Mountain Home maverick. [volume] (Mountain Home, Idaho) 1906-1911, 1911-03-30
Condensed Statement Of Fact
OPEN LETTER BY THE ELMORE IRRIGATION COMPANY

issue more than half its stock until he is paid
Taking the local papers own figures Of
Hewttt's holdings, $4,000, mortgage. $685.
900 notes. $4,000 Cd acres water rights. the
Company feels that 1t has made a good bargain
to get all of this for sos 900. and have near
ly two years in which to pay
The attorney for the Company has copies
Of all contracts with Hewitt and any stock
holder may examine them by calling at his
Office
1t is absurd and ridiculous at this late date
to contend that Hewitt never loaned more
than $4,000 to the Great Western. When
the foreclosure suit was tried. there were OPP
posed to Hewitt the following attorneys
Judge Perky Judge Koelch, Messrs. Sullivan
Wyman. Wolfe. Howie and Watts These at
torneys each and all. made earnest effort
to secure evidence that Hewtts mortgage
was for a much greater amount than the
actual cash furnished, but in this effort they
failed. and the Court found that Hewitt has
actually loaned $4,000 and gave him judg-
ment for that amount with interest; it is
therefore now too late to question the am
cunt or validity of Hewtts claim.
What about the $125.OOO of stock that
f. d. Adams and his associates are to have?
In February. 1910. Mr. Adams. through
conversation with one, Will Mortrude, learn
ed of the conditions existing at Mountain
Home: the insolvency of the Great Western;
the failure to complete the system; the lit
igation tying up the system the serious con-
dltion of the settlers due to their failure
to get water. and the various other ills that
beset the people here Mr. Adams conceived
the idea that he could pull this thing out
of the hole; that he could unite the water
right holders into company they could take
the system over that he could end the litiga-
tion. finance the project and complete a sys-
tenn that would irrigate the lands of those
who held water rights under the Great West
ern system.
He secured from Mr.. Mortrude list of the
water right holders in Seattle and succeeded
in getting them together at a meeting. At
this meeting he laid his plans before them,
and urged them to organize a company along
the lines above suggested He proposed a
cash consideration for his work. but they
felt they were done making investments at
Mountain Home, and besides, they had lit
tie confidence that Adams could unite the
water right holders and put his plans on a
substantial basis. He then proposed to them
that if they would become stockholders OF
the company and join in his efforts to carry
the thing through. he would undertake it foi
block of the stock, and it was finally agreed
that he should have Is per cent of the cap
ital stock of the proposed company, he tC
perform all the legal services for the com
pany, unite the water right holders, and pro
mote the enterprise until segregation was
secured, the bonds placed and the system com
peted. Mr.. Adams was to employ counsel anC
assistance at his own expense, paying FOL
such services from his own stock.
Now let us be honest in this matter. Wha
was that stock worth when this agreemen
was made with Adams? Who beside him
self had any confidence in his success? Wh'
is there in this community that would have
given S25 for his entire block of stock AM
taken the job off his hands? Is 1t WORT
anything now? If it is it is because of thu
work done by Adams and his associates.
When Adams took that stock In paymen