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Collection: Directories and Documents
Interview with William Durbrow, Irrigation Leader (1958) (233 pages)
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Page: of 233
Durbrows
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payment of principle to make equal payments every
year, That was the first refinancing I did for en
irrigetion district.
So that didn't change the principle or interestee.
It didn't change the principle or intereat.
But reallocated the payments.
Reallocated the payments, yes.
Did the bondholders object to that, any of them?
Oh, there were some objections, but I succeeded in
the refinanting. to such an extent thet I became very
well-known in the finaneial center in San Francisco
and that's how I happened to go over to Nevada Irrigation District and refinance thet district.
How did you handle this refinancing, this first one?
I mean, what techniques did you use? Did you go to
San Francisco and talk to bankers...
Yes, I went to Sen Franeiseo and talked to bankers,
I remember one meeting in the Palace Hotel where I
invited representatives from all the bond houses to
come and I explained the whole situation to them, after
a luneheon, It was successful and they all cooperated
and it was a lot of fun.
Were your district bonds down in value at that time?
Yes, the district bonds were down, And I think one