The Lucknow Sentinel, 1961-05-17, Page 8t,1.••••114
W.iHiOi...s Invo��e�i In Purchase
THE LUCKNO.W SENTINEL,. LUCKNOW, ONTARIO.
Of 'Biafty•Firm By.' Toronto'.1.0terests..
Last week The Sentinel an
nounced the sale of the Beatty
Brothers stock to Toronto in-
terests in: a major industrial
transaction which includes the
local plant .of the Beatty Ladder
Factory. • I $.
• The cuts ' and* the' following
more detailed story 9f- the trans-
action appeared in the Kitchener
B,ecord.,„ ` .
Control of
,.Beatty Bros. Lrtd..,—..
Fergus' main industry 'and long
time benefactor—has passed out.
cif the hands of the Beatty family.
It was announced after a board
sof directors' meeting in Toronto
that most of ,the Beatty . stock,'.
enough to give controlling .inter
gest, . has been sold to Ralph M.
'Basford • of Toronto and three
associates
Some details of the sale have
not been 'confirmed. But it is;
.understood the Barford . group
paid more.. than $3,750,000, for
the, • 'estimated 250,000 shares ., of
RALPH M. BA+RF'ORiD
stock. It gives the group just.
over 51 per cent of the shares'
and control of the firri esta-
blished' in Fergus .in .1874.
The sale ,-comes three weeks
after the death of, George Ernest
Beatty, president of the firm,
who helda large portion of the.
stock.
Will 'Head Firm' `•
Mr. Barford will become pres
ident. He is married to a former
Fergus girl, 'Elizabeth Stevens,
and Steven. s
a daughter of Mr. and. Mrs,How-
of Fergus,
,'Last year for a reported $1,-
250,000, Mr. Barford sold the
National Merchandising Company.
of Boston, a ' sales organization
which he had formedafter leav-
ing the staff of Harvard School
of Business..- He still • owns' a
Toronto • branch of •the. Boston
firm known as Dominion Menhir._
andising .Company.
Associates of Mr.. Barford in
the. Beatty purchase • are . °Robert
A. Stevens, a brother of •Mr. Bar -
ford's wife and ,secretary -treasur-
er of , his Toronto firm, George
R. Gardiner, a member<of the
Toronto • . Stock Exchange and
president of Gardiner,, Watson
Company, Limited, To onto• stock
brokers and. MargareP., Hynd-
man . QC, Toronto corporation
lawyer.
Mr. Stevens will become 'eK;4.
ecutive vice-president in charge
of sales; Mr. Gardiner, chairinan
of the board,. and Miss Hyndrna n,
a director c ' .. •:
• Tw.o members of,- the Beatty:
family, .David. and Frederick
S. — will` remain with the .com
pang. David Beatty, will be a
vice -'president and . director, and.
Frederick S., a director.
Albert A. P. 'Menzies, the firm's
general manager. -and a 'director
for the,,past four yearsi ,will : be
a vice-president and general ma-'
eager. He has been with: ,the firm
for 26 years.
, Control Bid Fails
Attempts 'to gain' ;control- of
the .Beatty firm by several sour-
ces in ' February were unsuccess
ful. At that 'time an. offer, sub
mitted. by Canada Trust Com
ROBERT A,
STEVENS
FIREDERICK , ;
BEATTY,':..
PAVIg
BEAT'IT
ALBERT
MENZIES
1VIARGARET
. H. YNDVf AN -
GRAVEL FOR LANES and CEMENT , WORK
also
FILL and TOP SOIL
TRUCKS and` LOADER FOR HIRE
CEMENT'• and CARPENTRY • WORK
Phone 2$6,Lucknow, or. Contact
.r,, 44.....••4.,..,. •....•N.+., . , ...,
news' INSURANCE AgOncy
GENERAL INSURANCE
also
' CAF. and TRUCK 'FINANCING AT,' LOWER . COST'
Business 39 HOWARD AGNEW Residence
W., •
131
MONUMENT'S
For sound'.cousel and a fair price on a monument
correctly designed ,.fromquality material,/
rely on
SKELTON MEMORIALS
Pat O'Hagan, Prop.
Established Over Siixty, Years
Walkerton ' Phone 638-w
•
't]tario
GEORGE • R..
GARDINER
AM COMPLETELY
EW
CONCEPT Ifo
EXTERIOR
_PAINTS
WEDNESDAY, MAT 17th,. 1941
w�o_r r� AUT �INISI
o For wood siding; shingle:„
shakes, stucco, cement, cinder
block or nbesios siding
Dries in' 30 minutes
•: • Cleans yup with: soapy water
' '• Durable surface lasts !anger
Permanent colors/
4 SENSATIONAL' NEW PAINT FROM
ardware
•Beniami i
,00ze
.Lucknow
4..
the 'Fergus News -Record said that:
'the • 'late. George .`Beatty refused„
to .'sell 'to any purchaser' . who/
,would not keep the ' Company.
going::' The, ; purchasers' are. •. no
strangers to• Fergus people. ,and'
the News -Record.' said,; "If the
:shares had .to, be sold no ..better
purchaser•.:•coul4' .be- found. We;
feel. 'that Fergus, people and. es.
pecially'`those. connected with the
firm. :should .be happy about "the.
latest news. The deal was given
'the O K. by the late George Beat
ty,,' though he .died before, it was'
completed."
/ Mr. : Albert . Menzies,` who is
known, to, 'a number in'Lugknow,
has been with Beatty's .for :26
years. •He _i$, vice-president ' • and
general manager and of him the,
News -Record says, , "Fergus peo-
ple will : haveevery confidence in
Mr. Menzies and .his . abiii.ty."
BOY:SCO'UTNEW$.
:1st KINLOSS 'CUBS.
Tlie fine : -Seeding. 'weather' on
Friday caused a shortage of 'lead
ers 'I`t alsddisrupted other: plans
for the , evening so we: rounded
up. a bat .and bali,::Chose-up 'ball'•
°teams' and took to, the field: The'.
game 'hadall the colour: of the
big leagues arguing. ;..with. 'Roy
the umpire, changing pitchers.
all the rest. -
To'round :'Out ` the meeting, the
trays for Mother's :Day were fin-
ished. .•
pany :was :rade 'on. .behalf ' of.Mr.
Barford'.::and Mr. Stevens. ' It was
also .reported 'millionaire E P:
.Taylor had attempted, to' buy con
troll
The company,, which has plants
Fergus; • Penetanguishene,
Wopdstock, Lucknow and Man.
chester,, England, • was started ;in •
Fe'r.gus by the'ABeat'ty ' Brothers, ..
•george and Matthew, of Caledon
•in 1374.,
I,t started . manufacturing.' farm
equipment . and in 1922. .moved
into its main :field ' today of 'elec.;:
trio: washers..` Between 1919 and' •.
1946, .the rapid'lyrexpanding, col
pang bought out 11 other firms
in Canada ard England:
During : Second WOrld,•War•
it.;,had 900 employees :'on three
shifts :manufacturing shell• fuses
,and casings, submarine detector
'equipment and naval; rocket• faun,=, •: •
chess.
'
Staff of' 750 '
Now it , employs' ' about 450.: in,
'the plant in Fergus and another
300 in the office arid on .the sales'
staff.
The firm has warehouses in
six : major , Canadian centres
stretching from ' St, ` John, NB„
to New , Westminster, ` B.C.
At one time the firm` controlled
'a chain 'of Beatty' washer stores:
across- Canada: But during the
war when it couldn't supply the
washers; the firm sold, the stores
to their lessees.
In .past years • in .Fergus, the,`
firm has 'taken a major .Part in.
community affairs and projects.
It built .the town's. swimming
pool and .still owns •it,' cont1 but-
eci' heavily to the hospitals the
arena • az Melville United Church.
On , the Toronto', Stock
change last Wednesday its; shares
were selling around $14.50 a
share compared with a high for
the 'year of .$15.25 and a low of
$6.50 .
Commenting `tli ,the transaction
MARVELUBE
:.. • ESSOLUBE HD*
1111INERAL}JBE
• MOBILOIL
• ESSO.
M•.P. ' GREA 'sE
and other high qua}itylubricants
for all requirements
CKNO
LOOic TO IMPERIAL FOR TI -i ' BEs r
dLWd�I.S `