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AND FARMER. VOL. 1. THE DELTA INVESTMENT COMPANY. CAPITAL STOCK $500,000, ASSETS $600,000, SURPLUS $JOO,OOO A STRONG CORPORATION FORMED TO ASSIST IN DEVELOPING THE IMPERIAL SETTLEMENTS. A new corporation has been formed on a solid financial basis that will take a very active part in developing the resources of the Imperial Settle ments. This corporation is composed of some very solid business men, mostly citizen of Los Angeles, and the property held by the corporation when it starts business is ot a substantial character that will increase in value rapidly as the Imperial Settlements increase in population and wealth. Any one can readily ascertain this fact by examining into the financial status of the California Development Company and the Imperial Land Com pany one year ago, and compare the standing then with their status today. Also by comparing the values of land and water rights in the Imperial Set tlements one year ago with their values today. N. W. Stowell, an old-time success ful business man of this city, is the president of the company, with George Chaffey vice-president, Rusk Harris second vice-president, A. M. Chaffey secretary and treasurer, A. H. Heber general manager, and Harris & Swan wick attorneys. This corporation is able to refer, by permission, to the Farmers and Mer chants Bank, the First National Bank and the Southern California Savings Bank — all of Los Angeles, and East ern references can be furnished on ap plication. The company has just issued a neat announcement in pamphlet form and in that announcement the future work or the corporation is so tersely told that we cannot do better than to in corporate the salient points of that official statement in this article for the benefit of the readers of the Press, as follows: The Delta Investment Company is incorporated under and by virtue of the laws of the State of New Jersey, with a capital stock of $500,000, divid ea into 5000 shares of the par value of $100 each, and under such laws and the provisions of its charter, its capi tal stock is non-assessable after issue and delivery. Its officers and directors, except the three last named, are representative and successful business men of the city of Los Angeles, long resident of the city; of financial strength, and are well and favorably known, therefore require no especial mention. Mr. Heber, the general manager of the company, has recently removed to this city permanently from the city of Chicago. Ke has been at the head of similar institutions, and has been suc cessful. He has had large experience in the line of business in which the company proposes to engage. He is also at the head of the Cameron Lake Cattle Company, a corporation of which the principal stockholders are Eastern bankers and capitalists, which said company is now preparing to plant to alfalfa and stock with cattle, a tract of 10,000 acres of land situated in the valley in which this company proposes to transact a portion of its business. The company occupies a unique posi tion in the State of California, and one which will serve to unfold the great opportunities for the safe and conser- "Water is King— Here is its Kingdom.' 9 IMPERIAL, CAL, SATURDAY, NOVEMBER 9, 1901. vative investment of capital in the State, more especially in the southern portion thereof. In order to acquaint the reader with the business for winch the corporation has been formed Article 111 of its charter is quoted in full, as follows: ARTICLE 111. "The objects for which this corpora tion is formed are as follows: To pur chase or otherwise acquire, hold, own and sell all or any portion of the cap ital stock of other corporations; to borrow money, to issue bonds, trust deeds and other evidences of and se curities for moneys borrowed; to ne gotiate the sale of mortgages, bonds and other securities; to negoti ate the sale of municipal bonds and securi.es; to acquire, hold, sell, lease and otherwise deal in real and SCENE ON CARTER RIVER. IMPERIAL, SETTLEMENT. WHAT IS IN THE SKY ? personal property; to acquire water and water rights; to establish plants for the purpose of generating gas and electric lights; to promote and finance other corporations; to generate elec tricity and transmit and sell the same to others to be used for light or pow er purposes; to act as agent for the sale of real and personal property and generally to do all other acts neces sary for the accomplishment of the purposes for which it is formed." From the business in which the company proposes to engage, it may be seen that the prospects for large returns to its stockholders, through the distribution of dividends, are cer tainly very promising. It is, however, preferred not to indulge in promises with respect to the payment of divi dends, but rather trust the reader to make his or her own deductions and calculations, taking as a basis the facts exposed to him or her in these pages. Deeds performed are far bet ter than empty promises. Conserva tive and economical management is guaranteed. The great development now pro gressing on the Colorado Desert, so called, extensively advertised and better known as the Imperial Settle ments, affords a magnificent field for the operations of the company to en gage in practically all of the business mentioned in its charter above quoted. New railroads will be built into the Settlements. New towns will spring up and grow into cities. New munici palities will be organized and will re quire money, and to secure the same will issue bonds and other evidences of indebtedness. New industries will spring up, such as packing plants, sugar beet factories, flouring mills, etc., which .will require power, and which, in turn furnishes the incentive and necessity for developing the great water power now running to waste through the main canals of the Califor nia Development Company, capable of conversion into over 20,000 horse pow er for use to generate electricity for the purposes mentioned. A good de mand for such power is now at hand. Over seven hundred horse power could be sold in a day at prices approxi mately double those in other locali ties. The new comer will require ad ditional funds wherewith to improve his ranch and to stock the same, which will necessitate the establish ment of banking facilities, in which the company is a potent factor. A charter to institute the First National Bank of Imperial has been applied for, in which the company will own a controlling interest. The organiza tion will probably be completed with in sixty days, and the bank in opera tion. Thus it may be said of many other needs for capital in the wonder ful country spoken of. The company intends to take advantage of the de velopment going on in the Settle ments and will lend a helping hand, and will assist in supplying the need ful capital, and by so doing it will not only help to enrich its stockhold ers, but will also assist in the up building of a worthy and new com munity. And with that end in view, it has acquired the managerial control of the California Development Company, and owns all of the capital stock of the Imperial Land Company — both non-assesable — the two corporations working hand in hand to make pro ductive the wonderful delta — the American Valley of the Nile — hereto fore more familiarly known as the Colorado Desert, and now designated as the Imperial Settlements. It must not be assumed that the operations of the company are to be limited to the locality and territory mentioned for such is not the case. On the other hand, it intends to transact business in its line or lines wherever it may be profitably obtained, whether it be in New York or California, or in any other State of the Union, or in for eign countries, as the case may be. Los Angeles may afford it room and present to it opportunities; if so, un der its charter, it is equipped to em brace such. The affairs of the company will he managed by a board of seven direct ors, under an experienced head, schooled directly in the lino of busi ness for which it is organized and in which it proposes to engage. The gov ernment of the company will be regu lated through its by-laws, a copy of which are published following this prospectus. For the benefit of the reader and the prospective investor in the stock of the corporation, a list of the assets of the company acquired to date and owned by it, together with its liabili ties, is herewith submitted: ASSETS. Par Present value. value. Cash $ 1,000 $ 1,000 Stock in the Califor nia Developm't Co. 240,000 240,000 •Stock in Imperial Land Co 500,000 102,000 Land scrip in the California Develop ment Co 25,000 25,000 Unsold treas'ry stock 232,000 232,000 $998,000 $600,000 LIABILITIES. Capital stock issued and out standing $268,000 Capital stock in treasury, un issued 232,000 Surplus 100,000 $600,000 From the above correct statement, the company begins business with an actual surplus of $100,000, and an es tablished business on a money-mak ing basis. In addition it has a valu able five-year contract with the Cali fornia Development Company to buy and sell the Securities acquired and issued by said company, consisting of notes secured by mortgage given by the Imperial settlers and investors in land located in the Settlements, to purchase and negotiate the sale of the bond issue of said last-named com pany, comprising a half million dol lars. It has an option maturing in January, 1903, to purchase 892 addi tional shares of the par value of $100 each in the California Development Company at a satisfactory price. It has the right to promote and develop the water power and to convert the same into electrical energy from the canals owned by said company. The Imperial Land Company, the stock of which is owned by the Delta Investment Company, has a valuable ten-year contract with the California Development Company as the exclu sive agent for such company for sell ing and leasing all of its water shares and lands, running up into the mil lions of dollars. One-fourth of the gross proceeds from all sales and leaseholds is the compensation to such general agent, and by virtue of its position as general agent for said California Development Company, it owns and controls the right of way throughout the valley for the building of railroads, telephones and telegraph lines, and to take advantage of such, a railroad company is being promoted to enter the valley for the accommo dation of settlers, a charter for which has been prepared and is ready for execution. By reason of its ownership of all the capital stock of the Imperial Land Company, it owns and receives all of the profits derived from the location and establishment of all townsites throughout the valley and settle ments, under the control of the Cali fornia Development Company. Three of such townsites have been platted, and lots therein are now being placed on the market for sale at the price of $100 to $150 per lot, spot cash, and are in excellent demand at such prices, which will be doubled soon. Three other towns will soon be located, platted and lots therein placed on sale. In view of the fact that the prin cipal and most valuable asset owned by the Delta Investment Company is composed and consits of stock in the California Development Company, the reader, therefore, is entitled to infor mation concerning the property repre- No. 30.