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<br />turn over the Canal according to the expressed condi- <br />tions in the \vater right contracts and deeds. The new <br />La Junta and Lamar Canal Company being now in pos- <br />session of the property. refused to issue the stock to <br />the holders of water rights, or to pay the indebtedness <br />against the property, VJhich amounted at this time to <br />about 840,000.00. Again the property was thrown into <br />the hands of a receiver, under the John Hess suit, as <br />the Court in the original suit had not closed the matter <br />because some of the receiver's certificates, to the <br />amount of 825,000.00, debtedness at the time that he <br />had given the order to turn over the property to the New <br />La Junta and Lamar Canal. The Court, therefore, re- <br />tained jurisdiction until this indebtedness was paid. <br /> <br />Another suit vvas instituted and carried to the Supreme <br />Court of the State, and as a result, under the order of <br />the Court. The Fort Lyon Canal Company, on July 9, <br />1897, was organized and incorporated by the water right <br />owners who heid their rights through deed or contract <br />from the Arkansas River Land, Reservoir and Canal <br />Company. To replace the new La Junta and Lamar Ca- <br />nal Company, the new Fort Lyon Canal Company, the <br />present corporation, was capitaiized for 8525,000.00, <br />with the capita! stock of 105,000 shares of the par value <br />of S5.00 each, and stock was issued to the \vater right <br />owners on the basis of 100 shares for each cubic foot <br />per second foot of \:vater that he ",vas entitled to under <br />his contract or deed. <br /> <br />The Fort Lyon Canal Company immediateiy came into <br />possession of the canal, and after it had gotten \vell upon <br />its feet many of the water right owners, realizing that <br /> <br />17 <br />