Yellowstone Valley Co. v. Associated Mortgage Investors, Inc.

In 1919 the Yellowstone Yalley Company, a Montana corporation, referred to hereafter as the plaintiff, owned two tracts of land in Yellowstone county; also two certificates, one for sixteen shares and one for fifty shares, of the capital stock of the Big Ditch Company. For more than thirty years, and long before the incorporation of the Big Ditch Company, which was organized for the purpose of extending, enlarging and maintaining an irrigation ditch or canal formerly belonging to the Minnesota Land and Improvement Company, the two tracts were irrigated by water delivered from the canal to…