Lincoln County times. (Jerome, Idaho) 1911-1919, 1915-12-02


The petition asks that all money
received from the payment Of prin-
cipal and interest be placed in
trust fund TO be dispersed by the re
ceiVer In work on the system We
might add right here that this is
exactly the system that has been fol-
lowed since the bondholders came
into possession Of the tract. and we
have been repeatedly informed by
Mr. Shepherd that since he became
the manager o! the system here the
bondhOlders have not received one
cent either az principal or interest
but that every dollar that has been
collected from the settlers has been
spent Ii work on the tract, in addi-
tion TO a large sum which the bond
holders have advanced. This state
ment can be easily verified by an ex-
animation OF the books OF the com
pany. and If these same orators who |
are parties TO this suit and many |
others had met their payments |
promptly under the management of |
the bondholders. d much larger sum
would have been available for work
on the tract A receiver can do no
more. II funds are not forthcoming
the work cannot be continued. as it
must be remembered that receivers
certificates cannot be issued when
there are funds available or collect
able
For some time there was evidenced
desire on the part OF several 10
bring case before the Federal
courts to define the contract. No
one. not even the company, seriously
, objected TO this. though the company
have felt that under the management
Of the bondholdeTs. they were carry
ing out the contract to the letter un-
der the instructions from the land
board and state engineer and II one
has the inclination to go over the
books OF the company 1t will be
found that the work done by the
b company will exceed the specifica-
tions and estimates made by the
state engineer by a large per cent.
The adequacy OF the canal system
i is also attacked in the suit filed. We
have no desire to discuss this point
as not being an engineer we feel in
competent to say whether the system
l is ADEQUATE or not, as we have al
5 WAYS understood that this is prob
. lem for the land board and state en-
: gineer TO pass upon. but We do re
= member distinctly of taking an actiV
= part prior to the present manage
Il ment I'm the gallant fight made b
e the settlers in securing supply O
~ storage water for the tract but a
Il that time no argument was brough
% M as to lack of capacity of the mai
le canal to carry sufficient water Tor IN
)i irrigation of the lands under the sy'
al TEN. we all believing at that tim
is that with some work accomplishe
d. which the land board was insiste
* upon to order. that no fear might
g expected from that source.
About the first obligations assun
is ed bv the bondholders upon takir
It. over the tract was the completion
ly the Jackson Lake reservoir and
al ,vas stated in these columns on
it. two weeks ago. the work there II
he so far advanced as to assure u
Is tract sufficient amount OF storaI
% water for next season. an announ'
lis ment which should bring pleasu
Sc and confidence to every settler on
he tract Under the extension agrt
in ment as presented by the bondhol
nd ers there is a clause which express
ct kinds the present management to I
completion OF the system ana IN
~ FAR there has been no dispositi
arc sbown bv the bondholders to shi
ow This responsibility, or to attempt
we turn the system over to the se''i'
of nncompleted. and until there is so
,rt indication on the part of the pr
nv ort management to evade this p
of vision we have always felt that II
his should have the hearty support
of tbe settlers instead of being II
re- rassed bv law suits which demal
ma nancy that would otherwise be u
ore in perfecting the system.
,gi- Another little item that appears
on. the petition that might be overio
od ad was not especial attention cal
,ng ~ n and that is the estimated
the the petitioners put on the COM
,er- ,ion of he system. which as VIII
, a seen bv reference to the section
no the petition only amounts to Sl'o
ooo 90 which the receiver should
nm be appointed is expected TO col
-. from the settlers on the tract. L
No, this sound good to you?
,ish The present crisis Is one
should be pondered over and care
''ho " studied by the settlers on
~ = tract. and no quick conclusions
r,ved at. AS we have stated ao
wa helieve the step that has Just
' ~ ..ot onnaal faVOraDly