New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1915-08-04
new CORPORATION
WILL BUILD HOUSES
NEW ULM INVESTMENT COM
I PANY is NAME OF NEW CON-
# Germ.
OF HOUSES FOR RENT
AND SALE FEATURES
st PLAN.

September when the New Ulm Im-
provement Company opens it's doors for
active business. This new company
was formed last week and with the
articles of incorporation approved by
the Attorney General, the company viii
commence its improvement campaign
the first of next month.
The company has been quietly or
gained with a capital of $4,000 dividend
into shares of 500 each. The highest
amount of Indebtedness of the company,
is never to exceed the amount of paid-up
capital. The personel of the company
is such as to inspire confidence in it,
operations. Its charter members are
J. l.. Schoch, Emil G. Hage, John 81.
Siegel, VIM. A. Pfeferle, Geo. d,
Erickson, T. ]. Snilsberg, and p Graf.
DR.. ]. L. Schoch was chosen as the
president of the corporation, John a.
Siegel, Vice President and T. j .Snlsberg.
Secretary and Treasurer.
As is stated in the articles OF incor-
poration the general nature of its bust
ness and object shall be to buy or IN
some other manner acquire, improve.
manage, lease, sell, exchange, and other
wise deal in real and personal paprmrty
of every nature, kind and description.
The government and management ofths
corporation is to be vested in board Of
five directors who are to be elected
annually by the stock holders at their
regular annual meeting and who VIII
hold Office till their successors are duely
qualified and elected. The first board
of directors is composed Of thu foilowins
representative business men: j. L.
Schock, Emil G. Hage, John II. Siegel.
VIM. A. Pfeferle and T. j. Snilsberg.
AS is indicated in the name of The
corporation, its purpose is the improve
ment of real estate in the city of New
Ulm. The company intends to carry on
a general real estate business but in
tends to make a feature of buying uB->
improved real estate and building upon
it for rent or sale. 1t is in this capacity
that it will be filling much needed re-
quirement in the city. Any one who
has ever tried to rent modern housein
New Ulm knows how difficult it .isttuKet
even the most primitive dwelling. They
are simply not to be had at any price.
Many people are kept away from New
Ulm every year because of the dearth
OF suitable houses to rent or to buy. The
company has hit upon a real need of the
city here and is planning to<carry unea
rather extensive building program. The
idea will be to sell the property whenever
convenient but renting of houses will also
have an important place in their plans.
Just why no one has started such
company before seems to be problem.
There has long existed a demand for
some person or company Of persons with
the necessary capital to improve city
property. 1t is surprising how many
unimproved lots there are lying idle in
the really desirable residence sections
OF the city. There seems to have. beer
plenty of demand for the houses but n
lack of capital or initiative to build. h
is to be hoped that the new company
will furnish both of these requirements
for an increase in the number of available
homes in the city means a big jump il
the desirable class Of population for the
city.