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per share against the 95,000 shares outstanding for the <br />purpose of liquidating the receiver's debt, and to pro- <br />vide $55,000.00 for the development of the Horse Creek <br />supply. This was begun by the building of a canal 50 <br />feet wide on the bottom from a dam erected across <br />Horse Creek to divert the floods of that stream to the <br />Horse Creek Reservoir, the actual construction work <br />was done during the following autumn, expansion of the <br />system by reservoir construction which bids fair to make <br />the system one of the safest and most permanently <br />secure in the whole State of Colorado in the matter of <br />water supply. <br />About the year 1903 the Company instituted a proceed- <br />ing to determine their right to an additional appropria- <br />tion from the river of 171.2 second -feet, as of date Au- <br />gust 31St, 1893, in which they were successful. This <br />priority, added to the first and second priorities of 761.8 <br />second -feet, gives the Company a right to 933 second - <br />feet in all. <br />STORAGE CANAL AND RESERVOIRS. <br />On April 16th, 1906, a special meeting of stockholders <br />was called at which it was decided to take further steps <br />for the development of an increased supply of water to <br />meet the growing demand of the stockholders, and pro- <br />vide water in reservoirs ready at any moment to take <br />care of perishable crops during periods of temporary <br />drought. For this purpose they voted to issue <br />$250,000.00 in bonds to pay for the construction of a <br />20 <br />