Norwich bulletin., 1913-03-25
TO SELL THERMOS BUILDING LOTS
Directors Are Authorized at Meeting of Norwich n dustra Corporation Financial Report 1iven.0oard of Directors Elected

ped and furnished office without l charge.
 1 The town of Norwich has graded a street through our property at an ex- pense of $500. This street opens 1 some choice building lots and, IT. vleW of the sentiment expressed In our an i nual meeting a year ago, 1t IS deslra- bIe that the stockholders authorize | the sale of building lots by the direc-
 tors under such plan as this meeting l may approve.
 Under terms of the original con | tract, the American Thermos Bottle 1 Co were to begin their removal to l Norwich within 30 days after the completion of the factory. The build 1 ing not having been turned over by 1 the. contractor and the full amount 1 of S60,000 not having yet been paid the formal notice has not yet been given by the Norwich Industrial lm- provement Corporation.
 In order to provide immediate bene- fits to the city as well as to take care of rapidly expanding business, two floors of the Davenport building on Central Wharf were occupied last summer and between 40 and 50 hands have been employed.
 The interior of the id Mason home stead has been repaired and newly equipped at a cost of $2oo0 As soon as weather permits, further outside will be begun.
 The factory is receiving it's finishing touches. The total cost to date has been s114OO0 The investment of $54.- GOO in construction by the American Thermos Bottle Co. is an indication of their confidence in the future of their business.
 President Cary stated that he could rot serve on the board of directors for another year and William B. Young and Charles s. Holbrook refused nom nations for the office. MT. Holbrooh nominated Secretary M. E. Jensen Allen acted as tellers and the follow ing board was reelected with the ex- ception of MT. Jensen, who succeeds President Cary: Allyn L. brown, J. Desmond. John Eccles. Gilbert L.. Hewitt, William F. Hill, Walter W. Lang, Shepard B. Palmer, James B. shannon, Leonard o. Smith. All wert. unanimously elected, 291 shares being voted.
 Plan of Building Lots.
 Shepard B. Palmer said that he be- lieved that the stockholders and direc- tors appreciated the constant effort and energy which President Cary put into the work during the past year and suggested a vote of thanks to the pres iGent, secretary and treasurer, which was given. At the request of Presi- dent Cary, MT Palmer showed a blue print of the land owned by the com pany, explaining the location and lay out. He said that there were IA de sirable building lots in the section which it is proposed to develop first. These lots are about 56x100 in size It was explained that the original plan Of allotting a building lot to each of the subscribers to the Thermos fund had been abandoned, the subscribers with one exception agreeing to accept stock in the Norwich Industrial Inn preVement corporation instead. Will liam B. Young moved that the direc tors be authorized to sell these build ing lots te the best advantage possible and it was Sc voted.
 As there are practically ne eperat- ing expenses of the corporation, said President Cary. the money received from the sale of these lots will ge to the stockholders, and eventually a con- siderable revenue is anticipated from this source. In answer to a question, he said that the matter of accepting certificates of stock in exchange for the lots would be matter for the di- reeteTs to decide. There is but one subscriber who has not relinquished his claim to lot in exchange for stock of the corpora ton.
 The meeting was adjourned at s.45.