The San Francisco call., 1909-12-08
SPRING VALLEY
STOCK HOLDERS
ARE ExPfCTANT
Look Forward TO Division OF
S35.0OO,O00 Which City
May Pay for Plant
Ham Hall Submits Three Offers
Looking to Sale of His
Lake Eleanor Holdings

with the launching of the campaign
for the purchase Of Spring Valley the
stock holders of that corporation are
looking forward to the slicing of the
biggest melon the state has grown
Should the sale go through sS5.oo0,00o
would be available for distribution
After the bonds and the few debts have
been paid of the share holders will
take the remainder The bonds amount
10 sI7.S59, geo. leaving about s17,00o.00O
for the stock holders. There are 2S0,000
shares. Each share would, therefore
draw down SCI. In addition to this the
Spring Valley viii take the money i'm
pounded in the rate dispute. This viii
amount to about $500. 600, which Will
add another dollar TO each share. The
company has some money in bank and
ODDS and ends sufficient TO add at least
another dollar. Thus the interested par
ties are looking forward to about seS
share.
The stock has been very active of
late. X shot up as high as $50 Monday,
but was sold around s5l in yesterdays s
market There is much speculation in
the security and brokers are doing a
good business. Should the voters refuse
TO purchase the price of the stock will
naturally fall
HAM HALL MAKES OFFER
Three alternative offers to sell his
Lake Eleanor holdings and rights were
submitted yesterday by Ham Hall TO
the city authorities. Halls prices range
from 5000 600 10 81 0OO. 600. The tenders
4, - ear7I
an inspection and appraisement or
dered. Should the citys engineers de-
eide that the price is too high. the con-
demnatiOn proceedings already insti-
tuted in Tuolumne county will be
pressed TO a conclusion. Should an
agreement be reached with Hall the
suits in Tuolumne county viii be
dropped.
Hall was in conference with the rep
resentatives Of the administration in
the city engineers Office during the
morning hours. He was accompanied
by A. NJ Hunt. his engineer. Hunt has
acted as the city's expert on gas and
lighting properties. For the city there
We're present Supervisors Johnston,
Murphy and McLeran Assistant City
Attorney John T Nourse and City En-
gineer Marsden Manson. Halls three
offers were as follows:
]. For the water rights at Lake
Eleanor. Hall retaining the power priv
ileges. 100000.
=. For the water and power rights at
Lake Eleanor. 100000.
9. For Halls entire holdings. includ-
ing water and power rights and lands
al Lake Eleanor, Twin lakes and Kibbe
lake. sl.O00.000.
Engineer Hunt expressed the opinion
that with the expediture of a liberal
sum Halls holdings could be made ex-
ceedingly valuable.
FIRST OFFER NOT ENTERTAINED
The first offer was not seriously en-
tertained. 1t is the same offer that Hall
made a year ago. The city authorities
are not disposed to build dams for
water storage and then permit Hall to
reap the benefit in the form of power.
The second offer does not include Ger
tain lands that the city desires to ac-
quire The third offer includes more
than the city had planned to take over
in building the Sierra system. but it
provides new sources of water and
power
Hall operates under the name of the
Sierra ditch and water company. AL
though he has valuable holdings. he
has no permits from the federal gov
ernment for rights of way. without
these he can not go forward with the
development of his projects
The election commission met yester-
Gay and began preparations for the
water election. to be held January il.
The 300 booths will be allowed to re-
main so the people Will use the same
polling places as on November ,.