Total Resources

Show Footings

of $222,387.01.

— Capital Stock

Issued Amounts

to Only $61,450.

——–

DEPRECIATION

FUND IS UTILIZED

IN PLANT

——–

City Has 1,555

Telephones and 686

Are in the Rural

District- Company

Has No Debts.

——–

The annual meeting of the shareholders of the New Ulm Rural Telephone company was held at the creamery hall yesterday morning, President,Fred. Pfaender presiding. Secretary Ad. G. Bierbaum read the minutes of the last annual meeting and they were approved.

Nominations for directors were made shortly before noon and the annual election occurred during the afternoon meeting.

Company Has No Debts.

For the first time since the company was organized in 1905, there are no debts, nor are there any loans. Some of the outside construction,however, will shortly be replaced as it has outlived the ordinary expectancy of service and funds will have to be provided for this purpose.

A number of questions of importance were being discussed as the Journal went to press.

According to the report, read by Ad. Bierbaum, secretary, which covers the year 1923, ending Dec. 31, the cost of the plant and equipment is $210,132.74.

Brown County Journal,

May 2, 1924

————————