The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1916-01-28
palmer IS PRESIDENT
Mayer BROS. CONCERN
Company Is Headed BY Well
Known Mill Man
froni ruesday,s oaify.

from TUESDAYS Dairy.
Stockholders of the Mayer Broth
ers' company, representing about
ninety per cent of the outstanding
stock were present at the annual
meeting held at the offices of the
company at seven o'clock last even
ing, the meeting having been post
poned from Tuesday, January II. The
interest in the meeting was very great
and the sentiment seemed to be very
favorable to the company, which is
considered an institution OF great
benefit to Mankato.
Louis Mayer, president Of the May
er Brothers company called the meet
ing to order, and after the reports of
the officers and executives were re-
ceived, the following stockholders
were elected as directors to serve. for
the ensuing year: George NJ. Palmer,
w. d. Willard, John NyGuist, E. A.
Bye, H. A. Patterson, e. l.. Halves,
and n. A. Door.
The directors elected are all we'll
known and leading business men Of
this community.
George NJ. Palmer is president of
L
and Trust company. Hubbard Milling
company and the Hubbard & Palmer
company.
w. D. Willard is cashier of the
First National bank, treasurer of the
Mankato Loan and Trust company
and treasurer Of the Citizens Tele-
phone company.
John Nyquist is director of the
First National bank and the owner
and proprietor of the well-known in
stitution, the Nyquist Clothing COM
pany.
H. A. Patterson is secretary of the
Patterson Mercantile company, di-
rector of the National Citizens bank
of this city and vice president of the
Citizens Telephone company.
E.. A. Bye is general superintend-
eft and chief designing engineer of
the Mayer Brothers company.
p. l.. Halves is a well-known den
list of Mankato with large property
interests and wide business expert
ence.
n. A. Door is also a we'll known
citizen of Mankato with large prop
erty interests and wide business ex-
perience.
Election of Officers.
After the adjournment of the stock
holders meeting, the newly elected
board of directors met and proceeded
to organize, and the following were
elected officers of the Mayer Brothers
company for the ensuing year, viz:
George M. Palmer, president; John
Nyquist, vice president; w. D. Will
lard, secretary treasurer; o. M.
Hatcher, general manager; John P.
lien, cashier.
With respect to the matter of divi-
dends on preferred stock for the year
1915, it was decided best to defer
payment of the same for the present
Preferred stock dividends are accum-
lative and all back dividends on
same must be paid before any divi-
dends can be declared On the common
stock.
The newly elected board of direc-
tors and executives are confident of
the future success of the company,
and desire all stockholders to feel
free at any and all times to call at
the company's office on any subject
OF interest concerning the company's
affairs in which they may feel inter-
ested. An accurate and exhaustive
system of cost-accounting has been
established during the past six months
and it is now possible to know the
exact cost of every operation in the
company's factory.
In addition to the address of the
retiring president, Louis Mayer, and
the retiring secretary treasurer, Lor
enz L. Mayer, general discussion
of the company's financial affairs and
future prospects was engaged in by
the stockholders present. 1t was the
general opinion of those present
that having perfected the Little
Giant Tractor during the past
few months to make it a practical and
salable article, the future prospects
of this member of the Little Giant
family were very bright, especially
in view of the fact that during the
past few days a five year contract for
the Republic of France has been
closed with one of the large automo-
bile importers of Paris, 1876 Model
"B" Little Giant Tractors, to be ship
ped at certain intervals of the five
year pCrlOu, DIS Tic COHlpduy WOulu
he able to furnish them. The contract
for France is on the basis of one
third Of the purchase price in advance
with the shipping instructions and
the balance at New York before the
tractors are loaded on steamship. The
first shipping order was received
Monday and the goods are now be-
ing boxed for ocean transport. Ocean
tractor shipments require as careful
boxing as of glass, and it would be
worth the while of any person to visit
the factory this week and witness this
operation.