The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-03-19

floor. This could not be reached with tn e
ditch water and it was laid out as a town
site. A delegation called on the manager
Of the company
Eve must have water for the town or
we will not be able TO build up the valley,
the spokesman declared. You must find
some way 10 bring it here
The manager did. He built a great
aqueduct from the mountain tunnel across
three miles Of valley, carrying an elevated
hume to the town site. II stretched out
like the trestle Of a ghostly railway but
it brought water. 1t cost t3s, 900, and the
superintendent necessary TO care for IL
received $40 a month. Once il caught
fire; once part Of il fell down-all this cost
many thousands more for repairs. The
rentals from the town amounted TO $50
a year.
The town was ambitious. Il voted $500, .
600 bonds for a court house-whlch was
very well for place OF something less than
700 people. The bonds were sold in Port
land, Ne, and in Glasgow, Scotland. IL Is
considered doubtful u all the money was
spent on the county buildings, though they
ara pretentious.
The Chicago syndicate by this time had
invested 81, 200 900, and It's troubles had only
begun. The company had started with the
alluring prospect Of selling water TO thickly
settled valley 800 square miles in area. But
the valley did not I'LL with people. Further
the laws give the county commissioners
power to Ak the rate TO be charged for
water, also the right TO assess for taxation
basing the assessment both upon the value
OF the property and upon the need OF funds
with which 10 nun the county. By means
Of this double action proceeding the officers
Of the county not only reduced the income
but raised the taxes, and the Chicago syndi-
cate, twist and reOrganize as II might, not
only failed to pay dividends, but saw the
value OF IL property depreeiate despite
condition.
AZ last accounts il had sent for an irriga-
ton expert and begged him 10 take charge
and see what could be done. With this
commission, IL gave him an option on what
Is left Of the company's investment, includ-
ing the aqueduot on stills, Offering him the
whole for $50 900. Had the company bought
land endowed Il with perpetual water
right and then sold IL thus improved, the
story doubtless would have been different.
Sometimes the people themselves are de
ceived. st. Clair county Mo, thirty-five
years ago issued $3.50, O0O. in bonds for a rail
road. The road never came and the county
refused TO pay the bonds, which are held in
the East
The bondholders have secured judg-
ment and the courts have ordered the
County Judges 20 make a levy to pay il.
But for twenty years every Judge has re-
fused. They have spent long years In jail
for contempt or have hidden In the wilds
Of the woodland townships avoiding officers
from the Federal court. At the expiration
Of a Judges term he is released, IL in jail
and then IL becomes necessary TO catch his
successor. The debt now amounts, with the
costs, to 81 600 900, and Is growing greater
wear by year-but st. Clair county declares
that never will II pay nor compromise.
The County Judge who makes levy for the
debt may as well make his will at the same
time.
To two causes may be traced the Losses
Fasteners have experienced in their West
eTn ventures: Lack Of capable investiRa.
ton and anxiety for large Interest returns
The man who lent his money on an unbrokeu
quarter section Of the high plains, the semi.
arid portion OF the great West should have
known that he was taking chances; were the
loan large, he should not have been disap,
pointed II the settler took the money and
departed, The boom town speculator who
invested in q central Nebraska village OF
the theory that Ina a few years a metropolis
could be created there would probably los
his wealth anyhow.