Semi-weekly herald., 1909-10-18
EDEN DITCH BONDS ARE
PLACED WITH BANKING FIRM

Aztec Index.
The building OF the canal of the
Eden Canal. Land md Power com
pany Is now reality. and the people
may expect an announcement in the
near future that the actual construc.
ton work on this great enterprise hns
commenced Negotiations which
have extended over period OF sev.
eral years with leading financial in
stitutions the country over have at
last borne fruit. the bonds have been
placed, and everything points to
briilian future, not only for this com,
pany but for the entire county.
The building of canal OF the size
contemplated by the Eden company
necessitntes the expenditure OF many
hundreds of thousands OF dollars,
Owing TO the financial stringency this
money has been doubly hard to se-
cure and by thus securing II the Eden
company is assured that their propo-
sltion is good one, not only to them
selves but that II will stand the strict
est investigation from any financial in
stitution.
Several weeks ago Mr.. w. Goff
Block, vice president OF this company
received word that n an extension OF
time could be secured on the watcr
appropriation that New York finan-
cial institution. which ranks at the
top. wonld handle these bonds, but
that could not do 80 without an ex.
tension With nffidavits to this state.
ment Mr.. Black made trip to Santa
Fc and interviewed the territorial en-.
gineer. who. after thorough inyesti-
CATION, decided TO grant this exten.
sion. Mr. Black was able to show
him where the Eden company had
spent over $4,000 ON the canal. where
they had at last secured their back.
Ing and that the only drawback to
this great work WAS the time limit.
With the proofs OF this In hand Mr..
Sullivan saw NJ TO grant the extension
asked.
An extension OF one year was grant.
ed but this does not mean the com.
pany Intends TO take advantage OF the
entire period. Actual construction IL
expected to start in much shorter
period and the work VIII be rushed
TO completion AS fast as possible
Competent engineers are now being
engaged, material is being gathered
and inside of six months the work will
nave commenced
The building OF this canal is the
greatest enterprise that this county
could ever have. thousands OF acres
OF fertile land will come under cult.
vation. the population OF the county
VIII be mere than doubled In a short
time and the greatest fruit and farm.
Ing section in New Mexico will come
into its own.
Both the east side and west side
extensions of the canal will be built.
The land under them Is estimated to
be In the neighborhood <'cf 100. 900
acres. or course all OF this land can.
not be irrigated but in the neighbor.
hoou OF fo.o00 acres may be. The
length OF the west side canal viii b.
in the neighborLood OF forty miles
while that of the east side extension
VIII be possibly thirty miles.
The headquarters OF this company
win remain at Aztec. all work VIM be
directed from This point and many
thousands OF dollars must pasa
through the hands OF our merchants
or the local bank
(, The Index can see no shssis ahead
OF the project. Everything fojns
smoothly and We hope 1t viii costiaue
so. The proposition has the good vii
OF our citizens and anything that thsy
can do for this company Will b chssr.
fully done. IS "a = = Z Z
Hurrah for the ndea canal, ~ ~
San Juan and hlgesr Astesl z,