Arizona republican., 1900-09-01
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this for loss by seepage. evap- oration and other $ urces. and We still have forty and one-half inches for our land This is a good showing for us to make if We desire to present the matter to capitalists to secure he mon ey for tha cons cructiOu Of the dams that will enable us to accomplish thesa results.
 If I have a right Understanding of the objects Of this meeting today 1t Is to discuss this proposition of water storage. and,ascertain if it is possible for us to formulate some plan by which We can secure the capital to store this water. which for so many years has been running down to the ocean unused. For the consideration of all who are interested I have some sug- gestions to offer.
 Suppose w. start Out with the propo- sition to organize a company with a capital of five millions of dollars? This is none too large. because. before we get through wb,h it we must have a reservoir on the Verde as well as on the Salt river. This company must ab- sarb the canals as well as the reser-
 
 valley, or at least all of the owners of land under the old canals at it's back if it would succeed.
 The land under the present canals 10 which title has been obtained from the government amounts to apprOxi- mately 27j.000 acres. The people who own the lands are the ones tN be pri- marily benefited by the construction of ehe reservoirs. All the inha bi:ants of the valley. including the citizens of this city and the smaller towns of the valley will be benefited to a greater or less extent. according 10 the extent of their business inter- sts in the towns or cities.
 This company should be organized by the people of the valley. and all should take an interest in it according to their several interests. Tn order that We may pr sent the matter>To the cap- italist, who has the money that WG need and must have to enable us 50 gn ahead with the plans for the storage Of water. this company must have co't- tract with the people who own tho land, drawn up in proper form and made binding with the present owners and their successors. tO the effect that they or their successors in interest will pay to the company ten dollars an acre for the land owned by each respective ly payable one dollar per acre per an mum. That all owners of city or town lots in any city or town within ,he re- zion to be irrigated. should agree u pay five per cent of the value of their lots. to be paid in ten annual install ments. The first payment to be mad in six months from the Gal-e of the Organi- Zation of the company. No fur.her payment to be made for three years. or until the first reservoir is completed. This would give the company $215.00O from the land and possibly Sl00, GOO more from city and town lots. $315. GOO in all within the first year. Every sub scriber should have stock in the com pany to the 5Xten't of the money paid in by them. This would take. say. $3. eco of the stock. and We have $1,250O00 tO use in absorbing the canals and reservoir sites.
 As a part If the contract between she land own rs and the company. it should be agreed on the part of the company that no water privileges or rights to the use of water from the ca n2ls or reservoirs should be sold or in any way granted to any person. to the detriment of the persons owning the