Duluth Growth Company records

Collection — Box: SC

Identifier: S4521

Staff Only

Scope and Contents

The collection consists of annual reports (1984, 1985), balance sheets (1984-1986) and statement of operation to the shareholders from 1983-1988.

Dates

1983-1988

Conditions Governing Access

Open for use in the Kathryn A. Martin Library, Archives and Special Collections.

Conditions Governing Use

This collection may be protected by the Copyright Law of the United States (Title 17, U.S. Code). It is the user's responsibility to verify copyright ownership and to obtain all necessary permissions prior to the reproduction, publication, or other use of any portion of these materials. Researchers may quote from the collection under the fair use provision of the copyright law.

Biographical / Historical

The Duluth Growth Company was organized as a corporation under the laws of the State of Minnesota on April 1, 1983, for the purpose of purchasing or otherwise investing in existing businesses which possessed potential growth and relocating these businesses, where necessary or appropriate, to the Duluth, Minnesota area. The Company's wholly-owned subsidiary, DGC Capital Company, was incorporated as Small Business Investment Company to assist small businesses through dept or equity financing. Board of Directors in 1983 were: Dr. Peter L. Boman, Dennis W. Dunne, Manley M. Goldfine, Joel Labovitz, William E. NeNeau, Mary E. Olson, Jack F. Rowe, Stanley E. Salzman, Arend J. Sandbulte, Vlasie Solon, and Jerry H. Udesen. In 1984, Joel Labovitz was chairman and Jerry H. Udesen president and CEO. In 1985, Arend J. Sandbulte was secretary. In September, 1987, the publicly traded firm closed its principal business, a money-losing fishing tackle manufacturer, The Weller Company, 525 Lake Avenue South, Duluth, and later sold it to NAC Inc., which assumed $652,000 in debts in the transaction. Duluth Growth Company dissolved in 1988.

Extent

1.00 Linear Inches

Language of Materials

English

Additional Description

Abstract

The collection consists of annual reports (1984, 1985), balance sheets (1984-1986) and statement of operation to the shareholders from 1983-1988.

Physical Location

This collection is located at the University of Minnesota Duluth Archives. For more information about this collection or to make an appointment, contact us at libarchives@d.umn.edu or 218-726-8526.

General

This collection is part of the Northeast Minnesota Historical Collections, which are housed in the University of Minnesota Duluth Archives at the Kathryn A. Martin Library.