The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-10

purpose, and the petition must come
from the majority Of the acreage in
the district At the election each cleo
tor is entitled TO cast one vote for
each acre of land or fraction thereof
owned by such elector. \ canvass Of
the district is now being made by y
committee appointed at meeting held
IN this place August l, the canvassers
carrying petition which the land
owners are requested to sign so that
an election can be called. This COM
mittee is headed by Bishop Henry w,
Ballard of Benson ward and owns q
large block OF the stock, the other mem
bers CT the committee being Brigham
Y Benson and Farley Merrill This
meeting TO be held in Trenton ward
Saturday,
Sale Of Delinquent Stock.
On Monday next sale of West
Cache Canal stock delinquent on as
sessment will occur, and this stock Kill
no doubt be bought up by the majority
stockholders. not that they need it 10
carry out their scheme, but 1t would
give them another cinch hold. The
land owners. the majority OF whom are
members OF the dominant church, would
like to retain control of tho canal. The
majority stockholders declare their in
less an irrigation district Is created
1t is coercion IN its worse form. The
threat 20 sell is being used for all 1t
is worth in order to get land owners
to sign the petition for yhe formation
of an irrigation district which 1t is
said would prevent the canal gong
into the hands of a private company;
The canal must be repaired 10
make these repairs according to the
engineer s estimate, will cost 100000.
This sum could be secured by another
bond issue, but that would thwart the
plans OF the schemers. hence every OBJ
stacle possible Will be thrown in the
way. An irrigation district is what
the schemers want.
What Would Follow.
The creation of such district would
mean the bonding or lien OF. $50 per
acre on the $4,000 acres OF land, an
involuntary mortgage upon every acre.
This done, those in the scheme would
divide as follows:
Canal stock, cost through options held
and through direct ownership, $4,000,
par value being $4,000; reconstruct.
ing the canal 100000; redemption Of
outstanding bonds, S125,000, the bonus
of S25. 600 being for interest on the
bonds not vet earned. This would give
profit OF $l25000 TO the majority
stoc ockholderS. In view that the original
estimate for the canal was $4,000 and
that this was increased almost four
times. would indicate that the 100000
for reconstruction would be increased
to double that sum. or 100000, which
would dispose Of $465. 900 of the three
quarter million dollar bond issue.
AS to Water Rights.
In the taking over of the canal by
the district but one-half the water right
could be transferred, the other half
having been secured by the schemers
through assignment. Later ii would be
asccrtained that this other half was
absolutely necessary to irrigate the
land and the innocent (?) holders OF
this right might be induced to sell for
s250000. which they would, and thus
within a year the schemers would rake
in the nice little sum of $375,00 profit
on an investment of $4,000.
1t is believed that the scheme will
fail There are number of determined
men among the land holders who are
very pronounced against this proposed
conhscation of their homes. The meet
ing to be held here on Saturday next
gives promise Of being a very animated
one.