The Coconino weekly sun., 1895-02-07

thousand feet high, with solid rock walls, and bedrock bottoms. These canyons offer most advantageous op- portunilies for building high, substan- lial dams, aL the foot of the plateau, either of which will create a reservoir large enough to supply water for all the demands of the valley, and for all time.
 Selecting Oak creek canyon as the base of operations, the complete sys- tenn, dams, canals, distributaries, etc.. is estimated to cost $250. .000.
 According to estimates, there are about 600. .000 acres of land in the val lev, of which 300, ,0O0 acres are irriga- blc. The balance lies along the high CT zones, beyond the reach of artificial application of water, and is therefore mainly useful as grazing land.
 Although we have 300,000 acres to irriyate, we will, for the present utilize only hundred thousand acres.
 The average value of water rights in the western states and territories is fixed at $26 an acre. On this point we refer the reader to all the authorities on the subject The value of particu. lar water rights, however, depends on local circumstances very largely--thc cost If construction of the system, the character of the country to he irri- gated, and tine nature and value of ih, products. Our system can be made q remarkably cheap one, considering the results it will accomplish. At S26 a' acre, the water rights on 100000 acres will amount to more than the capita stock of the company. Al SIS an acre or one half of the average value. the water rights on 100000 acres will re turn one-haf and m,re of the capital But by irrig iting 100000 acres, the water rights. even at SIS an acre will return the full capital of the com pany.
 Water rentals, like water rights, de pend for their value on the conditions under which they are operated. The! | Gu, l,,ll.t.s t,,8 8Dn acre. Placing ours at $2.50 an acre which is low figure, our revenue would be $2J0,0 ,000 q year, from tbi item alone.
 From this must be deducted the coS of keeping the system in good repair For this, we make the liberal allow anoe of 25,000 year, and there i still left S225, 900, or nine per cent. oi the capital stock as a net annual reve uuc. This revenue will of course b increased in proportion as more lan' is brought under the ditches.
 A careful investigation of the su5jec vii! prove that irrigation systems nov in operation pay all the way from fiv to sixty per cent, and in one case W, now recall, the revenue is eighty pc cent. The success of, and revenue [ te derived from, irrigation investments as in every othep business, depends O the merits of the enterprise, the abilt I ty. experience, industry and intesrit of the managers,
 In the Verde valley, wo have tn land, with the proven capacity for tn production ot large and valuable crops We have the matchless climate, ric soil and genial sun; we have the wate also. We need but one thing nor, and that is proper irrigation system by the use of which the water may b applied to the land in proper quant lies, at the proper time.
 To the construction of this irrigatio system we invite the attention of m vestors, on the merits. We believ that the money to bc received fror the s,le of water rights will nor than recoup the company for the out lay OF cost of the work. And the wa ter rentals will return large and rcgu lar divi lends. WILSON HAMILTON. We concur:
 D. NJ. RIoRDAN, !. R. KILPATRIcK,