The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1914-01-06
SETTLERS MAKE PROPOSITION
Continued from Page ~

OF the interior, and all entrymen now
holding lands, not subject to contest,
shall have the right to surrender such
lands and to make entry of other
lands in lieu thereof within the
amended segregation, and each and all
of the said entrymen holding lands,
not subject to contest, who surrenders
the same voluntarily or exchanges for
lands within the amended segregation
shall be entitled to be reimbursed for
any reasonable damages accruing to
| them by reason of such surrender or
exchange, same to be paid from the
| fund to be created as herein provided;
| that in the event an agreement can
not be made between the representa-
tives Of the operating company and
| the settlers so damaged the same
shall be left to arbitration, one arbi-
| traitor to be selected by the person
damaged, one by the board of directors
of the Canal company, and one by the
representatives of the bondholders,
that the fund for the payment of the
said damages shall be in the first in
stance advanced by the bondholders
and the bondholders shall be liable
| therefor, provided that if in the work
ing out of the said project there
should be loss to the bondholderS by
reason of the payment of damages, the
settlers shall, reimburse them to the
extent of one-half of such loss, provid
that the amount required by the set
tiers to be paid shall not exceed Ten
Dollars $4,000 per acre, such amount
so due from the settler shall be added
to the principal of the purchase price
of the settlers right and paid in in
stallments as provided for the pay
ment of the said principal.
8. The interest due on account of
the several contracts of the settlers
shall be waived prior to April !, 1914,
at which time the principal of the sew
eral contracts shall begin to draw in
terest. The first interest payment
shall be due April /, 1915. The prin
cipal of the several amounts due from
the the settlers shall be payable in Is
annual installments to be paid annual
ly or April /, 1917. and annually there
after, the amount of each installment
| to be graduated, similarly to that now
existing, by which the total amount to
be paid each year, principal and In
. terest, will be about the same each
| year In the event any settler shall
have heretofore paid any interest on his
| contract, the same shall be credited
ON the interest due as above stated.
| The liability of the parties shall not
be changed, but shall remain the same
! as provided in his contract, the intent
being to modify merely the right to
interest and the times of payment.
| T. The settler will accept title to
the lands upon which he has respec-
lively made filing at the earliest pos
sible time and will assist insofar as
he is able in procuring the adjustment
of the titles to said lands.
| 5. The entryman shall improve his
| land so that at least fifteen per cent
shall be under cultivation during 1914,
| thirty-five per cent in 1915, and fifty
| per cent in 1916, and each settler
pledges himself to the economical use
of water on his lands, and agrees to
cooperate to advance the best inter-
est of the tract.
6. The bondholders shall as soon
as possible, at their own expense, fully
complete the dam and system, and
when finally completed shall be to the
satisfaction of the state engineer of
the state of Idaho and an engineer to
| be selected by the board of directors
of the operating company, when under
control of the settlers.
T. The Salmon River Canal system
shall be continued to be operated by
the Salmon River Canal Company,
| (that is, the Operating Company pro-
vided for in the contract between the
Twin Falls Salmon River Land and
| Water Company and the State of Ida
] ho) but the provision of the contract
mentioned which provides that the
stock in said corporation shall be vot-
ed by the Twin Falls Salmon FLYER
Land and Water Company until thirty
five per cent of the same shall be paid
or shall be modified to this extent;
that the ownership of the stock shall
remain in the settlers, as provided in
the said state contract,and the right
| to vote same shall pass Immediately to
him, so that the settlers may elect
their own board of directors and as
sumo actual control of the operation
of the said company and the said canal
system. Some provision can be made
| to protect the lien of the Twin Falls
! Salmon River Land and Water Com
pany, or its assigns, on account of any
balance due on purchase price of the
said stock by the hypothecation of the
said stock in manner somewhat sim
/ liar to that now employed by the ORR
ginal Twin Falls Land and Water
Company with reference to the I'M
paid stock of the settlers of the Twin
Falls Canal Company, or any other