Daily independent. [volume] (Elko, Nev.) 188?-1915, 1913-03-29
PAc& RECLAMATION Co.
RECEIVER APPOINTED

been appointed receiver of the
Pacific Reclamation company. an
orga nization which has been re-
claiming q large acreage in Elko
county. New. The appointment was
made by Judge harrington Of the
Nevada Federal court at Carson
laat Friday on application Of Joseph
GutnIan of New York and about
thirty eastern men who through
stock, bond and note ownership
have been in control Of the COM
pany.
Mr.. Bacon is required 70 file a
bond in the sum of $4,000, and is
directed to take immediate posses-
sion Of every asset of the company,
which he is to "operate as a going
concern" .........
The Pacific Reclamation company
was organized in June 1909, for the
purpose Of reclaiming land in Elko
county. Ten thousand acres we're
segregated under the Carey act and
the intention was to increase the
amount to $4,000 acres. including
privately owned land, should the re.
quired amount of water be deve-
loped.
After about $500 acres had been
sold last spring and the storage
works practically completed, litiga-
tion was begun by ranchers of
Lovelocks in an effort to prove that
the company was not entitled to
store the flood waters it had appro
priated. This suit stopped sales
and as a result practically ended
the ability of the company to raise
money with which to proceed with
work. ....
The Metropolis Improvement
company, subsidiary company of
the VRAeific Reclamation company,
wetSC~ Ato receivership simulte ne
oussy with the parent organization.
The Improvement company owns
the toWsisite Of Metro polls, includ-
ing q motel, an electric light plant,
school house and most of the i'm
provements. in the town. This re
ceivership action was brought by
the same persons and Mr.. Bacon
was also named as q receiver.
The Pacific Reclamation COM
paoy has a capital Of $4OO. 900. The
Improvement company has $780,
1000 in stock and $500. 900 in bond 8
outstanding. The Reclamtion COM
pany has $4,000 in Notes out
standing and the Improvement
company owes $50, 900 in notes. The
stock of both companies It is un-
derstood. was not sold but distri-
butod among the stockholders as o
bohus. Mr.. Bacon has been con
nected with the company as It's
consulting engineer from the be-
ginning and last November became
its general manager. He was pre-
ceeded as general manager ny
Harold Siegel, who originated the
project. and o. C Ross.
When Mr.. Bacon was seen yes
terday. speaking unoificially, he said {:
There Ia no one connected with
either company who does not view
with extreme regret the stern ne
cessity which compelled this step.
The companies have not been sub.
ject to any misfortune peculiar to
themselves, except the action
brought by the Lovelock ranchers
affecting a part Of the water rights.
Last November q reasonable basis
Of compromise was reached by
wi h the matter could be settled
out Of court upon payment by the
reclamation company Of legal ex-
penses claimed to have been incur
red by the Lovelock ranchers. The
attorneys for the Lovelock ranchers
unfortunately could not out work
any satisfactory details Of this plan.
Another attempt at adjusting the
differences was made last week,
but when II was found that the
legal nv nnnann u,hinL the I Inualnnk