The Parma herald. (Parma, Idaho) 1903-1917, 1911-08-24

| natural reservoir site. Our infoyna-
ton shows that large volume OF
water can be impounded therein at a
comparatively small expense Mr.
Hedden. engineer Of the project, has
made some examination with reference
to-it but not sufficient to give certain
and positive information with refer-
at our last meeting, il | recollect his
statements correctly, implies that II
would cost an additional $500 per
acre to use this lake as a reservoir in
| lieu of lowering the waters OF the big
lake five feet as proposed. We are
now ascertaining, at the expense Of
the state and not OF the district. the
correctness Of our ideas with refer
ence to using the waters OF the upper
lake and endeavoring to ascertain how
much of the water supply can be had
therefrom and what the additional
cost will be- believe from all the in
formation I have upon the subject
that even il costs 500 per acre foot
additional TO impound this water, still
the taking OF the water from the upper
lake will be cheaper to the district be-
cause | believe there will be that much
more expense entailed upon the dis
trict by the litigation mentioned and
the accruing damages that must be
paid if the upper lake scheme is aban-
doned and the big Payette Lake low
cred five feet as proposed. This mat
| ter will be definitely ascertained, how
ever, by our Investigations which, as
above stated, will be carried on with
out cost to the district
The estimated cost on the part OF
the district authorities is $74O0 per
acre for carrying water to the lands
in question. These lands in my judg-
ment will have an average value after
/ the water is brought to them OF $500
4 per acre. They can stand then a
! charge for water OF S74OO and. even
I II this estimate IS slightly increased
as Mr. Hedden thinks it would be, it
would cut but little figure If | re-
member his statements correctly his
estimate is that it would entail a cost
Of $500 per acre more Upon the pro-
| ject if the views of the land board
were carried ont in regard to using
the upper lake as a reservoir. This
raise is comparatively small and again
| say that in my judgment the cost of
the litigation and of damages over
and above the estimates made hereto
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| ng these lands to more than that ex-
tent if the original proposition was
| 'arried out and as | have stated be-
ore would defer the application of
/ he water for many years.
The third proposition. that OF OBJ
aiming money TO carry on the pro-
| 'osed work, is the most serious prob
| EN- confronting the district. The en-
4 ire cost as I understand it IS esti-
mated at something over six million
dollars. This is a large amount of
| money and necessarily means that il
must be obtained from capitalists out
\ ide of Idaho In order TO obtain
money in this large amount conditions
\ must be such as to absolutely satisfy
4 re capitalist that his investment is
afe under all circumstances. A great
cal OF the land in the district is still
overnment land, the ultimate title tc
hich is still vested in the govern
/ rent The patented lands in the dis
-ict have not been improved 10 a
reat extent The capitalist, there
ore, will figure out that il is the
1oney he must first put into the pro-
ct that will practically make his Sc
nrity for the investment. Such being
he case. we sDow from experience in
imilar matters thar even after the
lTties have been secured who have
he money and are willing TO PUT II
p that they viii insist on purchasing
he bonds AZ q sum greatly below their
ar value. There are SO many oppor-
unities Tor profitable investment in
he United States that III matters Of
his kind 1t Is Away expected that the
I onds will be discounted heavily by
| he purchasers The experience Of
/ he Carey act promoters has demon
! strated this fully in this state as their
bonds have not been Heated at an
average prize Of over 20 per cent on
The dollar and still the security offered
by the Carey act projects Is FULLY as
\ great from the standpoint OF the capi-
talist as the security offered BY the
district and IS generally considered
greater. When. however, all oppor-
tunity of litigation is removed and the
future OF the project Is assured by the
fact that the sentiment Of all the peo-
| pie interested Is IN favor of rs going
on, and where there is no opportunity
for resort 20 the courts By persons
claiming TO be injuriously affected by
the enterprise. capitalists will regard
il as making vast difference and will
more readily supply the money and
viii tsks az shs bonds - q mulch Ives