Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-12-28

1000 acres from Lon c. Hill lying
along our west line. from the river
10 the arroyo. A few months later
We bought IL, 100 acres from jas. G..
Brown, about 1000 acres OF IT
along the west side Of the Hill
land and the balance up on the
arroyo about Rio Hondo. In 1903
We bought the Combes tract north
OF San Benito. We also bought
$40 acres from the railroad company
lying in and adjoining San Benito.
This gave US about 1880 acres,
which comprises the san Benito
Land and Water companv's hold
i7gs and the original lands in this
development However the ON
rany owned $500 acres In share II
Espiritu 81 nto grant which was
never q part Of this development.
During 1910, 1911 and 1912 vari-
GUS subsidiary companies were or
ganized and bought and subdivided
some $4,000 acres more lying ada
cent to the San Benito Land e.
Water company's holdings. These
subsidiary companies each made
contracts with the parent company
for the irrigation Of their lands.
Water Rights
Under the old statutes a water
appropriation was made by filing
with the county clerk a declaration
OF intention to appropriate water
for a given number Of acres of land
and a map showing location of the
lard and proposed canals. Under
this law we made four filings. /. e.:
LIST April 27. 1907 on 2444l acre.
End Aug. IL. 1908 on 1909 acres
3rd Jan. 2. 1909 on I1.724 acres
9Th Mar. 10. 1913 on 34.3l6 acres
A total Of 1880 acres
The first three were Oh the o-.zi-
nal San Beriro Land e. Water
oompany's holdings.
Financial Troubles
We got off to a good start but
there were breakers ahead. as everv
developer in the Valley found we
nad the same troubles that all the
ra!ance Of the projects experienced.
After we bought our lands ard built
cur canals, development zane too
SLOW TO make Jul income meet or
expenses. The Sa= Benito Land &,
water company vas caeisalized for
soO5 100000 which about s425.-
vO0.oO was invested in land and the
Dalance IN canal construction. In
l9oS we made our first bond issue
q S7oo,OO0.00. These were 10 wear
noads. Then in about 1911 we float
ca another S300. 10000 bond issue
making a total OF Sl,650.O0O.OO in
vested in the project. DEVELOPMENT
came slowly. Our first land sales
We're az $1,000. $500 and $40 90 ner
acre. Land adjoining San Renito
and out IL miles sold for ear N
Fer acre, p next two miles out at
S5o-Oo and lands 81 miles and fur
uner sold at $1,000 per acre. In
1903 prices had gradually advanced
Until resaca lands brought sl25.OO
and the balance $500 to sim M
per acre. depending on location. etc
The panic OF 1907 and 1908 de-
!ayed development. The 1909 storm
and flood didn't help matters The
freeze OF 1912 hurt. The Frisco
iaiiray receivership had it's influ-
ence. The war in Europe in 1914
was a body blow. The bandit troYh-
les IN 1915 and 1916 made us foerv
ard our entry into the World war
IN 1917 finished Us. -
Under our bond issues ne had
m~o.tsaged all our lands ana canal
property and put I'D all our ve1dor
Ter notes for security and practi-
ceAy al OF our cash PAYMENTS ~
land sales went to the trustees for
2 bond holders. which lef. IL WITH
no money with which 10 operate,
Our land sales were badly scat-
tered over the tract. but when ~
solo a tract Of land ana tie mr.
eraser wanted water, we gave II ~
nun regardless or cost. Oh a--ount
OF this policy, before We Lad orr
canal construction completed ve ha6
10 or 20 gasoline driven relift pumpx
in operation.