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<br />044'7 <br /> <br />PRESIDENT'S REPORT <br /> <br />The Stockholders of The Twin Lakes <br />Reservoir and Canal Company <br />and <br />The Stockholders of The Co'lorado <br />Canal Company <br /> <br />Gentlemen: <br /> <br />This is a joint report to the stockholders of The Twin Lakes Reservoir <br />and Canal Company and of The Colorado Canal Company covering the major <br />activities of these companies for the year 1974. <br /> <br />The State water year dates from November 1, through October 31; there- <br />fore, the quantities in this report correspond to these dates. <br /> <br />On November 1, 1973, Twin Lakes Reservoir contained 38,840 acre feet of <br />water which was considerably above the normal carry-over. The May 1st <br />snow surveys gave water contents of 98.8% of the 20 year average on'the <br />western slope and 124% of the 20 year average on the eastern slope. The <br />weather was very unusual on our watershed in the spring. We had an <br />excessive amount of wind which absorbed moisture from the snowpack and <br />continual temperature changes would cause thawing for a few days then <br />freezing up again. These factors reduced the amount of runoff consider- <br />ably making the amount of water collected in our system less than our <br />earlier estimates. The sUllllller precipitation was below normal reducing <br />our water supply even more. <br /> <br />Our 1974 annual production from the Independence Pass Transmountain <br />Diversion System was 43,500 acre feet compared to a 55,071 acre feet <br />production in 1973 from a 107.8% of average water content. The eastern <br />slope production on Lake Creek was 1,895 acre feet compared to a 12,816 <br />acre feet production in 1973 from a 138.7% of average water content. <br /> <br />The Transmountain Diversion System and Lake Creek productions totalled <br />45,395 acre feet. On this aJIlount we were charged a transit loss in Lake <br />Creek of 379 acre feet and an evaporation loss on Twin Lakes Reservoir of <br />707 acre feet leaving a net total to divert at the Twin Lakes headgate of <br />44,309 acre feet. This entitles the 49,589 shares of stock, pro rata, to <br />0.8935 acre foot of water per share. <br /> <br />We also suffered from the longest call on record of our water rights by <br />the Colorado River senior decrees. The call was made August 29th and <br />taken off November 7th. <br /> <br />The carry-over storage in Twin Lakes Reservoir as of October 31, 1974, <br />(end of water year) was 18,175 acre feet. <br /> <br />-3- <br /> <br />. <br />