The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1913-12-19

VII last Iludy evening IleeIiHS
was held at the Perrine hotel between
committee representing the bond
holders of the Salmon project and a
number Of directors of the Water
Users Association of the Salmon tract
The meeting was arranged by the
bond holders with the view of begin
ming negotiations which will result in
the settlement of the difficulties be-
tween the settlers and the company.
After considerable discussion a tenta-
tive proposition was drawn up between
the two interests and it was agreed
that the same should be submitted to
the bond holders and to the settlers
with the view of securing it's adoption.
The plan is that the secretary of the
interior and the state land board shall
first determine the amount of acreage
which can be profitably served by the
system, after which the segregation
shall be cut down to that size and all
of the land to be served placed in a
compact body. The water contract
for all lands lying outside of this
amended segregation shall be can
celled and the bond holders given the
right of all entry of lands within the
amended segregation. In the event
that any damage accrues to the set
tier so changing his location he is to
be reimbursed and in cases of differ
ence, the same to be determined by ar
bitration. The settler is to receive a
new contract which will waive all in
terest up to April /, 1915, after which
interest will run at the rate of six per
cent per annum and he be given fiji
teen years in which to make his pay
ments. In return for this the settler
agrees to pay proportional liability for
any damage accruing to the settlers
outside Of the segregation in the event
there should be an insufficient amount
to pay the bonded debt by reason
thereof and such liability not to ex-
ceed $1,000 per acre. 1t is thought
that taking into consideration the
amount saved the settler by the waiv-
ing of interest and the benefit derived
by extension of time and the indirect
benefit resulting from the settlement
of the difference between the settlers
and the company will more than COM
pensate the settlers by their agreement
to protect the bond holders to the eX-
tent of $1,000 per acre in the event
the cutting down of the tract should
affect the security of the bond. There
are a number of other provisions in
the proposal incidental to the main
objects mentioned above. The pro-
posal in detail is as follows:
Twin Falls, Ida, Dec. 13, 1913.
Mr.. A. c. Robinson, Chairman Bond
holders Subcommittee of the Sal
mon River Project.
Dear Sir. The Settlers Association,
representing the entrymen on said
project, knowing of the failure of the
kuhns and the Importance of a read
justment of the financial affairs per-
tanning to said project, and knowing
that you are the representative of the
bondholders holding the bonded obli
cations of said project, and under
standing that it is now proposed to
vest the operation and management
of said project in an organization of
said bondholders, or one to be named
by them, and for the purpose Of adjust
ing the conditions heretofore existing
between the Water company and the
settlers, propose:
| First-That we will accept title to
| the lands upon which we have respec-
| lively made filing at the earliest pos
sible time, and will assist in so far as
we are able in procuring the adjust
ment of the titles to said lands.
| Second-That our respective indebt-
edness for the purchase of water, or
any other outstanding indebtedness
which we individually may owe the
company. shall be funded into new
debt, for which we propose to give our
note secured by mortgage on our res
pective lands, the first interest pay
ment to be made April 1, 1915, at
per cent and annually thereafter, and
the payment of principal to commence
on April 1, 1917, and to be paid in an
nual installments over period of fif-
teen years, with the privilege, how
ever, Of paying the whole. or any part
thereof, at any time and canceling the
debt.
! Third-We believe the Salmon
River segregation includes more land
than can be profitably irrigated from
the supply of water available, and
propose that the segregation be re-
duced in size SO as to embrace no
larger area than can be profitably ir-
rigated, the size Of the segregation to
be determined by the state Carey act
land board OF Idaho, under the advice
and approval Of the secretary Of the
interior, and any entryman whose land
would be beyond the limits Of the new
boundary shall be entitled to select
LANDS within such boundary and have
applied thereon the amounts he may
have previously paid on his former