Imperial Valley press., 1934-06-27

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to the board of directors of the I'm
perial Irrigation District this MORN
ing by F. H. Mc1ver, treasurer. AS
transactions in which the treasurer
was concerned are treated in the
auditors report, printed elsewhere
in this issue, Mr.. McIver's state
ment, a copy of which was given to
The Press, is printed in full in fair
ness to him. (Editor)
! wish to make a statement con-
/ corning my activities with the dis
| trict' during the past 20 years of
| service. This service I say has been
loyal to the district and loyal to the
! directors controlling the destiny of
the district Whatever the orders of
the board were, they were obeyed.
and to the best of my ability car
ried out according to those orders.
have served through many diverse
administrations.
I started with the district on Ap-
ril %, 1914, in the secretarys office.
when the files consisted of not more
than two dozen envelopes of assort-
ed subjects. Today there are more
than $4,000 subjects and countless
files of instruments, forms and cor
respondence.
was the first active purchasing
agent of the district and caused a
change from retail buying of the
district in groceries, etc, to whole
sale purchases from the largest con-
Germs on the coast and throughout
the country which resulted in a
vast saving to the district. My rec
ord in this regard I am proud of,
and no one can point to a single
instance where compensation was
ever received for the business
awarded. You will understand that
at this time the district was spend
ing vast sums in building the sys-
tenn you have today, over $4,000, 900
having been expended in structures
and equipment at that time
AS secretary, I disbursed $4,000, 900
to the respective mutual water COM
panies for the purchase OF their
osopCuio dlio
Engineered Bond Deals
carried through the entire detail
of three of the four bond issues in
the amount of $12,500, 900. The rec
ord will show that these bonds were
issued without flaw, and legal opin-
ions were given by the firm of Good
fellow, Eels, Moore and Orrick i'm
mediately after each sale of bonds
was consummated. In one particu-
lar issue I delivered $2,500,000 of
bonds, with the deal completely
closed without flaw, within one
weeks time, when another public
body in this county at the very same
time was unable to make delivery
of its bonds, on account of techni-
cal flaws in the procedure, for over
l8 months.
In one particular sale of the last
issue of bond We were advised by
the syndicate formed to disposed of
the issue that no more bids would
be made, the result of which would
mean the closing down of all con-
struction equipment and the drain
age work stopped. The board direct
ed me to survey the market for a
bid. BY the date named in the no.
tice to open bids, I secured a bid
from an outsider for 97ia per cent,
an amount equal to what the for
mer blocks of bonds had been sold.
I learned later the syndicate ex-
pected to make a bid of 90 per cent
in lieu of 97ls per cent, differ
ence of S37,500, more to the dis
trict that would have been possible
had I not expended every effort
possible in my hunt for a buyer. At
the same time had made arrange
ments for the taking of registered
warrants by one of the large banks
in order that the district could car
ry on. This can be verified by the
records and by two directors now
serving on the board.
AS treasurer of the district I have
held this office for more than IL
years and have disbursed more than
SAC, 900, 900. Over 10000 coupons hav-
ing been handled annually, or more
than 385 900 coupons during the
term of my office, and 100000 dis
bursed, yet not one single coupon
has been lost or not accounted for
An audit has been made of my af-
fairs, all reports to the contrary
notwithstanding, each and every
year.
Now coming to the land sales of
which there seems to have been con-
siderable discussion in my absence.
Has No Criticism
1 make no criticism of the direc-
tors or the auditor in going into this
matter completely from the first
sale to the last. I was little cha
grined, however, over the comment
made publicly and Through the
press without getting my side of the
story, for it is story and of deep
interest to many poor individuals
who we're on the verge of losing
their land or were trying to get a