New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1909-02-03
LAID TO LOCAL PREJUDICE
Sleepy Eye Milling Company's EN-.
barrassment Attributed to
Vindictive Spite.
Northwestern Miller Intimates
Certain Parties Will Have
Heavy Moral Account to
Settle.

Manager Won Hagen Discusses
Probability of Moving Plant
| to Minneapolis.
The Sleepy Eye Herald Dispatch of
this week makes its first reference to
the financial difficulties of the Sleepy
| Eye Milling Co.
| 1t admits that the liabilities are in
the neighborhood of 100000, but it
asserts with confidence that the assets
are more than double that amount.
1t also quotes from the Northwestern
| Miller statement to the effect that no
part of the milling company's proper
ty is encountered by mortgage and
that the proportion of assets to liabili-
ties is so great that the company, if its
business is properly managed and pre-
supposing that milling conditions will
be reasonably favorable, should be
| able to pay it's creditors in full.
In the list of assets, according to the
petition for the appointment of re-
ceiver, there are the mills and eleva-
tors at Sleepy Eye of a probable value
of more than $3.50, 900, line of eleva-
tors on the Chicago & Northwestern
road of a probable value of more than
S65, 900, houses in Sleepy Eye OF a prob
able value of $4,000 and merchandise
and accounts receivable of probable
value to exceed S150,00O.
Regarding the causes which led up
to the present difficulties the North
western Miller says:
1T is claimed by the management
of the mill that its troub les arise large
ly from local prejudice, which has
taken rather a vindictive shape and
has persistently circulated rumors to
the effect that the company was not in
sound condition, and that this has led
to pressure being brought upon it from
the outside.
IF this statement should prove cor
rect, those who are responsible may
have heavy moral account to settle
with their fellow citizens. The Sleepy
Eye milling plant has been the great
est factor in the welfare of that town,
which otherwise would have been prac-
tically unknown to the outside world
and as inconspicuous as any other
Minnesota village which has no mill.
'Not only has the fame of Sleepy Eye
-four made the place of its manufacture
internationally known, but the develop.
ment of the plant from small begin.
nings to its present size has given the
people of the town constant and we'll.
paid occupation, has added immensely
to the Importance of the place as q
shipping center and, in Short has beer
of the very greatest Importance to al
who lived in it. If petty jealousy has
resulted in giving the local enterprise
the blow which it has suffered, the
reckoning will be a serious one fol-
those who are responsible -
Concerning the future the Herald
Dispatch was authorized by Mr.. Vor
Hagen to say that he expected to con
tinue to be interested in the business
; even though Receiver Hull was in &C
tual control. His management of the
| mill, however, would be directed from
| Minneapolis instead of from the home
Office in Sleepy Eye. Asked whether
this meant that plans were on foot tc
j, eventually move the entire institution
to Minneapolis, Mr.. Won Hagen said
) sThe value of the mill itself, that is
: the actual real estate, Or the cost thai
: it would represent to move It to some
other point and put it into active oper
alton is very small as compared with
; the real value of the trade and good
will which represents twenty five years
of hard and conscientious work. JUS
: what the stockholders and parties il
, interest will decide we cannot at pres
emit say, but these matters Will I'M
doubleday be considered within thu
next two Or three months and some
definite plan of action decided upon
;, In the meantime, the business is to &c
on as usual with no interruption. Al
; bills contracted for in the future vii
/ be paid promptly, and all contract:
| for deliveries will be fulfilled withou
interruption.
i In the neighborhood Of twenty
gentlemen gathered at A. w Bing
hams home Thursday evening and
listened to highly interesting lecture
by DIR. Tomlinson of st. Peter on the
subject of Psychology or The
Study of the Mind. The doctor is a
thorough master OF his subject, and
his discourse, although dealing only
l. Al I