The Greeley tribune., 1911-01-19

creditors OF the Denver Reservoir
Irrigation company and OF its suLsI-
diary and allied COMPANIES. do here
by agree and accept all OF the terms
and conditions OF said offer and lur-
ther agree:
THAT, when the district court in
and for the city and county OF Den
YER. state OF Colorado, has entered
an order of consolidation affecting
all pending mechanics lien foreelCs-
use suits pertaining to the Stnndley
lake irrigation system or any portion
thereof. and fixing the time in which
the parties thereto shlll answer
agree to abide by and comply with
the terms of said order, and will
postpone the time y, payment of
their respective claims. both as to
principal and interest, until the date
so fixed for answering, or until there
has been delivered in accordance
with the provisions OF said offer. in
payment of said advances to be made
Henrylyn irrigation district, bon Is
and land sales contracts in said Of
rer mentioned; provided. however,
that nothing herein contained shall
be constructed as affecting the rela-
tive rights of creditors, as between
themselv es. or as against the Denver
Reservoir Irrigation company, or any
OF it's subsidiary or allied companies
Dated. Denver. Colorado. Janu-
airy IL, A. d. 1911"
To Finish This \ ear
A contract calling for the delivery
of the amount of the loan under the
conditions, which have been com
piled with. was signed by Keneilck
and the other emissaries who went
to Paris. Under this contract Kene-
fick promises to complete the project
in 1911. His contract with the
Henrylyn irrigation district. which
will also be watered by the project.
and whose bonds to the extent OF
81 100000 have been sold for the
purpose OF contributing to the finish
ing OF the work, contains the same
specification.
The Kenefick company is able to
complete the work within the time
specified, in the opinion of its engi
neers. The company has an enorm-
Gus construction outfit at Standley
lake, and will proceed at once upon
the receipt of the s2,O0O.o00 loan
This lake, made by the largest arti-
fetal dam in the world, will contain
100000 acre feet of water when
completed. 1t is now 90 per cent
completed.
For its accommodation in purchas-
ing the bonds OF the reservoir com
pany, the French bank will receive
81. 100000 Of the 100000 capi-
has but little value now, but 1t is ex-
pected to appreciate rapidly from
this time forward
The Denver Reservoir company
owns $4,000 acres OF land under this
project. This land will be worth at
least 500 per acre when the water
is turned on. and will then represent.
It is said. value consevatively esti-
mated at $5.60O,0OO. The sale OF
this land will net sufficient money to
pay every obligation OF the company
| and will pay small dividend on
the stock. in liquidation, amounting
to probably IS or 90 per cent OF the
capital stock.
Debts Nearly Three Millions
The company's total debts are al
most three millions. One-half OF
this total is due the Kenefick-Quig-
ley-Russell Construction company.
which built the major portion OF the
works, and the TrowbridgeNiver
bond house. which financed the en-
terprise in the first place. Other
large creditors are the Colorado
Cement company, the Fitzgerald
company. Bowles brothers. Joseph
Osner. Bates & Rogers. and Philips
McGara and Ross-Whittaker. In the
case OF the two latter the debt OF the
reservoir company Is. respectively
sl50.00O and 100000.
| Inasmuch as the principal credi-
tors were the prime movers In the
reorganization. and. as It appears
that every effort has been made to
safeguard the smaller ones. the opin-
ion Is held generally that the big
project is about to be pushed finally
to completion.
The principal features of the
Standley project. with present and
ultimate capacities. are as follows:
| Pres. cap'y INT. cap'y
| Acre Ft Acre Ft.
Standley Lake 10000 100. 900
Barr Lake 900 $4,000
NSu.z r-n M onn xc nnn