Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1910-09-28
Must Safeguard Securities

ny Associated Press.
Pueblo, colo. Sept 27-Irank G.
Cloudy In his address before the Ma
tona Irrigation COngrOss mere todny
said in part
NO adequate provision has been
made in many OF the states for pro-
tecting ANA enforcing the decrced
prlorties, Great wrongs and lrre-
parable injury have been permitted be-
cause our Legislature has nor seen NJ
to enact a code OF laws capable OF be-
Ing vigorously enforced ana making
It the duty Of either the governor Of
the ,state or engineer TO 50 enforce
such laWs ON the other hand, our
, courts are sometimes presided over
by men who seem To have very little
appreciation Of The value Of water
/ right and who Fave in somc cases
! issued lniunctions based upon ms
leading statements, or upon statements
not sufficient tn warrant the granting
of temporary or permanent writ OF
injunction. which orders have deprlv-
ed people OF the use of water to which
they were lawfully entitled under such
DEGREES, until the case could he re-
moved to our supreme court for cor
rectiOn In spite of all these things
In spite of proper protection. rriga-
tion by private enterprise has made
wonderful strides, and its growth ana
development have done more to make
this part of the West wealthy ana
prosperous than all other enterprises
combined.
Now that the reclamation Of lands
In the arid section ~ being largely
undertaken by and through The instrn-
mentality Of irrigation districts, the
people of this section of the country
must see to n ,hat in the issuing and
| floating of such securities among peo-
pie In other sections Of the country
they are duly and properly safe
guarded
"The construction OF system OF
water works for irrigation purposes
should not be authorized until the
, same has been thoroughly investl
gated and approved bv the state en-
gineer or his representatives. No
investor In irrigation district bonds
should be- mlsled aud so far ns the
banks and large corporations dealing
In such bonds are concerned, they
always have the means of acquiring
J run information as 10 what Va behind
an irrigation security before they pur-
chase the same, and II any Of them
are dupcd or mlscd, II viii be because
they have not exercised good business
judgment in properly advising them
selves.
First, as to whether there ls a
water supply ample to the lands pro-
posed to be- covered by such system.
Second, as to whether the land pro-
posed to ho reclaimed is fertile and
capable OF being reduced to agrlcul-
Itural purposes
Third. whether the cost OF the sys-
] t.t Ia ..VAaDaItsas that 10 NNbaIh hlr IL
ss so great as to be beyond the ability
OF the farmers who viii operate the
lands under such system to meet ana
| pay
ron the other hand. speaking for
the preservation of the integrity ana
honesty Of the people OF this arid Sec
tion, ! desire 10 admonish all present
at this great congress that II ls our
duty to zee TO II that proper safe
guards are thrown around the crea-
tlon of irrigation districts and for
that matter the creation OF irrigation
companies, so that the investing pub
| lie may not be mlsled or duped into
| purchasing worthless securities We
, an know that many INSCRIPTIONS men
have made fortunes by selling broad
cast throughout the land mining
bonds and stocks supposed 90 be based
/
many so-caled land and irrigation
companies have perpetrated swndles
that ought To shame every American
citizen. by buying mp large tracts ot
worthless lands and sending out glow
ing prospectuses. that have caused
many wage earners, many echoot
teachers. many clerks ana other peo-
pie with small salaries or incomes. 10
invest their all In such scheme, hop
ing to increase their worldly holdings
hy becoming the owner OF piece of
land that is supposed 10 be so located
and To be of such quality and with
sufficient water to Justify the invest
mont Without daslring 20 clrtlclse
the postal service Of the United states
Government. | do not hesitate IN say
ing that many swindling land schemes
have been operated through the use
Of the United states maih+ nnd which
believe could have been headed on
and many people saved the loss OF