Let Us Have the Truth the Whole Truth And Nothing But the Truth a Speech Deli
Let Us Have the Truth the Whole Truth And Nothing But the Truth a Speech Deli
Charles Averill Barlow
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CREDITOR BUYS IN THE ENTIRE PROPERTY FOR $380, 000. This litigation resulted in all of the prop- erty of the Bear Valley Irrigation company (WHICH THE YEAR BEFORE WAS CARRIED ON THE BOOKS AND INTO THE STATEMENTS AND PROSPEC- TUSES OF THE COMPANY AS BEING WORTH OVER $5, 000, 000) being sold to a judgment creditor of the company for $380, - 000, subject to about $450, 000 the mortgage indebtedness, and $153, 000 the receiver's certificates. PRESENT VALUE OF THE PLANT. Within the last month a plan... of re-organ- ization of the Bear Valley property has been in active negotiation between the users oi water under the Bear Valley system and the present owners of the property with the re- Eult that the owners of the property and those having liens upon it, includdng the owners of the mortgage and the holders of the receivers' certihcates, have all proposed to sell and surrender all interest in the prop- erty lor the sum of $525, 000, and to take their pay in long-time bonds, bearing a low rate of interest to be made a lien upon the prop- erty.
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