Lincoln County times. (Jerome, Idaho) 1911-1919, 1914-02-12
BONDHOLDERs' PROPOSITION

So many inquiries have reached us
recently regarding the status of the
negotiations between the settlers and
bondholders, and 80 many rumors
have been circulated throughout this
section regarding these negotiations,
that we feel 1t due our readers to
give them what information we have
at hand. To silence the rumors that
negotiations were all of, we took
occasion to wire Mr.. burst. the
chairman of the bond committee hav-
ing the matter In charge. and in re-
sponse he assures US that matters
are progressing very satisfactorily,
though not as speedily as he would
wish
The delay, however. is occasioned
through no fault of the bondholders.
but is attributed to the inability on
the part OF the American Water
Works and Guaranty Co. to raise
the necessary funds to release them
from the guarantee OF the bonds of
this tract as well as others. 1t Is
known that they became responsible
ior the bonds issued against several
OF the Kuhn's tracts, and In order to
be released from the guarantee on
these bonds 1t will necessitate the
raising OF some $4.00O.o00. On ac-
count OF the stringency In the money
market, until recently. this has been
a slow proposition. but our advices
are that the most OF this money has
been subscribed. and 1t is thought
that the balance will be forthcoming
within a short time. In addition to
this. the courts at Pittsburg have
been called upon to sanction some OF
the acts OF this company and the
same has been under the considera-
tion OF the court the past week. and
a decision is likely to be handed
down at any time. This done and It
is thought that matters can be
quickly closed up.
Attorney Johnson for the Canal
Users Association was called to Bill
ings the first OF the week for consul
tation regarding matters here. re-
turning yesterday, and he assures us
that matters are progressing very
satisfactorily and that the situation
looks good to him from the stand
point OF the settlers on this tract at
least.
This matter is much larger one
perhaps than the settlers on this
tract have any idea OF. as 1t repre-
sents several millions OF dollars and
consequently must be worked out
slowly. 1t is the desire OF the com
mittee having the matter In charge
that everything be settled up in time
for this seasons work. and II no set
tlement is made prior to March 1st.
II Is probable that they will institute
more drastic measures to bring about
a settlement OF the entire AFFAIR. In
the meantime. our people who are so
deeply interested should have pa
tAthNc anu Pay hO aNAthtiOh W Aht
idle rumors that are circulating
around, as we are assured that we
will be promptly informed OF any de-
velopments that may occur. and we
will lose no time In giving this infor-
nation to our readers. Contrary to
some of the reports. the proposition
of the settlers on this tract has not as
yet been presented to the bondhold
ers for consideration, as 1t has been
held in the hands of the committee
and will not be presented until the
bondholders are prepared to act. We
believe that we can safely assert that
whatever may be the outcome. the
extension will be granted along the
lines as has been heretofore pro-
posed.