Page images
PDF
EPUB

Mr. RAKER. Now, have you given to the committee the names of the directors of your company?

Mr. WEST. I can, if you like.

Mr. RAKER. Will you do so, please?

Mr. WEST. Yes, sir.

Mr. RAKER. And state what other companies you represent. Have you the names?

Mr. WEST. Well, I can give you the directors of the holding company, that owns this whole thing; that is really what you want, is it not?

Mr. RAKER. Yes; that is what I want.

Mr. WEST. I have here a statement from the annual report of the California-Nevada Electric Corporation. The directors are: D. H. Hoover, George E. Cranmer

Mr. SWING (interposing). Will you give their residences also?

Mr. RAKER. Before you do that, let me put another question in: Is it not a fact that part of this 25 per cent of uncultivated lands under the Imperial district system is now owned by nonresidents that are simply holding it for speculation?

Mr. WEST. I presume that is true.

Mr. RAKER. That occurs in that, as well as in other places.

Mr. WEST. The percentage, though, is nearer 40 than 25; it was 40 per cent last year. But I assume that this year there is more land going in, as there is a better price for cotton; and in order to make the statement conservative, I made it 25 per cent.

Mr. SWING. A considerable portion of that is in the northern part of the valley, and there is a syndicate there in which Mr. Chandler is a stockholder?

Mr. WEST. Yes; there is quite a lot of that land.

Mr. LITTLE. Suppose the landowners are nonresidents? What does the land sell for?

Mr. WEST. At this time you can buy good, improved land in Imperial Valley for between $100 and $150 an acre. I refer to land that is leveled and cultivated and fenced, with some improvements on it. Mr. ALLGOOD. What kind of cottom do they grow? Do they have the long staple cotton over there?

Mr. WEST. No.

Mr. LITTLE. You could get lands for that in Kansas.

Mr. WEST. Yes; but that becomes an important factor if you consider increasing the cost of water to the farmers in that community.

Mr. RAKER. We must admit that there is a shortage of water for the lands that can be irrigated in Imperial Valley.

Mr. WEST. No; I would not say there was to-day.

Mr. LITTLE. What was that land worth when those fellows went in there and began going into debt to cultivate it?

Mr. WEST. Before they brought the water in the land did not have any value.

Mr. LITTLE. And now it is worth $150 an acre?

Mr. WEST. You can buy good land down there for $100 an acre. I do not look upon this as a normal situation; but it is a fact that you can go in there and buy good land at $100 an acre.

Mr. RICHARDS. How much is that land assessed at?

Mr. WEST. It is assessed at $100 an acre.

Mr. RICHARDS. And what is the tax rate?

Mr. WEST. $5 an acre; that is the irrigation district rate.
Mr. RICHARDS. And what are the State and county taxes?
Mr. WEST. I think that is about $2.

Mr. RAKER. Now, will you give us the names of the directors?
Mr. SWING. With their residences?

Mr. WEST. D. H. Hoover, Denver, Colo.; George E. Crammer, Denver, Colo.; S. W. Hicks, Denver, Colo.; E. S. Kassler, Denver, Colo.; Lawrence C. Phipps, jr., Denver, Colo.; W. E. Porter, Denver, Colo.; M. D. Thacher, Pueblo, Colo.; and Arthur B. West, Riverside, Calif.

Mr. SWING. Your residence, before coming to Riverside, was where?

Mr. WEST. Denver.

Mr. RAKER. What is the name of the holding company?
Mr. WEST. The Nevada-California Electric Corporation.
Mr. RAKER. Now, how is that capitalized? At what amount?
you remember?

Do

Mr. WEST. Mr. Phipps, our treasurer, is coming on the stand, and he can answer those questions. I am on the operating end of those companies, and really do not have anything to do with the financing.

Mr. RAKER. Well, if it will save time

Mr. WEST (interposing). I will either read that into the record or will have Mr. Phipps do so when he comes on the stand.

Mr. RAKER. All right. Now, what companies does this holding company control?

Mr. WEST. It controls the Nevada-California Power Co.

Mr. RAKER. And where is the Nevada-California Power Co.'s office?

Mr. WEST. Well, the operating offices of all of these companiesthese underlying companies are at Riverside, Calif.

Mr. RAKER. All right; that is one. The holding company is the

first one.

Mr. WEST. Yes. Its office is in Denver.

Mr. RAKER. Now, the Nevada-California Power Co. has its main office in Riverside?

Mr. WEST. Yes; and I am the vice president and general manager. Mr. RAKER. Now, will you give the names of the directors of that company?

Mr. WEST. I can not do that. I can secure them and turn them into the committee. There are eight or nine of these companies; I can not recall the directors of all of them.

Mr. RAKER. All right; you will do that, will you?

Mr. WEST. Yes, sir.

(The statement referred to is as follows:)

Hon. ADDISON T. SMITH,

SOUTHERN SIERRAS POWER Co.,
Riverside, Calif., March 21, 1924.

Chairman Committee on Irrigation and Reclamation,

House of Representatives, Washington, D. C.

DEAR SIR: Pursuant to telegraphic request of Mr. West, I inclose herewith for insertion in record covering Mr. West's testimony before your committee on March 19, a statement showing the subsidiary companies of the Nevada

California Electric Corporation, giving the place of incorporation, date of incorporation, capitalization, and names of the members of the boards of directors or trustees.

Very truly yours,

H. DEWES,

Assistant to President and General Manager.

THE NEVADA-CALIFORNIA POWER CO.

Place of incorporation: Incorporated under the laws of the State of Wyoming. Date of incorporation: January 5, 1907.

Capital stock: Authorized, $10,000,000; issued, $6,500,000; par value, $100. Board of trustees: E. S. Kassler, G. E. Cranmer, W. E. Porter, L. C. Phipps, jr., S. N. Hicks, W. C. Simmons, A. B. West.

THE SOUTHERN SIERRAS POWER CO.

Place of incorporation: Incorporated under the laws of the State of Wyoming. Date of incorporation June 15, 1911.

Capital stock: Authorized, $5,000,000; issued, $5,000,000; par value, $100. Board of directors: E. S. Kassler, L. C. Phipps, jr., G. E. Cranmer, W. S. Fisher, W. E. Porter, W. C. Simmons, A. B. West.

INTERSTATE TELEGRAPH CO.

Place of incorporation: Incorporated under the laws of the State of Nevada. Date of incorporation : October 5, 1910.

Capital stock: Authorized, $500,000; issued, $500,000; par value, $1.

Board of directors: A. B. West, F. O. Dolson, A. S. Cooper, P. R. Ferguson, W. E. Porter.

HILLSIDE WATER CO.

Place of incorporation: Incorporated under the laws of the State of Nevada. Date of incorporation: September 14, 1887.

Capital stock: Authorized, $500,000; issued, $500,000; par value, $10.

Board of trustees: E. B. Criddle, A. B. West, Lawrence C. Phipps, jr., Roy N. Hill, J. S. Bordwell.

CAIN IRRIGATION CO.

Place of incorporation: Incorporated under the laws of the State of Dela

ware.

Date of incorporation: March 15, 1915.

Capital stock: Authorized, $3,000,000; issued, $2,986,900; par value, $100. Board of directors: J. S. Cain, A. B. West, J. S. Bordwell.

THE IMPERIAL ICE & DEVELOPMENT CO.

Place of incorporation: Incorporated under the laws of the State of Dela

ware.

Date of incorporation: June 21, 1916.

Capital stock: Authorized, $1,000,000; issued, $1,000,000; par value, $100. Board of directors: A. B. West, J. E. Collins, E. B. Criddle, R. P. Moore, A. S. Cooper.

DESERET WATER, OIL & IRRIGATION CO.

Place if incorporation: Incorporated under the laws of the State of Nevada.
Date of incorporation: June 2, 1911.

Capital stock: Authorized, $100,000; issued, $1,500; par value, $100.
Board of directors: A. B. West, A. S. Cooper, F. O. Dolson.

SILVER LAKE POWER & IRRIGATION CO.

Place of incorporation: Incorporated under the laws of the State of Nevada. Date of incorporation: March 9, 1907.

Capital stock: Authorized, $5,000,000; issued, $100,300; par value, $100. Board of directors: I. B. Potter, A. B. West, C. O. Poole, E. B. Criddle, C. A. Kelley.

THE SIERRAS CONSTRUCTION CO.

Place of incorporation: Incorporated under the laws of the State of Wyoming.

Date of incorporation: June 15, 1911.

Capital stock: Authorized, $500,000; issued, $18,200; par value, $100.

Board of directors: E. S. Kassler, W. E. Porter, A. B. West, L. C. Phipps, jr., W. C. Simons.

Mr. RAKER. All right. Now, the other companies?

Mr. WEST. The Southern Sierras Power Co.

Mr. RAKER. The Southern Sierras Power Co.; now, its main office is at Riverside?

Mr. WEST. Yes, sir.

Mr. RAKER. And its directorate you will give?

Mr. WEST. Yes, sir.

Mr. RAKER. And you hold what position in that company?

Mr. WEST. Of the Southern Sierras Power Co., I am president. Mr. RAKER. Also you are president of that?

Mr. WEST. I am vice president and general manager of the NevadaCalifornia Power Co., and I am president and general manager of the Southern Sierras Power Co.

Mr. RAKER. And its capital you will be able to furnish, will you? Mr. WEST. Yes, sir; you want the capitalization?

Mr. RAKER. Yes. Now, the next one?

Mr. WEST. The next one is the Interstate Telegraph Co.

Mr. RAKER. With offices where?

Mr. WEST. Riverside.

Mr. RAKER. And what official position do you hold in it?
Mr. WEST. I am president of that company.

Mr. RAKER. You are president; and have you the directorate of that?

Mr. WEST. No. I will furnish the directorate of all of these companies.

Mr. RAKER. Now, name the next one.

Mr. WEST. The Hillside Water Co.

Mr. RAKER. And its main office?

Mr. WEST. Riverside.

Mr. RAKER. And what official position do you hold in it?
Mr. WEST. I think I am vice president of that company.

Mr. RAKER. And its directorate you will furnish, will you?
Mr. WEST. Yes, sir.

Mr. RAKER. And the next one?

Mr. WEST. The next one is the Cain Irrigation Co. These two companies own lands in Inyo County and in Mono County that we purchased in connection with securing waters that we required. Mr. RAKER. What position do you hold in that?

Mr. WEST. I am vice president.

Mr. RAKER. And the directorate, have you that or will you furnish it?

Mr. WEST. I will furnish it.

Mr. RAKER. And what is the next company?

Mr. WEST. The Imperial Ice Development Co.

Mr. RAKER. And what official position do you hold in that?
Mr. WEST. I am president.

Mr. RAKER. And its main office?

Mr. WEST. Its main office is at Riverside.

Mr. RAKER. The next one?

Mr. WEST. The Silver Lake Power & Irrigation Co.

Mr. RAKER. And its offices are at Riverside?

Mr. WEST. Yes, sir.

Mr. RAKER. And what position do you hold in it?
Mr. WEST. President.

Mr. RAKER. And have you the directorate of that?

Mr. WEST. Yes; that is not an active company; it appears in our corporate structure.

Mr. RAKER. Yes; but you will give us its directorate. And what is the next one?

Mr. WEST. The Sierras Construction Co.

Mr. RAKER. And its main office?

Mr. WEST. Riverside.

Mr. HAYDEN. Is the main office of all of these companies Riverside?

Mr. WEST. Yes, sir.

Mr. HAYDEN. Then let us save time by taking them all together. Mr. WEST. I made that statement that they were.

Mr. RAKER. It is easier that way; but sometimes you get things mixed up in that way.

Mr. LEATHERWOOD. There is one thing you forget. Take a large group of companies like this and they will have a publicity agent. Mr. RAKER. I am going to enter into that. What position do you hold in that last company?

Mr. WEST. I am president of the Sierras Construction Co.

Mr. RAKER. And the next one is what?

Mr. WEST. The Deseret Water, Oil & Irrigation Co.

Mr. RAKER. Deseret ?

Mr. WEST. Yes, sir; that is a company that we inherited. I am giving you the names of all of them.

Mr. RAKER. That is what we want.

Mr. HAYDEN. How many are there altogether?

Mr. WEST. There are nine of them.

Mr. RAKER. I have nine here, I think.

Mr. WEST. The Holton Power Co. went out of business.

Mr. RAKER. Let me get the balance, so that I will not leave out what ought to go in the record. What position do you occupy in this Deseret Water, Oil & Irrigation Co.?

Mr. WEST. I think I am vice president of that company.

Mr. RAKER. Is that all now?

Mr. WEST. Yes, sir.

Mr. RAKER. And you will give the directorate of this Deseret Co., will you?

Mr. WEST. Yes, sir.

Mr. SWING. May I refresh his memory, Judge Raker, when you get through?

Mr. WEST. The Holton Power Co. The Southern Sierras Power Co. acquired the properties of the Holton Co. the first of the year. Mr. SWING. There are two more-the Bishop Light & Power Co.

« PreviousContinue »