"Then let me ask a few questions," continued Gorham. "Mr. Litchfield has told us of the reduced cost of production in his plants as a result of our consolidation. Will he not further state how great that economy is?"
"Thirty-three and one-third per cent.," was the prompt reply.
"And we have reduced the rate how much?"
"Fifteen per cent."
"How much has the business increased during the past year?"
"About twenty per cent."
"And the balance-sheet shows what as to profits?"
"About twenty-five per cent. larger than any previous year."
"In spite of the reduced rates," Gorham added, significantly.
"But they would have been larger still if the old rates had prevailed,"
Litchfield insisted.