OCR Text |
Show H Compromise. H TI10 mcvtli)Ko( tlio stockholders ol tlio H I.clil Irrigation Cj.'aml tlio North Cert- H tro Ditch Co. held aomo time ago (or the H purpoieof taking atepa to compromise H ttnanot cry well Attended considering H tliu large millibar of peoplo lio nro In H tcicatcd. Tho several questions put to H the clmlrinttti with regard to tho not It c H given and 1( It did not tttlco n mnjotlty H of the stock to transact business nt audi H meeting aro vital questions and aliould hnvu been anawcred in aomo manner co H that tho etotkholdcM would liavo been H nblo to proceed In nn Intelligent manner H nud do tho huelneaa legally. As there H wns no sntisfactory stutter to tho quca- H tlons it would lwu been totter to H hae adjourned tlio meeting to audi n H time aa would&ve (ho directors n chance H to find out tho legal atntua In tho matter. H Tlirogh Information gleaned bIiico the H meeting our opinion In more confirmed H than at that timo that th majority of H tho etock should bo represented at such H mectiiigH, or n. notlc should bo cent H pcraonnlly to every stockholder and 1 lion If he ihuuht full to bo present nt H thu meeting hi: can ralao no objection, H mid Ihoao priHint I'Kti do tno business! H Icjjnlly.Noiie fin deny that tho 11 Uncial H utund right, and aucli being tho case H tho recent meeting must bo null nnd 1 void for It la aafo toaay that thero waa no, one-fourth of the etock represented. Wicu thoMlrcclora fcfntft to act hen H tho ninttcr goea to every1 stockholder. It H la not clear but what the directors liao 1 tho right to scttlo euch qucatlons wlth- . out calling the tlockboldera together, H many who are well informed say thoy B have this right. Bothatnsit may, It H was n stroke of good policy togct an ux- jirCBsion of tho stockholders on tho mat- H Tho motion of Prime Evans to coutin- H uo tho suit did not sound ery friendly H nor economical when the wholo eltua- H lion and question Is considered, Report H hast (t that tho Company is henUly In H debt nnd lias not yet paid tho last court H oxpciiscfl. and fa paying big interest on H borroned money, Tlio tax for tho last H two jcara lias been aa high na tho Ian H w ill allow nnd tho company has run be- H hind. At present thero is n list o( do- H Hutment taxpayers, many oi whom do H not seo how to pay It. This alono should H cnuoo ccry steckholder lothlnk well be H (ore otlng to ImoUo the company In H morodcbl. Another n it nl question h w hero aro tho directors to borrow lnon- H ey to carry on' tho suit. To liorrou H money now is almost impossible. 1( B they did tho terrible drain of interest B Mould conic out of the people's pockets. B II by spcndlng-this money moro wa'.er B would bo brought to our city and farina H till would bo willing tospend it so that h nutonlv thoso who are now hero cm hui tho water they need but others B can ( 01110 and locate with ua nud Im- jiroM- tho ucunt lands. Hj Tin motion of NrnelKvunn Jr. to coin H pionnie was right and should prewi.i H tictoro this matter goes nny farther and H fur the purpose of glvlngcvorystocMiol- H iler a drinco to oto unothei meeting H should bt called nnd ocry stockholder H giteu nulico of tho meeting. H l'roni tnlk which lias been heard sinio H tho meeting sumo of those who oted to H go to law h ivo changed their minds 11 ( BBJ ttr thlnkin; tho matter oer moru thor- H oughly ami would now otc for compro- Hj mlso. Komeof tliosn who thought a BB comproinlt'i could not be legal hae BJB chniigrd their minds. B A com prom 1 10 tihould be cirected' If BBj ossible, to savo nil the rnonoy poeslblo BBj or get the other compmiy to como into Hj tlio I,ehi Irrigation to. and pruent any H farther trouble. |