New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1918-03-16
BIG CORPORATION FORMED
TO DEVELOP TECHE RICE
LANDS,

| OhO VI tuc IHOSt lupoItdul
chapters in the history of the rice
industry in Louisiana will DE
written Tuesday night. when the
organization Of the Atchafalaya-
Teche- Vermilion Company, Incor-
porated, will be completed.
The company was formed by
some of the leaders in various
branches Of the development of
the rice section, and the entire
capital of $4,000 contemplated
by the charter subscribed. The
work intended will require fully
| $35O,0OO. AS the exigency Of the
situation demands the great work
to be completed within the short
est time. the meeting Tuesday has
been called to raise the remainder
of the money.
The movers are sanguine of sue
cess in the broader undertaking.
The project will benefit many
more than those engaged directly
in rice cultivation and irrigation.
1t will furnish navigable faciii-
ties. it will make much more land
available to food cropping, it viii
open the way to general invest
ment and enterprise, and the peo-
pie are alive to the fact that
banker, merchant, lanowner ana
laborer have as much interest in
the Improvement as the farmer.
Another winning argument Is
the fact that the money is to be
expended under government aus
pieces. that reasonable tolls will
pay back the fund with interest, |
and that as soon as the work is
fully paid for and the money re.
turned to the subscribers, the con
structed and operating plant will |
revert to the government. The
latter will then continue the con
duct and maintenance of the sys-
TEN, with charges just sufficient to
carry on the public benegt, and
the section enjoy permanent and
model asset virtually without
further contribution and cost.
The value Of land and the volume
of business will hav eincreased
meantime, and all the parishes
along the route respond to the
impetus and prosper.
The objects Of the corporation
are set forth to be the excavation,
and operation of a
1avigable channel along lines 10
De approved by the United States
government. from the Atchafa- {
ava river through Bayou Court t
lbleau and Bayou Teche. and 6
hence by canals or other water {
Ways to a connection with Bayou +
'ermilion, then to Vermilion G
'ay. Water from and through d
his system is to be supplied 10 a
he parishes of Vermilion, Lafay- o
tie, st. Landry, st. Martin, St. 4
larry. Iberia and others. The e
hannel is to be utilized for nav =
CATION, drainage, irrigation and
Their water supply, with power 70 G
ollect and dispose of tolls in e,
loney and crops. The revenues, b.
fter the payment Of taxes and lo
xpenses. shall be devoted to the tc
with interest of con- II
ruction and maintenance and of OF
le paid-in capital stock with six 10
,r cent interest. After the stock O,
retired the rights, properties OF
Id assets acquired shall revert m
ithout charge to the United en-
;ates government for the use or
ID benefit of the public. The an
ans already have been approved Is
; the government. and the per- :
it issued by the War Depart
snt which will supervise the
)rk.
While the movement is general
d is based upon the recognition
the vast good that will be ac-
the first officers and
'ectors evidence the character of
3 men who are working for
d inspire confidence in success.
o. Broussard is the president;
rnand Mouton, active vice
esident; V. L. Caldwell, Chas.
j. M. Chaisson and F.
Mouton, vice-presidents; w.
Knox, secretary. and w. H.
inter-, treasurer. Other direc-
s are: d. l.. Mcpherson, A.
Smith, T. j. Liable, L. C. st.
R. 0. Young. P. A.
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