Large Number of

Coupons for $5 Worth

of Swims in Proposed

Pool Signed Up.

——–

GATHERING HELD TO DISCUSS BOND DRIVE

——–

Informal Meeting of

Legion Committee and

Citizens At Farmers

And Merchants Bank.

——–

A meeting was held last evening at the Armory of interested citizens in the proposed swimming pool in North German park. It was anticipated that Wesley Bintz, of Lansing, Mich., who was in New Ulm several weeks ago and submitted his proposition to the members of Ben J. Seifert post, American Legion, which organization is sponsoring the movement, would be present at the meeting. Arrangements for a drive for the sale of bonds to finance the pool were to be discussed.

Disposed of Coupon Books

A meeting of a committee of the American Legion and a number of citizens met at the Farmers and Merchants State bank Thursday evening of last week and discussed the floating of the bond issue to cover the expense of construction of the swimming pool. It was the consensus of opinion, after Commander A. R. Walsh had explained the cost of construction and the revenue anticipated, that it might be well to sound sentiment by the canvass of the city for the sale of coupon swimming books. This course was decided upon and during the past week a large number of signatures have been secured pledging the purchase of $5 coupon books, if the swimming pool is erected.

Financing of Proposition

The financing of the proposition was thoroughly explained at the meeting, as well as the method of operation. A bond issue will he floated by popular subscription and will likely bear 4 per cent interest. The bonds will be retired as funds accumulate out of the revenues of the pool. After a term of years and the bonds are retired the ownership of the pool will be placed in the hands of the city.

New Ulm Daily Journal,

Feb. 12, 1926

————————