May 14, 1928 (6 pages)

2uctetrler eas CRA ge NI Et een ores! Tf HE NEVADA cry NUGGET, CALIFORNIA, The Nugget Is Your Home Town Newspaper MONDAY, MAY 14, 1928 FROM OUR READERS (The following is a continuation of the stenographic record of the speech made by A. L. Wisker at the meeting held in Penn Valley prior to the 1925 election to vote $7,250,000 in bonds for the Nevada Irrigation District. It is being printed by request.—Pub.) Another’thing: The Board of Direetors declare that in the construction of the distribution. (system the same policy will govern and they will build it’ only as expectant revenue will make it a safe thing to undertake without a land tax and then on top of that and just to take care of another condition that would be awfully disadvantageous to the public, this condition: Suppose after We get started and it is evident that this is going to be a splendid part of California, that a lot of these land speculators from Southern California were looking for new fields, and they have their eyes this way, supnose they should. come up here and pick ups ome of these large mon around Spencerville and other places where they.can buy eight hundred acres or so.~ Well,. then, and let them lay idle there while everybody else was using water and paying water bills and making this a fine country and doubling and trebling and quadrupling values in lands. Suppose that had happened and the Board of Directors had promised to never make a land tax under any circumstances. Those folks would just sit there tight and all of you would make their property valuable. Finally they would ecdsh in on it, at two or three times what. they had paid. To do away with that thing, the Board of Directors has left its hands free to levy a land taxif the majority of the people of Nevada County ever demand it. This-is what is going to happen. In the course of time the majority of the land owners of this territory will be water users. The will be irrigators and they will be contributing through their purchase of water to the annual operating charges of the District. When that day comes, if: large tracts of land are laying there dry-farmed or not farmed at all, speculators from the outside holding it for lgnd increase, these peoplewill very prob ably say “It isn’t right, we are packing the load and we are paying the cost.”” They will come to the Board of Directors and say ‘We will petition them to put a_ reasonable and not a burdensome and not an unjust and an unfair, and not a burdensome, land tax on all thel ands of the territory so that every Jend owner will contribute something and to take off of thew ater rate the oxcess amount that is put on asa land tax. That is absolite justice ond that is gondp ublie policy, will force ithe un of Ivrze tracts of land and promote colonists ond land settlement and that is the thing that will make this a fine tertraets combecause it euttinge ritory. But along with that.reselntiono f“the Board they have the rights of the big land owners in that such apursued until had had a mind. They declare eourse would not be thel arge land owners reasonable time to enter upon the use of water and to adjust their tvpe of farming to a type of farm ing where water could be useful. In other words the Board of Directors is trying to keep in mind the risrts of everyoné and would give the large land owner ample time to use water whieh wenld be furnished them ina rate at which they couid make a profit, end then, if theyw ere selfish enoughto want to slought heir burden onto the little men they would find they couldn’t get away with it. Because after petitioued to do so by ‘the supreme rower, the public themselves, the Board of Directors have got to take orders from you, and whenever a majority of you come to the Board of Directors with such a petition there is no question in the world but that it will be regarded and that your wishes will be carried into effect. . In adopting those resolutions the Board has felt itself free to follow “the will of the’ people. It has made plain the fact that no land tax will be required to foot the bills but it may be very desirable to promote t hepublic interest and if that time comes and if the people see it in that light the Board has left the way open to act. Now, I am not.going toend eavor today to touch upon any one of the little side issues that come up in 1 great preject of this character. This is net the time to go into things of that sort and we wouldn't have the opportunity. All of the information that any person may wish to have will be available in the District’s office at anw time that I am there to discuss it with any person, and [ want to say to every man and woman here and every man and woman in the county ‘than some of the your pencil through those figures and after that who is intereste . in this project, that they lave a right to call at the office of the District to see me whenl am there and receive information on everything that . entered: into this whole deal in every way. I won't promise that I am coinpetent to answer every question that is put up. but to the best of my ablity I shall try to do so. In a very ‘few days, prior to the election, which is soon to be acted upon by yourselves, you will receivet he District s Official Statement,, its exposition of all the facts that have been prepared. Necessarily it is rather lengthy. . hope you will all be patient enough to wade through it. As lengthy as it is, there is a lot of. small stuff we haven’t put in it because. we haven’t the unlimited millions of these other boys. We have only the taxpayers money. We are trying to make it go as far as possible. One thing will be the total amoyint of taxes leved. It will surprise you when you see the. total and find how much less it is . stories you have heard. And it will show you where . the money went each year. You will be interested in that. because you . ought to see how your money goes. You ought to feel perfectly at biber. ty at any time to come there to the office and get the official information. The one thing I-am_ going to en. . deavor to give you this afternoon,—. ! it won’t spoil that little pamphlet at all to have it,—I-am_ going to give you an extract from it that you can carry away and think over. It is on extract chowing by different periods as nearly as you can estimate it. You will get the full explanation when you get the pamphlet. I am going to give you the figures today of the estimated income, what produces it and also the expenses. When you get the little bulletin 1 hope each of you will sit down with and thoughtfully wade mage up your mind as to whether it is a reasonable documént or an unreasonable one. That is the thing you have to determine. In the end nobody-¢an make up your minds “for you. They can give you help in setting these before you but you have to do the deciding. And . when you decide there is~one thine vou have to have in mind if you . want to decide right. You have got to understand that this project is . your project. That all its rights, benefitsand values are yours. It isn’t a stoekholder’s project owned by a cor noration hack there at 26 Broadway. New York, but a mutual projec owne’ by the land holders of Nevada Irrigation District, thay and their decenfants. forever. You have got to eett hat slent into your heads if you want to understand the responsibilitv that restse on youa nd if you went to discharge that responsibility revthiiy because the gecision you arrive at doesn’t affect you: alone but every living human being that will ever own the land that you today hold title to. That water goes witb the land forever, Those water rights are rights in perpetuity, aud all the land holders of this meeting and of the county as a whole are part Own: ers in the project. That which is done is done for the people, the people through their eonstituted Now, Mr. Graser, as been good enough to fix up a blackboard that wll show some of these figures to the folks. Would you be kind enough to stick it up on the wall, (blackboard , hung in front of the audience ,etc.) . Iam not: going to ehter into any argument about these figures. They are last say. You take them or leave them. You accept them or leave them . They are ours. We stand behind them. We have the soundest reasons in the world for ‘defending thein, but I am not going to tire you by, going into~a long dissertion and go. ing into the proceedings before tlie Banking Commission, Debris Commission, Federal Power Coinmission and so on. I won’f do that, I «m only going to set. it up so you can see it. ; This is set up agencies, are doing ee themselves. to try to give you an idea of the difficulties of presenting clear cut figures and it is set up to show you the proboble minimum income, the maximum year income and average year income. Of course, every possible proposition has . to rest upon the laws of the‘aversis in any business project deals in dollars and cents. (Reporter's Noite: From this on the speaker stood between the reporter and the audience and on account of this faet the speaker’s werds became less distinct and some of the figures queted could not be caught distinctly and are not shown. ~* The power income from the Pscific Gas & Electric Company contract as the amount has been arrived at by the Engineer’s of the Gas & Electric which road Commission varies from a *:.‘water to produce ‘the San ‘the San Juan Gravel Mines and: the inittee of certain age. That is the only scientific ba. Company, the ‘District and the ™7ilimum of $370,500 a year in years when there is lots of water «and when during a part of the year they. large amount of $478,950 in a Year ‘when they can and will use all of the water of the District and I want to. say to you that the District’s-water supply in the driest year of fifty with the exception of last year which was the driest year had in seventy, between the driest year of fifty pre ceding, would have been sufficient to furnish the power company cnough this last amount. The average year is based on the use of that quantity -of water whicli by the contract they are compelled to use in the nine months from July first of one year to March thirtyfirst of the follewing year, and that average amount which under any and all conditions they are’short of their ‘own water in the months of April, ;May and June. It brings the total to ' $491,985. The amount for the mines and ‘cities remains the same at $50,500 under all conditions . The. suppiy of Juan Ridge will be taken over by the District and delivered by . the Eureka Lakes Company, the company that is Serving now but the mountain water sheds will be operat ed and maintained by the District aid the waier will be sold to the company for domestic use on the San Juan Ridge. It ranges from a minimum of Twenty-five Hundred Dollars a Kear to a maximum of Five Thousand Dollars a year. It is a small thing and it averages Three Tirousand Dollars Under the contract or gentlemen’s agreement or whatever we call it which exists. between the owners of } whole it would result in the figure as noted, 20,155 acres requiring water immediately and sixty thousand } will have plenty of their own to the . District, they will take surplus water from the District, water that we could not pass through our canals ‘andduring forty-five years of the last fifty such water delivery could have , been made. Five years in the last. fif_ty there could not have been deliv'ery. That will produce a minimum of nothing and a maximunr of Fifty rply. . Thousand Dollars a year and an av. erage on the basis of the . Twenty-five Thousand Dollars. water. of That is small money, tov, but it means the redemption and salvation of part !of Nevada County. that made this . -eountywhat -itwas in early days and it would be one of the finest things for Grass Valley and Nevada 1 City when that’ territory comes to life again. Then there is the irrigation acreage. This water will enough for forty-thousand aeres and there is thirty-two thousand acres of territory in the county or District now of farming land thatis cleared and ean be irrigated. The finest authority, statisties ~hat have been compiled in Nevada Ceunty as to the amount of this land that would require immediate irrigation and the amount of the required irrigation in ten years, W bring in water as compiled ten ol e Years -ago by a combusiness men and farmers under the guidance of our old personal friend Fred M. Miller. Many men in this audience worked with him in the preparation of that data and it shows that they had investigated and personally interviewed the owners of many thousands of-acres of land. Their statistics the ownership of ninety-three thousand acres of land and they worked out a percentage of that water within when a certain amount cover as detwo years, would demanding 2. Oop. ‘mand water in ten . ped over into Yuba County “where “Tom Peg(? and some other boys live and figured that in,—they fis ured that 20,155 would < {ready for irrigation upon the com‘pletion of the ditches and that sixty years. They lapacres ‘thousand<aeres would be demanding water at the end of ten years. When I say they figured that that w ould . be the result I mean by applying the ‘percentage that they applied to thet ninety-three thousand acres that they considered: applying those percent‘ages to. the land in the District as a GRASS VALLEY ASSAY OFFICE Under New Management Assays for . Gold, Silver, Mercury, Samples Copper, Lead, Iron, Tin or any received before 9 reported same day. H \ . uae al ; A. M. . We equipped for submitting methods Ore Testing Laboratory BEG testing. and for edrmmercial of comp’ex ores. T treatment est ores and some odd acres require Water in . ten years. It. is set up on acres at seven dollars an acre, ten eents an inch. There is a whole lot: of difference between that and water attwo bits. And that is figured that those lands will have to be supplied in wet and dry years and that the . average will be one thousand dollars. The total income in a_ total of minimum payments of $563,500 and in a period of maximum earnings ; $724,450, while the average and that is the only thing worth taking as a basis is $626,458, and the total charges: up to the end of the tenth year because bond redemptions will not commence until the end of the eleventl, and during the construction period of two years, all of the charges will take out of the bonds. The total charges during those periods and they will have to be inet every year whether, whether we lake in a little income. or big one is $—_——_—_. The surplus is as shown here in a minimum year $92,250, in the year of maximum earnings $253,200, and the $149,235, over and above every of cost, interest and maintenance. Mr. Robinson, . be good enough to turn that around. average year is item Beginning with the eleventh year when you begin to pay off your bonds and runnng to the twentyfifth year of the Pacific Gas & Electric: Company contract and the power changes, the experience will be as follows, as set forth here. At that time, the tenth year of the period covered by the report of the Miller Committee will have brought in all of the land that this bond issue will provide water for. It only provides for forty thousand acres. [t won't provide water for the sixty thousand acres that his committee decided would be to take water, so these fizures are based on what you Can supIt has been my belief that by that time the water rate should be reduced from seven doliars an acre to five dollars and consequent'y this is figured upon. the irrigation of forty thousand acres of land at five dollars. While at the first ten years it’ was figured that twenty thousand acres would be irrigated at seven dollars, and that the water for the other acres if we couldn’t sell it in Yuba County or Placer County,: it would have to go off down the stream to make good fishing in the Sacramento Valley. The other items of power and San Juan Ridge stand unchanged in that period but instead of getting—— you are getting $200,000 (? which is an addition of $60,000. ? that fifteen year the eleventh to the twentyfifth year you have started to pay off NL C.N. G. a R ‘COMPANY During period from m ms Th BLE AND RATES Effective Sunday, Sept. 25, 1927 Train leaves Nevada City at 5:20 a. m., Grass Valley at 5:50, a. m. arriving San Francisco, 1:30 p. m Train leaves Nevada City at 11:09 a.m., Grass Valley 11.25 a.m. making direct connection with S. P. Train 23 arriving at San Francisco Train reaves Nevada City at 4:4! p. m., Gras sValley 5:05 p. m., mak ing direet connection with S22P Train 40 leaving San francisco at 1 p. m., enabling passengers to ar rive at Grass Valley 7:35 p.m. and Nevada City, 7:56 p. m.Grass Valley Fares To Colfax, $1.00. Five day round rip $1.50. To Sacramento $3.22 14 day round trip $4.00. To San Francisco $6.46. 8 months round trip $10.75. Tickets sold Fridays 3aturdays and Sundays, 16 ound trip $9.50. days Nevada City Fares To Col uae $1.15.live day round trip $1.75. To Sacramento $5. cg ee day Lane trip $4.50. -To San Fran cisco $6.61. 3° months~round—trip $11.05. Tickets sold Fridays, Satur lays and Sundays, $9.80. SUMMER RATES Effective April 27 to September 30— Stopovers allowed on 16 day and 38. month tickets. Nevada City to San Francisco, 14. day limit, $9:00; Grass Valley $8:50 Nevada City to -Alameda, Py rkeley or Oakland, a6 aay limit, 38:75; Grass Valley, $8:2 Nevada City to eee Berkeley or Oakland, 3 month. limit, $10: 25; Grass Valley $10:00. Nevada City to Los Ang Stockton,b oth ways, 16 days limit, $26:50; Grass Valley $26.25. Nevada City to Los eles, via Steckton both ways, 3 months limit, $31.50; Grass Valley $3225; Nevada City to Los Angeies, via Stockton one way, returning via San Franeiseo or Phe versa, 16 day tim it, $29.00? Grass Valley $28.73. Nevada City to Los -Angcles via Stockton one way, returning via San Mpaneiseo or vice Versa, 3 months, $34.25; Grass Valley $34.00. Nevada City to Truckee, 16 day limit. $6.00; Grass Valley $5.75. Nevada City to Truckee.’ 8 month the basis of the irrigation of twenty thousand . Angeles via } ‘that from $471, 250 ‘have only got a little surplus of $-— When it comes down, then, to the twenty-sixth year of our bond issue, at which time the power contract with the Patific Gas & Electric Company suffers a tremendous reduction from $401,985 a year to $171,500 because they will pay us more dur. hundred forty . ing the first twenty-five years than . the water is worth ‘for the second twenty-five years for 'a compensated figure and we have and they get it only $450,000 a year, then, expenses and bond redemption of $561,976. And_ so for the fifteen years from the twenty-sixth to fortieth year we are going in the hole $= You: ‘willbe in-an awiul fix if you hadn't accumulated a good stiff surplus in the periods preceding that. However, during the periods preceeding the accumulated = surplus have been so great that if you look at the whole period of Your bond . We didn’t ‘have enough roomon the black board to set this up, If you look at it as a period of the whole bond issue you will have at:that time a surplus unused after you have reached the fortieth year after you have paid deficits for the last fifteeny ears of $101,000 a year for each year of thai. the accumulated surplus would have “arrived at during the first twenty-five years will leave you with only $1,083,000 left. A poor bankrupt bunch of hayseeds, ain't we, with asurplus of slightly over a million dollars. to pay would period, Suppose your Board of Directors has a little bit of sense and I think from the masterly way in which they have met our problems so far that you can take it for granted they have a little. Supposing during the period of our early income when we-were getting this surplus and had-no bonds to mature, supposing you created a sinking fund and salted down some of that money and let it pile up the interest. Suppose you only took twothirds of that money and only took it for Six years and salted it down in a sinking fund and din’t use any of this surplos of this $104,000 at all that will be coming infrom the eleventh to thé—ftwenty-fifth year, just threw that away or didni‘t inJUNE 152<3 STATE FAIR GROUN DS Be Sis / Mecitement;n Sacramento tor the’ a) round & u <P: fen a ene Tw elfth and L Streets, Sacrameito CHARLES R. FRASER ® Manager» ee re . your bondsa nd the consequence fa your expenses jhave grown to be$575,892. and you that you . ‘vest it, just let lay in the bank. , You would then have from the surplus invested. in a sinking fund _ another million dollars at the end of your period you would have. a surplus of slightly over two million dollars. You would have all your debts paid, owe no one in the country, have the grandest water systent in California and still have 2 power . } contract to go on, stif® have a water demand from the cities, still have an irrigation demand that would go on and after paying operating and maintenance cost and no bond inter‘est to take care of, could be auking about $275,000 a year This whole estimate is made upon the very worst basis possible to be made on, it is made upon the basis of selling the entire sever and a 'quarter million doltars worth of Continued on Next Fage additional. © Fare Cut to the East ‘Effective and daily ihereafter until Sept. 30. Return limit, Oct. 31 For Example, Roundtrips to— Atlanta, Georgia . $113.60 Atlantic City,N. ie sie DSO4 Boston, Mass. . <i) dodo ahralo. Ne Vos eo a 12492 ries stON, S Cc . . . 131.40 Chattanooga, Tenn. . . 107.48 CHICAGS . 1 ee GO.390 Cleveland,Ohio .°. . 112.86 Columbus, Ohio . . . 112.80 Dallas,Texas. . . « « 75.60 Denver: Golo. et GTO Detroit, Mich. se 109.92 Duluth, Minn. . .:. -. ~:99.00 Fort Worth, Texas i 79.60 Havana,Cuba. . . . 170,70 Houston, Texas . . . 75.60 Indianapolis; Ind~~. 103.34 Jacksonville, Fla. 124.68 Kansas City, Mo. . -. 75.60 Knoxville, Tenn. . 113.60 Louisville, Ky. oo. Ose _ Memphis, Tent. a BOO Minneapolis: Minn. ag 91.90 Montreal, Que. 148.72 Nashville, Tenn. . 102.86 New Orleans, La. . 89.40 New York City,N.¥. 151.70 Niagara Falls, N.Y. 124.92 Oklahoma City, Okla. 75.60 Omaha, Neb. 75.60 Philadelphia, Pa. ee) ADDS Pittsburgh, Pa. eo: 212406 Portland, Maine . . . 165.60 Providence: Ril. 4.5 157.76 St. Louis, Mo. Se S00 St. Paul, Minn. . EOE GO San Antonio, Texas . . 75.60 Savannah, Ga. i 74 Toronto, Ont. . So ea ore Washington, D.C. 145.86 Wilmington, N.C, 138.76 4 great routes fortranscontinental travel. Go one way, return another, For example: east via Chicago, re* furn via New Orleans or San Prancisco or vice versa. 8 outhern * A straiout lim GENER S OC, ber Service” calls—may manner as Pocal calls. Points to which num! designated in the front every teley hone. limit, $6.75; Grass Valley $6.50. for Amelgamation, . Concert ‘ation Floatation, Cyanidatien or any metallurgical process. Mine Examinsiions and Reports * Mill Examinations and Test!ng., 129 CH RCH ST. GaSe: Steer wis (VS a : CALIF. 7] te gt 1OHe Number—"'NumGrezter speed, economy—by telephones As axiom in mothematics says-— vf aT * — eas the shertst In che comipunication field where ime measures distance, telcphGne service a the “straicht linc. Fer telephone service is the fastest: means of conveying thought to others nearby and in disant pieces Q y ) The extension of it npr: oe 1 operating methods has dectegsed the time invols ed in completing calls to other cities and towns an F prcaily increased the arecs to which calls by e placed in the same ver service is avaflable are pages of the directory at efficiency and J MAY: 22

2uctetrler eas CRA ge NI Et een ores! Tf HE NEVADA cry NUGGET, CALIFORNIA, The Nugget Is Your Home Town Newspaper MONDAY, MAY 14, 1928 FROM OUR READERS (The following is a continuation of the stenographic record of the speech made by A. L. Wisker at the meeting held in Penn Valley prior to the 1925 election to vote $7,250,000 in bonds for the Nevada Irrigation District. It is being printed by request.—Pub.) Another’thing: The Board of Direetors declare that in the construction of the distribution. (system the same policy will govern and they will build it’ only as expectant revenue will make it a safe thing to undertake without a land tax and then on top of that and just to take care of another condition that would be awfully disadvantageous to the public, this condition: Suppose after We get started and it is evident that this is going to be a splendid part of California, that a lot of these land speculators from Southern California were looking for new fields, and they have their eyes this way, supnose they should. come up here and pick ups ome of these large mon around Spencerville and other places where they.can buy eight hundred acres or so.~ Well,. then, and let them lay idle there while everybody else was using water and paying water bills and making this a fine country and doubling and trebling and quadrupling values in lands. Suppose that had happened and the Board of Directors had promised to never make a land tax under any circumstances. Those folks would just sit there tight and all of you would make their property valuable. Finally they would ecdsh in on it, at two or three times what. they had paid. To do away with that thing, the Board of Directors has left its hands free to levy a land taxif the majority of the people of Nevada County ever demand it. This-is what is going to happen. In the course of time the majority of the land owners of this territory will be water users. The will be irrigators and they will be contributing through their purchase of water to the annual operating charges of the District. When that day comes, if: large tracts of land are laying there dry-farmed or not farmed at all, speculators from the outside holding it for lgnd increase, these peoplewill very prob ably say “It isn’t right, we are packing the load and we are paying the cost.”” They will come to the Board of Directors and say ‘We will petition them to put a_ reasonable and not a burdensome and not an unjust and an unfair, and not a burdensome, land tax on all thel ands of the territory so that every Jend owner will contribute something and to take off of thew ater rate the oxcess amount that is put on asa land tax. That is absolite justice ond that is gondp ublie policy, will force ithe un of Ivrze tracts of land and promote colonists ond land settlement and that is the thing that will make this a fine tertraets combecause it euttinge ritory. But along with that.reselntiono f“the Board they have the rights of the big land owners in that such apursued until had had a mind. They declare eourse would not be thel arge land owners reasonable time to enter upon the use of water and to adjust their tvpe of farming to a type of farm ing where water could be useful. In other words the Board of Directors is trying to keep in mind the risrts of everyoné and would give the large land owner ample time to use water whieh wenld be furnished them ina rate at which they couid make a profit, end then, if theyw ere selfish enoughto want to slought heir burden onto the little men they would find they couldn’t get away with it. Because after petitioued to do so by ‘the supreme rower, the public themselves, the Board of Directors have got to take orders from you, and whenever a majority of you come to the Board of Directors with such a petition there is no question in the world but that it will be regarded and that your wishes will be carried into effect. . In adopting those resolutions the Board has felt itself free to follow “the will of the’ people. It has made plain the fact that no land tax will be required to foot the bills but it may be very desirable to promote t hepublic interest and if that time comes and if the people see it in that light the Board has left the way open to act. Now, I am not.going toend eavor today to touch upon any one of the little side issues that come up in 1 great preject of this character. This is net the time to go into things of that sort and we wouldn't have the opportunity. All of the information that any person may wish to have will be available in the District’s office at anw time that I am there to discuss it with any person, and [ want to say to every man and woman here and every man and woman in the county ‘than some of the your pencil through those figures and after that who is intereste . in this project, that they lave a right to call at the office of the District to see me whenl am there and receive information on everything that . entered: into this whole deal in every way. I won't promise that I am coinpetent to answer every question that is put up. but to the best of my ablity I shall try to do so. In a very ‘few days, prior to the election, which is soon to be acted upon by yourselves, you will receivet he District s Official Statement,, its exposition of all the facts that have been prepared. Necessarily it is rather lengthy. . hope you will all be patient enough to wade through it. As lengthy as it is, there is a lot of. small stuff we haven’t put in it because. we haven’t the unlimited millions of these other boys. We have only the taxpayers money. We are trying to make it go as far as possible. One thing will be the total amoyint of taxes leved. It will surprise you when you see the. total and find how much less it is . stories you have heard. And it will show you where . the money went each year. You will be interested in that. because you . ought to see how your money goes. You ought to feel perfectly at biber. ty at any time to come there to the office and get the official information. The one thing I-am_ going to en. . deavor to give you this afternoon,—. ! it won’t spoil that little pamphlet at all to have it,—I-am_ going to give you an extract from it that you can carry away and think over. It is on extract chowing by different periods as nearly as you can estimate it. You will get the full explanation when you get the pamphlet. I am going to give you the figures today of the estimated income, what produces it and also the expenses. When you get the little bulletin 1 hope each of you will sit down with and thoughtfully wade mage up your mind as to whether it is a reasonable documént or an unreasonable one. That is the thing you have to determine. In the end nobody-¢an make up your minds “for you. They can give you help in setting these before you but you have to do the deciding. And . when you decide there is~one thine vou have to have in mind if you . want to decide right. You have got to understand that this project is . your project. That all its rights, benefitsand values are yours. It isn’t a stoekholder’s project owned by a cor noration hack there at 26 Broadway. New York, but a mutual projec owne’ by the land holders of Nevada Irrigation District, thay and their decenfants. forever. You have got to eett hat slent into your heads if you want to understand the responsibilitv that restse on youa nd if you went to discharge that responsibility revthiiy because the gecision you arrive at doesn’t affect you: alone but every living human being that will ever own the land that you today hold title to. That water goes witb the land forever, Those water rights are rights in perpetuity, aud all the land holders of this meeting and of the county as a whole are part Own: ers in the project. That which is done is done for the people, the people through their eonstituted Now, Mr. Graser, as been good enough to fix up a blackboard that wll show some of these figures to the folks. Would you be kind enough to stick it up on the wall, (blackboard , hung in front of the audience ,etc.) . Iam not: going to ehter into any argument about these figures. They are last say. You take them or leave them. You accept them or leave them . They are ours. We stand behind them. We have the soundest reasons in the world for ‘defending thein, but I am not going to tire you by, going into~a long dissertion and go. ing into the proceedings before tlie Banking Commission, Debris Commission, Federal Power Coinmission and so on. I won’f do that, I «m only going to set. it up so you can see it. ; This is set up agencies, are doing ee themselves. to try to give you an idea of the difficulties of presenting clear cut figures and it is set up to show you the proboble minimum income, the maximum year income and average year income. Of course, every possible proposition has . to rest upon the laws of the‘aversis in any business project deals in dollars and cents. (Reporter's Noite: From this on the speaker stood between the reporter and the audience and on account of this faet the speaker’s werds became less distinct and some of the figures queted could not be caught distinctly and are not shown. ~* The power income from the Pscific Gas & Electric Company contract as the amount has been arrived at by the Engineer’s of the Gas & Electric which road Commission varies from a *:.‘water to produce ‘the San ‘the San Juan Gravel Mines and: the inittee of certain age. That is the only scientific ba. Company, the ‘District and the ™7ilimum of $370,500 a year in years when there is lots of water «and when during a part of the year they. large amount of $478,950 in a Year ‘when they can and will use all of the water of the District and I want to. say to you that the District’s-water supply in the driest year of fifty with the exception of last year which was the driest year had in seventy, between the driest year of fifty pre ceding, would have been sufficient to furnish the power company cnough this last amount. The average year is based on the use of that quantity -of water whicli by the contract they are compelled to use in the nine months from July first of one year to March thirtyfirst of the follewing year, and that average amount which under any and all conditions they are’short of their ‘own water in the months of April, ;May and June. It brings the total to ' $491,985. The amount for the mines and ‘cities remains the same at $50,500 under all conditions . The. suppiy of Juan Ridge will be taken over by the District and delivered by . the Eureka Lakes Company, the company that is Serving now but the mountain water sheds will be operat ed and maintained by the District aid the waier will be sold to the company for domestic use on the San Juan Ridge. It ranges from a minimum of Twenty-five Hundred Dollars a Kear to a maximum of Five Thousand Dollars a year. It is a small thing and it averages Three Tirousand Dollars Under the contract or gentlemen’s agreement or whatever we call it which exists. between the owners of } whole it would result in the figure as noted, 20,155 acres requiring water immediately and sixty thousand } will have plenty of their own to the . District, they will take surplus water from the District, water that we could not pass through our canals ‘andduring forty-five years of the last fifty such water delivery could have , been made. Five years in the last. fif_ty there could not have been deliv'ery. That will produce a minimum of nothing and a maximunr of Fifty rply. . Thousand Dollars a year and an av. erage on the basis of the . Twenty-five Thousand Dollars. water. of That is small money, tov, but it means the redemption and salvation of part !of Nevada County. that made this . -eountywhat -itwas in early days and it would be one of the finest things for Grass Valley and Nevada 1 City when that’ territory comes to life again. Then there is the irrigation acreage. This water will enough for forty-thousand aeres and there is thirty-two thousand acres of territory in the county or District now of farming land thatis cleared and ean be irrigated. The finest authority, statisties ~hat have been compiled in Nevada Ceunty as to the amount of this land that would require immediate irrigation and the amount of the required irrigation in ten years, W bring in water as compiled ten ol e Years -ago by a combusiness men and farmers under the guidance of our old personal friend Fred M. Miller. Many men in this audience worked with him in the preparation of that data and it shows that they had investigated and personally interviewed the owners of many thousands of-acres of land. Their statistics the ownership of ninety-three thousand acres of land and they worked out a percentage of that water within when a certain amount cover as detwo years, would demanding 2. Oop.. ‘mand water in ten . ped over into Yuba County “where “Tom Peg(? and some other boys live and figured that in,—they fis ured that 20,155 would < {ready for irrigation upon the com‘pletion of the ditches and that sixty years. They lapacres

‘thousand<aeres would be demanding water at the end of ten years. When I say they figured that that w ould . be the result I mean by applying the ‘percentage that they applied to thet ninety-three thousand acres that they considered: applying those percent‘ages to. the land in the District as a GRASS VALLEY ASSAY OFFICE Under New Management Assays for . Gold, Silver, Mercury, Samples Copper, Lead, Iron, Tin or any received before 9 reported same day. H \ . uae al ; A. M. . We equipped for submitting methods Ore Testing Laboratory BEG testing. and for edrmmercial of comp’ex ores. T treatment est ores and some odd acres require Water in . ten years. It. is set up on acres at seven dollars an acre, ten eents an inch. There is a whole lot: of difference between that and water attwo bits. And that is figured that those lands will have to be supplied in wet and dry years and that the . average will be one thousand dollars. The total income in a_ total of minimum payments of $563,500 and in a period of maximum earnings ; $724,450, while the average and that is the only thing worth taking as a basis is $626,458, and the total charges: up to the end of the tenth year because bond redemptions will not commence until the end of the eleventl, and during the construction period of two years, all of the charges will take out of the bonds. The total charges during those periods and they will have to be inet every year whether, whether we lake in a little income. or big one is $—_——_—_. The surplus is as shown here in a minimum year $92,250, in the year of maximum earnings $253,200, and the $149,235, over and above every of cost, interest and maintenance. Mr. Robinson, . be good enough to turn that around. average year is item Beginning with the eleventh year when you begin to pay off your bonds and runnng to the twentyfifth year of the Pacific Gas & Electric: Company contract and the power changes, the experience will be as follows, as set forth here. At that time, the tenth year of the period covered by the report of the Miller Committee will have brought in all of the land that this bond issue will provide water for. It only provides for forty thousand acres. [t won't provide water for the sixty thousand acres that his committee decided would be to take water, so these fizures are based on what you Can supIt has been my belief that by that time the water rate should be reduced from seven doliars an acre to five dollars and consequent'y this is figured upon. the irrigation of forty thousand acres of land at five dollars. While at the first ten years it’ was figured that twenty thousand acres would be irrigated at seven dollars, and that the water for the other acres if we couldn’t sell it in Yuba County or Placer County,: it would have to go off down the stream to make good fishing in the Sacramento Valley. The other items of power and San Juan Ridge stand unchanged in that period but instead of getting—— you are getting $200,000 (? which is an addition of $60,000. ? that fifteen year the eleventh to the twentyfifth year you have started to pay off NL C.N. G. a R ‘COMPANY During period from m ms Th BLE AND RATES Effective Sunday, Sept. 25, 1927 Train leaves Nevada City at 5:20 a. m., Grass Valley at 5:50, a. m. arriving San Francisco, 1:30 p. m Train leaves Nevada City at 11:09 a.m., Grass Valley 11.25 a.m. making direct connection with S. P. Train 23 arriving at San Francisco Train reaves Nevada City at 4:4! p. m., Gras sValley 5:05 p. m., mak ing direet connection with S22P Train 40 leaving San francisco at 1 p. m., enabling passengers to ar rive at Grass Valley 7:35 p.m. and Nevada City, 7:56 p. m.Grass Valley Fares To Colfax, $1.00. Five day round rip $1.50. To Sacramento $3.22 14 day round trip $4.00. To San Francisco $6.46. 8 months round trip $10.75. Tickets sold Fridays 3aturdays and Sundays, 16 ound trip $9.50. days Nevada City Fares To Col uae $1.15.live day round trip $1.75. To Sacramento $5. cg ee day Lane trip $4.50. -To San Fran cisco $6.61. 3° months~round—trip $11.05. Tickets sold Fridays, Satur lays and Sundays, $9.80. SUMMER RATES Effective April 27 to September 30— Stopovers allowed on 16 day and 38. month tickets. Nevada City to San Francisco, 14. day limit, $9:00; Grass Valley $8:50 Nevada City to -Alameda, Py rkeley or Oakland, a6 aay limit, 38:75; Grass Valley, $8:2 Nevada City to eee Berkeley or Oakland, 3 month. limit, $10: 25; Grass Valley $10:00. Nevada City to Los Ang Stockton,b oth ways, 16 days limit, $26:50; Grass Valley $26.25. Nevada City to Los eles, via Steckton both ways, 3 months limit, $31.50; Grass Valley $3225; Nevada City to Los Angeies, via Stockton one way, returning via San Franeiseo or Phe versa, 16 day tim it, $29.00? Grass Valley $28.73. Nevada City to Los -Angcles via Stockton one way, returning via San Mpaneiseo or vice Versa, 3 months, $34.25; Grass Valley $34.00. Nevada City to Truckee, 16 day limit. $6.00; Grass Valley $5.75. Nevada City to Truckee.’ 8 month the basis of the irrigation of twenty thousand . Angeles via } ‘that from $471, 250 ‘have only got a little surplus of $-— When it comes down, then, to the twenty-sixth year of our bond issue, at which time the power contract with the Patific Gas & Electric Company suffers a tremendous reduction from $401,985 a year to $171,500 because they will pay us more dur. hundred forty . ing the first twenty-five years than . the water is worth ‘for the second twenty-five years for 'a compensated figure and we have and they get it only $450,000 a year, then, expenses and bond redemption of $561,976. And_ so for the fifteen years from the twenty-sixth to fortieth year we are going in the hole $= You: ‘willbe in-an awiul fix if you hadn't accumulated a good stiff surplus in the periods preceding that. However, during the periods preceeding the accumulated = surplus have been so great that if you look at the whole period of Your bond . We didn’t ‘have enough roomon the black board to set this up, If you look at it as a period of the whole bond issue you will have at:that time a surplus unused after you have reached the fortieth year after you have paid deficits for the last fifteeny ears of $101,000 a year for each year of thai. the accumulated surplus would have “arrived at during the first twenty-five years will leave you with only $1,083,000 left. A poor bankrupt bunch of hayseeds, ain't we, with asurplus of slightly over a million dollars. to pay would period, Suppose your Board of Directors has a little bit of sense and I think from the masterly way in which they have met our problems so far that you can take it for granted they have a little. Supposing during the period of our early income when we-were getting this surplus and had-no bonds to mature, supposing you created a sinking fund and salted down some of that money and let it pile up the interest. Suppose you only took twothirds of that money and only took it for Six years and salted it down in a sinking fund and din’t use any of this surplos of this $104,000 at all that will be coming infrom the eleventh to thé—ftwenty-fifth year, just threw that away or didni‘t inJUNE 152<3 STATE FAIR GROUN DS Be Sis / Mecitement;n Sacramento tor the’ a) round & u <P: fen a ene Tw elfth and L Streets, Sacrameito CHARLES R. FRASER ® Manager» ee re . your bondsa nd the consequence fa your expenses jhave grown to be$575,892. and you that you . ‘vest it, just let lay in the bank. , You would then have from the surplus invested. in a sinking fund _ another million dollars at the end of your period you would have. a surplus of slightly over two million dollars. You would have all your debts paid, owe no one in the country, have the grandest water systent in California and still have 2 power . } contract to go on, stif® have a water demand from the cities, still have an irrigation demand that would go on and after paying operating and maintenance cost and no bond inter‘est to take care of, could be auking about $275,000 a year This whole estimate is made upon the very worst basis possible to be made on, it is made upon the basis of selling the entire sever and a 'quarter million doltars worth of Continued on Next Fage additional. © Fare Cut to the East ‘Effective and daily ihereafter until Sept. 30. Return limit, Oct. 31 For Example, Roundtrips to— Atlanta, Georgia . $113.60 Atlantic City,N. ie sie DSO4 Boston, Mass. . <i) dodo ahralo. Ne Vos eo a 12492 ries stON, S Cc . . . 131.40 Chattanooga, Tenn. . . 107.48 CHICAGS . 1 ee GO.390 Cleveland,Ohio .°. . 112.86 Columbus, Ohio . . . 112.80 Dallas,Texas. . . « « 75.60 Denver: Golo. et GTO Detroit, Mich.. se 109.92 Duluth, Minn. . .:. -. ~:99.00 Fort Worth, Texas i 79.60 Havana,Cuba. . . . 170,70 Houston, Texas . . . 75.60 Indianapolis; Ind~~. 103.34 Jacksonville, Fla.. 124.68 Kansas City, Mo. . -. 75.60 Knoxville, Tenn.. . 113.60 Louisville, Ky. oo. Ose _ Memphis, Tent. a BOO Minneapolis: Minn. ag 91.90 Montreal, Que. 148.72 Nashville, Tenn. . 102.86 New Orleans, La. . 89.40 New York City,N.¥. 151.70 Niagara Falls, N.Y. 124.92 Oklahoma City, Okla. 75.60 Omaha, Neb. 75.60 Philadelphia, Pa. ee) ADDS Pittsburgh, Pa.. eo: 212406 Portland, Maine . . . 165.60 Providence: Ril. 4.5 157.76 St. Louis, Mo. Se S00 St. Paul, Minn. . EOE GO San Antonio, Texas . .. 75.60 Savannah, Ga. i 74 Toronto, Ont. . So ea ore Washington, D.C. 145.86 Wilmington, N.C, 138.76 4 great routes fortranscontinental travel. Go one way, return another, For example: east via Chicago, re* furn via New Orleans or San Prancisco or vice versa. 8 outhern * A straiout lim GENER S OC, ber Service” calls—may manner as Pocal calls. Points to which num! designated in the front every teley hone. limit, $6.75; Grass Valley $6.50. for Amelgamation, . Concert ‘ation Floatation, Cyanidatien or any metallurgical process. Mine Examinsiions and Reports * Mill Examinations and Test!ng., 129 CH RCH ST. GaSe: Steer wis (VS a : CALIF. 7] te gt 1OHe Number—"'NumGrezter speed, economy—by telephones As axiom in mothematics says-— vf aT * — eas the shertst In che comipunication field where ime measures distance, telcphGne service a the “straicht linc. Fer telephone service is the fastest: means of conveying thought to others nearby and in disant pieces Q y ) The extension of it npr: oe 1 operating methods has dectegsed the time invols ed in completing calls to other cities and towns an F prcaily increased the arecs to which calls by e placed in the same ver service is avaflable are pages of the directory at efficiency and J MAY: 22