The Parker post., 1912-09-14
TERMS ASKED
BY WATER co.
WILL SELL THIRTY THOUSAND
SHARES OF STOCK TO MUTUAL
COMPANY AT $40 PER SHARE,
TO BE PAID AS SOLD.

BLYTHE, Calf Sept. 12.-Mem-
bers of the executive com
mittee of the Palo Verde Valley Mutt
ual Improvement Association have
just made public the terms on which
the Palo Verde Land & Water com
pany has agreed to turn over it's con-
trol of water stock to the Mutual Wa
ter company.
The proposition is this: Of the
original 10000 shares of stock in the
Mutual Water company, the Land &
Water company retained $4,000 Thir
ty thousand of these have been sub
Scribed for the use of lands held on
sold by this company The other
thirty Thousand it holds as unaub
scribed and worcestershire stock.
The Land & Water company asks
that it be allowed to retain the 80
900 shares of stock already sub
scribed and that it be paid at the
rate of $40 share for the remaining
10000 shares. The company further
agrees to accept this $40 share as
fast as the stock is sold and that
where sold ON an inStallment plan
it shall receive the last ten dollars
paid in. The Mutual Water company
may have the privilege of selling the
stock at whatever price it desires SO
long as the Land & Water company
pany states that it will require the
$500 200 received from the sale OF
these shares to reimburse it for its
original investment in putting in
bitches, headgates, securing rights
and rights-of-way and maintaining the
system up to the time of the organi-
zatlon OF the Mutual Water company.
Whether this p9 pposition is accept
able to the settles is 20 be deternain-
ed at the Palo Verde mass meeting
to be held in Blythe September
81. AT that time amost of the Off
GERS and stockholders of both Palo
Verde Land & Water company and
the Mutual company will be present
together with practically all of the
land holders in the valley
The committee appointed at a re-
cent meeting of the Mutual Water
company stockholders here in the val
ley has made an investigation of
the company's books at ONnard and
will be prepared to furnish the rec
ords showing the original expendi-
lures of the Land & Water company
in installing the system. 1t can be
largely determined from this data
whether the price asked by the Land
& Water company is reasonable. This
committee consisted of Ed. F. VIII
The committee was accompanied to
Oxnard by H. M Fraser who is rec
ognized as one of the best account
ants in Los Angeles.
1t is stated that the executive com
mittee of the improvement aSSOcia
ton will recommend a temporary re-
organization of the present company
in order to settle the immediate diff
ficulties and provide ample water
supply until action can be taken
toward the formation of district.
Ed. F. Williams, chairman of the
executive committee, who just re-
turned from Los Angeles is most Op-
timistic regarding the outcome of the
present situation He states that
the committees working in Los Ange-
les have spared no effort to de-
ermine the best course. Most of
these committeeman are prominent
business men but worked necessarily
on the duties assigned them. Mr..
Williams is confident that there will
be no difficulty in coming to terms
with the company and that it is but
matter of but a few weeks until
the water system will be in a most
efficient condition with plenty of wa
ter for ALL
COTTON PICKING STARTED.
The first cotton to be picked in
the valley this season was at the
ranch of r. f. Hopkins last week.
when Frank Bascom brought in $50
pounds as result of an afternoons
work. Friday Bascom picked over
800 pounds, which is considered a
son. Picking is to be continued on
the Hopkins ranch and the cotton
will be piled on the ground until the
gin is started With one or two ex-
ceptions the growers will wait until
the middle of September to begin
active work i'm the cotton fields.