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Show arisen:--- A number of questions lad in 1915. of' which had been issued while Water-right issuing certificates for the Secondary were shars for the old incorpotion 2,000 the shares provided for in such was The wording of the original incorporation not all used? misconstrued to indicate that we mu+ht, be carrying be could it v-Jhy were we that on profit a business instead of the non-profit intended. when the Lower Dam withstood the heav.y floods of 1915, a hea vy in out washed 1916 was by it so much damaged Although the Dam Upper was , flooqAhgheigr]_yita!f be waSned!\agross land point The in of northward a high, nor channel 'Ene was poJ.nt of fjr hf 1tRhtet18dtgr whlcn tfie Lo\ver Dam v/S .T6Cated, £an8 on to the southward, to the Railroad wss not extending from the foothills direction nearly, if not it of stone I'crmat.Lon, along the foothillssfrom a It quite pl!)ce was ' to cut decided not far below the This a small Upper Dam "cut-off" was almost direct line for the Lower Dam. the long way around; and the steeper for the river than much "Towheads a bove and soon washed its way here. mai.n stream of the .R.i. ver and of it and the Ditch below from damage; below the Lower Dam protect the soon have rendered the threatening floods v-/hi di might in an shorter and course Lower Dam useless, were relieved. 5,OOO.OO---$20,000.OO April 22, 1915 was for and 1,000 shares ¢ $10.00 per share; for Primary Water Rights, 2,000 then thought was It share. $5.90 per shares of Se condarywat.er' Rights ¢ on pasture could well be used, perhaps largely Rights the Secondary that by the Primary Rights. ve the water provided there lands, over and a 1:0 out thus, since when worked this hardly In actual practice, hew ever, into water use, River bo bring the Secondary sifficient water in the The re-incorporation was it could be Ditch brought down the Upper The Lower Ditch 493 ft., which made soon the drilling after'of a deep well, especially fell into disuse, all the water that the pumping of nearly possible below tre and along the River had been spfinging up in vlater o: "Se eondary 1941, the 627 shares 5: 1. at the ratio of Stock "Primary Capital In were issued in this Rights Upper Dam/ were converted into 118 shares of Primary Stock conversion; and the 185.00 "remainders" on peconGiar y individual's work accoun1s the credit of the sharestwere were transferred to Capital former li96 shares of outstanding This conversion increased the s of theSecondary the issance shares. A1thou stock to 1514 assessitiLe in into PrDnary conversion of the Secondary shares in 1916, after the 1514, was still weLl , outstandi ng Primsry Stock re 1941, the total no amendment or ani authorized earlier; below the 2,000 shares incorporation was considered necessary. |
