Business: Steam for Duluth

Since the summer of 1929 Duluth has hoped to have a steam corporation, one whose central plant would supply heating to the business district of Duluth just as New York Steam does in Manhattan.* In 1929 a franchise was obtained and P. W. Chapman & Co., Manhattan bankers, contracted to raise the needed $1,800,000. Market conditions made it impossible. In the autumn of 1930 the Chicago investment house of Haskell, Scott & Byrne pondered the matter. Partner Russell Wilfred Geyer investigated, found that market conditions were still impossible. But he had a smart...

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