The Delta independent., 1923-12-07

| Service, and that they can be relied
/ upon to assist in bringing agout the
success of the project in every way
possible The subscriptions made for
shares of stock by the people are al
ready sufficient, including the public
| lands. TO guarantee the return of the
money advanced by the government"
Report OF A. L. Fellows, 1904.
Gross building costs to
June 80. 1914. ,6l3, ,O95. 90
June 30, 1915 .......... 6,O6s,s
Estimated by Engineers
| Acreage ................ 100000
| Cost OF construction. 81 SOC. 5000
| Construction cost per acre
on estimated acreage. $500
Construction cost per acre
on irrigated acreage .... 1906
| Operation and mainten-
ance .................N NO estimate
! Made.
The capital stock OF the Associa-
ton shall be One Hundred Thousand
Dollars (s1Oo.0o0)) and be divided
| into One Hundred Thousand shares
/ of par value of One Dollar (S1.0O1 per
share, and said shares shall be assess
/ able, however, not to exceed Twenty
four Dollars Cs24OO) per share in the
| aggregate.-Art. v, Sec. |, Articles
of Incorporation OF the Uncompahgre
| Valley Water Users Association, May
IL, 1903
"A copy OF the Articles of 1ncor-
| poration OF said Association is ap-
pended to this Agreement, and is for
| every purpose an Interpretation and
| construction and consideration OF this
| Agreement, and OF the parties here
under, to be deemed, held, read and
considered as II fully written out or
printed herein and deemed a part
4 hereof"-Contract between United
( States and the Uncompahgre Valley
I Water Users Association
The said The Uncompahgre Valley
\ Water Users Association agrees that
| 1t will promptly collect or require
prompt payment in such manner as
I the Secretary of the Interior may di-
rect, and hereby guarantees the pay
ments, for that part OF the cost of
/ the irrigation works, which shall be
apportioned BY the Secretary of the
/ Interior to its shareholders, and
promptly pay the sums collected by
J 1t to the Receiver OF the local land
/ office for the district in which said
lands are situate"
I'VE made the Capital Stock, $780,
/ 10000 and made the stock assessable,
not to exceed S240O per share
| John c. Bell, President, TO Secretary
OF the Interior, August 7, 1903.
| We indicated in our previous re-
port our reasons for valuing the cap
| ital stock OF the Association at 81
| per share. 1t will be seen that We
make the stock assessable not to eX-
! ceed S24 per share. thus making the
cost OF share S25. As explained in
our previous letter this was done for
the purpose of avoiding flat tax OF
| $515 per annum.
The only expenditure at the pres.
ent time is that in relation to the sal
airy OF the Secretary. All the other
officers serve without pay, and pay
their own necessary expenses. We
state this for the purpose of showing
how intensely Interested the people
OF the Uncompahgre Valley are in
this work."-John c. Bell, President,
| Uncompahgre Valley Water Users
Association. to Secretary of the In.
terror August 7, 1908.
ANY land that can be irrigated can
grow crops OF alfalfa. And sufti-
cient water right upon land that win
grow alfalfa viii warrant payment
OF s25 per acre for water"-J II.
HALEY, President Uncompahgre Val
] ley Water Users Association. to Sec
retary OF Interior. April 2l, 1904.
at will be April 15, 1908. before
the project is completed. The cost
OF the project can not exceed s25 per
acre and doubtless will be consider
ably less"-Ira II. Mcneil, Secretary
OF the Uncompahgre Valley Water
Users Association, in leaflet adver-
Using land that may be purchased,
dated Montrose. Colorado. July 2S.
1905
Our project cost was estimated at
less than s22.50 per acre. We signed
contract, which we believed limited
the cost to s25 per acre. We now
understand the cost will be from $50
to $50 per acre, or more. and that we
are required TO pay the same under
the Reclamation Act.
in the Judgment OF many It will be
impossible for at least 50% OF the
land to pay this, and the collection
of such construction charge within
the present twenty-year period. will
result In confiscation of at least half
the land OF the Project. OF