Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1909-02-15
STOCKHOLDERS ELECT
NEW DIRECTORATE
Confidence Expressed In John P
Wagner BY Sacramento Valley Ir-
riqation Company.

The amman meeting of the Sacra.
mento Valley Irrigation Company was
held at ORC Grande, Otero county, on
Saturday of last week. This company
has recently played a very prominent
part in the public eye, especially in
New Mexico, on account Of the tanglc
into which its affairs have fallen, ii
having been placed in the hands of
a receiver twice during nine months
last year. The stockholders, claim.
ing TO be the legitimate owners, on
September "A, 1908, placed at the head
OF the organization John p. Wagner,
with a view OF Strengthening out the
company's affairs and to sift the
causes that led to the company being
placed in the hands OF a receiver twice
in succession. AS large amount of
money, approximately 100000 in
cash, had been paid for the stock and
apparently, according to the books,
there were outstanding half million
dollars worth of stock with no appar-
ent showing made for the money adj
vanced. There has been interesting liti-
cation inaugurated during the past
few months by Mr.. Wagner on behalf
of the stockholders who have invested
Their money in the project. The op-
pOnents of this reorganization as well
as certain promoters interested in the
project, were not present at the meet
ing, but Mr.. Wagner and those who
were present, personally and by proxy,
represented over two-thirds Of shares
of the capital stock, and from the par
ticipation of the twenty-five or more
stockholders present, it was apparent
that they had every confidence in Mr.
Wagner and that he would succeed in
restoring to the company all the as
sets fcr which they are contending.
New directors and Officers were
elected and as expressed by one or the
stockholders who was present at the
meeting, the company is now in the
hands of men who are capable of
conducting the affairs of a business
enterprise. The stockholders look for
ward with confidence to the adjust
ment of the company's affairs within
the near future and the development
of its project.
The board of directors is now COM
posed of John P. Wagner, Santa Fe;
DR.. w. L. Bulls, Allerton, Iowa;
A. G. Widmer, Centerville, Iowa; A.
C. Palmer, Alamogordoo; F. d. Pei
letter. Kansas City, Mo-; Joseph E.
Campbell, Kansas City, Mo-; George
7. Kimple, Dog Canon, Otero county.
The officers of the company now are:
J. P. Wagner, president; DR.. W. L"
Bulls, vicepresident; A. G. Widmer,
secetary F. D. Pelletier, treasurer.
Mr.. Wagner said to that it is his
intention to place the company on a
legitimate business basis and that he
will carry on the litigation which is
now pending and start such other litl
cation as may be necessary to BRING
about an adjustment of the rights TO
which the company is entitled, when
in view of the injunction granted by
the court. this can be done; and that
he will fight the cases against the
stockholders adversaries until equity
and Justice have been done to those
who have been inductd to invest in
the enterprise and put up their money
in good faith. Mr.. Wagner is further
convinced that the project is good
one: that its realization would be OF
much importance to the Sacramento
Valley, the property of the company
being located about fourteen miles
south of Alamogordo. The develop
ment of this enterprise, will mean a
great deal for the future growth ana
prosperity of Otero county and to Ala
mogordo and surroundings particular
ly, not to speak of the advantages 10
the territory in general, as many SUD-
stantial farmers will locate and take
ND land under the proposed lrrlSa-
ton system.