Imperial Valley press., 1910-06-04
WATER COMPANIES PLEDGE FUNDS ID RECEIVER FOR CON
 SEDUCTION OF NEW INTAKE FROM COLORADO RIVER
Col HOabird Asks Mutual Companies to Invest Half Million in Certificates to Pay For Building Readworks and For Putting River Back Into Its Chan
 neI. Work To Be Started
 Next Week.

property, would bear interest at sev- en per cent and would represent so much of the ultimate purchase price.
 Col. Holabird exhibited map show ing the proposed work The present intake he explained, is at the wrong place and at the wrong angle to the river and serves as catchbasin for drift and silt. The new intake would be a mile and quarter long and could be made available in thirty days. The levee along the river bank f below would be twenty-fiv or thirty miles long, would put the river back into it's old channel and stop reces- sion of the grade.
 In the discussion that followed, the Southern Pacifics motives for refusing to supply money were questioned, and doubt of the ability of the settlers to raise the necessary funds was ex- pressed by directors of No. 1 one of whom was very pessimistic and sus- picious and intimated that he was ready to walk out of the valley. Views of that sort were combatted vigorous ly by the directors of other compan- ies and by w. F. Holt
 l MT. Holt said one of the reasons for the railroads attitude was that liti- gants seeking to have the receiver ship set aside were alleging that the Southern Pacific was buying receivers certificates in order to get control of the c. D. Company and squeeze out the stockholders He had tried to get | the railroad to put up money to meet emergencies in the valley, and had found feeling among the officers of the company that the people of the valley were not disposed to help them selves enough All engineers were ] agreed that the river must be con- trolled and that settled the question with the speaker. The certificates he regarded as gilt-edge investments for ] the water companies.
 "The farmers are not going to walk out of the valley" said MT. Holt. They can raise the money when they make up their minds to do so, and they are not the sort of people to give up and walk out. It is all foolishness to say that you can't raise half a million dol lars in this valley. The people here have shown that they can do any thing. The security is good and there is no such thing as not being able to raise the money The only question is: ''Is it necessary to do the work?" There is nothing in any other point. It is bad for people to depend upon others and to figure that they are going to be taken care of like child ren. Let them get up and do some- thing. When the people of this val ley demonstrate that they are able and willing to do things for them selves, the credit of the community will be vastly improved. The govern ment, also, is more likely to help the people than to help the railroad"
 Messrs Holloway, Rockwood, Ed gar, Bond, Peterson, McPherrin, Para zette and others spoke in similar spirit, and county Engineer Perry, re- plying to questions, said the only way to safeguard the valley was to put the river back into its bed and keep it there. All other work was make shift. The water in the delta has fallen five feet within few days, and the roar of the overpour cutting back the Abejos is warning that should be understood by those who were here when the flood was cutting New Riv- CT gorge.
 A recess was taken for consulta- tion and then the companies were called upon for their decision. No 1 reported adversely to an assess ment of stock, asked for delay to await reports of engineers and favor ed raising money on notes secured by receivers certificates.
 No. 1.-The work is necessary and we will take care of our part of the expense.
 (ConcluAad on mage m