Cañon City record., 1907-01-24

contracted with Turnbull for
the purchase Of Garden Park
ranches and water rights.
This statement was greeted by the
heartiest cheers and applause. and
every stockholder present seemed to
feel that the greatest good fortune had
come TO him personally.
The strongest evidences OF confid-
ence In Mr.. Atwater and appreciation
OF his efforts TO bring the water rights
up to perfection was shown by the
stockholders.
The reports OF officers showed the
company to be In excellent condition,
and the prospects for the future are
bright Directors were elected as fol-
lows:
8. II. Atwater. Jesse Knowles. w.
C. James, W. ]. Lindenberger and j.
w. Emmerson. Mr.. Atwater was
elected president and treasurer, and
W C. james vice president. and J. w.
Emmerson secretary.
Tho announcement Mr., Atwater
made regarding the agreement to pur-
chase the Garden Park ranches is OF
Interest to every person In Canon
City. II means as much to the busi-
ness man on Main street as It does to
the stockholder under the ditch. for
Canon City will feel In the highest
degree the prosperity enjoyed by that
rich fruit growing section.
These water rights. together with
the reservoir systems. will give this
tract an abundance OF water and will
bring II up TO par with the Lincoln
Park and East Canon farms.
The purchase. however. depends on
the company raising good sum OF
money within a short time to make
the necessary cash payment
To cancel the present debts. to
make the purchase mentioned and to
make other improvements, the COM
pany has voted bond issue OF $175,-
600.
The bonds have not been sold but
no fear Is entertained Of making the
sale Of the bulk OF them in the east
after the proposition has been fairly
started.
1t will be necessary to dispose OF
close to $4,000 OF these bonds In
Canon City before the water rights
deal can be closed.
The bonds will draw Q per cent in
terest and will be as good an invest
ment and as well secured as the aver
age school warrant.
When the company finds subscribers
for this arst allotment the deal will
be closed and the ranches and water
rights transferred. The remaining
payments are secured on long time at
low interest, 10 the company is we'll
prepared to take care of itself In nice
shape pending the sale of the remain
der of the bonds. In fact the COM
pany is In just as good shape for the
present as II the bulk OF the Issue
had been subscribed.
Tho bonds will be purchased by
some who are seeking long time loans
as an investment, as on bonds per
cent IL considered good. Others who
can make more than per cent on
their money will buy them FIRST be-
cause they are safe but principally to
help along the proposition that will do
more for Canon City than any other
thing that has boen brought before 1t.
Mr.. Atwater says that number Of
people. including the banks. have al
ready subscribed for about $4,000 OF
the issue, and everybody to whom the
plans have been unfolded have been
most enthusiastic over the PROPOSE
ton.
For six years The Record has been
having moro or less to say about the
advantages that would accrue to this
city II this section could be properly
watered. During the past year or two
It has seemed more Imperative than
ever from the fact that tho bulk OF
the other watered lands about the
community had become occupied and
little chance remains except north OF
town for new comers 10 buy unim-
proved lands and develop them.
30 We congratulate those living and
owning property under the Park Cen.
~ Ditch and wish them the greatest