Arizona republican., 1905-09-17
PHOENIx. ARIZONA. SEPT. r, 1905.
A Corporations Misfortune and the
 Valleys 0ood Fortune.

Valleys Good Fortune.
 While it is unfortunate for the Ari-
 zona Water company that receiver
 ship for that corporation has become
 necessary, the appointment of a re-
 ceiver will work to the decided ad-
 vantage of the water users of the Salt
 River valley in two particulars:
 l. The proceeding will lead to the immediate repair of the Arizona dam, so that the canals on the north side of the river will obtain their accus- toned supply of wa,er.
 g. The receivership will facilitate the requirement of the north side sys- tenn of canals by the owners of the ir- rigated lands.
 The Arizona Water company owns entirely the Arizona canal. the great waterway which irriga:es the newer lands of the valley. and it owns a con- trolling interest in the Grand, the Maricopa and the Salt River Valley canals. By virtue of this ownership it controls the distribution of water for irrigation to a large extent; it's control was absolute until the advent of a competitor this summer in the form of the Appropriators' canal.
 The Arizona dam, the principal point of diversion for the lands on the north side of the river is now disabled for the second time this year. Last spring, for the first time since 1891, portion of the dam was destroyed by floods, l and the work of repair proceeded so slowly that it was sixty days before l the dam was again in commission. l Had it not been for the fact that the { ranches had been thoroughly soaked ! by the winter rains, the resulting |. losses to ranch owners would have been enormous. As it was. year | porous in the history of the valley | took its place as only an average sea son. What made the situation all the | more exasperating for the ranchers was the fact that during all the time that the dam was out of use there was a great volume of water in the river, running in waste to the sea Indeed, had it not been for the fortuitous con- struction of the Appropriators' canal, a waterway which diverted a portion of the flow of the river at a new point, the season would have been one of disaster.
 The climax of misfortune came with the summer rains. The dam had been temporarily repaired at last, and the abundance of water in the river. war ranted the ranchers in hoping that the misfortunes Of the spring would be offset by a fine supply of water in the late summer and fall. But again the floods disabled the dam, and material delay in the repair of the of water throughout the fall months a condition too serious for placid con- temptation
 It seems that the resources of the Arizona Water company were severely taxed by the expenses of the springs repairs, and there has been a default in the payment of interest on the companys bonded indebtedness. Of course there are no funds for the sec ond repairing of the dam. The receiv- CT appointed in New York on Friday can go ahead unhampered, however. with his certificates, which will be- come a direct lien on the company's property ahead of the mortgage which secures the bonds. Temporary repairs, at least, can be made at once, and within a couple of weeks at most-if proper energy is used-water should again be flowing into the Arizona ca nal.
 The receivership will inevitably re- suit in early foreclosure of the blan- ket mortgage which covers the canals, and then will come the opportunity of the water users to buy the system.
 By great good fortune, the govern ment was induced last spring to con- sent to the purchase of the canal sys- tenn owned by the Arizona Water for the benefit of the Salt