The Greeley tribune., 1908-10-21

charge of this work on the big en-
terprise, and who has successfully
organized the Bijou Irrigation dis
trict, the Riverside and other Cam
field enterprises.
Mr.. Camfeld himself, having am
pie means at his disposal takes the
bonds of the district in return for
the completed irrigation system, and
sells the bonds in the open market,
or keeps these to draw interest as
he desires. That in brief is the man
ner in which such enterprises are
planned and financed For the con-
struction work, Mr.. Camiield keeps
constantly employed a large corps of
expert irrigation engineers, besides
the legal department and other office
! help. 1t is a private reclamation
/ service of wonderful efficacy, and
one that has reclaimed more land
now than the United States govern
ment and at an expense of only
small part of the government outlay
for the reclamation of a smaller
| area.
How 1t Pays.
Now, the final question, does it
pay?
Does 1t pay to transform land that
was five years ago sold for $1.5O an
acre, into land that will sell for 500
an acre as soon as the water comes,
ana the first crop is put in? This
question is sufficient answer. But
let us figure it a different way Mr.
I Camheld has already reclaimed sew
eral hundred thousand acres of raw
| land and this has been done at an
average cost of $500 per acre.
That would be $1,O4O for an eighty
Tho nh
We're, however, much more favorable
for the construction of those enter
prises than in the present one. There
| were no mountains to tunnel, nor
eighty miles of exceedingly eypen-
sive ditch to build in the mountains.
But even with these difficulties to
be overcome, the reclaiming Of the
land under the new system will only
be S34 an acre, and with the first
two and half years interest on the
bonds, which the company pays, it
Will cost only $40 an acre. This in
terest is paid by the company, in Or
der that the settler may have plenty
of time to break up his land, harvest
one or two, and possibly three crops
before he has any expense on the
water system.
That will bring cost of the water
and two and a half years interest
up to $4,000 for an eighty-acre farm,
which will be worth, without any
other improvements, $4,000.
That is not the only desirable
: feature about this method of financ-
, ing irrigation enterprises. Irriga-
tion district bonds run for twenty
- years. The first ten years only the
5 interest, six or seven per cent, as
, the case may be, need be paid. AT
+ ter that one-tenth of the principal
a must be paid. In other words, the
9 land owner in an irrigation district
+ can borrow at six or seven per cent.
- the money needed to buy ample wat
er for his farm and have twenty
h years in which to pay back the loan.
: \ Summing Up.
/, That. we believe is a fairly clear
Y description of one irrigation project
r now being carried on in Weld and
II Larimer counties. Colorado, that will
k reclaim not less than l25.000 of land
$ that is at present practically a waste.
le The present irrigated area in Weld
m county is 231 600 acres. 1t will thus
at be seen that this land Will add not
less than fifty per cent. to the pres
n ent rich and productive country
n The old area supports population
l. OF over 10000. and can support three
l. or four times that many people.
p But even at the present density Of
5 population in the Greeley district,
> the new district will be able to sup
i port we'll. 4 population of from 20.
Il 600 to $4,000.
The influx of new people to the
e new country will also tend TO rapid
70 ly increase in population the older
sections OF Weld county. The city
5 of Greeley, the county seat, will be
. greatly benefited by the acquisition
! of new territory. New towns will
- spring up in the reclaimed regions
% and more general prosperity will
S result One town is already located
. within the boundaries that will form
@ the new district, planted there before
. there was much prospect of ditch
/ higher up on the slopes of the Cache
, Ia Poudre valley.
Does it pay? Well, yes, when
great tract of waste land. at an eN-
, pense of $3,5OO,O0O is made to be
5 worth from 100000 to $4,000.
GOO without any other improvements
, than bitches and water, it may be
said to pay.