The Imperial press., 1905-09-23
NO. 5 AUTHORIZES BONDS
Era of Great Prosperity at Hand for
 the Entire Easfside Country

The stockholders meeting of Imperial
 W ater Co. No. ,, held at HOltyille last Thursday partook more of the nature of
 love least than anything which has happened there abOuts for many day.
 The questions submitted to the stock
 l'tsiuers Tor decision were first, the issu-
 Ing of bonds Ot the company for $l00 ,000 | second, the disposition ol the assess
 nent that hAu been called for by the beard Of directors To raise funds for
 immediate repdlrand construction work, and third, to decide upon what kind of
 q canal system they wished to have built, with the proceeds to be derived from the unsuId stock of the company. In marked contrast with recent meet lngs, there was an entire absence of dis
 cord and inharmony, the serpent of dis trust and gloom having apparently been
 banished from the Eastside Eden, and
 he spirit of mutual confidence and
 respect to have taken it's place. In this sane aud hopeful attitude the good peO-
 pie of Number Five met the questions submitted to them and disposed of them i'll an orderly and harmonious manner.
 In short time sufficient number had given their assent to authorize the issu- ance of the bonds Then the Board of Directors were authorized to cancel as sessment No ,. The matter of the kind ot canal system and waste way they wanted built and the disposal of the un- sold stock was a longer task, and albeit a pleasant one to discuss. For the first time the Board of Direut tors were in pO- sltlon to assure everyone that the rights If the Company to this unsold stock would be respected They have an agreement direct with President Ran dolph regarding the matter, in which the ownership of the stock by Number Five is confirmed and the possession Of the stock and right to sell and locate the same and retain all the proceeds, is agreed to. It is provided that, if, after Number Five has constructed a canal irrigation and drainage system to the satisfaction of all her stockholders, 1 should there then remain any money on hand, derived from the sale and dispos- al of tie stock over and above what it ! has cost to build the canal and drainage system, then the moneys so left shall be div rl~d equally between Number Five and the California Development Go.
 Numher Five and all it's people are to l he congratulated on the outcome of the whole matter It has been long, hard l nu T for the Board of Directors and no less loyal CT determined set of men would | have stood up and battled for the rights nf their people under such bttef and l discouraging conditions. Now, however, i that victory is theirs and united and i harmonious people are behind them, a or at and glorious future opens before 1 the Ea~tside President Randolph has |, given the Number Five Board his per- 4nnal assurance of support and help in marketing their bonds This means that the bonds will be quickly sold and without discount. The money thus available will be used to put in first "lasS order the present canals of Mum Der Five and to build others to the new lands on which stock will be sold. The proceeds of the new stock will be used to build more canals as needed and to pay off the bonds at maturity. All this means that Number Five. wiH take on new life almost at once. There will be work to do and money to pay for 1t. The teams will go to the ditehes again, land will be leveled, new homes will be established, business will revive and the old time era of hustle and activity will return. The harmonious spirit shown by the people of Number Five in the hnal outcome of this matter bedes we'll + for the future ofthe Eastside United in one grand purpose, as they now are, and with th best Board of Directors of any Water Company in the valley as they now have. there is no reason to fear for the future of Eastside. To the rest of the people of our valley the action of Number Five is great benefit, too. Business activity, such as they will speedily have, will quickly spread over the whole valley for the spending of $l00. 900 in any part of our valley will greatly benefit the whole. We hail the outcome Tn Number Five as glad omen of the time when our Water Companies will become the great force tn our vs}fey and the people will be united and har-. monious and Osr development unSnter- rupted.
 Imperia,, Cal, Sept. 21, 1905. | i IMPERIAL. PRESS: l