In August 1892 William Thomas Watts – the eldest son of one of the company's founders wrote – "Our business and Cotton Spinning is in a disastrous condition at present.One of the events of the year has been the big strike at The Stalybridge Cotton Mill, lasted about 7 months, and only settled by a universal stoppage of the spinning industries in the three Counties.From a statistical return published a few days ago it appears that 93 limited spinning firms taken together for the whole year 1984 have earned upon the whole of th Capital invested in the shape of Shares and Loans the magnificent result of 1 an 7/8% profit.In the recession of the 1930s, Platt Brothers, Howard and Bullough, Brooks and Doxey, Asa Lees, Dobson and Barlow, Joseph Hibbert, John Hetherington and Tweedales and Smalley merged to become Textile Machinery Makers Ltd. Taylor, Lang & Co. was the largest company outside this group, but was acquired in 1936.The founders were mechanics in Oldham, but worked in their spare time in a co-op grocery shop where they talked over the idea of applying the cooperative approach to engineering.Notice of the Situation of the Registered Office of Taylor, Lang & Co. Limited was provided as "The Castle Ironworks in Back Grosvenor Street in Stalybridge in the County of Cheshire."[12] Another, passed 14 September 1900 (confirmed 5 October), introduced a maximum of six and a minimum of four directors, alongside minor changes to the dating and wording of articles relating to the Annual General Meeting.A letter from Taylor, Lang & Co. to the Registrar of Joint Stock Companies, sent 27 February 1935, resolved a dispute over certain shares allotted in 1872 and 1887 on a non-monetary basis.This document also contains a certificate that reveals Taylor, Lang & Co. Limited had, "by Special Resolution reduced its capital by an Order in the High Court of Justice Chancery Division, Manchester District Registry, bearing date the 11th day of April, 1935.""[13] As the north-west's cotton industry experienced a severe decline during the recession of the 1930s, Platt Brothers, Howard and Bullough, Brooks and Doxey, Asa Lees, Dobson and Barlow, Joseph Hibbert, John Hetherington and Tweedales and Smalley merged to become Textile Machinery Makers Ltd. Taylor, Lang & Co. was the largest company outside this group, but was acquired in 1936.The son of Stalybridge blacksmith Radcliffe Buckley, Edward was born on Brierley Street in the Castle Hall area of the town, on 13 April 1838.His passion and eye for innovation and inventions resulted in a series of design improvements and labour-saving combinations, including the self-acting mule headstock.