The Watertown weekly leader. [volume] (Watertown, Jefferson County, Wis.) 1912-1917, 1917-03-28
PUBLIC MA 5SMEr TING
LARGELY ATTENDED
PLANS FOR INDUCING MANUFAC-
TURING PLANT TO LOCATE
HERE ARE BR0ACHED.
Electric Steel Castings Company of
Milwaukee May Possibly Be
Secured.

Initial plans for the securing of a big
manufacturing plant for WatertoWn
were made at largely attended mass
meeting of citizens held in the city
hall on Friday evening and presided
over by Mayor Charles Mulberger.
The plant it is intended to induce com
ing to Watertown is the Electric Steel
Castings Co. of Milwaukee, which
now has a capitalization of $500 600,
but which it is intended to increase to
100000 Leo G. Smith, president Of
the company was present and pre-
sented facts in connection with the
plant showing that it would be a good
thing for any city to secure as it
would employ about $50 men at the
start
At the close of Mr.. Smiths address
Mayor Mulberger stated that he would
put his name down for $1,000 subscrip-
ton. This was followed by Fred Will
koUski for $500 and others came in
rapid succession making a total of
$4,000 within a few minutes. The
initial movement to try and locate the
factory here was made under the aus
pices of the Watertown Industrial Civ
ic association, represented by Gilbert
Bentzin and w. R. Thomas, who after
local investigation as to power require
ments went to Milwaukee and inter
viewed the officers Of the company.
The shares of stock are placed at
so each and the company furnishes
its own site. Mr.. Smith stated that the
subscriptions are not to be paid until
after the signers are assured of the
responsibility of the company and the
amounts are to be paid into WatertOwn
banks 25 per cent every thirty days.
He said:
You are taking no risks. A com
pany employing $50 to 800 men with
pay roll averging between $4,000
and $4,000 a week will bring enough
money to your city to make up any
amount you subscribe. In addition to
this you have the proven statements
that the dividends will run we'll over
so per cent on the amount invested"
Mr. Smith showed the mayor $3.50
life insurance which he carried to
safeguard the company in case of his
death
Interest WOrkmen.
The workmen in the city are taking
an active interest in securing the plant
and pledge support financially. The
various unions in the city have shown
great interest in the movement, the
matter having been explained to them
at meetings of the various orders
Another Meeting Held.
Another meeting was held Monday
afternoon between members of the
local comittee, business men and Mr.
Wetter. secretary of the Steel Castings
Company at which a financial state
ment was presented by the company
Investigation Now On.
An investigation of the affairs of this
company is now under way If they
can be shown that it is a worthy en-
terprise money will not be lacking,
but if it is shown that the claims of the
company are not sound investors will
not likely take any chance Such an
addition to the industrial growth of
Watertown would be of immense ben
eft but care should also be taken to
see that it is sound and able to do as
it agrees with no loss to the poor or
rich investors in the enterprise Time
will soon develop the status of the pro-
posed undertaking.