The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1914-03-24

The 18th of April is the date fixed
for the sale of the assets of the Amer
lean Water Works e Guarantee COM
pany, the holding company of all the
Kuhn's enterprises. Upon this date
the bondholders will come into formal
possession of the Salmon River irri-
cation project. The Twin Falls-North
Side project and the Oakley projects
will also be transferred to their bond
holders. The same disposition will be
made of an irrigation enterprise in
California. The other Kuhn enter
prises, including water works sys-
TENS, electric plants, electric railways
and other irrigation projects, will be
taken over by new company, fin
'anced along the lines indicated in The
Herald in it's issue of February 28th.
The consideration for which these ir-
rigation projects are to be transferred
to the respective bondholders is said
to be sum which will meet the pres
'ent liabilities of the projects involved.
In other words it simply means the le-
gal transfer of both the assets and
liabilities Of these four projects to
their bOndholders, and the sale set for
April 18th is merely the means Of ac-
complishing this and effecting the re-
organization of the other enterprises.
This is welcome information to
every settler on the tract 1t is be-
lieved to mark the beginning of the
end" for the difficulties that have pre-
vented the natural and normal devel-
opment of the project. Indeed Mr..
Robinson, the chairman of the bond
holders protective committee in a
communication just received by The
Herald, expressed his hope that this
is the beginning of an early settlement
of the various matters affecting the
bondholders and the settlers"
Those who have been following the
situation closely during the past few
months have felt that much more
could be gained through a settlement
with the bondholders than by other
and drastic procedure. There was lit
tie hope held out for settlement be-
tween the entrymen and the construc-
tion company except by court action,
their interests being entirely antagon-
istic. The bondholders, however have
the same interest in the project that
the average farmer has: they have a
heavy investment in each acre of land,
and are desirous of putting their in
vestment upon sound, safe CONNER
cial basis. This can not be accom-
plished without the disposition of the
vexatious and vital problems which
have impeded the growth of the tract,
and made local securities of doubtful
value. The construction company, on
the other hand, had as its principal
object, the making of profit, which
Idea carried to excess by it's frantic
effort to spread the available water
over more ground than it would bene-
ficially cover, and by its equally fran
tic effort to conceal the true situation,
threatened to wreck ruin to settlers
and bondholders alike.
Mr.. Robinson left Pittsburg Sunday
evening for Colorado, where he had |
arranged to meet the gentlemen who
will represent the bondholders in the
negotiations to be undertaken at once.
The representative is expected to ar
rive on the tract early next week. He
will probably have direct control OF
all matters pertaining to the project, |
as we'll as authority to conclude an
adjustment OF questions at variance |
between the entrymen and the bond
holders. Last Saturday Mr.. Robinson |
secured the funds necessary to put |
the system in proper condition for this I
seasons work, and to care for such
additional construction work as may
be necessary. Repair and construc-
tion outfits are already being organ
ized and work will probably COM
mence in earnest Monday morning.
The first annual meeting of the
stockholders in the Salmon River Ca
nal company was held at the offices Of |
the water master Monday afternoon
between trains The stock OF the en-
trymen, representing 73,4S7.85 acres
of land, was voted by D. c. MacWat-
fNan&inunA a.. nnluxa O