The semi-weekly tribune. [volume] (Great Falls, Mont.) 1890-1891, 1891-01-21
WEDNESDAY,, JANUARY II. 1891.
TOWNSHIP COMPANY AFFAIRS

Mr.. j. Bookwalter, general agent of
the Great Falls Water-power and Town
site company. has just issued the follow
ing repor to the stockholders Oh the com
pany. 1t contains much information
that will be of Interest to home as well as
eastern readers of the TRIBUNE, and We
therefore publish it in its entirety:
GREAT FALLS, January /, 1891.
To the stockholders of the Great Falls
Water-power and Townsite company:
At "A meeting of the directors of your
mpau held December 81, 1890, Il semi
annual dividend OF . per cent, on the
stock of the company, was declared, pay
able January 10, 1891. Since the pay
meut of the July dividend. your directors
have purchased 500 shares of the stock OF
the First National bank of Great Falls,
at its par value of $4,000, and have eX-
pended in constructions and improve
meuts OF the water power at the Black
Eagle Falls about 100000. These
extraordinary expenditures account for
the inability of the board to declare a
larger dividend at this time. 1t should
not be construed to be a disparagement of
the property Of the company or shrink.
age in the value of the stock, that a less
dividend was declared than that of July
1st last. Indeed, that the business of the
company should provide for these ex-
pruditures and still leave 100000 avail
for the purpose of this dividend, is a
mark oil activity in he affairs of the com
pany and an evidence OF the growth and
prosperity Of Great Falls and the IN
creased value of the companY's property
..,,. tl,,r, &c ,NnGf Gunr,InA frinnis
could have anticipated.
The First National Bank of Grea
Fails is the most firmly established bank
lug institution in this portion of TIN
state, and by becoming interested in 1t
stock the Town site Company has ad
hered to itself a strong institution an,
with it many of the best Institutions ant
most capable men in the city. Not onl,
viii the investment be a valuable one n
a matter Of revenue, but the relation
thu formed will be useful in many re.
specys, The capital stock is $250,0 600
aud the stock purchased by this company
last August, NJ par, is now worth Size
per share, as shown by the books Of
the bank.
The improvement of the water power
at Back Eagle Falls consists of a dam
Obs feet in length and IL feet high
1tatullS 4iblI u oidt VI lut llNtI ~ Tic
other, together with the necessary gates
etc, ut tie ends on both sides. BY the
means of this Improvement an available
fall Of forty feet is secured. The totaI
cost will be about $4,000. The con.
struction has been most carefully done, OF
excellent matri ial and of the most per.
manent and substantial character. Built
as 1t is upon the solid rock forming the
bed of the river, while the sides are of
solid stone in place, to undermine or to
wash around is impossible and the struc-
ture may be expected to remain during
the life of the material (Which is mostly
rock With but little cost of maintenance
The whole is practically completed, the
great river pouring over it ready to fur
nish water tor power as soon as the plants
now IN process of construction, intended
to secure their power from this roint,
shall he made ready. The Great Falls
Electric Light and Street Rail way com
pnny. which /. now constructing its plant,
viii obtain Its power from this company.
The Boston 4 Montana Consolidated
Company's copper, smelter and refining
works, which will also obtain its power
from this company, is under process OF
construction, having already expended
about 100000. Ground has been staked
out for the location of the Butte & Boston
Copper, Smelling and Refining company,
"a concern equal in magnitude with the
Boston q Montana, on which work viii
beg Il III the spring, and which will also
obtain its power from this company.
There are excellent prospects of the
location Of lesser concerns upon thIS
power at 10 distant day that will no
only add to the company's revenue bui
give employment for many people anC
turn to use the many substances as wood
clay, sane, fibre, wool, stone and iror
with which this section is SO richly en-,
dowed.
The wisdom of this great improve
meut, both as an Investment for revenue
and AS "a means of enhancing the value
OF the company's large property In tn
townste, grows every day more apparent
Faith in the future and permanancy o
Great Falls daily enlarges n deepen
in the public mind. Evidence OF TN
is found in the daily additions to it
population, the numerous, extensive ant
permanent improvements no" nnde
construction. and the great amount o
capital from elsewhere eagerly seekin!
investment here.
Aside from its capital stock the con
pauy is without Indebtedness. Inc reSu
lar hIuual stileIleut, "hlcu
3Oth, will show in detail the nnancla
status of the company.
A saw mill for the manufacture 9
lumber from the large forest in the Be
mountains and on the Sun river URDU
tary only To this place. is now building
small factories of many kinds are ais
under construction.
The construction Of large and commt
diOus business houses, particularly IN IN
line of wholesale trade, shOws an entr
upon a large and permanent field fo
which Great Falls is located with pecu
liar advantage,
IT, DupY la'l.g atn now BE- safely ut
mated AZ d,oUu, and the prospects for at
tlglty during the coming season are a
bright AS could be desired,
Respectfully Submitted,
R.,I . , uIryy It.pAra1 Auapt