Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1896-07-23
A NOTABLE ENTERPRISE.
Rio Grande Irrigation 4 Land Com
Dany About Ready to Begin Its
StupendOus Work in New
Mexico.

ho bhO iCouOib VI tiO ~ w hAGAASnA ~
have previously been advised, the Rio
Grande Irrigation & Land company
limited, has been organized and incor
porated in England with capital STOCK
OF 100000 and enough of the preferred
shares have already been disposed of to
enable the company to begin early opera
tions. Indeed, 1t is understood that a
ship-load of cement is now en- route from
England to be used in the company's
proposed dam. Speaking of this enter
prise the London Financial Post says
ed1torally:
"One of the most stupendous and
promising undertakings of the day is the
damming of the Rio Grande, the Nile of
America, in New Mexico, U. $. A., by
which nearly 100000 acres of fertile
alluvial land, now barren and unproduc-
tive, will be brought into cultivation and
utilized for the comfort and sustenance
of man. The Rio Grande Irrigation e.
Land company, limited, with capital of
100000, divided into 100000 s per cent
cumulative preference shares of 81 each,
and 100000 ordinary 81 shares, has been
incorporated to carry this out.
"The company has acquired the right
to impound and control the waters of the
Rio Grande for irrigation and other pur-
poses, and solid masonry dam (stone
and concrete) will be put in at Elephant
Butte, where the river by the erosion of
countless ages has cut a narrow channel
through sandstone mountain. The
dam will be niIetys six feet high and 300
feet in length, and will create, it is said,
the largest artificial lake in the world,
which will give the company control of
the whole of the irrigation of what is now
stated to be the finest fruit and vineyard
growing district in the United States.
"Over $4,000 acres have been already
brought under ditch and cultivation
along the river, and as soon as the stor-
age dam and canal are completed, nearly
100000 acres can be irrigated.
sIn controlling the only possible source
of water supply the com mpany should have
complete monopoly of commodity
absolutely essential to the life of a pros
porous and rapid growing community
compulsory consumers the pos
sibility of competition.
"Judging by what has been accom-
plished within the last nine or ten years
in California, and in view of the rapidly
increasing demand for irrigable lands in
the Rio Grande valley, the estimate as to
profit and revenue set forth in the com
pany's prospectus appears to be CON
servative. A water rental of $1.50 (6s.)
per acre per annum from the lands already
under ditch will alone give an income OF
over t15,000 per annum, exclusive of the
large profits that must accrue to the COM
pany from the sale of lands and water
rights. When the whole of the irrigation
works as at present planned have been
carried out, the revenue from water rents
alone, it is estimated, will exceed el75,-
600 year, even though not more than
two-thirds of the lands under ditch be
irrigated in any one year, and an average
of t10 pei acre for water rights will, it is
believed, return the fortunate sharehold-
ers about g3,000,0OO sterling.
Gas the Rio Grande valley has long
been considered the Ell Dorado of agri-
cultural wealth, the company's undertak
ing is, undoubtedly, most promising"
Nathan E. Boyd, president of the Me-
silla Valley Irrigation colony, who is now
in England, has been the active promoter
of this company from the beginning aid
he has succeeded in enlist ing in the un-
dertaking some of the strongest invest
ment firms in England. Among the To-
cal directors are Hon. w. 7. Thornton,
governor of New Mexico; Edwin @. Rob
erts, director of the Rio Grande Dam q
Irrigation company; Joshua s. Reynolds,
president First National bank, Ell Paso,
Texas; John NJ. Yair, director Mesilla
Valley Fruit & Vine Growing company,
limited; Henry u. Bowman, Bowman &
Sons, bankers, Las Cruces, N. M.