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Collection: Directories and Documents
Interview with William Durbrow, Irrigation Leader (1958) (233 pages)
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Page: of 233
Durbrow?
Baum:
Durbrow:
Baum?!
Durbrow:
Baum?
Durbrow
Baum?
133
the bonds rose in value.
Because you hed this R.P.C. deal, you were able to
make a private deal,
The R,F.C. deal had done this for me, it had given
me a report on the dietrict. They had thoroughly
gone into the details of the district, its contracts
and everything else. That was the help it had given
me, And it had given me a rotten deal so that 1.
could turn to the bondholders and get ea better deal.
You could say, "Look what's going to happen. You're
only going to get fifty cents on the dollar and you'd
better do something about it."
Yes, and instead of that they got a hundred cents on
the dollar. .
That was pretty elever financing, I think, The R.F.C.
didn't know you were going to do that, did they?
Well, I didn't tell them what I was going to do, I
merely told them I didn't care how bad their deal
was, I wanted a deal, Schramm hed refused to give me
a deal. I respect him, he had e good reason for doing
that. But knowing me so well, he did say, "You can
go before the big board,” and that was the turning
point. That gave me a chance.
I noticed in one of the things you sent out, that in