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THE IRRIGATION AGE. 



6% Bonds at Par 



Nine Miles From Denver, Colorado 



begins a farming area stretching from Denver half 

 way to the celebrated Greeley and Longmont region 

 (the best known irrigation district in the world) which 

 is the basis of an issue of bonds now owned and of- 

 fered by us, namely: 



6% Land Secured Bonds 



due each year from 3 to 11 years. Principal and semi- 

 annual interest payable at American Trust & Savings 

 Bank, Chicago. Denominations $100, $500, and $1,000 

 (orders accepted for single bonds) issued by the 



Denver Reservoir Irrigation 

 Company 



which has acquired and merged into one system the 

 properties of 9 active, operating irrigation companies in 

 the immediate vicinity of Denver, thus endueing the 

 Company with some of the earliest water rights in 

 Colorado, dating back 30 and 40 years. 



These water rights give prior use of the direct river 

 flow and the flood waters of the principal streams of 

 the eastern slope of the Rocky Mountains, besides tap- 

 ping the Fraser, the largest river on the western slope. 

 Water stored in reservoirs for use in the summer after 

 the streams fail is indispensable to sugar beets and 

 other late crops. Stored Water is Stored Wealth. 



Security Under the Bonds: 



Primarily, mortgage liens on the Denver Reservoir 

 Irrigation Company's system, including water rights, 

 canals, reservoirs, sites, etc., and all properties now 

 owned or hereafter to be acquired by the Company, 

 conservatively estimated worth between 



Two Million to Three Million Dollars 



Secondly, collateral security in the form of mort- 

 gage liens upon farm and orchard land to be supplied 

 with contract water derived from sales of reservoir 

 stock representing water rights sufficient for the land, 

 and by the water stock itself, which is not delivered 

 to purchaser until his payments are completed. 



The farmer has ten years to pay for a perpetual water right at 

 $50 per acre. The deed of trust securing the bonds provides that 

 these mortgage liens given to secure the payments for water rights, 

 shall be deposited with the AMERICA* TRUST & SAVINGS 

 BANK, CHICAGO, TRUSTEE, in the ratio of one and one- 

 quarter times the amount of the bonds issued, which ratio must be 

 maintained during the life of the bonds. 



Trowbridge & Niver Co. 



(INCORPORATED) 



Municipal Bonds 



First National Bank Building, Chicago 



The value of the collateral security therefore may be stated as 

 follows: 



As security for each $1,000 bond in addition to the liability of 

 the company, the trustee bank holds $1,250 mortgage liens upon land 

 estimated worth, with water, over $3,000, or THREE TIMES the 

 amount of the bond. 



The Denver-Greeley District 



is said to be the richest farm and fruit community in 

 the world, producing apples, cherries, strawberries, rasp- 

 berries, melons, sugar beets, peas, onions, potatoes, as- 

 paragus, tomatoes, cucumbers, etc., which, owing to 

 their quality and the proximity of Denver, the market 

 place of over a million people in Colorado and sur- 

 rounding states, yield an income of $250 to $1,000 per 

 acre. 



These securities are unparalleled in attractiveness 

 in the history of irrigation in the United States in the 

 following respects: 



FIRST, Location: Namely, immediately adjoining 

 Denver, the metropolis of the growing West, with a 

 dozen railroad systems which distribute Denver-Greeley 

 products to the whole Rocky Mountain region extend- 

 ing from Montana to Texas, affording a ready market 

 for all that can be produced in a radius of many miles, 

 giving a potential value to these lands beyond that, of 

 any irrigated section east of California. 



SECOND, Comparative values: In other irrigated 

 sections fruit lands command from $300 to $2,000 per 

 acre; farm lands from $100 to $350 per acre, even in iso- 

 lated and sparsely settled localities. 



The lands adjoining Denver on the west and north command 

 $200 to $1,500 per acre, but as a basis for estimating the security 

 tinder these bonds, we have taken $100 per acre as the land value 

 while our mortgage liens securing the bonds represent only $32 

 per acre. 



Purpose of Bond Issue: 



These mortgage liens are pledged to secure 

 funds for canal extension and construc- 

 tion of the Standley Reservoir 10th and 

 largest in the system. 



Expert report by Dr.'Elwood Mead 

 Chief of United States Govern- 

 ment Irrigation Investigation 

 Department and an illustrated 

 booklet will be furnished on 

 request. 



Trowbridge 

 & Niver Co., 

 First National 

 Bnnk Bldg., 

 Chicago, Illinois 



Please send copy o' re- 

 port, illustrated pamphlet 

 and further particulars re- 

 garding Denver Reservoir Irri- 

 gation Company 6 per cent bonds 



Name 



Street and No 



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When writing to advertisers please mention The Irrigation Age. 



