Semi-weekly herald., 1910-09-05
when Mr.. Roosevelt's coming is di-
vested of any and all political sugniii-
ENGINEER HENDERSON
EXPLAINS SITUATION

H. T. Henderson returned Thurs
day from trip to Chicago where he
went TO dispose of the bonds for the
Orchard Mesa project, big irriga-
ton proposition, covering 1900 acres
of land in San Juan county, New Mex
leo. and involving an expenditure OF
$3.50 900. The bonds were sold to Chi
cago parties and Mr.. Henderson and
his associates are now ready TO com
mence actual construction. The COM
pany expects to get the locating en-
eineers started by the last of next
week.
So large project, which makes pos
sibIe the cultivation of some of the
best and most fertile land in San
Juan county, before unavailable on ac-
count of its location, Is Of great i'm
portance to this entire district. The
lands comprise the high mesas lying
north of Pennington. extending as far
as and opposite to Aztec. Any one
familiar with that part of the Animas
valley will recall the luxuriance of
the grass which springs up on the
mesas after a day or two of gentle
rain, such as occasionally occurs in
the month of June and July. IL is graf
flying to all of us to know that so
many acres of fine land will now be
available for orchards.
Mr.. Henderson said that the money
market which has been very close
during the summer months, is now
improving rapidly and persons, who a
short time ago, refused to consider
any project demanding the use of cap
ital, are now looking for investments.
The threatened panic has been averted
and all danger of anything of the kind
seems to have passed. Those familiar
pede in the stock market when the
drop in certain high-priced stocks
would enable those with money to in
vest to purchase them at a compara-
lively low rate, This condition could
be produced by the heavy depositors
in banks holding their money there
idle in order to invest the same in
stocks and bonds when the stock
should fall. The banks. anticipating a
heavy run, began to call in their loans
and as result money was scarce this
past summer. This stringency is now
a thing of the past. The looked-for
stampede of the market did not occur
and capital is once more being de-
Elected along the various lines of bust
ness.
When asked in regard TO the Carey
act lands. Mr.. Henderson said that at
present matters were at a standstill
The state land board in the past were
under the impression that the contract
held by the company promoting the
project was complete. but the high
legal authority consulted have decided
that the contract is incomplete until
the government has approved the prop.
osition. The state has taken the mat.
tel up with the government and there
Is nothing to prevent construction
commencing as soon as the department
at Washington can be induced to act.
The fact that a number of persons
keep writing letters to Washington
objecting to the proposition delays ac
ton still further. On account OF the
many troubles, such as over coal
lands, the Pinchot-Ballinge controver.
sy. etc, which have come up, the de-
partment at Washington is afraid to
take action in favor of any project to
which there is any objection. They
have simply avoided making any de-
cision until the facts could be care
fully examined and the objections
studied.
C. w. Wells, the government engi-
neer, made "A very favorable report on
the Carey lands, more favorable than
that of the engineers for the company
intended Tor use in selling the bonds.
The project is all right, and nothing
hinders construction than the delay of
the department at Washington to take
action.
There seems to be no way under
the law by which the state land board
can return the money to persons buy
ing any of the tracts. The law pro
vides only for the completion of the
project and does not contemplate the
return of the money. Possibly after
a number of years. the money could
be returned by. a process in equity.
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