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<br />nal to furnish water, and \vhen two-thirds of ail such <br />outstanding water rights should have oeen fully paid for <br />according to the terms of the several contracts entered <br />into, then the title of the said Car:al would pass to tre <br />owners or holders of SJch water rights, and a neV1 mu- <br />tual company would be formed, issuing its stock pro <br />rata to the owners of the water rights previously issued. <br /> <br />In February, 1892. Mr. George S. Redfie1d. a brother-in- <br />law of 1. C. Henry, purchased the equity in the cana! <br />then belonging to :he Bent County Bank ar-d others (or <br />whatever equity there 'llight have been, if any, remain- <br />ing in it over and above the claims of the outsta:1d!rg <br />water rights) for the sum of 522.677.00. notwithstand- <br />ing the fact that it had been so largely oversold. Redfie,d <br />thereupon formed a new Company called "the La Junta <br />and Lamar Canal Company" to whom he conveyed the <br />canal property by deed. Water rights were again of- <br />fered for sale, and although fe\v were sold outright, about <br />70 second-feet of water rights were disposed of by an <br />ingenious method devised by the Canal Company. <br />Parties holding dry lands uncer the canal were ap- <br />proached with a proposition from the Lamar Farm Com- <br />pany to purchase their lands. provided. however, that <br />the owner of the land wouid execute a deed of trust <br />thereon ircluding two water rights from the canal for <br />each quarter section of 'and before making the sale. by <br />this method water rights were disposed of through these <br />mortgages to the Eastern investor. Practically aH of these <br />mortgages defaulted on the first payment, tre demand <br />upon the Canal Company to furnish water becarre <br />largely in excess of the capacity of the canal, and dur- <br />ing 1892 many farmers lost their crops for lack of water. <br /> <br />1-+ <br />