The daily sentinel., 1913-01-24
CIV. v. U. ANNUAL REPORT
Continued from Page ~

j
at this time in knowing the present
situation and the prospects before
the association than you are in past
history.
AS stated, construction work was
7 begun October %, 1912, and has
been carried on continuously since.
Work is being done at both ends of
tunnel No. /. So far only hand
work has been done. but the power
plant and compressors are nearly
ready for action, and it is expected
that machines will be at work within
ten days. With these machines the
work can be carried on four times as
rapidly as now.
One million seven hundred and
twenty-five thousand dollars (s1.-
725,000) of the reclamation fund
has been allotted to this project.
about 100000 of which has been
expended up to date in preliminary
and permanent surveys and other
work done by the government, for
rights of way, equipment and con-
struction work done. This leaves
more than 81 100000 available at
this time. With this fund available
there should be no question about
the incoming administration eontin-
uing the work without interruption.
Present Financial Situation of the
Association.
During the past four years the as
sociation has had its troubles. L
doubt whether any other legitimate
proposition has had more of them
some of them serious in the extreme;
some perhaps more disgusting than
serious. Constant careful attention
and work have been required to pro-
tect our interests and win the fight.
This has cost some money.
a careful considera tion of the eN-
penditures win show that the great
est economy consistent with good
business has been practiced. For eX-
ample: Your secretary has made
eight trips to Washington under the
direction of your board of directors
and cne while with the Chamber of
Commerce, at total cost of S1.S56
to the association. In making these
trips Al ,00O miles of railroad travel
was necessary, more than 60 days
time was consumed in travelling and
only a few days less than twelve
months was spent in Washington.
This is given simply to show that
COST has had consideration and
economy has been practiced in man
aging your affairs
Two assessments have been made
by the association against the lands
under the project-one of cents per
acre. made ON October 81, 1904, and
one of % cents per acre on March
10, 1908. The land owners had paid
into the treasury of the association
up to May IL, 1908, 81, 1,550.30, and
] the expenses up to that time amount-
ed to S2,013.36. Between the latter
date and November 30, 1912, ST.
In M n
owners, and since that date $344.70
has been received. The total re-
ceipts from the land owners to date
amount to 3,239.75. while the total
expenses reach the sum of $9,640.49.
| There is now on hand n cash balance
of S329.5S and a total Indebtedness
of $6,S21.32
| The question of taking care of this
Indebtedness and providing for ne
cessary expenditures in the future
has had very careful consideration
from your board of directors. After
considering several plans, it was de-
cided by unanimous vote TO submit
to this meeting n proposition favor
ing a small bond issue, the bonds to
be sold as money is needed to pay
the present Indebtedness and to meet
future expenses as they may arise.
1t is the opinion of the directors that
this is the best and most equitable
plan for financing the association at
this time. AS this question will be
open for discussion by the members
present | will not go into details
here.
Homestead Units.
Reports have been circulated for
some time past charging that influ-
ence has been brought to bear upon
certain government representatives
for the purpose of having the "Unit
of acreage to be allowed homestead
ers, made as low as twenty and ten
acres. / Just wish to say that these
reports have no foundation whatev-
er, | do not know who is responsible
! for them and it makes no difference.
there is no truth in them. ! am not
in position to give any official infor-
nation on this subject for | havn't
any to give. but | am going to ven
ture the prediction that not a single
unit will be cut below 40 acres, and
in many instances the unit will be
greater than that, and will say fur
ther that no one officially connected
with our Association has asked or
even suggested that the unit should
be made smaller.
| | believe the members of the Asso-
ciation may well congratulate them
selves at this time on the fact that
at last, after years of trials and
troubles the building of the High
Line Canal is finally under way with
assurance that it shall be continued
until its completion.
d. w. AuPPERLE, Secretary.