New Britain herald., 1927-02-16
BURR|TT HOTEL IN
 NEED 0F PUBLIC AID
Town Not Supporting IL, Black
 Tells Stockholders

! i'ii iNN iiplSl "OhId NeNl oiiC iiiteli Q week at the hotel, it would increase 1 the income over $3,00O a month or between s35,00O and s4O,O00 a year, President Isaac Black stated in his annual report to the stockholders, i who held their annual meeting yes- 1 terday. Referring to patronage of the dining room and coffee shop, MT. Black said the cooperation "by the townspeople has not been up to our expectations"
 Receipts during 1926 were s6r 1 5S0.13 less than expenditures. &C., cording to the financial statement. It was explained today that this is due greatly to the fact that s20,496 was set aside for depreciation.
 MT. Blacks report and the finan- cal statement follow:
 1 February IS, 1927.
 ITO the Stockholders:
 ] "Today we are having the third annual meeting Of the stockholders of the Elihu Burritt Hotel corpora ton.
 Your president and board Of di- rectors believe that the Burritt ho- tel has taken a very important place in our community life. and that we bid fair to- reach the high standard of operation that is desired by the citizens of this community.
 The hotel will be open three full years March 4. We are starting the year 1927 in the firm belief that we will exceed any showing that we have made up to this time.
 Tt has been a regrettable fact that up to the time Of securing the services of Carlos D. Smith as man. ager, We have had some very un- fortunate experiences with other managers that preceded him. but in spite of that situation we feel that we have continually made progress
 The strength and earning capac- fly of any hotel is the upbuilding Of its room occupancy, and each year we have made a steady gain in this direction, until in the year 1926 we have had an average occupancy dur ing the entire year of 55.5 per cent as compared with 51 per cent of the preceding year. For each per cent gain we make in occupancy we add S7,G00 to our income, so we feel that the gain in this direction has been very significant.
 "Tlre patronage of our dining room and coffee shop. by our regu- lar guests. or that of the house count, has been all that could be hoped for, but we are sorry to say that the support by the townspeople has not been up to our expectation.
 This is your hotel. The officers of this hotel association are your servants, and 1t is a great pleasure to assist on our part in the estab- lishment of this very necessary cen- ter in the community life of this city. We fully appreciate your gen. erous subscription and help, but we cannot urge upon you too strongly the necessity for even a greater spirit of cooperation and better patronage of the hotel from our towns people.
 Constructive criticism is always welcome, and we invite you to make any complaints 10 the manager, Car los D. Smith, who can be seen at any hour of the day or night. We do make mistakes, but we are ex- tremely anxious to correct them.
 If all of our stockholders would | only take one meal a week at the | hotel, it would increase our income | over S3,o00 per month, of 35.oO0 to | $40,000 per year and would insure l a profitable return on your invest ment.
 What we need and want Is more | cooperation from the stockholders | and the people of our community.
 You will find herewith in this report a, detailed statement of the | affairs of this corporation.
 Tn passing I simply wish to call ! your attention to the items set up | as reserve for depreciation, amount ing to some s47,6O0. While there | has been criticism possibly in the | minds Of some of our stockholders l as to why your officers did not pay out these earnings in dividends, in stead of setting them up as proper reserves. we have felt that the hotel l should be put on a businesslike | basis the same as any manufactur- ing plant In the city, and that we were only building a reserve that | would eventually accrue to the | property or the stockholders; that | when the payment of dividends ! started they could reasonably be ex- pected to contine.
 with your full cooperation the l directors look forward to the future with confidence, with every expecta- ton that the year 1927 will be a profitable one.
 Respectfully submitted,
 (Signed)
 ISAAC BLACK, President"
 Assets.
 C'osb . Xii 06 |