Mountain Home maverick. [volume] (Mountain Home, Idaho) 1906-1911, 1911-03-30

tory. no different results could be
Obtained than through the Gilmore
Irrigation Company. it would all
mean about the same thing in the
end.
Should the system be condemned
end purchased for $4,000, as, has
been stated, the litigation would be
endless and result in failure for the
scheme, and by that time we would
all be lost. With $4,000 set aside
as a price for the system, the GER
tiicate holders would get far less
than so cents on the dollar with no
interest, Ben Query aud other lien
holders would get nothing, Mr. Hew-
tit would get nothing, all water rights
would be worthless and those most
interested here rendered antagonis-
tic to the scheme and litigation in
stituted to secure rights and the re-
suit, chaos.
Should the system be sold at a
fair value. 100000 to S150,OOO,
this sum would have to be paid with
in six months in cash before title
to the system would be secured.
Where would this money come from?
Through bonds? No company in the
world would loan that amount of
money on a system in the condition
of this one And, should the amount
be raised. another bond issue would
be necessary to improve and enlarge
the system, regulated on the propos-
ed operations of the district Where
would these. bonds be disposed Of?
The answer might be made that
should tie systemybe sold for $780,
600. under condemnation proceedings
the certificate holders, mortgage
holders and lien holders, might be
settled with on the same plan as that
proposed by the Gilmore Irrigation
Company. This would be impossible,
because there is nojstock ia a district
and nothing but cash is acceptable.
The question Of the promotion
stock has been raised and discussed
many times by as many people. III
anyone would stop and consider this
question seriously they would soon
become convinced that the.promotion
stock has not been made liberal
enough With all the litigation at
tached to the proposition, how much
or how seriously nobody knows,
where is the attorney that would
have attempted to organize this com
pany and make the scheme a sue
cess without large and a hand
some cash fee. unless it happened
to be an ambitious young attorney
like Mr.. Adams, who had much to
win and nothing to lose Consult any
attorney in the state of Idaho and he
will tell you that Mr.. Adams took
big chance in making his stock
worth one dollar share. When
this stock was issued to Mr.. Adams
for the promotion of the company 1t
was not worth the paper it was writ
ten on. How many in this commun-
ity would have taken it for pay, for
several years services in organizing
this company and placing Mountain
Home under the Carey Act? There
is not one. Further, Mr.. Adams and
his associates have repeatedly Of
fered to turn all their stock back in
to the company and take cash for
their services, but the company has
been unable to accept this proposal.
If this stock is so valuable you, who
are knocking this point, go out and
purchase the stock at less than half
of par and you can double your mon
ey and get just as much out of this
scheme as the promoters and not
use an atom Of effort. while the pro-
moters will be giving their time and
best efforts for the next ten years.
This promotion knocking savors of
the curbstone and has no place in
the future success and prosperity of
Mountain Home.
An honest discussion of the affairs
of the Elmore Irrigation Company is
to be encouraged, but a desire to in