Norwich bulletin., 1915-03-23
REPORTS RECEIVED AND ELEVEN DIRECTORS REELECTED At Fourth Annual Meeting of Nor
 wich Improvement Corporation.

The annual reports were received and the eleven directors reelected at the fourth annual meeting of the stock holders of the Norwich Industrial Im- o'clock on Monday afternoon at the Thames National bank. There were SS6 shares of stock represented at the meeting. President James L. Case presided. Annual reports were made by Secretary Martin E. Jensen and Treasurer Gilbert L. Hewitt.
 The directors reelected were the following:
 Allyn L. Brown. James l.. Case, J. J. Desmond, Gilbert L. Hewitt, Will jam F. Hill, Shepard B. Palmer, J. B. Shannon, Leonard O. Smith Martin B. Young. They will elect officers at a meeting to be held probably within week.
 The report of President James L. Case covered the operations of the year and was as follows:
 It is a pleasure for me at this time to call the attention of the stockhold- CTS to the annual report of the treas urer for the year just closing and es- pecially to the fact that all bills against the corporation have been paid in full and a balance of $633.19 is in the treas ury.
 This result has been made possible largely by the special sale of lots which took place in September and October of 1914 under the direction of James R. McC1elland of New Haven, Conn.,, as auctioneer, at which time 36 lots were sold, most of them being upon the installment plan. Net payments to the amount of $1,259.4S have been received by the treasurer, as shown by his re- port. Of 36 lots sold, have come back to the company because of the failure of the purchasers to comply with the terms of the contracts under which the lots were sold. A new street known as Hillside avenue has been laid out, and or said tract B lots which can be sold. I believe that an effort should be made to dispose of these remaining lots during the coming spring.
 In addition to this tract of land, there is a large acreage which has been undeveloped lying almost directly south of the American Thermos Bottle company tract and which is available for a factory site.
 I trust that the stockholders will bear this in mind and. should occasion offer. I hope that they will bring this property to the attention of prospective purchasers.
 The treasurer's report further shows that there is also due from unpaid subscriptions the sum of $1,910. A con- siderable portion of this, however, is absolutely worthless, but a special ef- fort should be made during the com ing year to close out this entire ac- count. This amount represents the contributions of 10 subscribers.
 The report from M. E. Jensen as au- ditor of this corporation shows that the American Thermos Bottle company has paid to March 20, 1915, the sum of $234, 4,388.44 for wages and payrolls and $50, ,707.74 for advertising, and both of these amounts have been credited on account of agreement existing between tho Thermos company and this cor poration.
 The only financial obligation that this corporation has to meet during the ensuing year. so far as can see, is sum sufficient to pay the taxes on the land at Thermos park and I be- lieve that a special effort should be made to dispose If the land as rapidly as possible and thereby transfer our assets into cash.