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Although you can use a panel to make a status bar, it is simpler to use the TStatusBar component. By default, the status bar's Align property is set to alBottom, which takes care of both position and size.
If you only want to display one text string at a time in the status bar, set its SimplePanel property to True and use the SimpleText property to control the text displayed in the status bar.
You can also divide a status bar into several text areas, called panels. To create panels, edit the Panels property in the Object Inspector, setting each panel's Width, Alignment, and Text properties from the Panels editor. Each panel's Text property contains the text displayed in the panel.