Imperial Valley press., 1915-10-11

cd ~-aoep0. which Colonel IaIabiIl I#z
i'm baHI5 and s284.oou due ar waiter.
leaving no HabiN at s3.2ooueo
Tho property in Me.lco j. ,ou.ef-
EauveI4 worth eI5on.oOo divided into
land. slooo.OoH. and canal. 5000 uao. E.
said Colonel uolaafrd. .rhe miaI.e
and canal system i'm California are
worth S1.5ooooH. making u total Of
s3.oo0.ooo"
While colonel Hoiabird l. conceded
to have more intimate kaa#Iedec OF
the companN'- values lhau any other
person. there are some ubs aupraiss
the AeEieau hoIdinas SD from to It.
Times that of the California property.
If the court should confirm ihfs pro
portion and the Waolc property should
brina net over Sa.aoo0uo linen il would
FOLLOW th1 the Southern Pacific would
recover its entire claim and The ale
company mi2ht uef collect moro th.pu a
small percentage al its bill
However the companies may COM
throuEh The process of adjustment and
paryciiue ont of shares. therc is ~
speculation a- to thr crfcct af rho -aIe
upon the valley.
- ann mighty glal the saIe ha. been
ordcred.a sIid Colonel uolabird aurut
this feature. "rGr property i- j.
splendid shape ana has pro4p.rcd die
spite dlaaIiou. aut the Who'll. valley
f. aoiaa lo hcuerf mucaeur3Lly nam
,hi" 4#fug OF leaal burdens
rhs decision clears mp the.sIuaiian.
removes un,,rtaur. 81. ia tho future
aud j. alfo2rlhsr u very happy caa
ing hofh for 'a. company and .h. .1#
crr.ls ~ lhr valley.
"Ite order % sell tlo property ,vH
u't r.aeo mc fas 20 da,-. Ieeal FOR
moli.tes fo hc complied with. such ~
ad'ertsia VIII G,Izn ucalls Il month
Ioue'n .nd the sal. will pgab3bs Ire
held aaoal December g.
"ft.#. ar, uo5t % interest i'm pos.
fiou = bill ou Tire company. holdae#.
so Iar - I lare ANY Information 6#
southern Pacific auI the New Ise.
,rpoo' -3n Company.
"Tha Imperial Irrigation District wa
7ro.uf.ea as s5.ouuuua eor.oratioa
TO lale aHer the eemuaov hnt 10 has
no money. only 1aaae Pic buve'. viii
be oh6eed lo pay ~ per eeut of tn
uH..Ja#e price in money. hen.c tt.
fr.ea1ian district could hardly hc,ams
Fl bidder.
"The general piau is .Hat the Inn
ppriaI Irrigation District shaH acquire
thc ,omraa. from the ha2er partaa
h.r,fos in iho bonds WhHh lm pre-
GUIDED from accepting.
"\Vhan thr sale - ma1# I will re-
buo - receiver and commissioners L
will leave a mneuf4fccut sSslem. how
rvc" Il is the only orsar5zatou uH#
der resetvor-hip in thc United Stlte..
go far - ann aware. that : -o5Is
concern.
.-luee became rcrciNeu orrr
gears $50. more Tan sl.ooa.aoH ha=
Been sr.nf o0 The system and 'lere
il uuW rNerythmg in the WHY oG tool
and equipment To supply was.r I'm The
mo.t economical and expeditions man
ncr J viii turn aVer S2aoo0o. which
! have ON hand. and S2oo.ooa worth of
bill. due for watcr"
The fact that the southern Pacific
and the saIt Company perhaps will he
the only bidders raises the interesting
pos biufN that the winning offer for
the property viii be high enough 10
insure thcm rpII recovery Of their
claims.
II is said that Heithcr Of tacse CON
Germs desires or is in position TO up
cratic the vast irrigation eystem and
that tne cvcumaliJy of the Imperial
Irrigation District becoming possessed
of the property is torogoue.
General satisfaction cNjsts among
arrirui urfst. and business mea of the
mperiaI valley oyer the settlement of
the long contest. hui no class Of bene-
firiariez. perhaps is experiencing NOR
eIation Than the boudholdcrs.
when the litigation was started in
1909 The bonds were worth less than
&lo-Sloo being par The effect of The
decision. il is said. viii be to send
the bonds mp to s1fo, at least
This tremendous increase is duo -
the wears Of interest that has been pill
ing up nj the rate of per cont
All of the claims. ina fact have tire
meudoualy Increased since theE We're
first preferred. Tho salt campany's
has. under the boosting virtue of
pcr cent rate, jumped from &15S,2iG
to arnroNimotcly s7oo,ooo.