Let the repaired piece cool down completely and then soak it in water to remove the gummed strips. There will be some spots of adhesive along the join squeezed out when the jour was made and deliberately not wiped away. Rub the spots very carefully with glass paper and break them down before removing them with a scalpel or a razor blade. This cleaning is quite a delicate operation and if done without abrasion may result in lifting little chips of china or
glaze.
If the crack was also c’., Red and Aralditc with colouring was used, tidy the filled chips with fine glass paper, and over-paint or glaze if necessary.
Moulding aped Modelling whole pieces of a pot or a
figure are missing, the gap can be filled by rebuilding the piece with epoxy resin composition filler. But it isn’t quite so simple as that! Perfectly satisfactory pieces for plates, vases, bowls, statuettes etc. can be moulded or modelled and simply stuck into place provided the piece is not going into domestic use, but such mends are not strong
g enough
to withstand hard wear for very long unless they are sup- ported by metal cores or pins. It is easy to mould or model a jug handle without a core, but unlikely that it will last very long if the jug is used. If the new handle has a core it will be very strong indeed. The making of cores and pins is described in a later section, and here I shall talk about moulding and modelling without supports. The techniques involved are almost identical when supports are incorporated. The job requires only a few cheap tools until the moment when you get involved in metal work and drilling for supports. And many people, once they reach this stage, just take the work to an expert restorer rather than buy drills and bits etc.
Before mending a piece such as a bowl or plate or vase, without using a core, scratch or file the broken edges so that the new piece of moulding will lock into the edge as it sets. The danger is that your new pieces may not adhere too well to the smooth and thin edge of a break without some kind of roughness in which to get a grip, as the problems of adhesion are not quite the same as those of sticking two edges, of porcelain or pottery together.
Next, a backing is necessary. This means a surface up against which you can press the filler to remake the piece. If the object is a flat plate, with : flat surface, the same gummed strip as is used for binding can just be stuck on the outside surface of the piece completely covering the broken area. As it dries it stretches tight and makes a good smooth surface up against which to press the filler. This gummed paper cannot be used on a curved surface because it pulls taut and flat across the curve as it dries. Therefore the mould will
wihave to be made with a flexible material which will take a curve. Plasticine does the job well, but it never sets hard and can be pushed out of shape rather easily. Wedge plasticine before use—this is a potter’s term meaning quite simply banging it until it has no air bubbles in it. A mallet or a wooden rolling pin make good bashers for plasticine.
If you use plasticine for the mould and Araldite for the filler you will have to get some cellulose acetate to use as a parting agent as the two react upon each other and must be separated by coating the surface of the plasticine which will come into contact with die filler.
There are other moulding materials. The dental impression compound Paribar is more expensive, but is quite excellent for the work, and is worth the extra money for it can be used again and again, needs no parting agent, and has other uses. Paribar is softened in hot water before use and resets fairly hard but is flexible enough to be extricated from quite deeply cut castings.
Making Moulds. Imagine that you have to replace a curved piece with a fluted surface, from the edge of a bowl. The whole of the edge of the bowl is fluted in the same way so you take an impression of a matching piece of the pattern oil a sound section of the edge. ‘Wet the surface of the bowl and press a slab of plasticine (about half an inch thick) on to a section just a little larger than the missing piece. Carry the plasticine up over the rim of the bowl so that it will be marked but don’t bend it too far round the rim if there is any ridge or it may be difficult to remove the plasticine without bending it. Press the plasticine well and truly until you are satisfied that you have made a perfect impression. Lift it carefully off and place it over the hole on the outside of the bowl in exactly the right place so that the pattern is continuous. Press it lightly so that the broken edges of the china mark the plasticine, then remove the plasticise, and paint the area inside the edge marks with cellulose acetate parting agent, then replace it over the hole. It will stick to the dry china round the edges of the break. Bend over the top sections of plasticine away from the hole, round the rim of the bowl to keep die mould in place. A few strips of Sellotape across it and on to the china will help. Don’t use gummed strip, for this will dry out and flatten the mould. The Scllotapc may give slightly but will help to avoid the disaster of the mould coming off the pot in the middle of die filling operation which follows.
Paribar can be used in exactly the same way to make a mould especially where there is a deeply indented pattern in the china. The Paribar goes hard, but it can be softened with swabs of boiling water and removed from die filler section without breaking it when the job is done. No parting agent is needed so that the Paribar can be put directly on to the break and left there.
Filler Composition and Filling. Now to mix up sonic filler (see Fillers and Cements). Araldite two-tube epoxy resin is first mixed together and then titanium dioxide (or other whitener) is added until the mixture has a nice doughy consistency. This mixture is a bit sticky and clings to tools and fingers. Keep a little dish of the powder handy, and another dish of Methylated spirits. Dip your fingers in the powder, and the tools in the Meths from time to time, and you won’t get so stuck up. When dried out this filler looks exactly like biscuit, or unglazed baked china and takes overpainting very well. It also sticks directly to the edges of the break and you should have no trouble in making a perfect join. It isn’t the easiest of jobs to make and handle this filler, but the result is so good that it is worth practicing to get the mixture of the right colour and consistency.
Kaolin mixed with Araldite in the same way makes a very stiff, not quite so sticky, more translucent and buff coloured filler, but it has the disadvantage of not sticking quite so well to the edges of broken china as does the first mixture.
Isopon polyester resin filler is a paste which is mixed with a hardener. It is excellent for filling big holes as it dries quickly, but this means also that you must be able to work quickly. When using Isopon make all inside mould of the break as well, and having filled the mould, put the second inside mould oil to the filler from the inside to get a smooth interior surface, pressing it down well. Isopon requires no parting agents. Although it will stick to itself so that it call be built up in layers, it will not stick to china, so when the moulds arc removed, the new Isopon piece will come away and will have to be stuck in just like an ordinary broken piece. It can be rubbed and filed to finish it off It cannot be used as an adhesive.
Bondapaste is another excellent filler which hardens quickly and does not have to be baked, nor does it require powder additions to make it opaque. It does not dry white, but this is immaterial if you are going to overpaint it any-way. It can be used as an adhesive or cement and when used as a filler it stays in place without further adhesives. It can be filed, carved and abraded within a quarter of an hour of use, so is a very time-saving material, once one is experienced enough to shape it quickly.
The exact consistency of any filler is difficult to describe and can only be discovered by trial and error. If it is too hard it will push the plasticise out of place as you press it into the mould. If it is too runny it will tend to run into the lower part of the mould in whichever place you are holding it, and will not make a piece of even thickness. If the mould is made of Paribar then a stiffer nix of filler can be used.
The mixture is worked into the aperture with a round ended tool. Boxwood potter’s modelling tools are excellent but many things make good modelling tools. Some workers like to prop the pot up as they work, others hold the pot in one hand so that the break with its mould is cupped and held in position while the filler is worked in. Great care must be taken to make sure that the filler goes into all the corners and crevices right up to the edges, with no air bubbles trapped underneath. Smooth the inside surface with the tool and with thumbs and fingers until it is as like the surrounding inside surface as your eye can judge. Setthe pot aside for an hour, if the filler is Araldite, by which time it will have set to a rubbery consistency and can be worked further if necessary. If a quicker setting filler has been used, once it has set hard it can be carved, filed and abraded until it is absolutely perfect, and it is then ready for overpainting.
To speed up the setting of a mend done with Araldite, bake the pot for half an hour at zoo deg. F. If there are any small cracks or pits in the surface fill them with a thin mixture of filler, using a water-colour brush.
Chips. The mending of chips, big and small, which do not go right through a piece, involves work which is halfway between the filling of apertures as described above, and modelling
which is described in the next section.
Quite simply, you make up a mixture of any of the above mentioned fillers into a fairly stiff mixture and press it into the previously cleaned and dried area of the chip and smooth it until it looks right. Don’t get air bubbles under the filling. Wheel chips—large chips on the edge of a piece—should first have a thin layer of adhesive, to help bind the filler in place. The art of filling chips is to get a good blend along the edges and to get the filling neither too proud nor too shallow, and in getting the composition in so that no air bubbles remain behind to raise it in due course. If you suspect that a little air is trapped, prick the filler with a pin and press it down again and fill tip the pin hole.
Allow the filler to dry out over a hot radiator and then, when it is hard, rub it down with glass paper until you are satisfied that the chip, after overpainting, will be indistinguishable. Pick up the piece and squint at it at eye level in all possible planes, and rely on the sensitive tips of your fingers run across the mend to detect any irregularities. If even at this late stage the chip is not properly filled, more composition can be added for it will stick to itself, and the process repeated until you are satisfied.
Modelling. When neither straightforward sticking, nor press moulding can be used to mend an object, try modelling. It is impossible to make a mould for a missing piece which is not a repetition of another part of the object, as described previously. The missing piece just has to be built up from scratch and the result depends on the artistic ability of the restorer. Large modelled sections will have to have metal supports—dowels, or pins, or strips—and the techniques will be described later on. I am still concerned with the techniques which do not include drilling.
When a part of a plate, or a vase, or perhaps a lid knob must be remodelled, take a piece of rather doughy filler composition and roll it either flat for a flat section, or into a ball for a knob, or into a sausage for a handle, in an approximate size and shape for the job. Then press it firmly to the edge of the broken part, and model it with Boxwood tools, fingers and any suitable home made tools that you may fancy. Whenever epoxy resin mixtures are being used, dip the tools in methylated spirit to avoid sticking.
Modelling becomes really interesting when a porcelain object such as a figure or perhaps a vase festooned with flowers and leaves has pieces chipped out or broken off and lost. To remake flowers and leaves is not at all difficult. Any woman who has ever made an apple pie with a decorated crust knows the technique. The pastry, in this case filler composition in a nice doughy mixture, is rolled out to the thickness of the petal or leaf required and then pieces are cut out of it in the flat. A small sharp knife or scalpel can be used as a cutter, shapes having been first marked out with a darning needle or a fine graver. Or, if the leaf or petal pattern is to be repetitive, a cutter can be made out of strip brass or copper foil, beret to make the appropriate shapes. Make a template or pattern out of plywood, using a fretsaw (see Fig. 8). Tack this pattern to your work bench with a central nail and then hammer a copper foil strip round it with a small hammer until it is exactly the same shape. If the template is pinned with a central nail it can be pivoted round as the cutter is being made so that all pieces can be reached.
The cutting of different species of flowers, daisies, roses, apple blossom etc. is hard to describe exactly. It is a matter of careful observation of thepetals which are to be matched, and of measurements with calipers and dividers, if your eye is not good enough. Petals are cut out in flat shapes and bent over slightly at the edges, and rolled into concave shapes etc. Once your petals and leaves arc made they are then fixed to each other and to the main piece, and there is no great difficulty about this unless the anchorage point is very small indeed, especially if you arc using a good adhesive filler composition such as Araldite and titanium dioxide. it is often possible to add an extra leaf, or to put in
small
a smasupport of composition disguised in some way as part of the decoration, which will hold the modelled part in place. Most people have a collection of tools for modelling which they have made specially to get into different corners ; sewing needles, bent knitting needles, scalpels, spatulas, rifflers, spikes and blades of all kinds, even old hacksaw blades, conic in usefid.
When pieces of an object are missing for which no pressed mould can be made, it is still possible to make a mould out of plasticise which approximates pretty closely the missing piece, and to put this on to the whole in such a way that the aperture can be filled with composition in exactly the same way as a pressed mould is filled. Then the new piece must be rubbed and shaped to final perfection after the setting or baking process has been completed; but
this can be a slow job.
There are problems when it comes to modelling difficult things like faces; it rather depends upon how clever you are, but there is yet one more way, which involves modelling. It is a much more complex and tricky job, but it can save such a lot of time and trouble in the long run, -aid once again may enable you to get away with it without resorting to pinning and dowelling.
Make a model, in plasticine, of the missing part. Actually this is easy if you have a talent for modelling, terribly difficult if you haven’t. Say for instance that half a leg and a foot are missing from a figurine. Using calipers and dividers, measure the other leg and foot exactly, so that at any rate lie won’t have a size six left boot and a size ten right boot. Then model a plasticine leg to the right diniensions and in the kind of position in which it looks as if it ought to be, and keep trying your model in the space until it satisfies you. Plasticine doesn’t harden so take as long as you like over making the model.
Having made your plasticine model, a mould must be made from it and a cast or pressing taken from the mould. The finished cast can simply be stuck into position (or dowelled or pinned if necessary).
Take a sheet of glass, and a large lump of plasticise. Roll the plasticise out into a very thick strip and lay it on edge on the glass (see Fig. 9) in a square or a circle plenty big enough to hold the model, horizontally. Then fix the model, horizontally, halfway up one side of the container that you have just made. A peg carefully inserted into the end of the model and pushed out through the container side should hold it into position. Then prepare some plaster of Paris. Into another container which can be handled easily and has a pouring lip, put enough water to half fill the mould container, and sift plaster of Paris powder into it until the mixture is the consistency of thick cream, stirring with the hand to break up lumps. Then pour the plaster of Paris mixture into the mould until it is halfway up the model. Leave the whole thing to set. Then cut two wide grooves or shallow holes out of the plaster.
sure that it is really well drenched and that no tiny part has escaped swabbing. This acts as a parting agent between the two halves of the plaster mould. Make another mix of plaster as before and pour this nito the mould until the model is well covered. When this has set, remove the plasticine case and case the two sections of the casting apart. Take out the original plasticine model and you should have a perfect mould in two halves. This mould will have two locking pieces where you cut the grooves or shallow holes so that when the two halves are put together again they will locate exactly, and at the end where the model was attached to the side wall of the plasticine container, there will be a hole.
Now you have a mould which can be used to make a casting or pressing of your original model. Smear a film of silicone grease all over the pattern sections of the mould to prevent the filler sticking to the plaster of Paris, and then make up enough filler composition to fill the two halves of the mould. This filler should be soft enough to flow freely into the mould sections. When the two sections are filled, bring them together and bind them tightly with wire. Ram the composition well home, through the hole. Leave the mould, with the hole at the top, for two hours to set, and then, if you are using epoxy resin, bake it for half an hour at 2oo deg F.
Undo the wire binding and take off the plaster. If you have not used a parting agent, the plaster can be cut out and broken away and the last of it scrubbed off the model. Stick or dowel the finished model to the whole, having
made sure that the edges fit perfectly by filing and abrading. bradin,
Any discrepancy in fit which is too big to be put right by filing, can be filled with some filler composition.
Moulds can also be made from pieces of porcelain similar to the piece you are trying to replace, and then pressings made from these can be carved, filed, abraded, and built up to fit exactly.
Instead of plaster of Paris, rubberised solution such as Qualitex can be poured around your model. The advantage of using this material is that the mould is flexible and will come off difficult undercut models without damaging them. Rubberised solutions, therefore, are best for making moulds from models which must not be damaged in any way. The technique is much the same as that described above. A plasticine container is built up round half the part to be copied, and the solution is poured in.
The process is repeated on the other half and you then have the complete mould in two sections. Details vary with each job.
Faces on statuettes are very alike, and differ only iun detail of hair and headdress. There is no reason why, if you collect figures, you should not make a series of moulds or masks from any statuettes that come your way, and so build up a stock of faces iii reserve for the day when they may be needed.
Incidentally, the principles of making casts, moulds, pressings etc. are generally similar for work in all kinds of materials, and many restorers of objects other than china, such as old guns and pistols, make their own metal castings. It is a skill which has so many applications, not only for restoration but for creation. Modem materials make exciting castings and pressings, and it is an art well worth studying for its own sake.
In 1852 John Bentley took out a patent fora revolver which had a spring safety catch on the hammer to hold if clear of the cap imperial kutani peacocks. Iij the following year he gilded console table.transferred the patent rights to Philip Webley of Birmingham antique silver trays from denmark. On the 29th March 1853, a little over 10o years history of woods ware. ago, Webley patented his first revolver silver entray dishes. A number of different versions of this pilot model were produced in its first year furniture. They varied in such matters as the method of attaching turn tripod into table. the barrel -to the frame, 17th century clocks. and type of bullet-yammer porcelain figures of famous people. These various types were experimental, and by the end of the year four different patterns were decided on for production classic furniture ornaments technical drawing. They were all percussion muzzle-loaders with five-shot cylinders, but three had single-action and one double-action copies of antique furniture. Of the single-action revolvers, one was a pocket weapon with a 4-inch barrel of -420 calibre and a hinged frame art deco palissy dinnerware. The other two were long-barrelled heavy-calibred revolvers with a rifling of three grooves antique cylinder roll top desk china cupboad. One of these had a particularly long spur, or cocking piece, on the hammer, and was known as the ‘Longspur’ 1930 curved arms chair. It became very popular owing to the speed at which it could be fired chicken coop shelving. The double-action revolver was very similar to the Longspur, but not so well finished and without any spur to the hammer deco legs. Bentley’s safety catch was fitted to a number of these first Webley revolvers vintage three leg table base.
The next Webley model came out in 1857 18th century writing table cabriole ball claw feet. This was the Wedge-Frame double-action revolver, which was very popular and of which large numbers were made antique trends. It was followed two years later by an improved double-action revolver with a solid frame cooking utensils in the 17th century. Many of these various types of Webley muzzle-loading revolvers were bought by the Confederacy and used in the American Civil War silver tray with food.
By the time of the great conflicts of the Crimean war and the Indian Mutiny, revolvers were well established in the British Army; particularly as officers’ weapons maiolica cantagalli savona 1600. Many, or most, of these latter were privately bought, and comprised Adams, Colts, Bentleys, Webleys, Kerrs, Tranters, DeaneHardings and Daws (the last being made by the firm of Witton and Daw) guilloche. It is probable that the great majority were Adams antique stanford refectory table with end leafs.
In 1864 John Adams separated from his brother and the London historical development of art deco.Armoury Company; and set up his own establishment, the Adams Patent Small Arms Company, at 391 The Strand, London antique paw dresser and mirror. All the revolvers described so far were muzzle-loaders art deco sofa 1925. That is to say, powder and ball were inserted from the front of the chambers 1820 gateleg table maple. From the early i86o’s there was a gradual change to breech-loading silver plated furniture. The first breech-loaders were made in the United States; and they might have been made very much earlier, but for the all-embracing revolving cylinder patent of Samuel Colt 19th century daybed. This ran out in 1857, and almost immediately Rollin White patented a cylinder with the chambers bored right through for breech-loading spanish sideboard. This patent was made over to Smith and Wesson, with the result that the latter firm, which had already been manufacturing them secretly, was able to put breech-loading revolvers on the market as soon as the Colt patent expired antique silver terrine. The Rollin White patent was valid until 1869, but before that date there were Numerous attempts, to circumvent; or blatantly ignore, the patent hankerchief table mahogany.
Whilst Great Britain was not; of course, bound by the Rollin White patent, it probably indirectly delayed the appearance of breech-loaders on the British market english knife box. It is difficult to say which was the first British breech-loading revolver, but William Tranter had one model in production italian cabinet antique. by, perhaps, 1863 baccarat amberina gold 1840. This was the ‘44 calibre so-called ‘Police’ revolver, which was purchased in small numbers for the Army and other Government services antique bookcase with trough. It used the rim-fire cartridge, which was already popular in the United States common carpentry joints on tudor houses. The base of the cartridge was of greater diameter than the body, forming a rim or flange http: newmedicalinfo.com. Inside the flange was the detonating mixture, and it was this portion of the case which was hit by the striker oriental writing bureau cabinet. This Tranter revolver appears to have been the only rim-fire weapon ever issued to the British Army figurines from the pastorals of porcelain. The chief disadvan-
age of the cartridge was that it could be exploded accidentally through being knocked or dropped 1940’s english sideboard. The Police revolver was double-action and had a six-chamber cylinder 12 apostle teaspoons. A few years later Tranter produced his ‘Army’ revolver, which was also purchased in limited quantities by the Government french animal chairs. Like the Police revolver, it was double-action and had a six-chamber cylinder, but the bore had the slightly larger calibre of ‘45 inch, and it used a central-fire cartridge secretaire de roentgen. This had a cap chamber fitted into the centre of the thickened base of the cartridge, and was much safer than the rim-fire italian “lacquered furniture”. All succeeding Service arms had centre-fire cartridges swedish furniture 1930.
In about 1865′Webley produced his last muzzle-loading revolver antique carved gateleg end table. It was a rim-fire weapon with a tip-up break action 1700s brass tea caddy. In probably the same year the first Webley breech-loader appeared fiddleback walnut. This was a single-action rim-fire revolver, with a six-chambered cylinder, a solid frame and a calibre Of ‘45 inch history woods ware wincanton. All succeeding Webleys took centre-fire cartridges french dining draw leaf table stretcher. The first of these was a very short-barrelled weapon with a -calibre Of ‘577 (the same as that of the contemporary Snider-Enfield rifle) best english antique brass beds. It used the new art deco lamp globe. Boxer centre-fire cartridge, of which a description is given in Chapter XVI antique imari porcelain. There were two models: one had a solid frame, and the other had a top fastening and broke open antique kneehole dresser. It was popular on account of its great stopping power antique sideboard 1825.
In the meantime, John Adams, from his new plant in The Strand, had turned out in 1866 the last muzzle-loading revolver to be used by the Fighting Services verlys smoke glass. It was double-action and had a calibre Of king george 1v furniture. ‘45 inch lyre base, sofa table. As compared with his brother’s revolvers, John had succeeded in fitting a six-chamber cylinder painted furniture harlequin diamond. antique vase markings. It appears that it was originally intended to make a breech-loading weapon, and the cylinder was slightly shorter than that normally fitted for muzzle-loading antique furniture ornaments. Only a few were made, and it may be that there was an unexpected Service requirement for a small number of muzzleloaders painter dufy. In any case, whatever demand there was was only short-lived, and in 1868 some of these arms were converted to breech-loaders art nouveau court cabinet. Conversion of the Enfield rifles to breech-loading had started in the previous year, and it was no doubt intended to do the same with the revolvers antique ceramic indian elephant end table. In addition td the conversions, John Adams produced in the same year a number of new breech-loaders which were practically indistinguishable from the conversions pedestals and urns chippendale. Another and larger batch Of 18′72 was similar except for an improved ejector rod 17th century silver soup tureens.
In about 1880 a revolver for military use was designed and produced at the Enfield Small Arms Factory antique shop slovakia. Its particular feature was its mechanism for the extraction of the, empty cartridge case after firing theodore haviland 1958 pattern. ‘Self-extraction’ or, alternatively, `self-ejection’ were facilities for which there was an increasing military demand antique ceramic tambour german mantle clocks. Mr lowenfink. R gillow & waring vitrine glass. Scurfield calls it a ’slightly eccentric weapon’, and adds, ‘It was not a good choice, and I suspect owed its adoption to the fact that its designer, one Owen Jones, was a member of brass mote spoon., the Enfield Small Arms Factory staff, in spite of being of American origin; in fact, the drawings to his patent specifications show the invention applied to single-action pistols of American type’ ornate antique silver roast serving platter.
Mr european cabinet maker tool chest. Scurfield, in his article which has been previously quoted, puts this whole matter of extraction and ejection very clearly antique porcelain and china clocks. He says:
`There were by 1880 a number of quite reasonably efficient and more or less reliable self-extractors and self-ejectors; in the former the empty cases are withdrawn* from the chamber by a fixed extractor, usually by sliding the cylinder forward,
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and then have to be shaken clear, while in the latter the frame is hinged, and when opened or “broken” an extractor is forced out of the cylinder, throwing the cases clear of the pistol 1920’s antique mahogany tables. The self-extractors have to be loaded through a gate, after the cylinder has been restored to its normal position, like a solid frame arm; the self-ejectors are loaded before the frame is closed czechoslovakia porcelain. Of the two systems the ejector is by far the better, given proper design and proper workmanship-, and the extractors all old fashioned table brass metal claw feet on casters.became obsolete, except for the egregious Enfield, long before 18 go, when that arm also passed into oblivion revolving bookcase.
`The self-extractors were the Galand and Somerville antique desk art moderne.(AngloBelgian, 1868), the Thomas (1869), and the Merwin-Hulbert (American, 1878); there were others (I have a nameless sliding-cylinder extractor,’ beautifully made by Webley), all of which seem to derive from the Galand-Somerville (which was about the best of them, and was itself preceded by a whole array of more or less similar self-extractors, nameless, patentless, and made in Belgium, which used pin-fire cartridges and extracted the cases by the pins); the Galand seems to have lasted longest, and was for a time used officially by the Russian army talavera lustre. It will not stand powerful cordite cartridges, but at least none that I have seen have ever rattled like the Thomas victorian candlesticks.
`The self-ejectors were the Smith and Wesson (American, 1869), the Pryse (1876), and the Tranter (1879)—it was Tranter’s second or third shot at a “break-down” self-ejector german art deco porcelain harlequin. There were a few others, but none to be compared with these, all of which had quite a long life—the Smith and Wesson, somewhat modified, until a decade or so ago if not to the present day hyalith czech glass. Pryse’s revolver was a great favourite with army officers, and has the distinction of being the first pistol to have a rebounding lock (i oak pembroke tables.e serpentine top breakfast table., one in which the hammer, after striking the cap, rises far enough to be withdrawn from contact with it) telescopic table furniture. It was made by Webley antique urn spoons. regency secretare. solid mahogany gateleg table imperial. rosewood and satinwood ladies pedestal desk. and indeed is sometimes called the “Chinese Webley”, from the circumstances that london porcelain manufacturers. the Chinese Government bought quite a large number oriental tea tables cherrywood portable furnitur. I imagine that the popularity of this pistol started Webleys, then emerging from the doldrums, thanks to the success of their ” R innovative styles of the 20th century did not include:. I rockingham china 1848.C european cabinetry of art. ” (Royal Irish Constabulary) revolver, on the quest for a really first-class “break-down” self-ejector —which of course, they eventually procured antique lyre table. “antique silver indian furniture”. expensive blue glass bowls. 1930 art deco french armchairs.`The fault of the self-extractors is that after a fair amount of use the fastening of the frame, which is divided to allow the cylinder to slide forward on the axis-pin, becomes worn —whereupon the arm “rattles” and the chambers no longer align properly with the barrel; the fault of the self-ejectors is usually in the fastening of the top strap to standing-breech, which may be susceptible to blowing open, either because it is not properly closed or because it is not strong enough 19th century chinese furniture. The early Smith and Wessons put themselves out of court with the War Office on this account (and I think rightly, for at the time the fastening was not too reliable), and their shortcomings were promptly attiibuted to all “break-down” revolvers antiques lamps made by universal statuary co.. Tranter’s last self-ejector has a better fastening, secured by a long thumb lever operating a hook over the end of the top strap (the parent of the Webley stirrup fastening), but it came under the condemnation passed upon all “break-down” pistols-, besides it was too Lsite, for by 18′79 the Enfield must have been approved, if not actually adopted what is a chamber pot of 1800s. The existing self-extractors were all clearly unsuitable as arms for military purposes, and the self-ejectors were condemned as dangerous on account of the top-strap fastening-, so, with unerring instinct, Owen Jones designed, and the War Office adopted, an arm cunningly combining the disadvantages of both italian neo-classical commode.’
Although, on the whole, a bad revolver, the Enfield became the official pattern for both the antique pine draw leaf table 1920. Army and the Navy, and Mr sideboards. Scurfield thinks that it was the first revolver to be• a general issue to the rank and file of the cavalry 19the century russian furnitrue. There were two patterns: Mark I of i88o had a calibre of ‘422 inch, and Mark II of 1882 one of ‘476 paris exposition candlesticks. The larger calibre was introduced as the ‘422 bullet had insufficient weight to stop a charging man at short range indian interior low seating drawing room. This deficiency was so evident against the Afghan tribesmen that most officers armed themselves with more effective private arms antique mahogany drop leaf work table. The -476 Enfield, however, had a much heavier bullet and was satisfactory in this respect dumbwaiter end tables. The Enfield frame was hinged in front of the trigger guard and opened like the normal ejector type; but instead of ejecting, the cylinder slid forward leaving the cartxidge ‘cases behind, suspended on the extractor paris antique holophane. This was in the form of a star which fitted into the cylinder but did not slide forward antique wurttemberg clocks.
The most famous of • all British Army revolvers is the Webley antique brass chamber candlestick. Further, it has the distinction of being the oldest pattern of military firearm still in production in Great Britain, and probably in the world louis 16th reproduction dining set. Since the Ordnance Board accepted Webley’s Mark I in 1887 (made five years previously) and the present -day there have been only comparatively minor modifications antique italian extendable table. This is a period of some seventy years yabu fruit. Even Brown Bess might require the acceptance of the India Pattern musket as a modification to beat it mallard furniture. The Webley record is the more remarkable, however, as it covers a period during which there has been more scientific and mechanical advance than during the whole of the previous history of the world hyalith glass.
One may perhaps take, as the earliest origin of the firm which made the Webley revolver history of american sideboards., a business which was established by one William Davis in 1790: Davis set up an establishment in Weaman Street, Birmingham, for the manufacture of bullet moulds, gunmakers’ tools and other firearm accessories cream leather chairs with walnut legs. The site of these old premises is occupied by the present Webley factory 19century british armschairs.
Some time early in the nineteenth century James Webley opened a business also in Weaman Street, which was somewhat peculiarly described as ‘Percussioners, Gun Lock &c antique french brass figurative parlor clock. makers’ malard furniture. In 1827 James’s young brother, Philip, then fourteen years old, was apprenticed to a gun-lock filer oak buffet with turned bun feet. In an excellent little brochure, Webley 1790-7953, published by Messrs neoclassical antique table. Webley & Scott Ltd chest of drawers with lots of compartments., and compiled by Messrs czechoslovakian antique porcelain.
C plain sofa table. W silver terrine. Thurlow Craig and Eric G early 19th century french bureau. Bewley, F lambeth ingredients.C scandanavian antique dessert stand.I 19th century english cabinet makers.S goldscheider mark vienna old., the indenture of apprenticeship is reproduced italian wood armchairs. It sheds an interesting light on the working conditions and customs of the time, and is therefore given here in full deco style desks.
`This Indenture Witnesseth that opalescence glass teapot steuben. renaissance tin-glazed.
`PHILIP WESLEY as well bf his own accord as with the advice and consent of his Father, Thomas Webley of Birmingham in the county of Warwick, White Button Turner doth put himself apprentice to Benjamin Watson the younger of Birmingham -aforesaid, Gun Lock filer, to learn his Art, and with spanish cabinets.him (after the manner of an Apprentice) to serve from the day of the date hereof, unto the full end and Term of seven years, from thence next following, to be fully complete, and ended antique “la granja” glass. During which Term the said Apprentice his Master faithfully shall serve, his secrets keep, his lawful commands everywhere gladly do: he shall do no damage to his said Master nor see it done by others: but to the best of his Power, ,shall - let or forthwith give Notice to his said Master of the same: he shall not waste ‘the goods of his said Master nor lend unlawfully to any: he shall neither buy nor sell without his said Master’s Licence : he shall not play at Cards, Dice, Tables nor any unlawful game: he shall not haunt Taverns, or Alehouses, nor absent himself from his said Master’s service Day or Night unlawfully: but in all things as a faithful Apprentice, he shall behave himself towards his said Master and all this during the said Term austria furniture antique.
`AND the said Benjamin Watson the younger in considera•t1on of the faithful services to be performed under this Indenture doth hereby covenant and agree with the said Thomas Webley that he the said Benjamin Watson the younger shall and will teach and instruct or cause to be taught and instructed his said apprentice in the art aforesaid in~ the best way that he can antique french or chippendale coffee table. And also shall and will in lieu of maintenance wearing apparel washing lodging and other necessaries pay unto the said Thomas Webley or to the said apprentice the following wages, that is to say, from henceforth during the first year of the same term the weekly sum of five shillings and from thenceforth to raise one shilling, yearly during the remainder of the said term the same payments to be made on the Saturday in every week and for the considerations last mentioned the said Thomas Webley doth by covenant and agree to provide the said apprentice with all necessaries during the said term portuguese antique library table. And it is hereby covenanted and agreed between the said parties hereto that in case the said apprentice shall at any time•during the said term and the usual working hours thereof, that is to say from six o’clock in the morning till seven o’clock in the evening in the summer and from seven o’clock in the morning till eight o’clock in the evening in the winter absent-himself from or neglect the work and service aforesaid whether occasioned through sickness or any other cause whatsoever (except with the consent of the said Benjamin Watson the younger) then in such case it shall be lawful for the said Benjamin Watson the younger to deduct from the said wages all or so much thereof as shall be in proportion to the time of such absence from or neglect of service mohn beaker with transparent enamel scene. But it ‘is hereby expressly agreed that the power of Deduction shall not extend to prevent hinder or debar the said Benjamin Watson the younger from obtaining any other satisfaction or remedy he will be entitled to before any Justice of the Peace or otherwise on account of such absence from or neglect of service in case such deduction was not made or herein provided for nor shall the same be pleaded in bar thereto silver george foot mask.
`AND for the true performance of all and every the Covenants and Agreements each of the said Parties bindeth himself unto the other of them firmly by these presents antique art deco furniture black lacquer. In WITNESS whereof, the Parties abovenamed to this Indenture have set their Hands, and Seals, the twenty-sixth Day of June in the eighth Year of the Reign of our Sovereign Lord George the fourth by the Grace of God of the United Kingdom of Great Britain and Ireland, King, Defender of the Faith, and in the Year of our Lord, One antique michael thonet no 56. Thousand Eight Hundred and twenty seven what make the bloemenwerf chair more expensive.
The development of the rifle between the issue of the Baker t6 Rifle regiments, and the equipment of the whole of the infantry with the Enfield, is an interesting story myott & sons chamber pot ironstone china. It will be remembered that Ezekiel Baker’s design incorporating a rifling with only a slight twist, together with an easy-fitting and patch-enclosed bullet, had been criticized by Colonel Beaufoy makers names of antique pottery england.
Beaufoy’s theories, which are given in his Schloppetaria of 1808, were widely supported during the period of the Napoleonic wars, and had a considerable influence on the design of the sporting rifles which were manufactured after the end of hostilities drop leaf table with spiral turned legs.
Baker, as has already been said, had designed the weapon which he regarded as best suited to a military purpose; but he had never claimed any great accuracy antique clerk desks. In his Observations he says:
‘ I have- found two hundred yards the greatest range I could fire at to any certainty commode art deco. At three hundred yards I have fired very well at times when the wind has been calm jules leleu display cabinet. At four and five hundred yards I have frequently fired, and have sometimes struck the object; though, having aimed as nearly as possible at the same point, I have found it to vary very much from the object intended whereas at two hundred yards I could have made sure of the point, or thereabouts antique caquetoire chair.’
To Colonel Henry Beaufoy the acceptance of such a standard of accuracy was heresy lenci masks. He maintained that the first requirement in a rifle was accuracy, and that other considerations must be subordinated to this end wash stands for center bowl. No gunsmith disputed the fact that if one increased the twist of the rifling from Baker’s quarter turn to, say, a full turn in the same length of barrel, the gain in accuracy would be considerable antique drawleaf table. ToBeaufoy this proved the case for increased twist; and for a firearm intended for target or competition shooting it would be difficult to say he was wrong czechoslovakian porcelain. But in the case of a rifle intended for the rough business of war, or for the sometimes almost equally dangerous pastime of hunting big game, there were other considerations most expensive antique glass vase.
If the bullet were to be made to spin faster (which was the purpose of a greater twist), it must be a tighter fit in order to grip the grooves of the rifling antique rotating dumbwaiter. This ‘would make it harder, and therefore slower, to load, and the loading of the Baker rifle was already a much slower process than that of a smoothbore musket brass escutcheons shelves. Further, if the explosion of the powder gave the bullet too hard a ‘Punch’, there was a danger that it might not settle into the grooves, and thus strip the rifling paw pottery small candlestick. The charge, therefore, had to be reduced italian immigrant porcelain figures mantelpiece flatbacks. But this gave a lower muzzle velocity, and consequently entailed a greater elevation of the muzzle for a given range victorian kidney shaped dressing table with glass top. The flat trajectory which Ezekiel Baker thought so necessary for troops in action was thus lost 18th century knife boxes.
It is only just to Beaufoy to say that he finally admitted in his own book that the type of rifle he advocated was only suitable for target shooting 19th century mechanical desks. He had found by experiment that the accuracy of the full twist rifle depended on the barrel being cleaned -after every shot, and he was too much -of a soldier not to appreciate that this would be quite impossible in action curule sette federal period antique. Nevertheless Beaufoy’s views had gained such wide acceptance that they governed rifle design for some years, and their author’s ultimate proviso as to their limitations was either ignored or not appreciated edwardian period furniture construction.
The theory of a considerable twist in the rifling was, of course, fundamentally sound 20th century dining table england. The difficulty in putting the theory into practice, however, lay in the shape of 20th century dining table england. the bullet ?????? galles. A round bullet had no depth of contact with the rifling, and therefore even with the tightest fit there was little to hold it to the grooves 1800’s wood dresser with tulip engraving. british meubles.
The advent of the percussion lock increased ‘the difficulties of the gunmakers, for the more rapid explosion increased the velocity of the bullet and the consequent tendency to override or* strip the lands of the rifling regency rent table polygonal. Since a tighter-fitting ball did not provide a solution, the charge had to be decreased again old buen retiro porcelain. In point of fact the charge had to be made so small that the muzzle velocity dropped to the extent that a rifle of the normal bore lost most of its penetration and stopping power fall front timber writing desk. For sporting rifles which were to be used against big game, the gunmakers tried to make up for this loss in velocity by increasing the herculaneum stoneware for sale.size of the bore, and therefore the bullet, so that the actual weight of the ball should make up for its loss in speed tureen hague or amstel. The result was a clumsy and inefficient weapon; and rifles of this type had far less power of penetration than a smooth-bore musket of similar bore greek designs and motifs. It is hardly surprising that the idea of re-equipping the Army with rifles aroused little enthusiasm 1930’s austrian furniture.
Eventually, of course, the attention of designers turned to the bullet in an endeavour to find an answer to the dilemma sarcophagus chests andre-charles boulle. The spherical shape was retained, but different types of projections were formed on the surface which were designed to fit into the grooves of the rifling and so force the bullet to follow its intended spiral path the most common colours of egypt. The most popular of these was the two-groove rifling with a belted bullet which had been adopted for the Brunswick rifle looking for 4 feet wide drop leaf table. The popularity of this system shows that it was at least reasonably successful; but as applied to the Brunswick it was a dismal failure arabisque furniture in ny. Captain Berners, who is credited with the design, must have intended to adapt a proved sporting rifle to military use antique stretcher or refrectory tables. Some writers have said that Berners’ original design incorporated an oval bore; and it may be that the Brunswick as finally accepted was a modified form for which Lovell was responsible n hall norfolk.
The next development, to overcome air resistance and obtain greater penetration with the same charge, was a bullet with a pointed end antique metal table with leaves. This achieved the desired result, but with its comparatively low velocity it had little stopping power; and was-of small use against, for instance, the charge of a tiger small-footed bowls raozhou.
In an endeavour to combine penetration with stopping power experiments were carried out with explosive bullets antique furniture empire chest of drawers. These were of pointed or egg shape, and the main function of the charge in the bullet was to open out its nose on impact and give the same effect as a hit with a heavy round bullet 19th century english george pedestal sideboard. Such a bullet was, in fact, proposed for military purposes by a Captain Norton in 1824; but it was rejected somewhat indignantly by a Board of officers, one of whose reasons was that such a weapon was unfitted for civilized warfare oak revival chair “carved seat”. (It is unlikely, alas, that such a criticism could be levelled against Captain Norton’s bullet to-day giltwood.)
Trials with explosive bullets were carried a stage further in the remarkable series of experiments which were conducted in India by the famous General Jacob, who raised the Scinde Horse and who is commemorated by the town which was named after him, Jacobabad patek philippe, 1930s, rectangular, hinged back.
Jacob first tried to improve the shooting of the Brunswick rifle, and found that a rifling with four grooves instead of two, and a bullet with two crossed belts to fit them, -gave much better results austrian empire furniture style. The East India Company, however, refused to adopt his suggestion that the Brunswick rifles of the Company’s army should be modified accordingly art deco hamilton donald deskey mahogany cabinet.
Jacob, nevertheless, continued his experiments with the bullet to try and obtain even more satisfactory results classical architectural decorative motifs. In order-to get a better grip on the rifling he decided to use an oval ball with projections, instead of a round one french drop front desk. It was well appreciated by gunsmiths at this period that the greater the surface of a bullet which was in contact with the rifling the better the grip would be; and that in fact a long bullet with parallel sides would be infinitely better from this point of view than a round one antique two tier drop leaf table. But the difficulty was that the greater the contact the harder it would be to load the rifle, and it was considered that after a barrel had become fouled with firing it would be impracticable to push down from the muzzle any bullet other than a round one antique silver apostle spoons. Jacob, however, found his oval bullets satisfactory enough to go a stage further; and he produced a fairly easy-fitting cylindrical bullet with a pointed nose and four longitudinal strips to grip the four grooves of his rifling north west antique dresser. His next step was to fit this bullet with an explosive head antique sofa gate-leg table. This so-called ‘rifle shell’ was very popular with sportsmen, though it was rather inclined to explode on impact antique porcelain food warmer. However, the further development of the rifle shell had no influence on military ammunition antique rococo silver candlesticks.
Jacob also had rifles made to his own design plate art nouveau bright colors. They had short barrels of about twenty-four inches, a calibre of ‘577 or -524 inches, rifling of four deep grooves, and one complete turn in thirty inches antiques. None of the rifles was ever officially adopted, but they were used quite extensively in the Indian Army; Jacob’s own regiment, the Scinde Horse, being armed completely with them 18th century porcelain.
The next method of obtaining a grip on the rifling to become popular was by expanding the bullet with the force of the exploding charge are william and mary chest of drawers rare?. The first rifle to be a general issue to the Army embodied this principle 18th century desserts. Although of basically French design, the original inventor of a bullet of this type appears to have been the well-known Newcastle upon Tyne, and later Birmingham and London, gunsmith, W dining room table made from huge clock. Greener italian,furniture,maker,address. Greener’s bullet was oval with a flat base, from which extended a tapered cavity french bronze porcelain and silver inlaid clocks. Into the cavity was inserted a tapered plug, of rather too wide a diameter to be pushed right home escritoire 19th century stinkwood. The bottom of the plug terminated in a flat disc of the same chippendale knife boxes octagon.diameter as the bullet 18th century mass produced tableware. The explosion of the charge drove the plug forward into the cavity, thus expanding the bullet 1930 british chairs. Greener’s bullet was given an official trial in 1836, but was rejected on the odd ground that it was a ‘compound bullet’ large frosted glass reproductions nudes. In 1857, some years after the Government had accepted a rifle based on this very principle, belated recognition was given to Greener’s invention, and in 1857 he was granted the sum of a thousand pounds ‘for the first public suggestion of the principle of expansion, commonly called the Minie’ principle, for bullets in 1836′ vintage three leg table base.
Some years before the period when Greener was trying to get his bullet accepted, Captain Delvigne of the French Army was experimenting on rather cruder lines art nouveau austrian artists candlesticks. Delvigne’s method was to have a chamber of smaller diameter than the barrel, against which the bullet came to rest, and was then expanded at the base by repeated ‘blows from a heavy ram- rod makers of silver table ware in late 1800’s. A bullet so treated was naturally too unsymmetrical to be very accurate in flight painted sideboard pine maryland. In place of this rough treatment, therefore, it was subsequently enclosed in a greased patch, and a tight-fitting wooden plug was inserted between bullet and chamber 1954 antique floor standing ashtrays. Delvigne’s bullet achieved a reputation in a most spectacular fashion in the Algerian campaign-of 1938 french art deco ceramic marks crackle glaze. A battalion of the Chasseurs d’Afrique was equipped by the Duke of Orleans with Delvigne’s rifle and ammunition for service in Algeria under his command antique tables a gibier. On one occasion, when he was out on a reconnaissance, the Duke was annoyed by the provocative gestures of an Arab sheikh some 65o yards away recueil de decorations interieurs. He called out to his escort that he renaissance goldsmith process. would give five francs to any soldier who could shoot the Arab royall naples factory. A Chasseur armed with the Delvigne rifle promptly stepped forward and shot the irritating Arab through the heart art deco antique dresser.
Following another attempt by Colonel Thouvenin to make the bullet expand by hitting it, Colonel Mini6, an instructor at the School of Vincennes, arrived at much the same solution as Greener 19th century porcelain religious figural. Mini6 used a pointed bullet with a hollow base inlaiditalianoccassionaltable. Fitting into this hollow was an iron cup, which was driven forward by the explosion, so expanding the ’skirt’ of the bullet walnut side tables and lowboys. This rifle was immediately adopted by the French Army; and shortly afterwards the British Government purchased the right to use the invention for 42o,000 antique french empire.
The new rifle which was thus introduced into the British Army was entitled the ‘Rifle Musket, Pattern 1851′ empire console pier table. It had a 39-inch barrel, a calibre of ‘702 inch, and a rifling with four grooves which made a complete turn in six feet six inches berkey gay antique furniture. This was a much slighter twist than the Brunswick had rh vase austria. The rifle was sighted up to woo yards brannam pottery. A modification for ‘Sea Service’ was produced by the novel method ‘of rifling with three grooves the ‘768 calibre smooth-bore Pattern 1842 musket italian brass inlay sideboard.
As has already been said, the Mini6 was the first rifle to be adopted for the whole Army, though in point of fact it was superseded by the Enfield long before all units had received it antique bentwood rocking chair. It was an infinitely better arm than the Brunswick, but it was not entirely satisfactory antique italian inlaid buffet. It was first used on active service in the Kaffir war of 1846-52, and all the infantry battalions which left England in 1854 for the Crimea, except those in the 4th Division, were equipped with it vintage chinese porcelain with two swords marked.
The Mini6 rifle had only a short life, as the Enfield, which succeeded it, passed its trials in 1853, and production started immediately 1850s gateleg with butterfly leaf. The Enfield was far in advance of any previous firearms issued to the British Army and gave extremely good service davenport desk mechanism. The barrel was thirty-nine inches in length, the bore ‘577 inch, and the rifling consisted of three shallow grooves which made a full turn in six feet six inches stripped pine washstands kent. Sighting was UP to goo yards antique 5 legged table. There were various modifications of this standard type of Enfield theodore haviland limoges, france pre world war ii solid white body. Carbines were made for the cavalry and other mounted units, and serjeants seem to have carried a rifle with a 33-inch barrel antique drum shaped table. This short barrel had five grooves instead of three, and an increased twist in the rifling which completed a turn in four feet chamber pot and bed table. The additional grooves and greater degree of twist were an improvement, and this walnut marble slab dining. type of barrel was subsequently adopted for all Enfield firearms raoul lachenal france egyptian blue vase. The bullet was hollow based, and later fitted with a tapered boxwood plug prudent francois mallard new york. The boxwood plug was eventually replaced by one of baked clay german buffet furniture.
The production of the Enfield was rather peculiar italy flowers raised antique ceramics. Lord Hardinge, who was then Master-General of the Ordnance, invited the leading gunsmiths of the country to submit samples of their own rifles walnut marble slab dining. The best features of these rifles were then embodied in the new design luxury antique items.
Issue of the Enfield to the troops started before the end of the Crimean war, and it was first used on active service before the fortress of Sebastopol 1800’s reproduction dining room tables.
The Enfield is probably best remembered, unfortunately, as the rifle which was the immediate cause of the Indian Mutiny antique oak gateleg tables. The cartridge was still opened by biting off the end with the teeth; and the rumour was spread that the cartridge was smeared with a grease made from cow’s, fat and the lard of pigs 17th century tea tray. As cows are sacred to Hindus, and pigs are anathema to Mohammedans, the story, if true, would have serious effects on the religious status of soldiers of both classes of the community drapery designs for dressing table. No convincing denial was forthcoming; and, on the other hand, there appeared to have been some evidence, whether true or not, that the allegations were not unfounded silver plated corinthian hexagonal base three light candelabra. The results were disastrous reproduction rococo etagere.
Peculiarly enough, the Enfield rifle was issued to the Company’s army before the Queen’s troops had all received it reproduction mochaware. The result was that when the Mutiny started, although the new rifle was already in the possession of some of the mutinous regiments of the Bengal Army, many of the British regiments, including the 32nd Foot (later the ist Battalion of The Duke of Cornwall’s Light Infantry) who defended Lucknow, still had the smooth-bore muskets of Pattern 184′ - Later arrivals in the country all had the Enfield; and the following extract from the Indian Mutiny Journal of Private Charles Wickins of the ,90th Light Infantry shows the effect of the new weapon:
`We marched on fora few miles, when the enemy again began to show themselves in force on oup right meiji clock. We opened fire on them and, our Enfields being well elevated, we made them move at a distance of 12 hundred yards french oak, “barley twist” chest of drawers.’
Enfield rifles, together with other British rifled and smoothbore firearms, were imported in large quantities by both sides in the American Civil War of i $ 6 z-6$ italian creamware. The Confederate States alone bought 70,980 of the long-barrelled rifles, as well as a number of the short-barrelled variety, and also Enfield carbines, and some specially made officers’ weapons known as `Jeff Davis’ Enfields with checkered stocks and nipple protectors secured by chains mid century decor mahogany rectangle divided tray. In addition’, the armouries of the Confederacy made some copies of Enfields http: antcollectors.com . One of these, first made at Arkadelphia in Arkansas and later at Tyler in Texas, had a calibre Of ‘54 inch and a barrel only twenty-seven inches long tudor rose design waterfall furniture. This weapon and a copy of an Austrian rifle of similar calibre were collectively known as Hill rifles, and some were marked ‘Hill Rifle Tyler C antique cutlery urns.S burr maple table.’, and others `Texas Rifle Tyler’ inurl:antcollectors.com . Closer copies of Enfield firearms were made by Cook & Brothers of New Orleans art deco upholstery. There were two of these: the 33-inch barrel rifle and the cavalry carbine japanned cabinets.
The latter had a 2 i-inch barrel and a nipple protector attached to the trigger guard by a chain chinese qing porcelains. When New Orleans was threatened by the advance of the Union forces the factory was moved to Athens in Georgia, and some of the arms are marked ‘Athens Armory’ drop leaf carved leg table with drawer. After the move to Athens the head of the firm, F great exhibition of 1851 aesthetic. W antique gateleg table with turned legs. C japanned antique chest-how to strip lacquer. Cook, raised an infantry battalion himself and was killed in action in 1864 drop leaf gateleg coffee table.
Though an excellent weapon for its period the Enfield was found to vary considerably in regard to the performance of individual rifles maryland antique sideboard. The difference was due to slight inaccuracies in the machining of the duncan phyfe drop leaf table.parts shu fu bowls. To try and find 19 century mahogany gateleg table. a remedy, Lord Hardinge, the Commander-in-Chief, in 1854 invited Sir Joseph Whitworth to carry out experiments with bullets and rifling king charles silver flatware. Whitworth was not a gunmaker, but he was noted as an engineer and for his work in precision machining and accurate measurement site:antcollectors.com. It appears that the first approach to Whitworth was made in the hope that he would devise machinery to solve the problem antique spanish talavera. However, Whitworth succeeded in persuading Lord Hardinge that a far more basic investigation was first required antique wood dressing screen ebony and ivory inlay.
In order to enable him to undertake his experiments, a Soo yards’ range was built at Whitworth’s Manchester home, and paid for by the Government prices for antique gateleg table. Since Whitworth had little practical knowledge of firearms, a well-known gunsmith, Westley Richards, was appointed as his assistant, and two Army officers were made available to help in the range tests and to advise on the military requirements “antique meissen porcelain”.
Two years of experiments resulted in the production of a rifle of Whitworth’s own design, which was tested against the Enfield in April 18 57 at the Hythe School of Musketry art deco marquetry plaques uk.
The Whitworth rifle was certainly of unconventional design antique divans. In order to reduce air resistance there was a considerable reduction of the bore; from the ‘577 inch of the Enfield, to a calibre of only -45o inch antique 54 empire table. The most remarkable feature, however, was the rifling late 1800’s dining table european. Instead of the usual grooves the barrel had a hexagonal bore with a twist which increased towards the muzzle modern dressing table designs. The first turn was completed in twenty inches antique spindle leg drop leaf side table. The bullet was of a similar hexagonal shape to the barrel, and was made of a specially hardened alloy rare antique drop leaf dining tables. It was impossible, therefore, for the bullet to override the rifling chinese influence to rococo.
The trial at Hythe resulted in an outstanding success for the Whitworth meissen, four continents. Sir J marcel goupy designs. E lotto design turkish carpet. Tennent reported the shooting of the competing rifles in his The Story of
the Guns, of 1864 rococo silver candlestick. He says:
‘The success [of the Whitworth> was surprising; in range and precision it excelled the Government [Enfield> musket three to one 17th century porcelain figurine. Up to that time the best figure of merit obtained by any rifle at home or abroad was twenty-seven; that is to say, the best shooting had given an average of shots within a circle of twenty-seven inches mean radius, at five hundred yards distance; but the Whitworth lodged an average of shots within a mean radius of four inches and a half from the same distance; thus obtaining a figure of merit of four and, one-half paw pottery small candlestick. At eight hundred yards it superiority was as one to four, a proportion which it maintained at one thousand yards and upwards russian neoclassical secretaire bookcase. At fourteen hundred, yards the Enfield shot so wildly that the record ceased to be kept; and at eighteen hundred yards the trials with it ceased altogether, whilst the Whitworth continued to exhibit its accuracy as before red lion furniture barker brothers los angeles.’
Nevertheless, with all the Whitworth’s remarkable accuracy it suffered from one very serious defect 17th century fashion in europ. Much fouling was accumulated in the recesses of the hexagon bore, which even a metal scraper failed to remove theodore haviland cherry plate. For this reason it was never adopted as a Service firearm; though the Rifle Brigade had it for a short time georgian telescopic silver candlestick.
As a match-shooting rifle the Whitworth was, naturally, a great success art nouveau origins. Its most famous appearance was on the occasion of the first meeting held by the then new National Rifle Association at Wimbledon in 1860 19th century folding breakfast table. The meeting was opened by Queen Victoria, and after the Address and her reply, the Queen went to a pavilion to fire the opening shot holophane verlys. Here there was a Whitworth rifle mounted on a rest and sighted on to a target 400 yards away french art carved inlay buffet. The Queen pulled a silken cord attached to the trigger and the bullet hit the target within one inch of the dead centre italy flowers raised antique ceramics. The iron plate with the mark of the Queen’s bullet on it has been retained at Bisley in commemoration of the event chelsea moons porcelain.
The Whitworths saw their share of active service, for a number were purchased by the Confederate States of America from the Whitworth Rifle Company of Manchester iranian brass oval trays. Presumably some of the hexagonal bullets were supplied as well, and perhaps owing to the Federal blockade it was impossible to replenish them what decade era antique inlaid diamond harlequin. At any rate the Southern troops seem to have used ordinary cylindrical hollow-based bullets without appreciable loss of accuracy 2009 chinese porcelain antique. The Union Generals Sedgwick and Lytle are said to have been killed by Confederate marksmen using Whitworths regency occasional table.
A very unusual rifle, the Lancaster, was adopted for limited use in the Army in 1855 1940’s english dresser table clock. This was derived from a sporting rifle made by Charles William Lancaster of 151 New Bond Street in London rousseau shagreen. Its most striking feature was the complete absence of the normal grooves to provide the rifling secretaire desk antique. Instead Lancaster used a smooth barrel of slightly oval bore; or, to look at it in another way, two round and very wide grooves opposite each other antique dressing table with mirror and knee hole. The bullet was cylindrical with a conical nose and was made of soft lead meissen, clock, marcolini. The explosion of the charge forced this soft bullet to take up the shape of the rifling, giving a very close fit dark silver candelabra.
As a military weapon, the Lancaster was first issued to the ist Battalion The Rifle Brigade for experiment, and was used on active service in the Kaffir war late 1800’s dining table european. It was ultimately adopted as the firearm of the Corps of Sappers and Miners antiques trends 2009. The final Army version of the Lancaster had a A-inch barrel with the same bore of ‘S77 inch as the Enfield 1850s gateleg with butterfly leaf. The oval bore had a twist which increased towards the muzzle, and completed a full turn in six feet six inches pillars on casters. To avoid complications in ammunition supply it was used with the Enfield cartridge leleu furniture.
The British Army finished the war against Napoleon with a somewhat mixed collection of smooth-bore firearms walnut armchair josef urban art noveau. There were three types of musket: the Pattern i8o2, the India Pattern and Brown Bess myott.son antique. It is probable that, with the rapid reduction of the Army which followed the peace, the two last mentioned disappeared fairly rapidly, and that the Pattern i 8o2 musket became the standard infantry weapon octagonal brass & silver table. The heavy cavalry were still armed with the Nock-type musket-bore carbine and ‘pistol which had been approved in 1796 old english pattern forks with four tines. The light cavalry carried the Paget carbine and pistol 1770 chippendale round salon table.
After every great war there is a tendency to cut down expenditure on the Fighting Services; and this affects both the size of the establishment and the provision of new equipment charles neo classism boulle. The result after Waterloo was that the small British Army had to wait about twenty-five years before the issue of percussion arms started, and even then it nearly received new flintlocks instead signed english art deco antique glass cabinets.
In 1834 comparative trials were at last carried out at Woolwich between flint and percussion locks, under the direction of Mr furniture copies. Lovell, the last person to hold the post of Inspector of Small Arms to the Board of Ordnance east indian antique silver. It may be that the Reverend Alexander Forsyth was responsible for these trials taking place ” american card table”. Colonel Hanger certainly thought so; for he wrote:
`In 1834, the Rev 16th century trestle refectory table. Mr 17th century boston silversmiths. Forsyth (the inventor of the percussion system) induced the Government to try a number of experiments, in order to test the value of his invention as compared with the old flint lock, and the result of these experiments was as follows:—Six thousand rounds were fired from a flint lock artdeco lamp. musket and’ a percussion musket, and the experiments were conducted in all weathers, six of each kind of arm being used telescoping console table. The results proved exceedingly favourable to the percussion principle, for out of 6,000 rounds from the flint lock there were 922 miss-fires, being i in 6-1, whereas in the percussion musket there were only 36 misses in 6,000 rounds, or i in x66 gustav klimt porcelain. The flint musket scored 3,68o hits; the percussion, 4,047 depression wood tea table. To fire ioo rounds the flint required 32 min examples of antique dressers. 31 sec robert adam pier table., and the percussion, 3o min identifying authentic yixing. myott and son hanley. 24 sec antique french saxon china flowers with gold.’
These results must have impressed the Board of Ordnance antique spiral legged small tables. At maryland antique sideboard.about this time a new series of flintlocks were designed for the Army thonet bentwood rocking chair. It does not seem, however, that they ever reached the troops, for the decision was suddenly taken to re-equip the Army throughout with percussion arms what is the greek word for furnitures.
The apparently surprising decision to replace the not very old Pattern i 802 by a new flintlock was taken, Mr american empire design antiques. Scurfield believes, through a desire to get rid of the 42-inch barrel antique metal double candelabra. The standard barrel length of the new weapon was the old Light Infantry thirty-nine inches voysey chalford table.
Serjeants carried a lighter version with a 33-inch barrel, and there was a still shorter one with a 3o-inch barrel for the Royal Artillery and the Royal Corps of Sappers and Miners value of a william and mary chest of drawers. This last weapon was termed a light carbine and had a 25-inch sword bayonet with a saw-toothed back edge victorian campaign bed. There was also a new, flintlock pistol, but this was issued as such and never converted duncan phyfe sofa c 1840.
In addition to the above weapons, a new light cavalry carbine appeared in: the rn art deco woman figure porcelain.id~dle I830’s- It does not seem, however, ever to have become a general issue reproduction ming porcelain. It was somewhat longer than the Paget carbine, having a 2o-inch barrel instead of one of sixteen inches antique gateleg table. The stirrup ramrod was retained warm entree dish. The lock was peculiar, since the steel was pivoted inside the lock plate, instead of on the outside antique silver plate vegetable warmer with lid. Owing to what was probably a sudden decision portuguese potters. to change to percussion arms, it is likely that production of this carbine was stopped prematurely antique “trestle table” kent.
The equipping of the whole Army with percussion arms was -a lengthy process 18c chair lion head. Although the manufacture of new firearms with the percussion lock was taken in hand immediately, it was intended that re-equipment should be carried out as far as possible by converting the new belgium porcelain dining tables. flintlocks antique hexagon ladles. Such a conversion was not a very difficult operation george ii burr walnut tallboy. The cock was replaced by a hammer mounted in the same position and striking on a nipple fixed to the top right side of the barrel duncan phyfe table and buffet. The nipple, of course, replaced the flash-pan and steel of the flintlock sette sofas chippendale 18th century.
The first new smooth-bore percussion musket was the so-called Pattern 1838 chippendale cutlery urns. Only comparatively few were made and its issue was confined to the Regiments of Foot Guards making cabriole legs with padded feet. As might be expected, in general form and appearance it was very similar to the earlier Pattern i 80 musket antique english column candlesticks. Together with the Brunswick rifle and the Victoria carbine for the cavalry, it formed a series for which Mr paw feet dining rooms table. Lovell was responsible; though whether he had an actual hand in design is not clear myott son & co. hanley. The 33-inch barrel was the shortest that had yet been issued to heavy infantry 19th century cutlery pennsylvania dutch. Serjeants of the Foot Guards were not issued with this musket, but with a 33-inch barrel version of its contemporary, the Brunswick rifle antique fluted legs.
Although the Brunswick rifle does not properly belong to a chapter on smooth-bore firearms, this may be an appropriate place to deal with it, since its issue was so closely allied with the other weapons for which Mr antique extending round dining table. Lovell was responsible art deco glass. It was intended to be the percussion replacement for the Baker rifle, and was officially designated ‘Lovell’s Improved Brunswick Pattern’ were exports scenes common in the chenghua period.
The new rifle was designed by Captain Berners, an officer in a Jaeger regiment of the Brunswick Army, and was adopted by the Board of Ordnance after trials at Woolwich in 1836 betty joel miroir antique. The rifling of the Brunswick was peculiar most valuable antique silverware. There were only two grooves, and they made one complete turn, in the length of the barrel antique oak dropleaf gateleg table. This was not a new idea by any means, for at the time of its adoption for the Army it was already the most popular form of rifling for sporting weapons can antique dressers pair with modern furniture. A special bullet was used with this two-groove rifling: spherical in shape, but having a•raised belt round the middle antique european sideboard, etagere, cabinet,. The belt fitted into the grooves, which were fairly deep, and the bullet of the sporting weapons fitted the bore sufficiently easily to be rammed home without difficulty 19th century side tables. In practice the results ob1 tained with this type of rifle were not as good as they would seem to be in theory what is antique library table worth. There was a good deal of friction in the barrel through the bullet magnificent table 18 century marble. not being able to move freely, there was a heavy recoil, and the shape of the bullet did not lend itself to accurate flight contemporary british cabinetry best examples.
The calibre of the Brunswick rifle was ‘704 and the barrel length (except as mentioned above) was thirty inches duncan phyfe buffet. It was sighted to 300 yards, was fitted with a cross-handled sword bayonet and measured three feet ten inches overall french restoration table. It was a thoroughly bad weapon; perhaps the worst ever issued to British troops antique dining fold over tables with leaves. One of the troubles seems to have been that the ball was made too tight-fitting, and another that there was insufficient power behind the bullet to keep it spinning sufficiently rapidly for straight flight deco airplane stand.
The unfortunate Rifle regiments were inflicted with the Brunswick up till the Crimean war officers campaign bed. Their opinion of it is reflected in a report submitted in 18 52 by a Select Committee on Small Arms:
`At all distances double scroll legs desk art deco. above four hundred yards the shooting was so wild as to be unrecorded rose emblem. The Brunswick rifle has shown itself to be much inferior in point of range to every other arm hitherto noticed d-form dining table. The loading of this rifle is so difficult that it is a wonder how the Rifle regiments have continued to use it so long—the force required to ram down the ball being so great as to render any man’s hand unsteady for accurate shooting empire sofas. Comment is unnecessary pierced silver hot plate made in italy.’
Lovell’s other firearm was the ‘Victoria’ carbine drop leaf carved leg table. Like the heavy cavalry carbine of 1796, it had a 26-inch barrel of musket bore chinese mother of pearl chair rosewood antique. It was issued, apparently, to the Household Cavalry only vintage chinese black lacquer card table.
At the same time as the Lovell weapons were appearing the conversion of all three types of the new flintlock musket was taken in hand george 11 antique lacquered furniture. The percussion version was known as Pattern 1839, and except for the altered lock was identical with its flintlock predecessor early nineteenth century german desk.
It is probable that there were sufficient of the flintlock muskets to equip the whole Army with converted arms seek jingdezhen plum blossom porcelain vases. However, in 1841 there was a disastrous fire in the Tower of London which destroyed many thousands of firearms awaiting conversion 1940’s mahogany dining chairs. As a result a new series of arms had to be manufactured antigue table cloths 1920. The musket was called Pattern 1842 rectangular dropleaf tables. It was similar to, and was produced in the same three barrel lengths as, Pattern 1839 federal style 18th century dresser. The only major difference was that the bayonet of the short musket was no longer saw-backed julius mihalik.
There were two percussion carbines for the cavalry: musket bore for the heavy cavalry and carbine bore for the light cavalry rectangular oak gateleg table. The carbine for the heavy cavalry retained the 26-inch barrel silver candlesticks flower. That for the light cavalry had a slightly longer barrel than the last flintlock weapon of twenty-one inches how to value lowboy queen anne.
Mr stone china george jones stoke on trent. Scurfield hag made some interesting comments on the final changeover from flint to percussion arms jockey cap caddy spoons. He says: `A tradition persists that some regiments going from India to the Crimean War were still armed with flintlocks, but I have never found any confirmation, and to me it seems rather improbable davenport cabinet desk. All the same, I do not know when the Regular Army handed in its last flintlocks, and can only suggest that it was between x 84 and i850—perhaps not long before 1851, the year of the Great Exhibition antique neoclassic furniture. The Militia went straight from the India Pattern flintlock to the Enfield rifle in the very late 18 -So’s or early 186o’s antique white chamber pot.
`In 1846 the 27th Foot (Inniskilling Fusiliers) in South Africa were still armed with a mixture of flint and percussion muskets, but two battalions of the gxst were completely equipped with percussion; it would be interesting to know whether they were Pattern 1839 or Pattern 1,842—or some of each antique tea cabinet.’
In the years following the Napoleonic wars most of the cavalry’s pistols had been withdrawn walnut baluster leg table. Lancers -carried them in place of carbines, which got in the way of the lance; and in other regiments they were retained by serjeant-majors and trumpeters, who also did not carry carbines furniture makers of the 16th century. To meet this limited need a percussion pistol was made with a musket bore and a 9-inch barrel antiques pottery made in coimbra.
The fulminating compound which was used in these first military percussion arms was made up of three parts of chlorate of potash, two parts of fulminate of mercury and single gate leg tables.one part of powdered glass antique italian rococo bedroom set marble and wood.
This I iron was used exclusively in the manufacture of the better firearms; and it may have been its very quality which was responsible for the establishment of a tradition in the production of fine arms antique gateleg drop leaf table . Instead of welding a flat piece of metal into a tube, the Spanish gunsmiths formed a barrel by twisting the metal george iv fabrics . A long flat strip of wrought iron was coiled round a mandrel, heated, and knocked together from the two ends till it formed a solid tube with a spiral weld 19th century english oak urn shaped double pedestal refectory table . An additional Spanish touch was to bore out the barrel to a slightly larger diameter at both the breech and the muzzle ends english early ‘victorian upholstered round . The object of this was to give the bullet more resistance, and hence increased power, at the start of its journey; and then to increase its velocity by giving it greater freedom of movement just before it left the muzzle antique china furstenberg . It seems doubtful whether this Spanish boring added anything to the efficiency of a very fine barrel antique pemproke tables .
The first guns with twist barrels to be made in England were naturally the expensive weapons which were made for private purchase by sportsmen; and this may have happened, J jean dunand fakes vases . N 19th century american rosewood rococo console table . George suggests, some time shortly after 175o painted china cabinets + pictures . The favourite source in England for iron of a suitable quality was the metal salvaged from old worn-out horse-shoe nails doric china/tea sets/longton . This, apparently, surprising choice was due to the fact that the nails for horse-shoes were made out of the best wrought iron obtainable; and were subsequently toughened by pounding over the rocky, boggy or dusty tracks which passed for roadways in the latter part of the eighteenth century antique paper-mache desk . The strips of metal which were produced from this material were twisted in the Spanish fashion; and from the origin of the metal this type of manufacture was known as ’stub twist’ 1920s antique oak refrectory dining table .
THE ARMY’S FIRST RIFLE
The brief appearance of rifled firearms in war has been mentioned in Chapter II painted slant front desk . But for a hundred years after the Restoration the British Army fought wholly with smooth-bore weapons tripod pedestal . It was not till the American War of Independence that British troops encountered rifles in the field, and a halfhearted attempt was made to redress the balance design contemporary dressing table .
In 1747 a remarkable paper was read before the Royal Society by one Benjamin Robins catherine the great of russia plates . It was entitled ‘Observations of the Nature and Advantage of Rifled Barrel Pieces’, and it forms the basis of current thinking on the effect and desigq of rifling british sideboards . Robins was Engineer-General to the Honourable the East India Company, and a very distinguished mathematician kuba rugs prayer .
He explained the difference between a smooth-bored and a rifled barrel in the following terms: ‘A common piece has its barrel smooth on the inside, whereas the rifled piece has its cylinder cut with a number of spiral channels: so that it is in reality a female screw, varying from the fabric of common screws only in this, that its threads or rifles are less deflected, and approach more to a right line: it being usual for the threads with which the rifled barrel is indented to take a little more than one turn in its whole length marquetry patterns flower . The number of these threads in each barrel are different, according to the fancy of the workman, and the size of the barrel; and in like manner, the depth these channels, or rifles, are cut down to is not regulated by any invariable rule, but differs according to the country where the work is performed, or the caprice of the artificer cabriole legs basin .’
Robins pointed out that the usual method of loading a rifle was, after inserting the correct amount of powder, to put a bullet on top of the muzzle which was slightly larger than the bore had been before cutting the rifling antique mahogany round table brass feet with drawer . The bullet was then hammered down with yammer and mallet setobody . He maintained, however, that the sole function of rifling was to spin the bullet, in order to neutralize its inevitable inequalities and thus keep it straight in flight george 11 pad foot dining table . It will be remembered that it was this same theory, on the analogy of the flight of an arrow, which is believed to have inspired Augustus Cotter in his manufacture of the first rifle 1925 antique floding desk .
The contemporary view was that the main function of the grooves of the rifled barrel was to add to the resistance offered by the bullet to the explosion of the powder; and that the spin imparted to the bullet enabled it to bore its way into the target queen ann gate leg table . Robins proved that these theories were quite wrong nursing chair paw . He then went on to show that since the extra resistance of the rifling was not a factor in increasing the power of the explosion, the barrel should be as near smooth-bore as was consistent with spinning the bullet ball and claw tripod table antique . From this he deduced that instead of forcing the bullet in, it was better to have a bullet rather narrower than the bore, and to lay it on a patch of material greased on both sides, which would enclose the bullet and grip the rifling as the two were pushed up the barrel imperial gillow dining table . This method was already used in parts of Germany and Switzerland types of decoration on the shaft of a tea table .
Robins concluded with the following passage: ‘I shall close this paper with predicting that whatever State shall thoroughly comprehend the nature and advantages of rifled barrel pieces, and, having facilitated their construction, shall introduce into their armies their general use, with a dexterity in the management of them, they will by this means acquire a superiority, which will almost equal anything that has been done at any time by the particular excellence of any one kind of arms; and Will perhaps fall but little short of the wonderful effects, which the histories relate to have been formerly produced by the first invention of firearms 16 century antique english tables .’
In Germany rifles had been used as sporting weapons for very many years chippendale dining double pedestal . In 1709 the first group of German immigrants arrived in America, bringing with them a number of these sporting rifles “oliver bernard” pel . Also included in the party were some gunsmiths together with their tools gateleg table antiquequeen ann . The Germans settled down in the Lancaster Valley district of Pennsylvania, and proceeded, amongst other activities, to make rifles marquetry semi-circle drop leaf . The development of their rifles is of interest, for it was responsible for the first introduction of the rifle into the British Army art dec countries .
The German rifle of 1709 was a clumsy weapon pillars on casters . Its calibre varied from ‘75 to ‘875-, and it had a short barrel of from thirty to thirty-six inches antique silver candlesticks . The barrel was too short for the poor powder of the period, which was never fully consumed and consequently fouled the barrel badly telescopic table furniture . The ball was of the tight-fitting variety, hammered in with mallet and yammer chenghua footrims . Performance varied from rifle to rifle and was often erratic, for the type and twist of the rifling depended on the fancy of the maker bugatti oriental style desk .
The rifle which the Lancaster Valley gunmakers evolved from the original ‘Jaeger’ had a bore of 48, a barrel of forty inches in length, uniform rifling and greatly improved balance noritake earlyware . Furthermore, the bullet was of slightly smaller diameter than the bore and smeared with grease or tallow, so that it slid easily down the barrel 16th century english joyned table . In the stock of the louis xvi revival sideboard . rifle was an aperture covered with a hinged flap in which the bullets were stourbridge pink marbled overlaid on opaline glass . kept antique french inlaid dresser .
On a still later version the bore was further reduced to ‘45- inch calibre and the barrel lengthened to forty-two inches cabinet makers marks england . With the longer barrel less powder was required, range and accuracy were improved, and there was considerably less fouling due to the better combustion serpinetine leg table antique oak . The next improvement was the use of the greased patch instead of greasing the bullet porcelain wincanton . This had the effect of filling the grooves of the rifling, so that 16th century english chamber pot .the compression behind the bullet was still greater, and the patch cleaned the rifling swedish bedside tables .
By 1740 the Lancaster Valley, or Pennsylvania, as it came to be known, rifle had become almost standardized inexpensive antiques . The barrel had now an even greater length of forty-four inches; and it was flared at the muzzle and had a slightly choked bore francaise antique . This was the weapon which was used with such effect against the British troops in the War of Independence hepplewhite sofa .
The American troops used their rifles for skirmishing and guerrilla attacks, whilst for close-order fighting the bulk of the infantry were armed, as were the British, with the smoothbore musket english apostle antique teaspoons . Nevertheless the elusive and accurate riflemen formed a valuable arm of the American forces, and they were particularly formidable in broken or wooded country parts of chambersticks .
The British Army had no riflemen of its own to provide a similar harassing and protective screen oriental gated tea tables . Several of the German states, however, included Jaeger regiments, armed with the rifle, in their forces aztec “art deco” rectangle vase . The British Government therefore made inquiries and succeeded in persuading the Landgrave of Hesse to hire a body of his troops antique furniture deutch . The solution, however, was not a happy one 17th century french fashion . The peasant conscripts in the Hessian regiments were largely untrained, and the rifle with which the Jaegers were armed was of very poor quality, and did not stand comparison with the Pennsylvania rifle early 19th century upholstery fabric . It had a short barrel, rifled with six or seven grooves, and an oversize•bullet which was driven in with mallet and ramrod antique console dresser . Its rate of fire was only about one shot a minute, as compared with the two or three shots of the Pennsylvania rifle 16 century chairs caved . It was, in point of fact, very similar to the old original rifles which the Lancaster Valley settlers had brought with them from Germany antique queen anne style burr walnut coffee table .
Captain Hanger, already mentioned as the author of To 111 Sportsmen, was himself an officer in one of the Jaeger regiments; and one of the best rifle shots in England art deco antique dresser . The appreciation of the American rifle which he gives in his book is therefore worth quoting staffordshire flatback fakes . He says:
`I never in my life saw better rifles (or men who shot better) than those made in America antique armchair ardwood anglo . They are chiefly made in Lancaster, and in two or three neighbouring towns in that vicinity, in Pennsylvania de coene art deco . The barrels weigh about six pounds two or three ounces, and carry a ball no larger than thirty=six to the pound; at least I never saw one of a larger caliber, and I have seen many hundreds and hundreds 19th century side tables . I am not going to relate anything respecting the American War, but to mention one instance, as a proof of most excellent skill *of an American rifleman difference between secretaire y bureau a cylindre . If any man show me an instance of -better shooting, I will stand corrected antique british chairs .
`Coloncl, entry dressing table .now General Tarleton, and myself, were standing ,a few yards out of a wood, observing the situation of a part of the enemy which we intended to attack candelabra empire style reproduction . There was a rivulet in the enemy’s front, and a mill on it, t6 which we stood directly with • our horses’ heads fronting, observing their motions antique mantel french clocks 1800 hundred candle set . It was an absolute plain field between us and the mill—not so much as a single bush on it saxony flowers 1700s . Our orderly-bugle stood behind us, about three yards, but with his horse’s side to our horses’ tails kuba rugs prayer . A rifleman passed -over the mill-dam, evidently observing two officers, and laid himself down on his belly, (for it is in such positions they always lie); to take a good shot at a long distance tripod antique folding pie crust table . He took a deliberate and cool shot at my friend, at me, and the bugle-horn man antique dutch coffee trestle table 17th century . I have several times passed over this ground, and ever observed it with the greatest attention and I can positively assert that the distance he fired from, at us, was full four hundred yards antique dealer furniture iron louis xvi .
`Now observe how well this fellow shot sofa carved top rail . It was in the month portuguese trestle tables .
of August, and not a breath of wind was stirring antique bureau writing desk . Colonel Tarleton’s horse and mine, I am certain, were not anything like two feet apart, for we were in close consultation how we should attack with our troops, which lay 300 yards in the wood, and could not be perceived by the enemy lion paw dining room table . A rifle ball passed between him and me; looking directly to the mill, I evidently observed the flash of the powder greek designs and motifs . I directly said to my friend “I think we had better move, or we shall have two or three of these gentlemen, shortly amusing themselves at out expense antique hot water plate warmer .” The words were hardly out of my mouth, when the bugle-horn man, behind us and directly central, jumped off his horse and said “Sir, my horse is shot bureau plat charles boulle .” The horse staggered, fell down, and died lion claw dining table antique .’
In spite, however, of entering upon the American War without any riflemen or rifles at all, the British Army very shortly acquired the best and most revolutionary rifle in the world walnut gaming table with pillar legs . Its inventor was Captain Patrick Ferguson of the 71st Highlanders oak drop leaf gate leg side table . Ferguson commanded the Light Infantry company of his regiment antique brown staffordshire . One of the finest rifle shots in the Army, and convinced of its value as a military weapon, he had designed this rifle to prove his theories gustov klimt chairs . The whole of his company had been equipped with it, probably at Ferguson’s expense, and then trained as a rifle unit carpets oriental .
The great advantage of the Ferguson rifle was that it could be fired at a greater speed, not only than any other rifle, but also than any smooth-bore musket berkey & gay antique chest of drawers lion design . It was a breech-loader, and it was the ingenious loading mechanism which was responsible for its high rate of fire chicken coop shelves .
A plug, a little larger than the bore, was screwed into the barrel behind the chamber and passed from underneath the stock right through to the top, where it fitted flush with the barrel walnut ball claw gateleg table value . When this plug was closed it formed the breech-piece scandinavian wood furniture maker’s marks . It had twelve to fourteen rapid twist threads instead of a single screw thread jan van mekeren . The lower end was attached to a lever which formed the trigger guard english ironstone”, staffordshire . Swinging the trigger guard round laterally for three-quarters of a turn lowered the plug J inch and opened the aperture for loading: the top surface of the plug being now flush with the lower surface of the barrel leopold stickly table 1959 . The bullet was then dropped into the aperture and rolled forward by canting the muzzle downwafds till it touched the lands of the rifling, and the powder poured in behind it antique silver roll top warmer . Pulling the trigger guard back again closed the breech, and the rifle was ready for firing art deco representative artist . The pan was primed by a separate operation after the closing of the breech antique red leather upholstery chair with arm .
The barrel was short compared with Brown Bess, being only 35 inches long edge simplicity tub chair . The bore was 15, and the breech chambered to take a bullet of the same dimensions vintage buttterfly dropleaf tables . The bullet was -thus tight-fitting but not oversize pictures of antique tables and chairs . The rifling consisted of 8 deep grooves, twisting for about three-quarters of a turn in the length of the barrel furniture 19th century . There was a leaf back-sight which was adjustable for ranges from ioc, yards to Soo yards moser antique glass . The bayonet had a flat, single-edged sword blade 25? inches long reproduction mochaware .
In 1776 Ferguson with his company, all volunteers, was ordered to America early 17 centurey gateleg tables . While the men were preparing to embark Ferguson gave a demonstration of the rifle’s capabilities antique walnut dropleaf tables . The demonstration was reported by the Innual Register of June 1776 as follows:
`On the 1st of June, 1776, he made some experiments at Woolwich, before Lord Viscount Townshendj Lord Amherst, General Harvey, D6ragliers, and several other officers with the rifle gun on a new construction, which astonished all beholders http://antcollectors.com/antique-furniture/art-deco-cabinets-and-sideboards-british-walnut-sideboard-burled-maple-console-french-commode-french-side-cabinet-british-sideboard-british-display-cabinet-british-side-cabinet . The like had never been done with any other small arms open and closed dressing table, satinwood, english c, 1800 . Notwithstanding a heavy rain and the high wind-, he fired during the space of five minutes at the rate of four shots a minute, at a target two hundred yards distance chippendale cutlery . He next fired six shots in one minute, and also fired (while advancing at the rate of four miles an hour) four times in a minute furniture ecole de nancy . He then poured a bottle of water into the pan and barrel of the piece when loaded so as to wet every grain of powder, and in less than half-a-minute he fired with it as well as ever, without extracting the ball tall sheffield corinthian column . Lastly, he hit the bull’s-eye lying on his back on the ground, incredible as it may seem to many, considering the variations of the wind and the wetness of the weather vernacular scottish . He only missed the target three times during the whole course of the experiments british sideboards .’
Ferguson’s company sailed for America as an independent corps of riflemen anc clad in rifle green antique drop leaf table wooden hinges . Ferguson himself carried instructions authorizing him to select men from various regiments for training and incorporation in his command pier table empire . The Commander-in-Chief, Sir William Howe, did not, however, take kindly to this new force, and it does not appear that Ferguson was allowed to have much success in obtaining recruits silver apostles spoons .
The corps went into action for the first time at Elk Head on the 25th August 1777 gateleg drop leaf mahogany table . It then covered the advance of Knyphausen’s division to Brandywine antique table wooden hinge drop leaf . During this advance Ferguson, -with three of his men, was apparently carrying out a reconnaissance beyond the British encampment at Kennett Square, when the chance of changing history came within range of the Ferguson rifle paris antique pine dining furniture . The small party heard the sound of horses’ hooves approaching, and dived into cover at the edge of a wide clearing brass skimmer antique . Soon afterwards there rode into the clearing two mounted officers rare tureens . One of them was dressed in a uniform of blue and buff with, on his head, a large headdress described by Ferguson in his notes as a ‘remarkable cocked hat’ “desk”+”antique” . The antique 1920 art deco period pieces walnut china cabinet and buffet .other officer was a Frenchman in Hussar uniform art deco furniture cylinder . To fire, as Ferguson said afterwards, would have been like shooting a sitting grouse; and he and his men remained quietly watching until the pair finally rode off dressing table with porcelain figures . In a report written later, and contained in the Public Record Office, Ferguson said that, dutch walnut cabinet . ‘as I was within that distance at which in the quickest firing I could have lodged a half dozen balls in or about him before he was out of reach george 11 pier gilded table . rectangular dropleaf tables . mahogany chippendale drum table . but it was not pleasant to fire at the back of an unoffending individual who was acquitting himself truly of his duty so I let him alone’ examples of 19th century pennsylvania furniture .
Some time later a wounded American soldier, who was being treated by the British, said that on the day concerned his commanding officer had told him that General George Washington and a French officer were in the neighbourhood jacobean display cabinet . This would include the ar eawhere Ferguson had lain concealed palissy patterns . Other American wounded confirmed that the description given of the uniform of the two officers italian room art-decoration . agreed with that worn by Washington and his French officer in attendance faience porcelaine cri……france .
Ferguson heard of these statements confirming the identity of the man he had spared when he too was lying in hospital after jupe round dining table . the amputation of his right arm ltd edition catteau .
For Ferguson’s unit had been badly hit at the battle of Brandywine trestle library table . In addition to its commander, forty out of its effective strength of eighty had been killed or wounded what kind of base is most stable for drop leaf table? . Whilst he was on the sick list the rifles were withdrawn from the remainder of the company and muskets issued instead antique oak games table . On his return to duty an angry Ferguson had the rifles brought out of store and reissued deco rocket cabinet . The reconstituted rifle corps did gallant service at Stony Point, Long Island, Harlem, White Plains and Dobbs Ferry meissen marcolini group . A particularly valuable characteristic of the Ferguson rifle was that the pattern of breech mechanism allowed the firer to load it lying down decorative spindle legs from antique card table . This made it much easier to remain concealed, and on at least one occasion it resulted in an attack by a far larger American force being defeated william kent staffordshire .
Presenting the Plan d3sf4wr6gk
Joe had created a business plan for a new gourmet mustard venture. He had spent a great deal of time developing the business initially and very little time putting together a business plan itself. It took Joe a good long while to learn the importance of the look of the plan. It almost cost him everything.
Joe’s plan was a visual mess. The margins were only half an inch wide. Joe had learned in school that wide margins on term papers meant you didn’t have anything to say. In the world of academia, the narrower the margins, the more words per page. More words per page meant more content, which to his professors meant that more work had gone into the effort. And by this measure (instead of an actual reading in some cases) a better grade was received. And so, consequently, Joe felt that with narrow margins and a cramped style the brilliance of his plan would be revealed.
Instead, the opposite was true. The first venture capitalist to receive the plan took one look at the tightly spaced and crowded first page and set the whole thing aside. All Joe received was a letter saying the investment didn’t fit their profile. He never learned it was the presentation of the plan itself that didn’t fit their standards.
The second venture capitalist to receive the plan was a stickler for consistency, neatness, and grammar. Joe’s plan was inconsistent in the formatting of tables, charts, and section headings. It was stapled together in a fairly sloppy fashion. Joe had not bothered to spell-check. By the time the second venture capitalist saw his second spelling error, he had had enough. The whole plan was set aside, and Joe again received a letter saying the investment did not fit their profile.
Joe was perplexed. He had done a great deal of work putting everything in place. He was ready to start shipping cases and cases of the product. He felt like he wasn’t getting a straight answer. He needed to know why the venture guys didn’t relish his gourmet mustard.
One of Joe’s friends offered to hook him up with a venture capitalist who would give him a straight and honest appraisal of the plan. Joe jumped at the offer and overnighted the plan that afternoon,
In three days, Joe met with Jessica, a well-dressed, no-nonsense professional investor. Jessica got right to the point. Joe’s plan was a disaster. It was difficult to read because it was too cramped, without any relieving white space. It was a jumble of type styles and inconsistent formats. The binding with off-centered staples was not neat or professional. Jessica said the entire product reflected poorly on Joe and his business. And in a game where first impressions are crucial, Joe’s current first impression would never lead to a second one.
Joe was crestfallen but thanked Jessica for her candor. He muttered he would probably lose his orders for 100,000 cases. Jessica immediately picked up on the comment. What 100,000-case order? Joe elaborated that he had received several purchase orders from the likes of Safeway and Wal-Mart. The buyers loved this gourmet mustard and were awaiting shipment.
Jessica asked Joe why the purchase orders weren’t included in the supporting materials. Joe didn’t realize the documents themselves were important. He had mentioned the orders at the bottom of page 27. Jessica scoldingly told Joe he was hiding his light under a bushel. Orders of that magnitude should be mentioned on page 1 and attached as supporting material exhibits.
Joe smiled. Did she think he had something? Jessica was now tearing through the financials, the management section, and all her other favorite parts of a business plan. She was starting to appreciate the opportunity in front of her.
As it turned out, Jessica’s firm invested in Joe’s business. And in the process, and very fortunately, Joe came to fully appreciate the importance of plan presentation and the inclusion of important supporting materials.
Your First Impression
The first impression many people will get of your business is your plan’s appearance. Do you think a potential investor or lender will look differently at a business plan that is neatly bound and formatted for ease of understanding compared to one that is written margin-to-margin in purple crayon? What impression do you want to give? Here are a few hints for a good-looking plan:
• Use white (or very light-colored) paper.
• Margins should be at least one inch (but less than two inches) all the way around.
• Font styles should be kept to a minimum (no more than three).
• Colors should be used conservatively (photos and complicated graphics are exceptions). Black print and one or two accent colors are best.
• Pages should be printed on one side only.
• The entire document should be single-spaced with double spaces between paragraphs.
• Don’t be afraid of white space.
• Use bulleted points whenever you can.
• Be consistent with formatting of tables, graphs, charts, titles, and section headings.
• Use neat, professional binding—no staples.
• Use a spell-checker.
• Get someone you trust to look through and read the plan.
• Include a table of contents at the beginning and an index at the end.
Your cover sheet should include all the information a reader will need to get ahold of you (company name, address, and phone number; names, titles, addresses, and phone numbers of owners) as well as the company logo, the date the plan was prepared, and the name of the person who prepared it.
Length
It’s ironic that it takes a 200-page book to explain how to write a succinct business plan. Typical business plans average between twenty to forty pages, including support materials. (Others, of course, maybe longer.) On the surface, it may seem unnecessary to do all the research and planning and organization we suggest, but think of your business plan as a crucible. The research, planning, and organization are the components you focus on in order to create a successful business. A winning business plan not only maps out the keys to a successful business but, more important, addresses the unique aspects of your business in a way that will serve your unique temperament, goals, and experience while simultaneously meeting the needs of investors and financiers.
So how long should your business plan be? The answer is simple: as long as it needs to be. How do you know how long it needs to be? You do the preliminary footwork. This book is an excellent first step. Then start writing. As you write it all out, you’ll get a sense of how long feels right. And again, have trusted friends review your work. They’ll help you determine which areas need to be fleshed out and which ones need to be pared down.
Presentation
Business plans are meant to be seen. Whether you wrote your plan to attract funding or to help with management, you will need to show the plan to someone.
• The plan’s appearance reflects your commitment to creating a winning business plan.
• The plan’s content is far more important than its appearance, but it won’t be read if it lacks a professional look.
If you wrote your business plan in order to attract funding and/or investment, you will need to get the plan into the hands of the people who can decide whether or not to give you money Most of us are uncomfortable when it comes to talking about money. Many of us were taught that it is rude to talk about something so crass. But if you want someone to give you a loan or invest in your company, you will have to get over your upbringing because you can’t just mail out your plan and hope for the best.
If you want loan or investment approval, you will need to schedule meetings to present your plan. Don’t think that just having the meeting and leaving the plan for the decision makers to read will cut it. Don’t leave something as important as your business’s future to chance. Decision makers may promise to read your plan and give it consideration, but you can’t be sure they actually will. The only way to be sure that your potential investors or funders get your message is to present it.
The presentation of your business plan should be a business meeting, a formal presentation. Even if the potential investors are your parents and your little brother, you want to present your plan in a serious and professional manner. (Remember, you can’t advertise for people to come to this meeting.) But for your preexisting audience—your friends and family and any professionals you’ve been in touch with—you might want to use a conference room. This room can be at the potential investor’s or lender’s office. If not and you lack the facilities, try borrowing space from a friend or renting a conference room. You might want to use presentation equipment, such as a computer/projector for your PowerPoint presentation. You should give your audience hard copies of your plan as well. When is up to you.
You can have the plan delivered before the meeting so that your audience will have time to formulate questions, though you run the risk of them making a negative decision before you have a chance to highlight all your positive points. Try having the plan delivered just the day before the meeting so your audience can become familiar with it without enough time to make a decision. Or you can hand out the plan at the beginning of the meeting, though here you run the risk of your audience reading while you are trying to present. Either way, have copies of your presentation slides to hand out so your audience can follow along.
Your slides and their corresponding handouts should contain short, bulleted points and be in the same visual style as your plan. Your presentation should be less formal than your plan in that you don’t want to sound like you are reading. Try to make it as much like a story as you can. Practice your presentation and get feedback from people you trust to give You honest opinions before you go before people who can make or break your business. Keep in mind that your audience can read—your slides and your handouts—so you don’t have to. Let your slides be reminders for your talk. Let them remind you what points you want to make and then expand from there.
If you wrote your business plan to aid in management, who sees the plan will depend on your business, your style, and your goals. Obviously, if the whole business is comprised of you and your spouse, there don’t need to be a lot of secrets. But if yours is a business with a rigid hierarchy with decisions made only at the top level, you might want to limit access. You might choose to share your plan with management only or show employees on a need-to-know basis. You might distribute a version of the plan (say, a version without financial detail, but with graphs and percentages instead), or you could include sections of the plan in your employee manual. It is entirely up to you. Odds are you will want to consider the twin needs of protecting sensitive information and building a sense of ownership, and only you know how to do so.
While people involved with money will have a pretty good idea why you are showing them your business plan, employees might not. You might include your business plan presentation as part of a company retreat or have a special meeting just for the plan. Maybe you want to introduce the plan to everyone at once or department by department. Wherever you choose to have your plan unveiled, be sure you are present. You may choose to deliver the entire message yourself, or you might be better served using a team approach, with appropriate managers discussing different sections. Again, it comes down to your particular approach and your particular business. Regardless, be sure to explain what a business plan is and how it should be used, why you are showing it, and what you expect listeners to do with it. Similarly, if you use the plan as part of your training program for new employees, be sure that they are not just handed the plan cold but are given the same message you gave the others.
As your business and your business knowledge grow, take some time to check back in with employees to see how the plan is being used and how employees feel it is working. Get suggestions and comments from employ ees and then use that input to improve the plan. Let the plan work as a road map, a checkpoint, and a management tool.
Your Plan Is a Living Document
A business plan is an ever-changing, never-completed document. It is always in a state of revision. With the passage of time, expertise grows, markets change, customer bases alter, and technology continues ever onward. Anyone who reads your plan should get the most up-to-date and complete information you are capable of providing. This means that even after you write the last section of your plan, you need to continue to study the markets and stay abreast of industry, market, and economic trends. Just as your business will be in a constant state of flux, so, too, should your plan be.
Anticipating Problems
Ideally, any business plan, whether written for management purposes or to attract funding, will help anticipate problems that could strike your company. Are costs of supplies going up? Is technology getting cheaper? Is competition increasing or decreasing? What is the motion (if any) of your labor pool? What advertising trends seem to be coming around again? Where is the economy in its current cycle? Are your best-selling products peaking, or are they on their downward slide? Which products are showing new strength? Use your plan to draft alternate budgets so you will have some sort of road map if good times get bad or bad times get better. Use your plan to assess whether or not your current circumstances (good or bad) are short-term or long-term.
Supporting Materials
Supporting materials are all the documents that can help convince readers of your business plan that your business is worth their time and/or money.
The documents should be introduced or referenced in the text of the previous sections so that they can stand alone in this section. These documents should need no introductory or explanatory text in this section and therefore can be simply arranged and attached to the final plan or offered as a separate document to serious investors or appropriate personnel.
As you go through the process of writing your business plan, you will think of a host of materials that can help you make the argument (to yourself, your management team, or potential lenders and investors) that your business is a good risk. These documents give credence to your arguments, and they back up your numbers. They help show how you came to your decisions and how you will make your plan work. As you prepare the plan, you should keep a notebook close by to jot down the supporting documents you reference in other sections or that you think you might want to include. Be sure you include every document that you mention in your plan. Don’t make your readers search for the information they need in order to make an informed decision (ideally, the positive decision you want them to make). Some of the support materials you should consider are these:
• Resumes. Ideally, resumes are one page and include work history, education, professional affiliations and honors, and special skills. Include resumes for all owners/partners and corporate officers (whatever applies to your corporate entity).
• Letters of reference. Your letters of reference can come from past investors, lenders, or business acquaintances (people you’ve worked for or with, suppliers, distributors, etc.) or from nonbusiness acquaintances (but avoid letters from friends or relatives) and should be assessments of your business skills.
• Personal finances. While some practitioners suggest including a balance sheet of your personal financial history as well as that of other owners/partners, I am not keen on it. Keep your personal information as private as possible.
• Leases. Include any lease agreements you have for your business (such as those for buildings, vehicles, equipment).
• Contracts. Include any contracts for your business (such as loans, purchase agreements, service contracts, even maintenance agreements).
Remember Joe’s 100,000-case gourmet mustard order? That type pe of business validation is well placed in this section.
• Other legal documents. Include any other pertinent legal documents, such as copyrights, patents, trademarks, insurance policies, and articles of incorporation.
• Other attachments. Include any other documents or information that you have referenced in the body of your plan but that do not fall into any of the above categories. These would include demographic information, maps, and the like.
Depending on your business and the information available, you might also consider attaching:
• Glossary of industry terms
• Product information
• Additional or more specific marketing data
• Marketing materials (brochures, catalogs, etc.)
• Financial analyst reports
• Newspaper or magazine articles
• Company history
• Press releases
• Web pages
Not all plans will need the same information. Those written for management purposes will not need the resumes, letters of reference, or credit reports. Even plans written to attract funding will differ as different lenders or investors will want to see different information. It is best to prepare as much information as you can so that you can easily tailor copies of your plan for various readers and institutions. And please note that the plan found in the appendix is a somewhat abbreviated version for reasons of space. Your plan may have much greater detail.
Scott was clueless when it came to financials and forecasting. Scott knew how to make money at his video production studio, but keeping it was another matter. He was considered one of the best studios in town for video, audio, and mixing. He even produced quality still photography shots from videos for publicity purposes. But Scott sensed he was slipping. He grudgingly knew he needed to expand his operations to keep up with the market. But he was having so much trouble tracking his money, how could he? He was overwhelmed when it came to accounting and bookkeeping and finances in general.
Then one day, two things happened that dramatically changed his course. First, he lost a significant job to a company he considered to be a lesser production house. When he called to find out why he had lost the work, Scott learned that his lowly competitor had expanded its services offered and had upgraded all of its equipment. It could now produce a higher-quality video at a lower cost. Second, several employee checks had bounced. The employees were not happy. Their NSF payroll checks caused a cascade of late fees and penalties on mortgage, credit card, and other payments. One employee quit over it. Scott’s valued assistant warned him that such a thing could never happen again.
That was it for Scott. He knew he had to get a handle on his books and then prepare a business plan so he could catch up with the competition. He asked his lawyer for advice on how to proceed. The attorney gave him the name of a consultant who had helped out another client recently.
Shortly thereafter, the consultant, Ron, visited Scott at his studio. He listened to Scott talk of his frustrations with his accounting and his need for a bank loan to acquire new equipment to keep up with his competitors. Scott was very worried he could never get a bank loan because he didn’t have the systems in place to prove that he’d ever be able to repay a loan. At this moment, he wasn’t even sure whether he could repay a loan or not.
Ron told Scott not to worry. There were plenty of entrepreneurs in his
they’d been able to pull it together, obtain
exact situation. With a little help,
a bank loan, and thrive. He would, too.
That was fine, Scott said. But the accounting had become such a problem that he had developed a mental block to it all. When he heard all the financial terms, he just tuned them out. He was stressed that he could never comprehend it well enough to talk to a banker.
Ron had the solution to Scott’s mental block. They would go through the four main accounting reports and relate them to Scott’s business. This way when Scott heard the term, he could equate it to an aspect of his business and be able to talk about it. Scott agreed to give it a try. Ron identified the four main reports they would be discussing as income statement, cash flow statement, balance sheet, and break-even analysis.
Ron could sense Scott’s frustration at the mere mention of these terms. So he asked Scott a production question: “What is a snapshot?” After several questions as to why this was relevant to anything at all, Ron got Scott to answer that a snapshot, as in a photograph, is an image in time. Ron then told Scott that was also what an income statement is: a snapshot of your business at one point in time. If an income statement is prepared on June 30, then like a photograph taken on June 30, it will show you if you are making any money as of June 30. Scott slowly nodded.
Ron also pointed out that in an income statement you bring all of your revenue from sales and other sources into the picture, take out all of your costs, and end up with a snapshot of net income. This is your photo of the amount of profit or loss you have on, for example, June 30.
Ron went on to say that income statements are also called earning statements or profit and loss statements (P&Ls) and that they all provide the same thing: a snapshot of the business on a fixed date in time.
Scott said he was getting the picture, so to speak. Ron laughed and said next was the cash flow statement.
A cash flow statement is movement, he said. It shows where the money comes from and where it goes. It is different from an income statement, which takes a still picture of sales and profits. Instead. Ron said, the cash flow statement tells you where the cash comes from, how it is being used in the company, and how it is going out of the company. There is movement to a cash flow statement, Ron explained. It is a video. Scott’s eyes lit up. He could visualize the movement.
Ron went on to explain there are two parts to this video. One is called the sources of funds, which tracks not only sales but also loans, line of credit drawdowns, and equity investments from investors. It records the movement of money into the company. Part two of the video shows the uses of funds—the movement of money within the company. This includes the cost of goods sold, administrative expenses, loan and interest payments, equipment purchases, and dividends or draws paid to the owners.
The result of this movement of cash into the company, around the company, and out of the company is called the net change in cash. It is the difference between total funds in and total funds out.
Ron noted that a happy ending to this video would show a positive number and an upward trend. Scott said he was on the edge of his chair to see how his cash flow video ended. Ron agreed but reminded Scott that the cash flow statement doesn’t have a finite end. Instead, it is a measuring tool, a means for improving performance over time. A never-ending video. Scott liked that idea.
A balance sheet was the third report he needed to understand. This matches your assets (the things you own) with your liabilities (the items you owe on). The result is your total assets.
Scott didn’t see how this related to video production. Ron asked him to think about a mixing job, where you lay the audio (the sound) with the video Ron said this was how Scott should remember a balance sheet: the mix of audio and video into one valuable asset. Or, in accounting terms, the mix of assets with liabilities to equal net worth. Scott saw it, and Ron went on to clarify that just as an income statement is a snapshot of the business, and a cash flow statement is the movement of money, a balance sheet is used to get at the owner’s equity or net worth of the business.
The key element of the balance sheet is that it has to balance. In video terms, it can’t look like the English translation of a Japanese movie where the spoken words don’t match the movement of the actor’s lips. Instead, the assets on one side and the liabilities on the other side have to be equal and have to balance.
Ron noted that if you had more assets than liabilities (and hopefully he did), the difference was the net worth of the business. By tracking this regu- larly, you could see if you were getting richer or poorer. Scott understood, and Ron moved on to the break-even analysis.
Ron guessed that Scott, like almost every other video guy he’d ever met, would love to someday make a big-budget Hollywood movie. When Ron asked the question, Scott perked up at the thought. Ron then explained that break-even analysis is like opening night. The movie has been made. Now, how many tickets do you have to sell to break even? Scott understood but asked about the distributors and movie houses. TheN, got a cut of every ticket sold.
Ron explained that was factored into the equation. With a movie, you know on opening night what the fixed costs to make it were. And you know how much the distributor took out of each ticket—for example, 60 percent. Similarly, in a business you have fixed costs such as rent, insurance, and office costs each month, and you have an average gross profit margin on each sale.
Continuing with the movie example, suppose it cost $1 million to make a low-budget thriller. That was the fixed cost. The distributor and movie houses were going to keep 60 percent of each $7 ticket sold. Your gross profit margin was 40 percent. By T dividing the $1 million film cost by the 40 percent you get from each ticket, you learn that you need to sell $2.5 million in tickets to bring in the $1 million needed to break even. Scott clearly understood this and began talking about a script he’d been working on with a friend. Ron brought him back to reality
Just as you had opening night for a film, you have the first of the month for your business. You know what your rent and other fixed expenses are. From there, you have to figure how many things—be it tickets, products, or services—you would have to sell and at what percentage of profit to break even for the month.
Ron got Scott to focus on his own business. With rent and all the other fixed expenses, it cost him $12,000 a month to keep the doors open. A video production job, after paying for film and supplies, netted him 50% percent of the monies paid by the client. So, using the break-even equation, Ron told Scott that he needed to bring in $24,000 a month just to break even.
Scott shook his head. There were some months when he came nowhere near that amount. Ron said he needed this tool for bidding on jobs and taking on new business. You needed to know where you were every month, and you had to hold your margins to reach your break-even point before moving into profitability.
Ron summarized the discussion by writing it down on a piece of paper for Scott to remember:
Accounting Term Production Term Answers the question
Income statement Snapshot Am I making money?
Cash flow statement Video Where did the money move?
Balance sheet Audio/video mix What is this worth?
Break-even analysis Opening night When do I start making money?
Scott appreciated the assistance. His mental block was removed. With Ron’s help, the financials were brought into order, reasonable income projections were crafted, and a bank loan was obtained. Scott went on to profitability and eventually made his movie.
The Importance of Forecasts
Bankers and investors will be looking at your plan to see if your business is a good risk. In other words, will your business income allow for timely repayment of borrowed money? One of the ways this risk is analyzed is by reviewing your income projections, which is also known as a pro forma profit and loss forecast. Your income projections report is based on the other four reports we’ve just discussed. If you are a start-up and don’t have a prior history, you’ll be making all five reports up out of thin air. In which case we must favor reality over creativity.
The income projection is a way for bankers and/or investors to get an idea of what the near future (usually three years, seldom more than five) will hold in terms of income and expenses based on reasonable assumptions of costs and sales. Your assumptions should be based on prior experience and real-world numbers. Don’t try to predict the future with a cracked crystal ball, Be realistic.
Obviously, a three-year income projection is a pro forma statement and must be backed up by sound reasoning and expertise—both of which you should have after all your research on industry standards and trends. If you are basing your projections on past performance, be clear about it. But don’t just take last year’s numbers and shove them into next year’s projec-
tions. ections. Be sure to take into account changes in the industry, the economy
marketing, competition, efficiency, costs, and the like. If you are basing projections on standards and trends, state where you got your information. Again, be realistic. The people you’ll be dealing with will know when you’re blowing smoke.
Whereas the cash flow statement records the movement of all cash going in and all cash going out, the income projection looks only at income and deductible expenses. But all parts of your business plan build on each other. The cash flow statement will contain some of the information you need for income projection.
Forecasting Timelines
The timeline for an income projection can vary depending on how you are using the plan and what you want to accomplish. Three to five years is the average. But remember that the art of prognostication blurs with distance. Three years is certainly a reasonable timeline because it gives a glimpse of the future without risking too much inaccuracy. But note that different funding entities may prefer other timelines. Don’t be put off if someone asks for five years and you’ve only got three. If you want their money, go back and do five.
As with the overall timeline, the time breakdown of your forecast can vary as well. If you are preparing your plan for management purposes, you may want to show your projections by year. If you are preparing your plan to attract funding, projections by month may work well. But different entities have different preferences, so it is a good idea to check with your target entities ahead of time to find out how they would like your financials laid out.
The basic categories for an income projection are the same as those for the income statement:
Income
Net Sales [account for returns, allowances, and markdowns] Cost of Sales [such as inventory, purchases, and cost of goods available for sale]
Gross Profit [Cost of Sales subtracted from Net Sales] Expenses
Variable [such as advertising, professional fees, packaging costs, freight, supplies and parts, payroll—including overtime and benefits—repair and maintenance, travel]
Fixed [such as rent, leases, utilities, loan repayment and interest, insurance, depreciation of capital assets, workers' compensation, taxes and licenses, and office salaries]
Total
Income from Operations [Expenses subtracted from Gross Profit] Other Income (such as interest income)
Other Expenses
Net Profit or Loss Before Taxes
Taxes [such as sales, real estate, income, inventory, and excise] Net Profit or Loss After Income Taxes • If you want to take the exercise one step further, include a column for industry standards so that anyone reading your plan can quickly see how your company stacks up against industry averages.
• As time goes on, you can compare your projections to your real income and expenses and adjust accordingly. Even projections are a good management tool.
• Financial projections require a high level of financial literacy. If you don’t have great expertise, use the creation of your financial projections as a learning experience and hire a CPA or accountant who will teach you the fundamentals of the statements while you prepare them together.
• There are several user friendly accounting programs for small businesses that are great resources for both the financially astute as well as the new business owner. Research the Internet for what others have to say about affordable software such as QuickBooks from Intuit.
Forecasting
Forecasting numbers for the future should not be an exercise in wishful thinking. Rather, your forecasts should be based on realistic expectations and real-world experience. However, not all that experience needs to come from you. If you are a brand-new business owner, it is a good idea to talk to others or even hire some professionals to help you get the numbers right. If you are an owner of an existing business, try including your managers and department heads in planning for the future. This is called bottom-up forecasting.
Bottom-up forecasting uses the knowledge of the front lines to predict as accurately as possible the future needs of your business. Managers and department heads can plan ahead for the needs of their teams and give the data to you to approve and compile. These front liners know what equipment will need to be replaced next year, what positions will need to be added, and how many training programs need to be added. Your sales team should have a good idea as to where sales are going and what trends might change the path you are currently on, and the like. Each manager or department head can look at the next few years month by month and come up with a realistic forecast. You can add all those forecasts together to prepare a picture of the future of your business as a whole. Of course, your front liners cannot accurately predict everything that will be needed in the coming three years, but they might have insights you don’t.
Top-down forecasting is planning for the future with the end in mind. It starts with your goals for three years out and backtracks the steps it will take to get there. You start with the big picture—the industry—and your goals within it. With your market share goal, you can figure your projected revenue. From there, you work your way down the table, filling in exact numbers where you can and making your best predictions where you can’t. Still, these are not guesses. Even the advertising section (one of the most variable sections of your projection) can be worked out logically. You know where you stand with the competition and the industry norms. So you know if you will need to spend more or less than the norm in order to increase your piece of the pie. How much more is a little murkier, but your marketing section analysis should be able to guide you.
Top-down forecasting allows you to work your goals into your company’s expectations of the future. It also allows for some spin, but keep it real.
Now to drive home the financials and forecasting of financials, we’re going to review the four reports again and look at some new beneficial ratios to use. If you feel like you’ve had enough of all the numbers, feel free to go on to the next chapter.
Cash Flow Statement: Cash Is King!
Money comes in; money goes out. The difference between the two is your profit or loss. Put it all on paper along with a timeline, and you have a basic cash flow statement (or budget). This means you put down how much money you expect from whom (by category—sales, loans, etc.) and when (by date, week, month, or quarter), and how much money you will need to pay out (bills, debts, and expenses) to whom and when,
In Rich Dad’s Guide to Investing, Robert Kyosaki and Sharon Lechter wrote: “Cash flow management is a fundamental and essential skill if a person truly wants to be successful in the B quadrant. Many small business owners fail because they do not know the difference between profit and cash flow.”If preparation of the report seems daunting, try breaking it down into easily digestible pieces. Create separate budgets for revenues (real and/or projected), cost of sales, fixed expenses, and variable expenses. You may also want to create a table of all your sources of incoming cash as well as one for all outgoing cash. You don’t have to include all this information in your plan (the table may contain detail better left under wraps). Then you can use these tables to figure out where the money is going to come from to pay the bills each month if cash in and cash out don’t exactly coincide. And there’s your timeline.
Your table or spreadsheet for cash flowing into your business can include categories such as:
• Amount of cash you have available for the business
• Sale revenues (broken out by sales, service, accounts receivable, collections, and deposits)
• Interest income
• Any sales of long-term assets
• Liabilities (such as loans)
• Equity (such as owner investments, sales of stock, or venture capital)
Your table or spreadsheet for cash flowing out of your business can include categories such as:
• Start-up costs (including business licenses)
• Inventory purchases
• Controllable expenses (such as freight, packaging, and advertising)
• Fixed expenses (such as rent, utilities, and insurance)
• Long-term purchase assets
• Liabilities (such as paying back Loans)
• Owner equity (money you take out as an owner)
You can prepare a statement for any stretch of time you want, but remember that the further out you project, the more you risk losing accuracy. It is best to stick to one fiscal year, beginning with the start of the current fiscal year and stepping month to month to the end of that same fiscal year. To improve accuracy, keep revising the statement (monthly is ideal) to reflect reality, and your ever-increasing expertise.
The timeline will help you plan for the time lag often involved with collection of receivables and will allow you to time collections so that you are not caught short when bills come due. For example, your office supply store likely experiences an influx of cash during August and September because of the back-to-school frenzy. your big bills may come significantly later in the year. Plan accordingly.
The cash flow statement (like most budgets) only includes real money (cash in, cash out). It does not include noncash transactions (such as amortization or depreciation).
The traditional format of a cash flow statement has the total for the year and the subtotals for each month in thirteen columns (vertical) with column labels across the top. The rows (horizontal) show the beginning balance and the amount of cash in and cash out by source, with the sources listed on the far left. The table (or spreadsheet) will be easier to understand if you break categories into subcategories when you can. Here is an example of a detailed cash flow statement:
Total [this row is the total for each category by column] Beginning Cash Balance [enter under month 1]
Cash Receipts
Sales Revenues
Cash Sales
Receivables
Sale of Long-Term Assets
Interest Income
Total Cash Available [add the Beginning Cash Balance to all Cash Receipts]
Cash Payments Cost of Sales Material
Labor
Purchases
Controllable Expenses
Supplies
Salaries
Freight
Packaging
Advertising
Miscellaneous Fixed Expenses Rent/Lease
Utilities
Office Salaries Licenses/Permits Insurance
Advertising
Miscellaneous Loan Payments Interest Payments Long-Term Asset Payments
Taxes
Federal Income Tax
Other Taxes Owner Draws
Total Cash Paid Out [add Cost of Sales, Controllable Expenses, Fixed Expenses, Loan Payments, Interest Payments, Long-Term Asset Payments, Taxes, and Owner Draws]
Balance [subtract Total Cash Paid Out from Total Cash Available; put negatives in brackets]
Incoming Loans [loan money coming in]
Equity Deposits [deposits to be made]
Ending Balance [add the numbers for each month; this number should be the same as the total for month 12]
An example of a pro forma cash flow statement is found in the appendix; the following is an example of a simplified Cash Flow Statement:
f you don’t, or if you find it difficult to prepare a reasonable projection, you may want to rethink your other sections and go back to researching.
Balance Sheets
A balance sheet (also known as a statement of financial position) is a balance of your company’s finances. It presents data on assets, liabilities, and net worth. Assets are anything of monetary value owned by the business. Liabilities are company debts. Net worth is capital—the worth of your equity as owner. When you add liabilities and net worth, you get a total for assets. Generally accepted accounting principles link these three factors because of their mathematical relationship. A positive net worth means assets outweigh liabilities; a negative net worth means liabilities outweigh assets.
No matter the business, no matter the use, balance sheets share the same format. All professionals expect this format. Anyone can read them and easily compare one to another. Due to the ease of interpretation of this format, balance sheets are relatively simple to create.
Assets are anything of value owned by or legally due to the company and fall into four categories:
1. Current: those that can be converted to cash within a year (such as cash, checking and savings accounts, accounts receivable, short-term investments, prepaid expenses, and inventory from raw materials to finished products)
2. Long-term: investments such as stocks, bonds, and special savings accounts to be kept for at least a year
3. Fixed: resources not meant for resale (such as land, buildings, improvements, equipment, vehicles, and furniture)
4. Other: assorted assets that typically are unique to a business’s circumstances.
Liabilities fall into two categories:
1. Current: payable within one operating cycle (such as notes, taxes, interest, payroll accrual, and accounts payable)
2. Long-term: mortgages, vehicles, notes, and the like (take the current payment due subtracted from the remaining balance)
Net worth or owner equity is given according to the legal structure of your business. Corporations use the total invested by owners or stockholders added to retained earnings (after dividends are paid). Partnerships, LLC’s, and sole proprietorships use the original investment of owners added to earnings after withdrawals.
A sample projected balance sheet is round in the appendix.
Balance sheets should be prepared on a regular basis, not just when you are preparing a business plan. The balance sheet can help you ou spot trends and plug cash leaks before they sink your company.
If you are preparing your plan fora new business, you might want to include a balance sheet of your personal finances instead of a business balance sheet, to show your ability to handle money. Then again, you might not want to do so, in order to show that you value your privacy.
Income Statement
The income statement (also known as a profit and loss statement or statement of operations) reveals your business profitability at a set point in time. What your business has spent (and what it was spent on) is combined with what your business has brought in (and from where) to tell you whether you made money or not.
Preparation of the income statement is best done on a monthly as well as yearly basis. You really don’t want to wait a year to see if you are making money. The data for your income statement should be readily available from your company records.
Again, there is a standard, expected format for your financial data. The income statement should include:
Income
Net Sales [returns and allowances subtracted from gross sales] Cost of Goods Sold
Gross Profit [Cost of Goods Sold subtracted from Net Sales]
Other Expenses
Direct, controllable, variable [those associated with sales]
Indirect, fixed, office, overhead [those associated with administration] Other
Net Profit/Loss Before Income Taxes
Income Taxes
Net Profit/Loss After Income Taxes
A sample of a detailed income statement is shown on page 147. Here is an example of a simplified income statement:
Income Statement for 2008
Gross Sales
Cost of Goods Sold Gross Profit
Expenses
Net Profit Before Taxes Taxes
Net Profit/Loss
The income statement can help you track the effectiveness of ,your plans by showing how expenses and sales are affecting profits or losses. It will also help you plan for variations in sales volumes from month to month. Though you only need one year’s worth of info for the business plan, a comparison of income statements over a period of years can help you see longer-term trends and therefore can help you plan accordingly. Break-Even Analysis
As discussed, a break-even analysis answers the question of how much your business will need to sell in order to cover its costs. For example, if you sell copy machines, the break-even analysis enables you to figure out exactly how many copiers you need to sell in order to pay all your bills. Add one more copier to the mix and you suddenly see profit.
The analysis is a good one for entrepreneurs because it encourages an in-depth understanding of costs. The analysis is a good one for lenders and investors because it says a lot about whether or not you, as writer of the plan, are realistic in your assumptions.
The break-even point is the dream of any entrepreneur. It is that point at which you can start to breathe a little easier. It is the point when you start to think maybe going into business for yourself was a good decision. It is the beginning of stability. It is the point too many businesses never reach. But numerically, it is the point at which your fixed and variable expenses (including cost of sales) are met by your product and/or service sales. You won’t be making a profit, but you will no longer be taking a loss either.
You can display this point in a number of ways in your business plan. In either graph h or table form, you can show dollars of expense compared to dollars of revenue or even dollars of expense compared to units of production (in either products or services). Your income projection can be the source for either way of showing the information.
If you decide to use a mathematical presentation, you can find the exact break-even point with a simple formula:
break-even = fixed expenses + (1 – variable expenses/sales) come that increases as sales increase, your revenue line will be drawn at a forty-five-degree angle on the chart. The point at which your revenue line and your total cost line meet is marked as your break-even point.
Break Even Analysis Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7
Sales 20000 22000 24000 26000 280000 30000 32000
Variable Costs 12000 13000 14000 14000 150000 16000 17000
Fixed Costs 10000 10000 10000 10000 100000 10000 10000
Fixed + Variable Costs 22000 23000 24000 24000 250000 26000 27000
Net –2000 –1000 0 2000 3000 4000 5000
Because the graphic presentation is such a great way to express complicated data for a visually focused society and the numerical presentation is so great for bankers and other number-focused types, you may choose to present Your data in both formats (might as well cover your bases) or pick and choose and customize for your particular audience.
Ratios
When potential investors begin their task of analyzing your business for risk and feasibility, they bring experience and expertise to bear on your business plan. It’s not simply a matter of whether or not they like your idea or whether or not they have the money to give. Nor is it a matter of how personally persuasive you are. What it comes down to is whether or not they think your business proposal, as presented in your business plan, is feasible. In other words, can your business make money?
40000
30000
Costs 20000
10000
0
(sales) Break-Even
(variable costs)
(fixed cost)
Sales Over Time
To create your own break-even diagram, you must first plot your fixed costs and variable costs. Label your vertical axis as costs (in dollars). Then label the horizontal axis as sales (in dollars). Your fixed costs will form a straight horizontal line across the graph because your fixed costs will stay constant even as your sales increase. Your variable costs line will increase as sales increase. The line formed by plotting variable costs on top of fixed costs will create your total cost line. Now you must add your revenue. Because revenue is in-come that increases as sales increase, your revenue line will be drawn at a forty-five-degree angle on the chart. The point at which your revenue line and your total cost line meet is marked as your break-even point.
Break Even Analysis Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7
Sales 20000 22000 24000 26000 280000 30000 32000
Variable Costs 12000 13000 14000 14000 150000 16000 17000
Fixed Costs 10000 10000 10000 10000 100000 10000 10000
Fixed + Variable Costs 22000 23000 24000 24000 250000 26000 27000
Net –2000 –1000 0 2000 3000 4000 5000
Because the graphic presentation is such a great way to express complicated data for a visually focused society and the numerical presentation is so great for bankers and other number-focused types, you may choose to present Your data in both formats (might as well cover your bases) or pick and choose and customize for your particular audience.
Ratios
When potential investors begin their task of analyzing your business for risk and feasibility, they bring experience and expertise to bear on your business plan. It’s not simply a matter of whether or not they like your idea or whether or not they have the money to give. Nor is it a matter of how personally persuasive you are. What it comes down to is whether or not they think your business proposal, as presented in your business plan, is feasible. In other words, can your business make money?
40000
30000
Costs 20000
10000
0
(sales) Break-Even
(variable costs)
(fixed cost)
Sales Over Time
One of the ways experienced financial decision makers make their decisions is through the analysis of ratios. just as the term implies, ratio analysis involves taking numbers from the financial tables and comparing one to another. Which numbers are chosen and how they are combined tell a lot about different aspects of the business under scrutiny.
Most ratios are not analyzed in a vacuum either. Ratios are commonly compared to one another in a historical, competitive, and/or budgetary context. By comparing current figures with those of the past, decision makers can get a feeling for mobility and trends within the company. By comparing figures for one company to those of competing companies, decision makers can get a feeling for where the company stands in the competitive hierarchy of its industry By comparing real figures to budgeted figures, decision makers can see how well you have budgeted. This last comparison usually comes into play after funding has been granted. It is a good way for investors to stay on top of a company’s promises. It is also a great way for you or your management team to learn to refine your budgeting abilities.
Knowledge of ratios on your part is akin to learning to speak the language of potential investors. It gives you a chance to see what impressions your financials will make on decision makers. It alsoives you a valuable management
tool. By tracking your ratios, you can spot trends, strengths, weaknesses, and potential roadblocks. Following are some of the most commonly used ratios.
Liquidity Ratios
The current ratio and the quick ratio are two examples of liquidity ratios. The current ratio is used to determine liquidity of an existing business by dividing current assets by current liabilities. If the current ratio is greater than 1.0, then the business has a chance of being able to pay its short-term bills. The larger the number, the better the chance of paying the bills. If that number is less than 1.0, the business may be in rough water. However, decision makers will also take into account industry norms. If a ratio of 4.0 is the average for an industry, that current ratio of 1.0 is not nearly as good as it would be in an industry with an average of, say, 1.5.
The quick ratio (also called the acid test) is a measurement of liquidity without inventory being calculated in. It is current assets (not including inventory) divided by current liabilities. Comparing the quick ratio to the cur-rent ratio gives decision makers an idea of how dependent liquidity is upon inventory.
Debt Management Ratios
Debt management ratios include the debt ratio and the times interest earned ratio (TIE). The debt ratio is a measure of risk in that it shows how well the company’s assets support its monetary obligations. The debt ratio is found by dividing total debt (including long-term debt, short-term debt, and current liabilities) by total assets. A high debt ratio means high risk to potential investors.
The TIE measures how well earnings cover interest and can be found by dividing earnings before interest and taxes by interest. The higher the number, the more times earnings can cover interest, thus the safer the investment.
Asset Management Ratios
Inventory turnover and average collection period (ACP) are both examples of asset management ratios. The inventory turnover ratio measures how often your company gets rid of and restocks an average-sized inventory It is measured by dividing costs of goods sold by inventory. A higher number is better because higher numbers mean you are more quickly going through your inventory. This means fewer of your business dollars are tied up in inventory. Inventory can cost you in storage, taxes, insurance, and interest as well as time. Inventory and time are not friends. As time passes, inventory can become outdated, unpopular, or even unsafe.
ACP measures how long it takes to collect on sales on credit. When you sell on credit, there will be a lag time. That lag time is measured by the ACP
9 by
(also known as days sales outstanding and the receivables cycle) and is found by dividing accounts receivable by sales and multiplying the total by 360. Obviously, you want that number to be as small as possible. Ideally you want it as close to your company’s terms of sale as you can get it. If the number exceeds your terms of sale significantly T (greater than 30 percent is usually a problem), you show that you are not being as strict with your credit choices as you should be or there is significant customer dissatisfaction. Neither is going to endear you to potential investors. While you may have most
T very
of your receivables paid promptly, a few very old accounts can skew this ra-tio. Take into account the odds of ever getting payment from those very old accounts and decide whether or not to write them off.
Profitability Ratios
Profitability ratios include return on sales (ROS), return on assets (ROA), and return on equity (ROE). The ROS ratio is the most basic measurement of profitability and says something about how well you can keep down costs and expenses. Divide net income by sales and, voila, you have profitability (at least on paper).
The ROA ratio similarly says something about how well you use invested assets and is found by dividing net income by total assets.
The ROE ratio builds on the ROA by taking leverage into account and is found by dividing net income by equity. Debt affects ROA and ROE in that the two will be close if debt is small. But when debt grows large, ROE is higher than ROA when the company is doing well and lower when the company is doing poorly.
Financial History/Loan Application
A good indicator of where you’re going in business is where you’ve been. One of the best ways to reassure investors of future success is through showing past success. If you are writing your plan for an existing business, you will include information on your business from start-up to present. Put this first in the financials section; it is your loan application. But prepare it last. Preparation of all the other financial documents will greatly help you in preparation of the financial history.
Even if you are not preparing your plan for investment purposes, this exercise will help in your management practices by helping you look at your business from a big-picture perspective.
The financial history subsection is a summary. Summarize the data from the other sections and reference those sections accordingly. The following are some of the categories usually summarized in this section:
Assets
Liabilities Net worth
Contingent liabilities
Inventory detail
Revenues Expenses
Real estate holdings
Stocks
Bonds
Legal structure
Insurance
Audit information
If you are writing your plan for a new business, you may want to include information on your personal financial history and status, including a personal finance balance sheet with information on assets (cash, life insurance cash value, trust deeds, personal property, mortgages, real estate, stocks, bonds, mutual funds, accounts receivable, notes receivable), liabilities (unsecured loans, credit card debt, revolving credit debt, notes and deeds, loans secured by personal property, loans against life insurance), net worth, annual income, and annual living expenses. This information will help potential investors see how well you handle money. But remember also that in this era of identity theft, the less information you give out the better.
Keep in mind that the personal financial history combined with the information you include in your loan application (provided by institutions upon request) needs to be verifiable and accurate, just as it would if you were providing information on an existing business’s financial history.
Uses of Funds
It would be nice if your promise to pay someone back was all it took to get funding for your business. It would be nice if there were institutions or individuals who would write you a blank check to pursue your dreams. But it’s not likely. Most institutions and individuals want to know exactly what you plan on doing with their money. And keep that straight: It is their money.
The best place to start with how you will use the funds you are requesting (if that is the purpose of the plan) is to provide a summary of your business’s financial needs. If you are preparing the plan for management purposes only, you will want to skip this section.
The summary of financial needs and the uses of funds can both be short and to the point. An example is found in the appendix. The summary is a simple statement of what you need. Working capital, growth capital, and equity capital are the three broad categories of funds. The main difference between the three is in how quickly you will be expected to repay the money. Working capital loans are usually for only a year, growth capital loans are for a few years (usually no more than seven), and equity capital is usually repaid through a stake in the business (which means the payback could be slow in coming, but it may continue to pay over the long haul above and beyond the initial investment),
Be specific as to what you need the funds for. Are you looking for a loan to buy equipment or pay for training? Are you looking for an investor to take on a significant portion of start-up costs?
Also be specific as to how much you need and how it will be disbursed. If you are buying equipment, for example, list how much that equipment will cost, along with the exact make and model. If you are investing in training, list how much it will cost, how long it will take, and who will be doing the training. Give the details it will take for a lender to determine whether or not the investment will increase profit. In fact, if you have data on how profit will be increased (and you should), include that in this section as well.
Assumptions
Not even numbers are concrete in today’s world. There is always a bias, whether conscious or not. The purpose of the assumptions subsection is to explain to readers how you chose your numbers. It is the section readers turn to in order to interpret the biases of the preparer. Assumptions answer the all-important question “Why?” Why did you decide, for example, that you could double your sales in two years? If readers don’t know your reasoning, they cannot make an educated decision as to the validity of your numbers. Your assumptions are yet another chance to convince your readers.
If you are preparing your business plan in order to attract investment, you definitely need this section. If you are preparing your plan for manage-meet purposes, you might leave it out if it’s only for your own use. However, if the plan will be used by others or if you are preparing it for the edification of others in your business, you might want to keep it in. With your assumptions in mind, others within your company are better able to meet goals because they know what is behind those goals. For example, if your income projection states that you plan to double your sales within two years, it would be nice for your sales staff to know how you think that is possible. Is there new technology in the offing? Is a piece of proprietary information finally snaking its way through the approval process? Do you plan an expansion? All good information for your staff to know
As for format, some plans include the assumptions as footnotes at the bottom of each of the financial tables, some include them as a separate page within each table’s subsection, and yet others have one separate subsection devoted to explaining all the assumptions that went into all the financials. Choose the format that works best for your business.
Don’t get lazy with this subsection and never assume that any of the numbers are self-explanatory. Discussions about your plan may occur months after you have prepared your numbers, and you might actually forget why, for example, you thought you could double sales within two years. Don’t get stuck fumbling for explanations in a loan or investment meeting. If the assumptions are on paper, you can refer to them. If they aren’t, you could end up losing the trust of those whose money you are trying to obtain. Why risk it?
• As final points on the financials, know that your investors want to see how much “skin in the game” you have. Keep your salaries as low as possible to show that you are investing “sweat equity”
• Also know that your investors will want your overhead kept low. They want to see their money spent on the business, not on the office surroundings.
