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Show H I I Plan of Project Outlined Possibility of Only Loss of 50 Cents I Per Share Pointed Out as a Guarantee of Certain Suc- I cess Reservoir to be BuiSfc on the Same Plan as the I Sugar Factory Was Started Every Ogdenite I Should Read This Prospectus H Thoro are so" many misstatements H made concerning the proposed South H Fork reservoir proposition that the H committee has decided to set at rest H as many of the misrepresentations as H possible H Some of the most ridiculous and H absurd statements are made and it Is H really laughable to listen to them and H yet some" unsophisticated people see H no humor In the matter until It Is H pointed out Without repeating all H the Irrelevant questions asked, we will H make a number of affirmative state- H ments thatAvlll answer all reasonable H questions which an honest investor H mar wish to lnow. First of all. the South Fork Rescr-H Rescr-H voir prop'osftion la a plain business H proposition to form a million-dollar H company under the laws of Utah for H the purpose of Impounding 25,000 to H 35,000 acre-feet of water to be used H for Irrigation and other purposes. H Second The plan under which said H company Is to be incorporated, Is as I follows When 350.000 In stock has been I pledged in subscriptions, at ?35 per I share, the subscribers to the said I stock will meet for the purpose of oi-H oi-H ganlzlng the company and also of I adopting the articles of Incorporation ' I and elect directors We cannot say I how many directors there will be, or I -who will be elected The stockholders I alone can answer all that at the first I meeting The present committee, con-I con-I slsting of O B Madson, Frank Moore, I Moroni Skeen, Horace Peery, Samuel H Drowning and William Glasmann, are not the directors In the Reservoir com- pany. They simply constitute a com-H com-H inlttee appointed by the" Ogden city H council to get stock subscribed and H to do the preliminary work In form-H form-H ing the company. No member of this committee, directly or indirectly, re-H re-H celves one cent for his services In H promoting the enterprise. Alexandor i H Brewer, as President of the Weber I club, is assisting this committee. M. S. Browning and others aiding the cause do so as citizens of Weber conn- ty, bolievlng great bene'flts will result-I result-I from the building of the reservoir. Bv-I Bv-I ery person working for the cause, up I to the time the company Isjesally or-I or-I ganixed. laljors free and voluntarily I an without hope of payment of any kind H Third In order to equalize the cost H of the water to be stored, It will he I H necessary to build about one-half of the whole reservoir to start with. It will cost probably $150,000 to build the foundation of the dam to the level of the ground. There will bo no water stored at that point, the first 10 feet above the level of the ground would store onlv a few acre-feel, therefore, to store " between 10,000 and 15,000 acre-feet of water or about half of the total amount the reservoir will hold when finished. It will be neces-savy neces-savy to build the dam about 90 feet high above the ground level Owing to the fact that the extreme width of the dam will he almost 1,400 feet, the upper half will coBt almost n& much as the slower half, which will be less than half of 1,100 foot wide Hence, It will be necessarv to raise $500,000 to build one-half of the dam But the mass meeting held at the Court House ordered the committee to proceed with the organization of the company when-eci when-eci $350,000 has been pledged It is claimed and rightly too, that it will take a" vear to wisely spend 5350.0V on the dam and that during the year, when the people witness the construe tion of the big dam and see the water impounded, thit the remaining $150,-000 $150,-000 to make up the full $500,000 for the first half of the dam will be subscribed sub-scribed before the year closes without am trouble. The first $350,000 pledg-ed'will pledg-ed'will Itself be a guarantee that the other $150,000 will be on hand when needed. n Fourth What are, the chances of loss of the mouey invested9 There is a chance to lose from 10 to 15 per cent of tho first 10 per cent paid in. Each share of the stock will cost $35, payable 10 per cent within, 30 dajs after af-ter the first $350,000 is subscribed, the balance as needed, but not more than 10 per cent each 30 days Therefore, in about CO davs from now, 10 per cent of $350,000 will be paid in the Reservoir Reser-voir company's treasury The first thing the directors of the company will do is to employ one of the best con- i suiting engineers in the country to go over tho blue prints, surveys and plans of the proposed reservoir, which will cost about $1,000. If the engineer says the reservoir cannot be built for the estimated cost as made by the city engineer, then all the money will bo returned, excepting three per cent of the first 10 per cent to pay the ?1,000 consulting engineer's foes. Jf the engineer, however, reports that thevclty estimates will build the reservoir, res-ervoir, then the next thing the direc- I tors will do, will be to dig a trench several feet down to bed rock, clear ncross South Fork Canyon, to see if bed rock is within 20 feet, as reported. report-ed. At present holes have been dug about every 50 feet across the canyon can-yon to bed rock, and the same bed rock was found in each hole at the same depth and jet between any two holes there may bo a crevice or crack in which no bed rock can he found If so, then tlfb dam will not be built and the money will be refunded less what a troncji 400 feet .long and 20 feet deep would costwhich would be about equal to 12 por'cent of the first payment. pay-ment. The total loss, therefoce, would be approximately 50 cents on each share to conclusively find out if the plan is feasible and profitable If the bed rock, however, Is there as reported by the city engineer, then bids will be advertised for, and the lowest bidder, who will get the contract, will have to give a big bond to finish the work Of course, the contractor to whom Is awarded the contract, will have to bid within the estimates or the bid will be rejected. This, in short, Is the plan prepared for the Reservoir company com-pany It cannot be contracted on a safer, or a more economical basis It is absolutely fair and just. There is a chance to lose 50 cents per share, if the dam Is not built, but not otherwise. other-wise. Fifth The present subscriptions are taken on the same plan and agree ment as were those for the Ogden Sugar -factory. The chairman of the reservoir committee was also chairman chair-man of the Sugar company committee and he knows that the present plan of campaign is just tho same as he carried car-ried out in securing sugar stock subscriptions. sub-scriptions. The sugar factory wa built with the moncj subscribed and the sugar stock more than doubled in value n three years and paid n big dividend each v-ear to boot The reservoir res-ervoir stock will Increase In value even more than did tho sugar stock. Sixth It will not be necessary to build the second half of the dam unless un-less those who wont the water pay for It in advance. When tho dam Ib up 90 feet, then 5 or 10 feet can be added each month cr each year as the demand de-mand for water is made. The dam will be built so it cau be added to at any time. There are some who think we are storing too much water if we build the dam180 feet high the first year. For that reason we propose to stop bnlf way unlcBs the people should subscribe for all the water during the first year Knowing ones however say that just as soon as bed rock is in sight clear across the South Fork canyon, that every shurc of the million dollar enterprise will be subscribed for, If the price remains at only $35 per share Even some Salt Lake business men have offered to take from $5,00 to $8,000 each, if bed rock Is laid bare Why nof Water is selling at $150 to $180 per acre water right, who would not, for a real sure thing, pay $'35 for nn acre of water right when he enn sell it for four to five times as much Of course, we do not know what the stockholders will do, but we make this prediction, . THAT THE ORDERS WILL BE TO RAISE THE PRICE THE VERY MINUTE THE 400 FEET OF BED ROCK IS IN SIGHT Those who are taklngthe first chance to lose I about 50 cents a share, have a right ! to charge for taking tho chance they take They will do It, too. Visit the farms in Weber county next July and i you will find that nine out of every 10 farms arc suffering from lack of water. You will find that there Is room for several South Fork reservoirs reser-voirs Just as quickly as they can be built It means that every share of water right the company has to sell will be sold before the month of August closes this year, If the bed rock is fully exposed by that time. Some of the farmers will have to seo their crops suffer Just once more before be-fore buying water, and their delay will cause them to pay even more than $35 per share in July and August. Aug-ust. Now then, the foregoing aro the facts as they appear today and aie the only plans under which tho committee com-mittee Is asking for subscriptions The committee will not solicit Ogden people until the farmers have had a reasonable time to act. The farmers farm-ers must call meetings according to law before their irrigating companies can act, and for that reason the fanners fann-ers will be a little slow, but next week should bring the farmers into in-to action, after which every Ogdenite Ogden-ite will be called on to do his duty in this matter. Up to date approximately $225,000 lias been subscribed. The other $125,-000 $125,-000 surely will be raised, when the subscribers will be called In special meeting to elect officers. (Signed) WILLIAM GLASMANN, Chairman, South Fork Reservoir Committee &. nn |