It is a rare privilege to stand as we do at the meeting-point of the centuries, bidding a reluctant farewell to the old, while simultaneously we cry “All hail!” to the new; first looking back over the open book of the past, then straining eager eyes for a glimpse of the mysteries that the future holds hidden, and which are to be revealed only moment by moment, hour by hour, and day by day.

The nineteenth century, so preËminently one of progress in almost every line of mental and material activity, has witnessed a marvelous growth in the paper industry. It was in the early years of the century that crude old methods, with their meager machinery, began yielding to the pressure of advanced thought, and the development since has kept full pace with the flying years. The hundred years that have written the modern history of paper-making mark also the period during which the J.W. Butler Paper Company, or its immediate predecessors, have been associated with the industry in this country. It has therefore seemed to the present representatives of the company that the closing year of the century was an especially fitting time to put into story form the history of the wonderful and valuable product evolved almost wholly from seemingly useless materials, and they consider it their privilege, as well as the fulfillment of a pleasant obligation, to present this account to their friends and associates in the paper, printing, and auxiliary trades. We

but we feel confident that the incoming century will bring changes and improvements as wonderful as any the past has wrought, and we hope that it may be our good fortune to in some measure be instrumental in promoting whatever tends to a greater development of the industry with which our name has been so long associated.

J. W. Butler Paper Company.