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

land inside your pasture. an indignant
mort gage wrote TO one OF these cattle
men. 1T must stopl'
If you don't want your land inside my
pasture was the reply, come and take
II out
Could the cattlemen be compelled TO re-
move the fence? Perhaps so, though II
would be tried before jury Of cattlemen.
There are no other people to act as jurors.
SO shrewd lawyers and spectators buy
the old mort gages Of the weary Eastern in
vestors for a song sometimes not 10 per
cent. of their face value; hunt up the original
makers Of the mortgage and get deed Tor
say SO more; compromise the taxes and
have the land clear Of incumbrance. Get
ting a half dozen squarters' Of 100 acres
each together, they have ranch, and II
sells for a profit making ample return for
their effort. The fastener loses.
favorite form Of draining money out OF
the Fast in frontier communities was by the
bond method. More than one town has
obtained funds for a sugar mill, gas well or
other experiment under the guise OF votin
Improvement bonds. The money was
needed 30 badly that IL was not always
spent entirely on the experiments shh9er'
and the bonds have often been defaulted,
Did the bondholders threaten TO take
possession Of a town when the place was
burdened beyond its strength in days OF
depression, All nght!' was the response.
we will move our houses on the town site
You can have the lots we leave behind.
Such bonds are generally compromised
but somebody loses. One woman dld
assert her rights and seized a SO, 900 school
house in town once promising, put Nhlcn
owing TO changes Of affairs dwindled TO less
thln fifty families. She does not know
what 10 do with il.
Probably the most costly experiments
for individual investors have been those
connected with irrigation enterprises. I'M,
CATION Is peculiar, In theory ~ ~ Oeyono
criticism The project OF turning rivers
over arid acres, and 80 insuring tremendous
crops appeals 10 every one; Il seems simple
and profitable But In a frontier country,
with all the various complications OF hasuly
made and laxly enforced legislation 70 con-
tend with, 10 say nothing Of rival claimants
for water supplies, IL becomes beTldering
and nerve racking undertaking Tor any
except the expert.
Thousands Of miles Of bitches and laterals
were constructed at vast expense In the
Arkansas valley without consideration that
tbe river is frequently a vide expanBe OF
drifting sand, across which the dRintiest
lady might walk without selling the sole OF
her shoe. The bOndholders back In Eastern
investment centres finally applied for, re,,
ceiyers or charged on tens OF thoIsahas OF
dollars 10 profit and loss For instance:
A few years ago a Chicago syndlo9t Re
undertook an irrigation investment IN Colo
RADIO sYou lust can't lose, was the argu-
ment OF the enthusiastic promoter who
vent 10 Chicago 20 Interview the CAPT
talists. 1T viii be like finding money 70
20 into It. -. J.
There was a beautiful valley lying IN
amid the mountains. On the other side
OF one Of the ranges was a stream. Inc
nroiect was to bring the stream 20 the
valley and sell the water TO the settlera,
who would homestead the unused Gov,
eminent land in the then uninhabited
valley. -.
The company was torrneo anu WI
bagan. A long tunnel was dug through
one OF the ranges; bitches, fumes and
laterals were constructed, and finally the
water came out into the valley-and the
settlers began TO take up the land.
But they did not buy much Water[thsy
were busy with other things Out In the
middle OF the valley was a square mile OF
land many feet higher than the valleys