The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1914-03-06
Annual Meeting Of the : ness
Mems 0rganizs,s --
Old OFFICERS ~ .fElEerED
Considerable Business Was Transacted;
Reports From Secretary and Treas.
urer e. r. Soaring
From Wednesdays Daily.

DiscdtiSHcu Ut the blOW pIOEIeb3
that has been made In securing stock
which are to enable
Mayer Brothers to place their new
traction engine on the market, as
they desire to do, the Mankato Com
mercial club last evening took steps
in the direction of making q more
active canvass for investment In the
stock. A motion was passed instruct
ing the president, +. Z. Crandall, to
appoint a committe eto carry on
an active campaign for capital. II
the project of getting the desired
subscriptions fails, It Ia possible that
the concern will leave Mankato al
together.
sroaehed BY Mr. Nyquist.
The subject was preached by John
Nyquist. He remarked that he was
q member Of the committee Of three
that had been appointed to investi.
gate the Mayor traction engine prop
osition. It had been desired to sell
stock to the amount Of $4,000, but
thus far only $4,000 worth of the
stock had been sold. This, Mr.. Ny.
quist said was no wildcat scheme.
The Mayors had made a success Of
II. II the people Of Mankato could
not take up with such proposition
as the Mayors had to offer. then all
such industrial projects might a
well be thrown into the waste bas-
ket. The repair work that used to
be done by the Mayors. he said. had
been crowded out by other business
and was now being done by the VIII
cox concern. Mankato people were
merely asked to buy little stock to
encourage the Mayors.
Worthy Of Peoples Confidence.
Mr.. Nyquist declared that the
Mayer Brothers had demonstrated
their honesty by paying OF q large
amount of old Indebtedness after
they had gone through bankruptcy.
They had certainly thus demon.
strated that they were worthy Of
the confidence OF the people. He
would like to see the president ap.
point committee to sell stock for
them. Some outsider might come
along some e. and pick up their
concern and t.--s II away from Man
kato. II the Mankato business men
could not see through such q prop
osition as the Mayors had to oifer.
they had better drop factory propo.
sitions altogether. -.
Paid on Many Debts.
John r. Snow asked whether II
were not true that Il was Just pre-.
ferred and not common stock that
had been offered. Lorenz L. Mayer
answered this query in the afiirma-
tive. Mr.. Snow said he would rather
have common stock than preferred,
and thus get share In the success
Of the enterprise. In case It proved
to be a great thing. m. Mayer re-
piled that his concern had spent
twenty years In building up what
they had and had had many ups and
downs. In the ninety-sevens they had
gone through bankruptcy and had
since paid OF bankrupt obligations
amounting to $4,000. They were not
legally obliged to do this. It was q
mere moral obligation. He thought
II was fair enough merely to Offer
the preferred stock.
Offers From Other cltIes.
F. w. Kamm. salesmanager OF the
Mayer Brothers company, spoke Of
the payment of the debts by that
concern after Il had been forced
through bankruptcy and had met al
the expenses OF that proceeding. II
was an honest concern and had to
offer an excellent proposition. He
spoke Of offers that had been made BY
other cities TO get the Mayer
Brothers to move away from Manka-
to. He said the Mayors were willing
t. meet half way with any propo-
sision that the Mankato people had
to -ffer. He wantsd to know whether
the Mankato people wished to see q
concern in their midst grow to
have payroll Of $4,000 per month
or would let the establishment go
elsewhere.
Praise From An Outsider.
A. J. veigel told how his brother.
w. r. veigel read supervisor Of
Stark county. North Dakota, who had
had q great deal Of experience with
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