New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1917-05-09
CENTRAL HEATING
PLANT A SUCCESS
STOCKHOLDERS EXPRESS DE-
LIGHT WITH FIRST ANNUAL
. REPORT.
DIRECTORS ARE REELECTED:
AND MAY ADD TO HEATING
DISTRICT.


their annual meeting at the Commercial
club rooms for the purpose of listening
to the report of the secretary-treasure1
and OF electing new board of directors.
The meeting was very serene and well
it might be, because the financial report
OF the. venture submitted proved beyond
peradventure of doubt that the heating
plant proposition will prove financial
success. The figures show it and there
is no getting away from it. With total
returns of $4275.78 for only part of the
heating season on a capitalization OF
$26 400, approximately II per cent, it
was quite apparent that the heating
plant must prove, financial success.
Little Live Steam Used.
The amount of live steam consumed
during the year was but negligible
quantity and the heating experts gave
it as their opinion that not only would
therebe enough exhaust steam to supply
also the buildings in the two blocks
now connected with the plant but that
there would be enough to take care
of two additional blocks, the AUDITING
property owners of which are very
anxious to get the service also.
II the buildings now connected with
the heating plant had been supplied
during the entire year, the receipts would
have been at least $4,000. As it was the
receipts for heat amounted to $4,275.78
distributed over the following months:
November and December (estimated)
$1099.04, January $1062.9O, February
$998.15, March $738.69 and April
$377.00. The receipts for the balance
of the heating season will certainly bring
the totals to $4500.0O. Under the ar
rangement with the city, interest on the
capital stock at the rate of 6 per cent
will be first paid, then per cent will be
placed in sinking fund and the balance
can be utilized for the purpose of paying
back the moneys borrowed and retiring
stock.
3D. Stockholders Elected.
/ The stockholders are elected with the
first years showing and the board of
q directors have every reason to feel salts
fedt.xith. their efforts, Since they had
great many obstacles to overcome, the
greatest, no doubt, being the idea that
SO many had, that the proposition might
not prove feasible or might not prove a
sufficient money maker to warrant the
outlay. The best proof that the plant
is satisfactory in every way was given
when representatives from the block
north and from the one south of the area
now covered by the heating plant ap-
peared before the stockholders meeting
and petitioned for the extension of the
heating mains to cover these two blocks
also.
May Extend Plant.
The stockholders went on record as
favoring such an extension but left it
entirely with the board of directors to
have such extensions made if the con.
ditions warrant it. Supt. August Muel-
Ter of the electric light and water plant
came in for words of praise for his un-
firing efforts in getting the plant in
stalled and overcoming the many diff.
culties and obstacles which the Board Of
Directors had to face and which were at
times most discouraging.
Mention was also made of the salts.
factory manner in which the contractors
had done the work and the consulting
engineers were also given due praise fol
the manner in which they worked out
the plans for the system and supervised
the installation. The old board Of
| directors were reelected as follows
Ferdinand Crone, Alfred J. Vogel, F. w
Johnson, H. N. Somsen and G.. A. Otto.
meyer.
The detailed financial report submitted
bu Secy-Treas. Johnson reads as follows
| Receipts. -