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<br />CHAPTER II <br /> <br />REPORT ON THE PROPERTY OF THE <br /> <br />FORT LYON CANAL COMPANY, <br />COLORADO, <br />Its Water Supply, Its Present Physical Condition. and <br />the <br /> <br />Betterments Needed to Complete Irrigation System. <br /> <br />STATEMENT OF CONDITIONS. <br /> <br />The Fort Lyon Canal Company is a corporation Q!"- <br />ganized by the landowf1ers of that portlon of the Arkan- <br />sas valley north of the Arkansas River in Southern Colo- <br />rado, whose iands are irrigated chiefly by an old canal <br />from the Arkansas River, ~ 13 miles in length. known as <br />the Fort Lyon Canal. supplemented by reservoirs fed <br />by more recently constructed canals conducting flood <br />waters of the river and tributaries to these reservoirs. It <br />is a mutual company, whose soie object is to conserve <br />and distribute the available \vater supply to the lands of <br />its stockholders, and is not conducted for speculation <br />or profit. In developing its extensive reservoir system <br />to insure against a shortage of water in dry years or in <br />any particular period of shortage that may arise in nor- <br />mal seasons, an indebtedness was incurred to the ex- <br />tent of 5371,800.00, of which 5121 ,800.00 is in the form <br />of bills payable. held by local banks, and 5250.000.00 <br />is in 5-1 '2% Gold bonds. <br />'=' <br /> <br />7 <br />