The Ordway new era., 1913-06-27

Meredith Reservoir stock or its equivalent Lake Henry
then there will be issued and distributed pro
all the right holders the balance surplus stock
OF the Twin Lakes Reservoir Company. towt: 5000 shares
This will make the plan of water rights as follows:
RIVER RIGHTS.
700 rights, 30 each. $4,000
TWIN LAKES RESERVOIR
10000 shares, 5o56 of share the $1,000
LAKE MEREDITH.
$4,000 shares share to the $4,000
LAKE HENRY.
$4,000 shares share the acre. I2ooo. $1,000
(In the matter of detail in working out the above pro
visions proposed to increase the capital stock OF The
Twin Lakes Reservoir Company $1,000 shares to
eliminate for all time the question of fractional shares to the
and also in taking the canal change the
OF the Company that will be The Twin Lakes Reser-
voir and Canal Company
The plan above stated will eliminate all the conusion
dscord and contention incident the distribution of
under the system of unequal water rights be-
the water and each and every right
holder will be entitled Hereunder to his poporonate share
of the flowing in the canal his river and Twin
Lakes Reservoir rights, while uniformity will be main
tanned in the distribution of Lake Meredith Lake
Henry under their respective rights that is Lake
Meredith water will be distributed through the canal the
$4,000 uniformly, while under the present opera
ton Lake Henry will be turned into Lake Henry
and distributed by The Lake Henry Company.
Under the plan of reorganization The Twin Lakes Res
ervo Company will be the holding company and the pro
cedure will be as follows:
The Twin Lakes Land and Water Company will
convey The Twin Lakes Reservoir Company free and
clear of encumbrances of and
"
and franchises including its decreed porities
of appropriation of from the Arkansas (subjeet
however to the vested rights of all of rights
thereunder) also 1873 water rights in said canal being
water rights No. 7oI to 1885, both inclusive
b. The Twin Lakes Land and Water Company will
cause to be paid all existing bonded Indebtedness
stng deed of trust securing said bonded Indebtedness
that The Twin Lakes Reservoir together with all its
and priores the of water rights of way easements
and franchises shall be free and clear Of existing
branceS OF and nature whatsoever,
c. The Twin Lakes Land and Water Company will
also at its own cost and reconstruct of cement the
Lake Meredith outlet headgate and clean and reconstruct
the outlet canal from said Lake Meredith the river and
extend said outlet canal from the headgate into the
voir that water be drawn off from said reservoir
to the bottom of the headgae the lower contour line OF
said reservoir the to have carrying capacity
constructed of less than cubic feet of water
second of time when the reservoir is full high water line
The Twin Lakes Land and Water Company shall also pay
be paid released existing bonded ndeb
eness that Lake Meredith together with all its
and prortes to the OF water rights of easements
and franchises shall be free and clear of existing encum
brances of and every whatsoever and will
for any lands within the high line Of said
reservoir for which it may be holding only certificates
of purchase provided that the encumbrances of The Ma
tona Sugar Manufacturing Company may be left to ad
ustment in satisfactory way view of the provisions
contained in its deeds of trust securing its bonds and OF
the covenants of the Sugar Company to and keep
harmless the Lake Meredith Reservoir Company from loss
on account of such encumbrances.
In consideration whereof it is agreed:
a. That the water' right holders holding river
rights only shall purchase Twin Lakes Reservoir stock
the basis of onehalf share the the rights
held and at the prevailing and customary price therefor of
$4,000 per and the terms and form OF contract
provided and used by The Twin Lakes Land and Water
Company said purchase be made preliminary the
qurng of Lake Meredith rights.
b. That the right holders under that part the
canal which Lake Meredith rights attach
shall purchase from The Lake Meredith Reservoir Com
pany its entire issue of capital stock owt shares
at the price of $1,000 per share and take the Lake
Meredith Reservoir with all its rights and franchises the
purchase OF said stock to include Herewith as has hereto
lore been the custo) fourth share of Twin Lakes Res
ervoir Company stock with each share of Lake Meredith
Company stock purchased and in payment therefor The
Lake Meredith Reservoir Company shall issue to
be issued its bonds in the of $4,000 said bonds to