Apmil 4'; 196.1 http://legacy.library.ucsf.edu/tid/rlq00e00/pdf

+t2urgas for tvbseco 1laS, labor and, otber expenses inherent iri
mnufatttur!1 *
.
but our Leat Dopsstmsat is i!a'ero the most dramatio
Impttinrsments ase btr3ng arad* . Our Leximgton~, J~.aatv4fty tobaaos
yroosssing plrnt has b..n nadern#x.d. aittr n.r squiywaat .and a
gonera1 *faOiNllttlag* Oporat3.m .. 0ur ' ioT ,taoi:lity at Danvi)l]:i, .
rizgia3a shox)A be somplat .ly op+rrat3 .osaal, by vddaraar. A]r.ady
Mrra are over $3 . :illion ~t of Larfllardfs tebaec!os aging
in 'Us nwr .tsEades losatird tbrrxo . About $8 prr a.ut of ' the
pLMnt ls poraes sslxg nq%S,pssnti hx s barn iosta3?ued, and uksn Dtn-
T ;li* Ss enupU*od xlth its apasi~~l~r«t.aS~+Nd ,raob#n.ry, adaptad
to sww, sw. .ff1o3,ent, PRoftatiAd -sahWklss,, itt' ianxpoot .d to
ssss ur, sabstantial yrsorarsiAg and storaga o .ats sad' plieoo us
in a•trongar, anr+a somptit3,vs posi'tion within vuar Lnftslkrry .
Anotber pos sib].i avsmNr t or Ti.ort, ilard 1sftt,xrs
growth 1a 0 at a aArs., Oroap,la di..rsiti4at isea . Your Annual
Rapoart apSlls +out !1m detail the aspmsloa an& dixu*sitioatiaa
within our .ho11r-omod "ssAsarY, the F.d.ral Tin Oompana .
This, howrnrnr, is ku-dly tbo 1l.mit at our d!ix.rsitisatiow aim,,
aRld in ' tka last' tAt wAtjlii0 alme fOm'' m73agaMnt bag devoted
extensive lFinr t0 3bvOstigatin ;g a awmber' at possible nta araas GD
GJ
taf divlrsifisatiam, mainly tbrOugh asquisitisn. ~ ~W
http://legacy.library.ucsf.edu/tid/rlq00e00/pdf
21
~ .