Arizona republican., 1906-03-24

! 7
 i've meetings that had been twice post | poned for good reasons, and took defi- 1 nite action in the matter of selling the l canal properties to the government. Resolutions were passed at each of the ! three meetings, authorizing the off ] cers of each company to dispose of the | company property at the prices set | upon each of the three canals by the | government commission of appraisal l While this move has been anticipated | by the Arizona Water company. which holds the controlling interest int he in - | dividual canals, in order to have har- mony of action it was necessary that these meetings be held that the minor l ity interests should be represented and give their consent, that titles might i be more readily and satisfactorily pass ed. C. J. Hall is the president of the MaricOpa canal and Lloyd B. Christy is the president of the Grand and Sat l River Valley canals, k. E. Miner, sec retary of all three of them.
 It will be remembered that the to- tai appraisal value of the three canals in question and the Water Power or Crosscut canal is s7S,9e3. The Arizo- ma Water company owns a one-third | interest in the Water Power canal, which would be S5,243.34. With this in
 terest yesterdays meeting had no con
 cern. but it did concern and include
 the other two-thirds interest in the
 Water Power canal. which is owned by the three old canals. The amounts
 authorized to be accepted from the
 government therefore, by yesterdays
 resolutions, were as follows:
 Salt River Valley canal with
 one-sixth interest in Water
 Power canal $19, 13O. .66
 Maricopa canal, with one-sixth
 interest in Water Power ca
 nal -..-...-.-.- 2S,SSI-66
 Grand canal, with one third
 interest in Water Power ca
 nal. :. :. :. .............. 25.781. .84
 Total .... .$f3, 66
 This with the third interest in the
 Water Power canal owned by the Ari-
 zona makes the total of the appraise-
 ment for the four smaller canass. The resolutions are necessarily very
 long, but are of interest to every stock holder of the lower canals. The fol- lowing is the resolution adopted by
 the Grand canal company. Those adopted by the other companies are identical. except for the changing of
 the names of the officers and the changing of the amounts, in accordance with the above data.
 NT1(AND CANA ttESOLO1 1lONS.
 Whereas, the United States govern ment. in and by a certain contract of purchase and sale entered into by and between it and Hiram R. Steele, repre- Tesenting certain bOndholders of the Arizona Water company, a corporation owning and operating the Arizona ca nal in the Salt River valley, Arizona, did on or about the 17th day of Feb
 ruary, 1906, agree upon the purchase and sale of the several canal systems ! at present situated and in operation in the Salt River valley, Arizona, and in and by said contract did evidence an intention and desire to purchase the said canal properties .5e;onging n
 their several subdivisions to the Arizo- | na Water company, the Salt River Val ley Canal company. the Grand Canal company, the MaricOpa Canal com pany and the Water Power Canal com
 pany. and did agree therein to pay for
 the said several properties, exclusive of the canal property of the Arizona Water company, the sum of $1S,993, which said sum is the total of the ap praised value of the said several canals as appraised by the appraisal commis- sion appointed by the said United States government. and as reported by said commission to the secretary of the interior on the 9th day of December. 1905, and which said appraised values 1 Exclusive of the appraised value of the canal property of the Arizona Water company are reported therein, re- | spectively, as follows:
 Maricopa canal appraised at..... S26, ,266 | Grand canal appraised at .. 20, ASS Salt River Valley Canal apprafs- ed at .--...------.--... 6,5oS The Water Power Canal apprais- l D. t5 Total e. ........ .........---S7 SIS. .993 And whereas. the said United States government has also in and by said contract, further agreed to purchase from the said Arizona Water company. it's canal property. which together with the aforesaid canals, forms the canal system by means of which the lands lying in the Salt Ri>-- Valley, Arizona,
 on the north side of Salt River are irrigated, and,
 Whereas. it is the sense of the stock holders of this corporation at this
 special meeting assembled, that all of
 the canal property of this corporation.
 hereinafter more specifically described,
 will be more readily brought to a state
 of efficiency and usefulness when placed under the control and transfer
 fed to the United States government,
 than could possibly be done through
 the limited resources or this corpora
 tion, and
 Whereas it is the sense of the stock
 holders of this corporation, at this special meeting assembled, that the ap- praised value of the canal property of this corporation, including its interest
 in the Water Power canal as herein
 after specified to-wit. 2S,SS7.66, and
 which forms part of the total S7S,99S, in said contract referred to as the pur- chase price Of all of said canal sys-
 tems (other than the Arizona canaD
 and which said canal property or this corporation includes the interest of this corporation in the Water Power canal and in the Joint Head of the Maricopa and Salt River Valley canals,