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Show iRRBGATiON BONDS 'MSB Of LOANS C. W. Hesler of Boise, Ida., who announces an-nounces Intention to attend tho National Na-tional congress, has sent In to the congress headquarters a 3ugestion that appeals to Secretary Arthur Hooker as being one of value. In his letter Mr. HeBler says: "Ic occurs to me that one of the things most vitally necessary iu irrigation ir-rigation matters today is the placing of irrigation securities on such a basis ba-sis that they will be looked upon by tho Investing public with a greater degree of confidence than has characterized char-acterized them in tho past. "Idaho, for instance, has one of the best Irrigation district laws in the United States, and it strikes mo that one way In which the state can show its confidence in the securities issued under district organizations would be for tho legislature to enact a law authorizing banks to accept tho bonds of such districts as securities for .state deposits in the same way that school district bonds are now used. The availablility of school district bondu for these purposes undoubtedly gives them a much higher market value than they would otherwise have. "Proper safeguards should bo thrown around Irrigation bonds that aro used In this way, and only bonds that have been IsBued long enough to have "ripened" should bo accepted. The plan, with those safeguards, In my mind is entirely feasible, and I hope that other corporations that arc In the market for utility bonds would look favorably toward these issues If tho state were behind them In some such way." oo |