particularly in urban life, when one identifies something that is entirely ordinary and yet feels as if it were not in its right time and place, is “Feeling like I’m living in a William Gibson novel.”

Kevin D. Williamson, “Futures Trading: We are no longer thinking about the future because we believe we are there”, National Review, 2014-10-01.

October 1, 2014

The CRTC tries bully boy tactics to stay vaguely relevant in the 21st century

Filed under: Bureaucracy, Business, Cancon, Media — Tags: , , , — Nicholas @ 11:08

Richard Anderson perfectly captures the scene as the Canadian Radio-television and Telecommunications Commission (CRTC) attempts to browbeat Netflix into “voluntary” compliance with its (possibly extra-legal) demands:

Caudilho Jean-Pierre Blais of the CRTC actually ordered Netflix to hand over their confidential information. Acting as if he was a judge in a criminal trial instead of a busybody interfering with a successful business that is violating no one’s rights. It’s questionable as to whether the CRTC even has the legal power to make such a request. Netflix is not a broadcaster in any traditional sense of the word. The story behind the story is that a Trudeau-era regulatory framework is running smack up against the modern world.

With technology speeding past the CRTC Mandarins they are confronted with three options: 1) Acquiesce and watch as time turns them into a medieval guild during the industrial revolution. 2) Lobby the government to explicitly expand their powers over the internet. 3) Say to hell with the rule of law and see what they can get away with.

Option 1 ain’t happening because too many cushy jobs are at stake. Option 2 ain’t happening because the Tories may not understand capitalism but they don’t actively hate it. This leave us with option 3. As you can tell it is by far and away the worst option. This isn’t just a bad for consumers story it’s a bad for freedom story as well.

At the moment much of the media is focused on the pick and pay cable model debate. But the debate is little more than a statist three card monte trick, the government’s crude attempt to legislate business into behaving like what they think a free market should look like. The future, however, is being decided in the Netflix case.

September 30, 2014

French restaurant food quality is declining – send in the regulators!

Filed under: Bureaucracy, Business, Europe, Food, France — Tags: , — Nicholas @ 08:07

Tim Harford on the recent French government attempt to “fix” the declining quality of food served in restaurants:

“Each time I visit the city the food gets worse and worse.” Tyler Cowen, economics professor, foodie and author of An Economist Gets Lunch, despairs of Paris. Cowen isn’t the only person to lament the state of French cuisine. This may be why — in a quintessentially French move — the nation’s government has introduced a new law in an attempt to improve standards.

The quixotic law in question is public decree No. 2014-797, more popularly known as the “fait maison” rule, in which restaurants may use a new saucepan-with-a-roof-and-chimney logo on the menu beside any dish that is made on the premises. More accurately, the restaurants must use the saucepan-with-a-roof symbol to denote house-made dishes, but the definition of house-made is rather whimsical, thanks to French legislators.

The entire affair seems unlikely to improve French cuisine but it does provide a nice lesson in practical economics: regulation is a superficially appealing answer to life’s problems but often fails to provide real solutions.

[…]

A third problem is that the regulation may produce unintended consequences. Consider a chef who offers a fresh fruit crumble alongside a selection of factory-made cakes and puddings. By law, he or she must display the fait maison logo beside the crumble, implicitly damning all his or her other dishes. Such chefs might decide to offer no house-made dishes at all, rather than bring unwelcome questions to the forefront of their customers’ minds.

Policymaking is flawed and crude while the world is subtle and unpredictable. That is why regulations are often rigged from the start, are only peripherally related to the real matter of concern and have a tendency to backfire.

September 20, 2014

Can you trust Apple’s new commitment to your privacy?

Filed under: Business, Technology — Tags: , , , — Nicholas @ 12:32

David Akin posted a list of questions posed by John Gilmore, challenging the Apple iOS8 cryptography promises:

Gilmore considered what Apple said and considered how Apple creates its software — a closed, secret, proprietary method — and what coders like him know about the code that Apple says protects our privacy — pretty much nothing — and then wrote the following for distribution on Dave Farber‘s Interesting People listserv. I’m pretty sure neither Farber nor Gilmore will begrudge me reproducing it.

    And why do we believe [Apple]?

    • Because we can read the source code and the protocol descriptions ourselves, and determine just how secure they are?
    • Because they’re a big company and big companies never lie?
    • Because they’ve implemented it in proprietary binary software, and proprietary crypto is always stronger than the company claims it to be?
    • Because they can’t covertly send your device updated software that would change all these promises, for a targeted individual, or on a mass basis?
    • Because you will never agree to upgrade the software on your device, ever, no matter how often they send you updates?
    • Because this first release of their encryption software has no security bugs, so you will never need to upgrade it to retain your privacy?
    • Because if a future update INSERTS privacy or security bugs, we will surely be able to distinguish these updates from future updates that FIX privacy or security bugs?
    • Because if they change their mind and decide to lessen our privacy for their convenience, or by secret government edict, they will be sure to let us know?
    • Because they have worked hard for years to prevent you from upgrading the software that runs on their devices so that YOU can choose it and control it instead of them?
    • Because the US export control bureacracy would never try to stop Apple from selling secure mass market proprietary encryption products across the border?
    • Because the countries that wouldn’t let Blackberry sell phones that communicate securely with your own corporate servers, will of course let Apple sell whatever high security non-tappable devices it wants to?
    • Because we’re apple fanboys and the company can do no wrong?
    • Because they want to help the terrorists win?
    • Because NSA made them mad once, therefore they are on the side of the public against NSA?
    • Because it’s always better to wiretap people after you convince them that they are perfectly secure, so they’ll spill all their best secrets?

    There must be some other reason, I’m just having trouble thinking of it.

Corporate inversions

Filed under: Business, Economics — Tags: , — Nicholas @ 11:56

The most recent corporate inversion that hit the news — Burger King and Tim Hortons — may or may not work out, but it’s generally a sensible economic strategy that can yield strong results for the shareholders. In the most recent issue of The Freeman, Stewart Dompe and Adam C. Smith talk about why inversions are an example of competitive governance in action:

Populist themes like “economic patriotism” may appeal to voters, but such arguments are nonsensical: Firms are ultimately responsible to their shareholders. As Judge Learned Hand wrote, “Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.”

If anything, firms have a moral responsibility to minimize their taxable liabilities. The legal structure of a firm establishes the relationship between shareholders, who own the capital, and managers that make operating decisions. Executives have a fiduciary responsibility to pay the lowest tax possible because they are the stewards of their shareholders’ wealth. There is no functional difference between an executive who spends millions of dollars on a lavish party and an executive who gives that money to Washington instead—except that the former is probably a lot more fun to be around.

Think about tax compliance like a rent check owed to one’s landlord, with the added complication that it’s very difficult to move. Suppose a tenant is currently renting multiple apartments at one location, but decides the rent is just too damn high. Since the tenant can’t relocate entirely, suppose she moves some of her stuff out of one of the apartments into a storage unit across town, thus saving significantly on her rent. Would this be seen as unethical in that the tenant is attempting to avoid her fiduciary obligation to the landlord? Of course not. She is simply trying to reduce the costs of residing in a particular location.

In the same vein, minimizing the firm’s tax burden means minimizing part of the firm’s operating costs. Just as a resource manager can identify a more cost-efficient way to produce goods and services, so can a tax lawyer identify a more cost-efficient way of maintaining tax compliance. A business has no moral obligation to always use the same suppliers, be they suppliers of production inputs or corporate charters. The law is the law and firms have the option of changing how they are structured and located in order to minimize their taxable liabilities. If they use loopholes, so be it: Loopholes are by definition legal. Firms only have the obligation to pay the tax mandated by the law.

September 17, 2014

Adrian Peterson won’t play this week (or perhaps for the rest of the NFL season)

Filed under: Business, Football, Law — Tags: , , , — Nicholas @ 15:44

I haven’t been posting much about the Adrian Peterson situation, partly because I was still waiting for the picture to clarify and partly because it just depressed the hell out of me to think about it. I agreed with the Vikings’ decision to deactivate Peterson for Sunday’s game against New England, even though it clearly distracted the team and disrupted the game planning: it was the right thing to do. I was shocked and dismayed when the team announced that Peterson would be returning to the team on Monday and would play this weekend in New Orleans.

I wasn’t alone in my reaction: the fans, the media, and even the team’s sponsors reacted very negatively to the announcement. The governor of Minnesota weighed in on the issue and his intervention had to be awkward, as he’d been a major supporter of the team’s campaign to get public funding for their new stadium now under construction. Some Viking players were happy to have Peterson back, but even there the support was not as widespread as it might have been … players from the south were much more vocal in their support than those from elsewhere in the nation.

As Monday wore on, a few more pebbles came loose from the PR dam, as the team learned from one sponsor after another that they were suspending or contemplating ending their promotional relationship with the team. Companies and organizations with a direct relationship to Peterson himself were even more direct: Nike, for example, ordered their retailers in Minnesota to stop selling any items branded with Peterson’s name or number.

The team’s ownership and management met late last night to hammer out a new answer to the PR disaster that had landed on them on Friday and had been made far worse by their Monday decision. Shortly before 1 a.m., the team announced that they’d made a mistake and that Peterson would not be active for the coming game. Instead, he’s being put on the NFL’s little-known exempt list, meaning that he’ll be paid his salary but will not be with the team until his legal issues are resolved. Although he’s being paid, he will not count against the team’s 53-man roster.

ESPN1500‘s Andrew Krammer has more:

Instead of Mike Zimmer and Matt Cassel commanding the podium on a typical Wednesday at Winter Park, Minnesota Vikings owner Zygi Wilf issued a statement and Mark Wilf, general manager Rick Spielman and team attorney Kevin Warren took questions about getting “it right,” a mantra uttered nearly 30 times in the 17-minute press conference.

Running back Adrian Peterson has been placed on an exempt list, an order directed by the Vikings, agreed to by Peterson and made possible by NFL commissioner Roger Godell’s oversight. The Vikings’ decision comes two days after the team held a similar press conference at the same location announcing Peterson’s reinstatement.

Public outcry from fans, media, sponsors and even Governor Mark Dayton prompted the change, as Mark Wilf said: “We value our partners, sponsors and community, and especially our fans. In the end, it’s really about getting it right.”

Peterson will be paid his full salary while sorting out his legal matters, which assistant DA Phil Grant has reportedly said could take “nine to 12 months” to go to trial, though a judge can lengthen or shorten at his/her discretion.

The $12 million question for the Vikings is: Will Peterson play another game in 2014? If not, will he ever don the Vikings purple again?

“Until these legal matters are resolved, he will remain on this exemption list,” Spielman said.

SpaceX and Boeing get NASA funding for 2017 deadline

Filed under: Business, Space, Technology — Tags: , , , — Nicholas @ 08:11

In Ars Technica, John Timmer reports on the NASA decision to fund two of the three competitors for manned launches to the ISS:

Today, NASA administrator Charles Bolden announced that there were two winners in the campaign to become the first company to launch astronauts to low-Earth orbit: Boeing and SpaceX. The two will receive contracts that total $6.8 billion dollars to have hardware ready for a 2017 certification — a process that will include one crewed flight to the International Space Station (ISS).

In announcing the plan, Bolden quoted President Obama in saying, “The greatest nation on earth should not be dependent on any other nation to get to space.” And he promoted the commercial crew program as a clear way of ending a reliance on Russian launch vehicles to get to the ISS. But Bolden and others at the press conference were also looking beyond that; several speakers, including Kennedy Space Center Director Bob Cabana and astronaut Mike Fincke, mentioned that the ultimate goal is Mars.

To that end, Bolden emphasized that NASA is still doing its own vehicle and rocket development. The Orion crew capsule, intended to be suitable for missions deeper into the Solar System, recently underwent a splashdown test in the Pacific. Its first test flight aboard a Delta IV rocket is scheduled for this December. Work on the Space Launch System, a heavy lift vehicle that can transport the additional hardware needed for deep space missions, was also mentioned.

September 12, 2014

Scottish businesses face a “day of reckoning” after a Yes vote

Filed under: Britain, Business, Politics — Tags: , , , — Nicholas @ 16:04

Usually, when someone is planning to punish their political enemies, they keep quiet about it until the votes are counted. The former deputy leader of the Scottish National Party is pretty forthright about just who is going to be facing punishment if Scotland votes yes:

Former SNP deputy leader Jim Sillars has claimed there will be a “day of reckoning” for major Scottish employers such as Royal Bank of Scotland and Standard Life after a Yes vote.

Speaking from his campaign vehicle the “Margo Mobile”, Mr Sillars insisted that employers are “subverting Scotland’s democratic process” and vowed that oil giant BP would be nationalised in an independent Scotland.

Earlier this week, a number of banks, including Lloyds Banking Group and RBS, said they would look to move their headquarters south of the border in the event of a Yes vote.

Mr Sillars, who earlier this week claimed he and First Minister Alex Salmond had put their long-held personal differences behind them to campaign together for independence, also revealed that he would not retire from politics on 19 September but said he would be “staying in” if Scotland became independent.

He claimed there is talk of a “boycott” of John Lewis, banks to be split up, and new law to force Ryder Cup sponsor Standard Life to explain to unions its reasons for moving outside Scotland.

He said: “This referendum is about power, and when we get a Yes majority, we will use that power for a day of reckoning with BP and the banks.

“The heads of these companies are rich men, in cahoots with a rich English Tory Prime Minister, to keep Scotland’s poor, poorer through lies and distortions. The power they have now to subvert our democracy will come to an end with a Yes.”

If I had any investments in Scotland, I would be calling my broker to review them in the light of this pretty specific set of economic and political goals for an independent Scotland. It won’t be a safe place to invest any kind of retirement savings if Sillars represents more than a fringe of the SNP.

Welcome to Indiana, here is your regulatory compliance brewpub menu

Filed under: Bureaucracy, Business, Food, USA — Tags: , , — Nicholas @ 08:00

Indiana, like most states, has some odd laws still on the books from the immediate post-Prohibition era, including a “food requirements” rule that specifies that any establishment that serves retail alcoholic beverages must also maintain a restaurant on-site. That restaurant is required to serve certain specific food items. This is how the Bank Street Brewhouse complies with the law:

Indiana regulatory compliance menu

As you can see, this fully complies with the wording of the rule which requires “a food menu to consist of not less than the following:”

  • Hot soups.
  • Hot sandwiches.
  • Coffee and milk.
  • Soft drinks.

H/T to Katherine Mangu-Ward who has more on the ridiculous requirements.

September 7, 2014

Amazon and the taxman

Filed under: Britain, Business — Tags: , — Nicholas @ 11:52

Tim Worstall discusses how Amazon structures its business to meet various efficiency targets, a major one being the need to be as tax-efficient as possible. This upsets many political commentators, who all seem to believe that businesses should structure their activities to pay as much tax as possible:

… it’s exactly the tax laws that create one of those synergies that keeps Amazon as the one single company (even if with many different divisions and P&L centres). Because if it were a series of separate companies then those mature businesses, the ones making profits, could not simply switch their profits over to the subsidisation of those newer businesses. Instead, they would have to declare those profits, 35% would float off towards Uncle Sam and thus there would be less of that free cash flow to invest in those newer businesses.

The way the tax laws work are what keeps Amazon from splitting out those profitable businesses from those ones not yet mature enough to be making a profit.

Which brings me to the second point, one more about British political economy. We have a prolific commentator over here who insists on two separate points. I’ll not name him in order to spare his blushes but he’s often referred to as the UK’s leading tax expert. The first thing he insists upon is that Amazon doesn’t pay very much corporation tax (entirely true) but also that it ought to. The second is that many companies have vast amounts of cash, profits they have made in the past, which they don’t know what to do with. Those cash reserves should therefore be taxed away so that they can be spent on what our tax expert thinks are good uses for other peoples’ money. What I enjoy so much about this is that he manages to believe both things together. A company like Amazon, which obviously does know what to do with its free cash flow, should be taxed more. And companies that don’t know what to do with their free cash flow should also be taxed more.

It’s as if the only answer to anything ever is higher tax rates. Rather like if all you’ve got is a hammer then everything gets treated as a nail. I can’t help thinking that the views of a leading expert in anything, let alone tax, ought to be a little more subtle than that.

September 6, 2014

Feschuk debriefing – Tim Hortons is not a national treasure

Filed under: Business, Cancon, Food, Humour — Nicholas @ 11:27

In Maclean’s Scott Feschuk attempts to win the title of “most hated man in Canada” by explaining to Canadians that the Tim Hortons on the corner is not a national shrine:

Have a seat, Canada. Are you comfortable? Good, that’s good.

I noticed you’ve been in a downward spiral since Burger King announced its plan to buy Tim Hortons for $12 billion — or roughly $1 for every Tims on Yonge Street in Toronto.

You’re worried about what the takeover will mean for your morning coffee — and for the corporation that is traditionally depicted in our media as adored, iconic and able to cure hepatitis with its doughnut glaze. (I’m paraphrasing.)

I’m here to help. This is a safe place, Canada. I want to see you get through this. Which is why I need you to listen to me closely. These words will be painful, but it’s important you hear them:

Tim Hortons is not a defining national institution. Rather, it is a chain of thousands of doughnut shops, several of which have working toilets.

Tim Hortons is not an indispensable part of the Canadian experience. Rather, it is a place that sells a breakfast sandwich that tastes like a dishcloth soaked in egg yolk and left out overnight on top of a radiator.

[…]

Canada, you sure do like your double-double — or, as it is by law referred to in news reports, the “beloved double-double.” But here’s a newsflash for you: If you drink your coffee with two creams and two sugars, the quality of the coffee itself is of little consequence. You’d might as well pour a mug of instant coffee or sip the urine of a house cat mixed with a clump of dirt from your golf spikes. It’s all basically the same thing once you bombard it with sweet and dairy. You’re really just wasting your …

I see from your reaction that I’ve crossed a line. I hereby withdraw my defamatory comments about the double-double and kindly ask that you return that handful of my chest hair.

September 4, 2014

A deluge of public domain images

Filed under: Business, Cancon, History, Media — Tags: , , — Nicholas @ 00:02

Techdirt‘s Mike Masnick alerted me to a new source of old images:

Here’s some nice news. Kalev Leetaru has been liberating a ton of public domain images from books and putting them all on Flickr. He’s been going through Internet Archive scans of old, public domain books, isolating the images, and turning them into individual images. Because, while the books and images are all public domain, very few of the images have been separated from the books and released in a digital format.

There are all sorts of images in this stream, so you never know what you’ll find when you dive in. Here, for example is an image used in Canadian grocer January-June 1908:

Crown illustration from Canadian Grocer 1908

Which, if you follow the link to the original publication, was isolated from this page of ads:

Full page from Canadian Grocer 1908

Or the rather impressive works of George White & Sons in London, Ontario:

George White and Sons, London Ontario 1913

This image appeared in Canadian Machinery and Manufacturing News (January-June 1913), illustrating a “Staff article” about the company:

A description of the works of an old established firm building threshing machinery, traction engines, etc. The plant has been gradually built up to its present size, the foundry being the latest addition. The company maintain two branches in the West and have agencies in all the principal cities and towns in the grain growing districts of Canada.

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