Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1913-12-19
KUHN INTERESTS LOSE
NORTH SIDE PROJECT
Bondholders Assume Control by
Failure in Interest Payments

TO the company, and that If the bond
holders expected to realize on their
! investments here some method must
be provided whereby the settlers
could be given an extension Of time on
their payments.
1T was along this line that the
discussion proceeded. it being the
desire of the committee that the
Canal Users Association prepare
proposition to be presented in writ
ing to the committee. dealing with
the matter Of extensions. In order
that some tentative agreement could
be reached as to what this PROPOSE
tion should contain, various ques-
tions relating to the tract were taken
up and discussed in the most
friendly spirit the committee show
ing desire to meet the settlers even
more than half way in the settle
ment Of the vexing trouble.
Mr.. Shepherd on behalf Of the
committee presented an outline on
the proposition Of extensions which
he thought the committee would be
willing to accept. He stated en-
phatically that it was the desire of
the committee to wash the slate
clean Of any past difficulties, and
commence anew, and to carry out
this plan all Indebtedness incurred
by the settlers against his land !
would be computed and placed in |
one obligation, the same to bear in |
terest at per cen. payable annually, |
no payment to be made on the princi- |
pal for five years. after which pay
ments on the principal would com
cence, gradually increasing each year,
until the tenth year, when the obli-
cation would be fully paid
"The general features of this ex-
tension of course met with the hearty
approval of the delegation, as we
believe they do with every land
holder on the tract. There are, how
aver, several details in connection
With 1t that had to be discussed, all
IF which were settled very satisfac-
.orily to all, excepting perhaps it be
n regard to the matter Of interest as
claimed in the Ransom case now in .
he hands OF Judge Walters for con-
liberation. This, however. we believe ,
will be satisfactorily settled as the
'ther details
'"The bondholders on their part
gree to complete the system as pro- 3
ided for in the contract. including 5
he completion of the Jackson Lake {
am. which means so much to the /,
-act sySE !
Not wishing to take the RESPONSE n
ility Of so great a question upon Q
,eir shoulders, the delegation thought :.
est to have full meeting of the n
oard5 together with some of the d
lost interested land holders on the d
act. and this meeting was held
onday at this place, being attended a
= land holders from Wendell ana
her portions of the tract and az u
hich meeting the action Of the board :, -
as approved, the members of the as ,
citation present showing their con- to
ierce in the directors by giving 81
EN- full power 10 proceed with the 10
after SO well commenced tn
while we believe there will be no m
ubt OF the carrying out of this &C
oposition. of course nothing definite ca
II be known until after the meet
: OF the general committee OF TIE bo
ndhoiders ON January nrst. at 81
iich time the sub committee sent Pa
re win submit their report. vi
The settlers have for some time en-
siized that true success could only In
ne 10 the tract through some sys- ms
n of extensions. through their as Sh
ore been made to bring about this ter
,dition but without success. and wi,
y that IL has every indication of ha'
ng realized. 1t should bring joy wo
the heart OF every man, woman Mo
child on the North Side tract as ]
h its consumation a new era of say
sperity win dawn upon us. as il pro
in opens up the field for investors wa
oh has practically been closed for STIR
past yea. or more The announce con