New Ulm review., 1922-05-10
RURAL PHONE CO.
REFLECTS BOARD
SAME DIRECTORS WILL SERVE
DURING COMING YEAR
AS LAST.
LIST OF SUBSCRIBERS GROWS
SLOWLY BUT STEADILY
FINANCIAL REPORT.

According to the financial statement
of the New Ulm Rural Telephone Com
pany submitted at the annual meeting
of the stock holders held at the Cream
cry halllast Thursday morning thereare
at present in the city 1475 telephones
in service. In addition to city tele-
phones, there are 693 rurals tributary
to New Ulm. This shows an increase
of IS phones in the city over the report
of the previous year. -.
Directors Chosen.
Nominat tions for directors were made
shortly before noon and the polls were
open between one and two o'clock in
the afternoon. The following direc-
tors were chosen: New Ulm; Fred
Pfaender, A. G. Bierbaum, William
James, Jos. Wiesner, F. H. Retzlaff
and H. A. Hillesheim. The last named
replaces John A. Sellner who has been
director for the past year.
Cottonwood: Jos. J. Sperl, Math.
Roeck.
Courtland: Nick Reinhart, Henry
Mueller, Jr
Lafayette: Fred Wellner, Frank
Wellner.
West Newton: Math. Walser, Jos.
Altman.
Sigel: Henry Liesenfeld, Thos. Sta
dick.
Milford: Fred Rolloff, August
Backer.
The Board organized Immediately
after election by choosing the same Off
GERS as served last year, namely, Fred
Pfaender, Pres; Jos. J. Sperl, Vice
Pres; VIM. James, Treas, A. G. Bier
baum, Secretary and A. A. Mills,
Manager.
Interest Lagging.
About fifty to sixty stock holders
were present at the meeting but it was
not so we'll attended as the meetings
used to be before the state took a
hand in controlling the telephone
companies. The shareholders seem
to feel that they do not have very
much to say about the conduct of the
business so long as the state issues regu-
lations for the telephone companies,
as it has done for the past few years.
Salaries and Rentals.
Questions of salaries and also. the
question of allowing employees half
rates for phone rental were discussed,
but no decision was reached except
that it would be best to leave this mat
ter to the board of directors. a.,
The first meeting of the new board
will be held some time after the fif-
teenth of May and is subject to call
by the President. The fifteenth was
set as the date before which the direc-
tors will not meet because that is the
time when most of the phone rentals
are coming into the office and work
is heavy at that time.
The proposition OF continuing half
rates to the employees was opposed
by Director Roeck who felt that since
the employees are paid good wage
they should pay full price for their
phones. Manager Mills and President
Pfaender felt that this was not the
right view to take and stated that
other companies had the same ar
rangement. 1t is quite likely that the
present custom of charging the tele-
phone employees only fifty per cent
OF the regular rental will be continued.
Financial Report.
The financial statement which was
presented showed the following figures
Real Estate SO, 3,675. 90
Buildings .............. 14,332.OO
Central Office Equipment 28,398.37
Subscribers Sta. Equ. .... 32,739. .O5
Exchange Plant Constr. -. 77,297 .62
General Equipment. -. 4,569.39
U. S. Liberty Bonds 10000
Cash IN Banks .......... 5,391 .33
Due from Subscribers 2,OO4.5O
Materials and Supplies :. 3,429.93
Total ................$ STE, 1897 SO