Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1934-03-22

proffered collateral. 1t required
something less than thirty seconds for
this individual to make his appraisal
and decision.
THE government" he said, will not
consider l~oaning money on California
farms which are listed as dry-farming
lands.r
But these lands are irrigated" Mr..
Babson reminded him.
Eyes. so | observe, but from deep
wells. But as more and more wells
are bored and the farming In this
valley tends more and more toward
intensive cropping, thus requiring more
and more water for irrigation, the va
ter levels will recede and the cost of
pumping the water to the surface will
Increase proportionately with the lift
until a point will be reached where
the water will be tinctured with red
ink. Hence, such lands as these are
listed as dry-farming lands and con
stltute a loan risk the government is
unwilling to assume. 1t will loan
only on lands that are surface irri-
gated and with an assured and con-
tinuous source of water supply"
$50 I've loaned money on dry farms
because / was jackass enough to con-
slider them irrigated FARMS" Babson
almost moaned.
He made a surve, Of the water stu
alton and discovered to his horror that
the water levels were indeed receding.
Creeping paralysis That's what 1t
is" he s~oliloquized. "And the Bank of
Valley Center is the richest patient
and will have to pay the heaviest bill
for medical attention"
But the old ability to scheme his
way out of a tight hole did not desert
him. He reduced his situation to Its
lowest common divisor. II surface ir-
rigation from q never-failing and am
pie source OF water supply, could be
brought to the lands OF Forlorn Val
ley, then Forlorn VALLEY lands would
be classed by the government as irri-
gated lands, whose value would imme-
diately return to the old wartime
figure. And the federal farm loan
banks would then have no heSitancy In
loaning up to 60 per cent Of the ap-
praised value.
Therefore, the thing to do was to Sc
cure surface irrigation for Forlorn
Valley.
"Eden Valley creek" Babson cried
aloud. "A dam In that gorge In the
lower end of Eden Valley. kept peren-
nially at a high level by the flood wa
tiers OF Eden Valley creek and led
through a tunnel or a canal cut
through the low hills on the north
ern rim and down into Forlorn Valley,
will do the trick"
The next problem was that Of ac-
quiring the water, but this Babson did
not regard as a difficult one. He had
but to acquire the dam site from young
Nathan Tichenor, sole owner OF the
Bar Fl Land and Cattle company. The
land which would be Inundated by the
lake which would be formed when the
dam should be built was NEXT to worth
less; Babson decided the Bar FL Land
and Cattle company would be delight
ed to get rid OF 1t at a price not ex-
ceeding ten dollars an acre. although
as grazing land 1t was not worth that.
There were hydro electric possibilities
inherent In the enterprise that would
be worth millions alone. He must APP
proach this delicate matter cautiously.
Tichenor had been an absentee land
lord ever since leasing the Bar 81
ranch to Rance Kershaw. That ar
gued he would scarcely be interested
In returning to Eden Valley again and
engaging In the cattle business.
Rance Kershaw was a financial
wreck and could not possibly continue
his lease of the Bar III, and 1t would
be several years, doubtless. before Z
new tenant could be found for 1t. Yes
Nate Tichenor would sell the Bar Ell al
a fair price-exorbitant. considering
the present status of the cattle In,
dustry-rather than hang on to a
frozen asset and pay taxes on it
MIR. Babson decided instantly to
buy the Bar Fl, Ii he had to pawn his
wife's piano to aid In raising the