Lincoln County times. (Jerome, Idaho) 1911-1919, 1914-03-26
EXPLAINS HIS POSITION.
Manager Shepherd Explains to the
Settlers What the Bondholders
Propose to Do.

tiers on the tract met at the Amuse-
ment hall on last Saturday afternoon
to meet Mr. r. K. Shepherd who will
become the general manager OF the
tract, and listen to his explanation
OF matters now pending regarding
the future management OF the tract.
Although the transfer OF the prop
erty to the bondholders will not be
legally consumated until the sale OF
the property on April 18th, as or
dered by the court In Pittsburg, Mr.. |
Shepherd assured his hearers that
negotiations had progressed far
enough to warrant his assertion that
the transfer would be made without
any doubt In fact. so confident are
that money has been advanced for
the payment OF back salaries. and
other expenses that have been neces-
sarily incurred since these negotia-
tions have been pending. and Mr..
Shepherd has given orders for the
work that must be done before the
commencement OF the irrigation sea-
son.
He also stated that Mr.. Rinker
would be retained as water master
for the coming season, and that the
present force would not be changed
materially.
As to the matter OF extensions, Mr..
Shepherd gave assurance that these
would be brought about without fail.
as 1t was only with this idea In mind
that the bondholders took hold OF
the tract. These extensions will be
made on the plan as heretofore out
lined The entire indebtedness of
the landhloder will be computed as
OF March LIST. 1914. the entire amount
being funded into one debt. which
will become a first lien on the land
to bear interest at s per cent, Inter
est to be paid annually. but no pay
ment to be made on the principal fol
five years. Ave percent OF the princi
pal becoming due March 1st, 1919
No payment of principal or interes
will have to be made this year, Civ
ing the settler the opportunity e
put this money into the further de
velopment OF his holdings.
These extensions. however. are L
be made under certain conditions. tn
principal one being that the land
holder will improve his lands to tn
extent OF having 10 per cent of hi
holdings under cultivation at tn
end of the first year. and at least 8
per cent under cultivation at the en-
meet this requirement, as the Ian
must be kept under actual cultivs
ton. This will not incur any hare
ship on the actual settler, but II wi
necessitate the nonresident holds
getting his land under cultivation
he wishes to participate in this e
tension of payments.
AS to the completion of the Jacl
son Lake reservoir. Mr.. Shephel
gave the assurance that the settle
here need have no fear along th
line. and we might state In this co
nection that the terms of extensit
as agreed upon by the Canal User
Association provide for surety I
the part OF the bondholders for q
completion of this reservoir, befo
the protest against the issuing of pa
ents is withdrawn as in making the
extensions the bondholders are ar
ious to have the land patented
soon as possible.
The speaker briefly outlined
position of the bondholders as
CARDS high and non-irrigable lam
but this is a matter that Will ha
to be taken up by each individual,
no general rule would apply to
cases.
Various minor matters were TAX
up and explained by Mr.. Shephe
and an opportunity was given to al
one to PROFOUND questions bear
upon the matter, and several avail
themselves of this invitation to
come better informed on the subjs
From the general sentiments
pressed by the settlers on the sire
after the meeting, and in talk
with many OF them since. all seen
to be we'll pleased with the amour
ments as made by Mr.. Shepherd,
all feel much encouraged over
speedy settlement OF our troub
believing 1t will be the means of
ting many new settlers on the Il
in addition to the development
much more land.
1t is Mr.. Shepherds idea to
pare a statement OF the indebtedI
OF each landholder aH shown by