Arizona republican., 1904-05-18

of the board respectively.
 President B. A. Fowler of the Water
 Users asstciation was called upon to
 outline the proposed plan of action,
 which was described in yesterdays
 paper and which, briefly, is that the
 banks have agreed to advance the
 money on the personal notes of citi-
 zens of undcubted financial standing,
 to be made out separately and indi-
 vidually in sums of $500 or more, pay able one day after date at reasonable interest, providing a sufficient num-
 Der of these notes are secured to ag~
 gregate the amount needed which is
 something over ,000 As all who are
 familiar with local affairs know, the city has voted bonds to the amount of
 S67,500,' they have been advertised for
 sale and bids for them are to be open
 ed on the 20th. It may take couple nf months after the sale for the buyers
 to carefully investigate the records
 and for the printing and delivery of the
 bonds. But they were voted almcst
 unanimously and so far as known
 there is no fault in the records no op- position to the enterprise CT other un-
 toward circumstance to interfere in it's
 fulfillment. Mayor Bennett has piedg-
 ed the city council to redeem these
 notes of citizens just as soon as pro.
 reeds from the sale of the bonds are
 available, be it three weeks or three months. The question therefore is crys-
 stalliZed into the proposition that
 these citizens are asked to guarantee
 the oity's credit for a few weeks, in
 the expediture of less than third
 the money that has already been or
 dPY al bNy Af he
 that two months valuable time may be saved in the construction of the Tonto
 road. And that it may be fully un- derstood that this move is not to en- able any man to handle this roll of -moley attention is called to the man. ner Of it's disbursement as provided for in the act enabling the cities of the valley to vote the bonds. The act pro- Yides that the money shall be paid out pnlv on the time checks issued by the government officials and audited by the rity council. Payment will then b. made by the banks CT at some desiG- hated place. Just as soon as this ar rangement has been perfected the gov ernment will have a fund to begin checking against.
 Dr. A. J. Chandler of Mesa city was present and stated to the meeting that the same method for early action was adopted by the Mesa city people All they asked for was the signatures of ten good men, but the movement be- came so popular that they had to d. vide the honor between twenty citI- zens.
 Mayor Bennett spoke at some length in favcr of the plan, authorizing the ,rse of his name as one of the guar antors, as also did P. T. Hurley MT. Fowler in further remarks, stated that he had devoted one day to a visitation Of business men, presenting the project 70 them personally and asking the use Of their names. In that one days work he had secured forty-seven names out of a probable 75 needed, though it is desired that a list of 100 be secured that the banks may choose from the list, such men as they prefer to do business v<sh. He read the list uf names and before the meeting was adjourned five more names were add eG to it making a total of 52. MT. Fowler moved that the president of the board, or rather the chairman CT the
 meeting, appoint a committee of three citizens to take this matter in hand, se- cure the notes of the guarantors turn them over to the bank, and in every way stand between the banks and the guarantors till the bonds are delivered and the notes redeemed. The motion carried unanimously and the chairman named B. A. Fowler. Frank Alkire and Walter Talbot as the committee.
 The following are tn enames Of the gentlemen who have thus far an- nounced their willingness to sign notes: 1 Walter Bennett, Walter Talbot, Charles Goldman, Clark-Pratt Vehicle Co, Frank Alkire, P. T. Hurley, E. J. Ben nit, l.. J. Rice, L. w. Coggins, Lin E. 1 Orme, E. A. Fowler, J. c. Adams, H. E. | Crouch, D.. H. Burtis. D. Nicholson, T. ! ". Chamberlain, Nj. c. McDougar. Eu- 1 gene Brady O'Neill. I. T. Stoddard, T. ! J. Prescott, J. w. Walker, w. A Will son, Dr. Fl. E. Stroud, Arthur J. Ed i wards, H. B. Mann. H. I. Latham, C. E. | DeMund, H. A. Diehl, J. w. Dorrs, 1 Dave Goldberg, Ben l.. Bear, Ezra w. | Thayer, Barry Goldwater, C. M. Surg | es & O., w. c. Foster, Frank Luke, I. l M. Christy Ed Eisele, Dr. William G. l LentZ, George Alkire, C. D. Doris, H. | Goodman, w. T. Smith, Peter Mohn, ! Dr. J. w. Floss, pr. John A. Lentz, k. ! H. Greene, Saunders & Arthur, H. E. | IEersting, H. s. Griswo'd, J. A. Mar | .7dall, F. M. Depew.
 All that these men can risk in the i matter is the interest on $500 each for | Il month CT two, and it is likely that | the whcle amour twill not draw interest | that long. It is suggested also that the | committee in payment of the interest | make an equable calculation so that the l first man who signs a note will have to pay TO more than the last ono. II may | therefore be reasonably predicted that | nobody will be out over fifty cents or | a dollar on the whole transaction.
 And the benefits that will accrue are almost incaloulable. It means primarily l the spending of this bond money this | summer, when the valley is passing | through what is probably its most ! strenuous season and good parS of this | money will work it's way back to Phoe- | nix. It means also the routing Of | much heavy freight via Mesa City that | otherwise would go by Globe. And it | further means a gain of two months | during this dry, hard season, in turning |