The daily morning journal and courier., 1902-03-27

Continued from First Page)
 have carried out the scheme or hotel
 project, as has been laid before us by
 the committee. We have every reason
 to believe that a large hotel under proper management, will pay handsome
 returns to the investors, and be a good
 investment generally
 We therefore most heartily endorse
 the hotel project as laid before us, and hope our committee will be able to sue cessfully carry it through.
 l The report of the new enterprise com mittee was as follows: This committee feels that it has been very fortunate in 1 it's work during the past year, in that | it has located two large concerns in the city of New Haven. Through it's efforts the New England Prepared Food com 1 pany has located here with a capital stock of $1OO0, 900, $10O,00O of which is 6 per cent preferred stock. Your commit tee was able to induce New Haven peo- pie to subscribe to the extent of s26,000 to the preferred stock, and this was the means of locating the company in New Haven. Since their locating here and erecting factory which has cost in the
 
 has changed hands, and the money paid in by New Haven subscribers has been returned to them. It is readily seen, therefore that we secured the indus try without its having cost New Haven people single dollar.
 The other business or concern to To- cate in New Haven is that of the Hou- satonic company of Wallingford, Conn. This company has purchased a site, but have not yet erected it's plant. They expect to do so. however, within a very short time. The Housatonic company has a capital stock of $150,000 all paid in and some of the very best men and largest manufacturers of the state are interested in this concern. Your com mittee induced them to locate in New Haven through an agreement made by it with New Haven people to float $50- GOO in per cent. first mortgage bonds We were fortunate in being able to get a number of gentlemen to underwrite these bonds and the bonds will be of fered to the public and be placed upon the market at very early date.
 This committee also begs to report that it is now in correspondence and IdS lldu StNtldl lilttllISS Nilu lHt cap italists and promoters (whose names we will not mention) residing outside of the city of New Haven, in reference to building one of the largest modern ho- tels in New England. The plans, plac ed before you are furnished as intro ductory plans to show what Is possible to be done They may be changed in many ways before the deal is consum- mated, and this new and modern hotel shall assume the importance it is ack- nowledeed by all to be entitled to-
 It is generally conceded that nothing will do more for New Haven's welfare than a first class modern hotel If the Chamber agrees with it's committee in this respect we think it would be well to draft resolutions endorsing the ac- ton of the new enterprise committee in this matter.
 While it may not be possible to bring to a head and conclusion the hotel scheme as outlined, we feel that some | thing must inevitably come out of 1t | for the general good and interest of our 1 city.
 We beg in conclusion to say that we | are in close touch with the promoters | of this scheme and are having meetings l with them from time to time, and are | doing all within our power to bring | about the cOnsummat ton of the plans so | earnestly hoped for
 Finally we would report that we have several parties looking for factory sites | and we are doing all we can to induce 1 them to locate in our city. The outlook is more than favorable for our being successful with some of them.
 Respectfully submitted,
 New Enterprise Committees: R. S.
 Woodruff, Simeon J. Fox, N. w. Ken dall, James A. Howarth, F. H. Benton.
 Henry C. Rowe, chairman of the com mittee on harhor, made detailed and in ! teresting report of the work accomplished thus far in the matter of dredging New Haven harbor. He said that the remarka. hly low price of three cents per yard had been secured and that this was compliment tary to the business management of Major Leach, who had charge of tn work when the contract was made. There have been delays but notwithstanding | these 5S1. .46S yards were dredged during | the year 1901 and since the first of the year up to the present time enough more to bring the amount up to 1927 TAB wards. The estimated amount 10 be removed be 6 2sI,000 yards. It is also proposed in d bill which has just been favorably reported To the present congress that apppropria tions be made for the Improvement of Ouluni. ptac and Mill river to Grand ayenue and of the basin east of the Canal wharf If Is also the hope of the commmittee that provision may be made for the dredging of