Mr. BRADFORD said :-On assuming this chair, which has been occupied by so many gentlemen of conspicuous ability; my first words must be an expression of the gratitude I feel for the honour you have done me in electing me to be your President for this year.When considering the subject matter of this address to you to-night, quite frankly may it be stated that for a long time I was on the horns of a very great dilemma, for while I could discourse on the modern political trend in relation to our industries at great length, it appeared to me that this was not the place for such a discussion. Next I turned to a consideration of whether a discourse on the theory and practice of iron and steel would be of interest.I, however, banished this idea also from my mind, because it appeared to me that you have already had a surfeit of this on your visits of inspection to our local industries and I did not want in any way to be held responsible for the iron entering into your souls! I therefore propose, with your kind consideration, to address you on other subjects of common and vital interest to all.My first words and thoughts turn on the absolute necessity of eliminating waste in our methods. If we are to succeed in our...