170 



THE IRRIGATION AGE. 



CHICAGO MONEY CENTER FOR IRRIGATION 

 ENTERPRISES. 



Chicago banks are financing all the enterprises 

 under private control for reclaiming the arid regions. 

 A writer in the Chicago Journal of recent date says: 



"In the gigantic movement tinder way for the 

 reclamation of the arid regions of the West the breath- 

 ing of life into a new country Chicago looms up as 

 the foster mother of irrigation. 



Mr. Frank J. Bramhall, of the Southern Pacific Railway, San Francisco. 



"The West is looking, and has looked since the 

 birth of private irrigation enterprises, to Chicago for 

 its money. Those close to the interests of the West say 

 that in the last two years millions of dollars secured 

 in Chicago has allowed private and independent com- 

 panies to profit by the experience of the Government in 

 reclamation work and become pioneers in the task of 

 converting dry, virgin cactus-bearing desert into fertile 

 farm lands, well watered and bearing abundant crops. 



"Chicago financiers more than those of any other 

 city are financing the irrigation enterprises. Both pri- 

 vate companies and municipalities look upon this city 

 as the great money center whose wealth shall make the 

 desert bloom. What Pittsburg was to the development 

 of the oil fields, what Boston was to copper, and what 

 New York became to iron, cotton and transportation, 

 Chicago has become to irrigation enterprises. Not an 

 irrigation scheme is launched in the West until Chicago 

 financiers are consulted on the money side of it. Bos- 

 ton and New York handle some of the irrigation bonds, 

 but financiers there know that the enterprise has the 

 approval of some reputable Chicago house, and that 

 Chicago money is the money behind the new West. 

 Only after the irrigation enterprises have received the 

 approval of some reputable Chicago house will an east- 

 ern financier touch the Western securities. 



"Millions of acres of Western lands have been 

 watered and settled with the money furnished from 

 this city. The benefit to Western States has been almost 

 incalculable. They have become richer by several mil- 

 lion dollars. By one venture alone, one of the first 

 financed by Chicago, eight or ten millions were added 

 to the property valuation of the State of Idaho. This 

 venture was the reclamation of 120,000 acres of sage 



brush land into one of the most fertile portions of the 

 West in the Twin Falls region. 



"Chicago furnished $600,000 for this enterprise. 

 Six to eight thousand people rushed into the region 

 and became landowners. In Cassia County three towns 

 sprang up like magic, the largest, Twin Falls, with a 

 population of 2,000. A branch of the Oregon Short 

 Line was constructed, tapping a region of 700,000 acres. 

 The accomplishment of the settlers surprised even them- 

 selves. It was only 100 days from the time the sage 

 brush disappeared until the first crop of grain was 

 harvested. 



"Many other such instances can be counted through- 

 out the West. On the other hand, however, many fail- 

 ures have followed private organization. These, almost 

 without exception were fostered by 'wildcat' promoters 

 who had no fitness whatever for the development which 

 they promised, and in many cases there was no inten- 

 tion of good faith. It is against the prejudice and havoc 

 resulting from these fake enterprises that promoters of 

 legitimate schemes have to work. 



"Investors who have been 'bitten,' however, are 

 gradually availing themselves of the safeguards which 

 sound financial backing assure. With the Chicago 

 stamp on it, an irrigation project is taken to be the 

 best there is. Several Chicago concerns have made a 

 specialty of the financial end of irrigation enterprises 

 and have trained and capable field lieutenants who make 

 surveys and go into titles and grants. Chicago bankers 



Major Fred R. Reed, "The Sage of the Sage Brush," Burley, Idaho. 



realize the enviable position they have attained and are 

 zealously guarding the city's reputation, lest unscrupu- 

 lous promoters locate here. Publicity is the poison given 

 to fake schemes. 



