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c1922 Five well-known cutlery firms ; Thomas Turner and Co, Needham, Veall and Tyzack, Lockwood Brothers, Joseph Elliot and Sons and Southern and Richardson Ltd. - amalgamated to form a company named the Sheffield Cutlery Manufacturers.
1925 Since the formation of the company the trade passed through very bad times, and in 1924 the court sanctioned a reduction of the ordinary capital. The report for the year 1924, which is stated that the trade depression continued during that period, and the trading of the associated companies was further seriously affected by a dispute in the industry. The result of the year's operations shows an adverse balance of £485 15s. 8d., and the directors were still unable to recommend a dividend on the preference shares. The report added that after a lifetime spent in the cutlery industry. Mr. Joseph Greaves Elliot decided to relinquish the chairmanship of the company and to retire from the board, though he had placed his services at the disposal of the board in an advisory capacity. Sir Walter R. Preston and Mr. A. W. Rippon became directors, and the former agreed to accept the office of chairman.