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Show DEVELOPMENT IN MILFORDVALLEY Tho Pacific Land and Walre Company, Com-pany, a $500,000 corporation, is being be-ing organized by California capital for the purpose of purchasing and developing de-veloping several thousand acres of irrigable land in northern Utah, according ac-cording to A. E. McGarry, former Salt Lake newspaperman who is in Salt Lake to file articles of incorporation incorpor-ation for the proposed company. The new company will take over several large tracts of land near Milford and Beryl, where underground water for Irrigation purposes has been discovered, discov-ered, according to Mr. McGarry. The officers of the company will be F. E. Doty, civil service examiner, of Los Angeles, president; Mr. McGarry, McGar-ry, secretary and treasurer; E. L. Halter, A. A. Houck and Sherman McGarry as members of the board of directors. The proposed company's offerings in the form of investment," said Mr. McGarry, "are rather unique in the matter of the issuance of preferred stock, which is convertible into land to preferred stockholders twice yearly year-ly at appraised valuations. In this particular the company methods of financing resemble the Palos Verdes project recently promoted by E. G. Lewis of Atascadero, where land is being offered to convertible note holders at cost prices. "The proposed company will have offices at Salt Lake, Milford and Los Angeles, California. "In addition to developing several thousands of acres of land in southern south-ern Utah, the company will take over about two thousand acres at Spanish Fork and near Provo, for the pur-nose pur-nose of planting hardy fruits. Salt Lake Tribune. |