Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1893-05-17
dertaking must now expend more money
in fully perfecting its plans.


in fully perfecting its plans.
II is also considered necessary in order
to bring company lands and those of in
dividuals who should buy water for irri-
eating purposes within reach of railroad
Transportation to extend the Pecos Valley
railroad to Roswell at once, distance of
eighty-fve miles. The road was built to
Eddy two years ago, when there was not
q house nor an acre of cultivated land
along the entire distance of eighty-nine
miles, but is now on paying basis, the
receipts having more than doubled last
year. Yet it is not getting one-tenth the
business it will when all the cultivable
lands along the route are under cultiva-
ton.
The company also considers it neces-
sary to extend the road northward to
connection at or near Las Vegas or some
other successible point as soon as pos
sible. This will give the products of the
valley an excellent market in the north,
where they are wanted, and connect the
whole valley with northern enterprise.
This extension ia certain to have large
local business, owing to rapid develop
ment of the country, but will have a
greater traffic because it will be part of a
through line between the Gulf of Mexico
and California and the Rocky noun
tains.
The Pecos Valley Town company, a
strong and successful factor in thegrowth
Of the country, has been entirely separate
from the Pecos Irrigation & Improvement
company and the Pecos Valley railroad
company, but now also goes into the com
bination.
The first board of directors of the Pecos
company will be VIM. Mcmillan, of St.
Louis, John Statterfield, of Buffalo,R R. j.
Bolles, of New York, Chas. A. Otis, of New
York, Chas. B. Eddy and w. A. Hawkins, of
Eddy, and ]. 81. Hagerman, of Colorado
Springs. These gentlemen, most of them
large capitalists, have wide reputation as
successful electors of great enterprises.
That they are going to at once put S.
O00, 600 in the further development work
in the Pecos valley guarantees the re-
alization Of the rosiest hopes of the peo-
pie here. The directors have all visited
the valley, are thoroughly familiar with
its conditions, and are making large ex-
penditures in personal Investments, be-
sides joining in the general plan here
outlined. This consolidation was in con-
temptation for some months, was thor
oughly discussed and approved by a
large majority of the stockholders of the
three companies and probably will be by
nearly all shareholders, all being allowed
to come in, simply selling their stock for
stock in The Pecos company.
1.-THE Pecos company" has already
found cash purchasers for stock sufficient
to build the road to Roswell, complete
the Seven Rivers and Roswell reservoirs,
and provide for other necessary pur-
poses.
The financial result thus secured by
this combination guarantees early COM
pletion of all contemplated improve
ments in the Pecos valley.
It insures the building of the railroad,
the completion of reservoirs and canals,
the absolute control of all water of the
Pecos and its tributaries.
II makes certain the rapid growth of
Eddy and other various promising towns
established, and the early colonization or
settlement of all the agricultural land in
the valley.
It means that millions of money will
be spent here In the next two years, and
that for every million spent 10000, 900
will grow from development and the
wealth resulting.
II is highly complimentary to the pro-
jeotors that their foresight in expendi-
lures and general plans are now so readily
endorsed by capitalists. There is an old
saying that "cash talks" And the mean
ing Of the expression is correct. Had
there not been the fullest measure of sue
cess in what was undertaken, and did a
shadow Of doubt hang over the valley and
its future, the enthusiastic men who have
been on the ground and investigated
would not invest their money.
The people of the valley may we'll re-
joice, for the uninterrupted flow of pros
perity will be continued and accelerated,
and in three years that will be accom-.
plishsd in the way Of peopling the coun-
try and making it productive which will
make all previous progress seem to have
been tardy indeed Argus.