The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1914-03-13
EXPANSION OF
IT'S BUSINESS
Is PLEASING
From Tuesdays Daily.


four-hundred and four stockholders
of the Mankato Citizens Telephone
company attended the annual stock
holders banquet and. business meet
ing in the .parlors OF the Methodist
church last evening. All FIVE of the
directors, whose terms expire this
year. were reelected for three years
more. These five were Judge Lerin
Cray. who received the votes OF 4,01i
shares Martin Bowe. 4.0i0 shares
]. r. Brandrup, 1891; Mic Peterson
$500, and Martin waiser, 3,724. A
large amount OF the stock was voted
by proxy The, total number OF
shares issued was SITS.
During the first part OF the even
ing, the gathering partook OF a
sumptuous supper. which was served
by the ladies of the church, and enter
tainment was furnished at the same
time with a victrola. The room was
appropriately adorned with flags and
other decorations.
II. A. Patterson, president OF the
company. called the assemblage to
order Immediately after the supper
and announced that all the stock
holders present were invited to go
over to Hickory street at the close
of the meeting and inspect the new
apparatus that the management had
been installing. Mr.. Patterson re-
marked That a hundred and eighty
were present and the gathering
seemed a very large one, yet 1t was
not nearly so large as II would be II
the whole body OF the stockholders,
numbering four hundred and four,
had been there.
Address BY Mr.. Patterson.
Mr.. Patterson went on to say:
Sixteen years ago almost to a
day the frst meeting for organization
of the Mankato Citizens Telephone
company, was held with Lorin Cray
as chairman and ]. b. Meagher, sec
rotary Since March IA. 1898, your
company has been pointed to with
pride as one of the few public spirited
ones which has weathered through
the storm OF opposition and compe-
tition, emerging and occupying now
a position of security among the
many successful businesses with
which Blue Earth county is blessed.
Unlike most enterprises Of its kind
this company was organized without
thought Of direct profit to its stock
holders. The occasion of its birth was
tyramical and unreasonable mo-
nopoly, the Northwestern Telephope
company. Bell subsidiary, then the
sole occupant OF the local telephone
deId. How, great the victory
achieved. how well II has fulfilled its
mission. need only to ask your
close attention to the figures which
will be given in the reports which
are to follow.
Year Witnessed Strides.
The year just closed has wit.
messed the same forward stride that
has characterized the company from
its start Many and even those close
ly related with its management have
predicted from time to time that the
zenith had been reached, but still
subscribers have continued to- come,
confronting the manager and offi-
GERS with many difficult problems
in their efforts to supply the demand.
Enlargement Of switchboard, new
cables. additional conduits have been
recommended as necessary at times
when your directors were loathe to
appropriate the money. But no back.
ward course has been resorted to
and the company has been financed
without hardship to anyone In
making during these 16 years its phe-
nominal growth from 200 subscribers
to more than 5000.
Efficiency OF Manager.
ITO the untiring and faithful at.
tention TO their duties of your board
of directors-to the capable eff
cheney of your manager, together
with his courteous treatment of sub
scribers and that of his employees
all backed by the tremendous force
welded by your four hundred stock
holders do credit the unusual sue
cess of this company. May II con-
tinue to perch aloft as an example of
what harmonious effort and the per-
sistent pull together spirit can ac-
complish."
Report Of seeretary-Treasurer.
w. ID. Willard. secretary and treas
urer OF the company, rendered his an
nual financial report. He stated the
assets OF the company as follows:
plant, s197, 303.42; stores account, So.
54s.37; accounts receivable, ss,327.7s
cash, s1,10s.s1; total, s205.2ss.s9. He
said that during the past year the
plant account had increased s9.3s4.76.
The statement of liabilities was
made as follows: Capital stock. $14.-
275; bills payable, $4,000; depre-
citation reserve. s2s.e73.o4; taxes
payable, s1.605.37: salaries. payable,
s70s7s; profit and loss, s14.42s.7o; to-
tai s205,2SS.ss. Mr.. Willard stated that
there had been a decrease Of $1,000
during the year in the bills payable.
or the debts of the company. The