Show TAKE TARE OVER ID 1110 PROJECT FOR NON OF TAXES the daily papers contained the news note that the carey valley arri gation district was taken over toy by its bondholders in default ol 01 payment of its bond issue there was bonds against it issued in 1922 and about acres ol 01 land the papers say so that the bond debt was approximately 50 an acre A larger area was bit off by the lo 10 cal promoters than they had water tor for so that prospective settlers who had bought gradually moved ott off the bondholders took it over will go into athe the real estate business water is really available onto what land it will serve and so realize on their assets the best figure they can default in payment forces a bond holder to take over get water to go with his land lien and engage in the real estate selling business to work out his loan to the best advantage the necessity of one project is the gu de tor for another all loose water will thus gravitate upon abandon ment into the hands of the bandhold bond hold er and at a sacrifice figure |