The Sauk Centre herald., 1909-02-04
ANNUAL MEETING HELD
Old Board of Directors Is Reelected
With One ExCeption-25O
Shares Voting :.
REPORT OF DIRECTORS
Finances in Good Condition and
Two-thirds of the Machinery
Already Installed

Two hundred fifty shares were rep
resented at the first annual meeting
OF the stockholders of the Northwest
ern Radiator Company, held on Mon
day evening at the city hall. The re-
port of the directors and of the treas
urer were submitted and accepted and
a board of nine directors elected for
the coming year. The directors re-
port showed satisfactory and graft
flying condition of affairs, and the
stockholders present were well salts
fed with the progress that had been
made. The factory will be ready to
begin operations some time during
the present month:
]. F. Cooper, president of the Board
of Directors, presided, calling the
meeting to order shortly before eight
O'Clock. The report of the directors
was presented, read and accepted.
The report follows;
"Your Board of Directors would re-
port that the factory is about COM
pleted and two-thirds of the machin-
cry installed. The balance of the
machinery, patterns, ETC., is promised
within the next thirty days.
"Your directors take pride that
they have so far made few mistakes
in the work accomplished and the cost
of constructing the foundry plant.
Everything has been well done and
the expense kept as low as consistent
with good work and material. All
bills except for wages are passed upon
by the Board of Directors before be-
ing paid. Each and every bill is care
fully scrutinized and full values OBJ
tanned.
"One-half of the subscription has
been called for and collected, and the
balance must be called for soon, per-
haps at the next meeting of the di-
rectors.
"The contract price for inside furn-
ishings of the foundry, other than
boiler and engine, shafting, pulleys
ETC., is s16,5OO. Ten thousand dollars
has been deposited subject to the call
of the Syracuse Radiator Co., the
builders OF our plant, and the bal
ance, $1,000, will be paid when work
is completed and the goods ordered
are placed on cars at Syracuse.
'The prospects are good tor an early
commencement of work and in this,
the first annual report of your direct
ors, we desire to say that we believe
all of our expectations will be fully
realized and that the Northwestern
Radiator Co. will bring fair returns
for your investment, bringing to our
city number of families and employ
ment for IS or 40 men.
1.-THE cash subscriptions to
the Northwestern Radiator
20. are. ..SS0,OOU.W
1.-THE treasurer's report will
show that he has collected. 20,S5O.0O
''There has been paid OUT. 16,259.40
leaving a cash balance In
banks Of. 4,5sO.6O
add to this the. second as
sessment. .................. 4,5Oo.0O
leaves total available cash. ls,740.80
'We will owe on contract. 6,670.O0
leaving balance of. ..... 100000
to complete the plant and
for working capital.
NM. Ed. Buck has been engaged for
the year at a salary of $1,000, acting
as superintendent and manager. Mr..
A. T.. Watson is employed as book
keeper at salary of $50 per month.
These two are the only salaried men
on the pay roll.
"As the work progresses and condi-
tions warrant the work will be classi-
fed into departments.
Respectfully submitted,
J. F. CooPER
G. A.. EMERSON
w. S. DEAN
c. NJ. SPRAGUE
o. FL. ScHLEUsENEE
w. MCNEIcE
E. BUCK.
The report of c. A. Emerson, treas.
Continued on page 8