Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1913-12-19
CHANGE MEANS REHABlLITA
TON AND CAUSES REJoIc-
ING IN JEROME.

Victor o. Johnson of the law firm
Of Johnson & Haddock expects {,
visit New York about the first Of tht
year for the firm in the interest OF
the settlers on the North Side tract
The bondholders. who have taken
over the project since defaults in in
terest payments by the Kuhns, are to
be asked for new contract and
johnson expects to be able TO secure
the acceptance OF the demands which
the settlers have insisted upon,
greatly to their relief and beneht.
The North Side (Jerome) Times
tells of the recent developments of the
settlers case in the issue of this week:
Our readers will remember an arti-
Gle appearing in the Times about two
months ago. relative TO the visit to
the tract of parties representing quite
portion of those holding the bonds
of the North Side tract The full
significance of their visit was not
divulged at that time, though, in
conference with the directors of
the NorthSide Canal Users Associ-
alton 1t was brought ou: to a certain
extent the object of their visit, al
though at the time i, was not deemed
advisable to- make facts public.
"On the first day of November the
interest on these bonds became due
and 1t was quite evident at the time
of this visit that the Kuhns would
be in no position to meet the pay
ment of this interest, and in case
Of default it was the intention of
the bondholders to foreclose on their |
securities, and it was for the pur-
pose of investigating these securities |
that called for the visit of the gentle !
men.
The first of November arrived and |
with a default on the part of the |
Kuhns to meet the payment of the !
interest followed by a foreclosure
on the Fart of the bondholders.
Coming into possession of the
property. the next step was to ascer-
tain what was for the best interests
of all concerned, the settlers on the
tract as well as the bondholders. A
general committee was appointed
by the bondholders and several
weeks have been spent in formulat-
ing plan to work upon. At a re-
cent meeting of the full committee
held in New York. a sub committee
was appointed to investigate and |
ascertain the best practical manner I
n which the irrigation projects |
,ould be handled
.'On last Thursday morning a teIe- r
'hone message was received by Sec I
etary Alexander OF the Canal Users \
association asking that a committee h
+ the directors of the association o
isit Miner for the purpose of con- y
erring with a committee from the =
ondhoiders. with view Of discussing .
matters pertaining to this tract G
AZ 'cSPotSt W tnlS request, frSSi- I II
ent Rice and Secretary Alexander n
this place. Messrs. Wilcox and
jarrett of Wendell, L c. Humphrey d
Appleton and Attorney johnson o
ShoshoDe. proceeded to Miner "
here they were met by a commit ir
se consisting OF Mr.. r. &. Ehep- b.
erd OF Billings. Mont. who seemed W
, be spokesman for the committee. h.
,e other members being ". Pue,-
her and Mr.. Macham of Milwau- re
ee, Wis. Mr.. Alexander c. Robin cc
IN Of Pittsburg. Pa, and Mr.. Ross te
Sacramento. Cal. all of these gem so
emen being connected with banks to
Loan and Trust companies who co
sd been instrumental in floating no
ese bonds. be
The delegation from the North to
de was most heartily received BY an
is committee and discussion at wi
ce commenced on matters per- pr
ming TO this section. 1t became az
gnizant to Mr.. Shepherd and other WI
'mhers OF the colamittee who vis- ia,
g tie tract N September that tHs me
ttf5 here as g rule were nO5 Ia rI