Twin Falls Land & Water Co. v. Twin Falls Canal Co.

(after stating the facts as above).

In order to clearly set out the issues, a preliminary inquiry into the public policy governing water rights in the state of Idaho and its effeet upon the two corporations involved and the shares which constitute the subject-matter of the contract must be made.

It is trite to observe that water is the lifeblood of the arid portion of the western states. So essential is it to existence that it is administered as a public trust. Constitutional and statutory provisions are set as wardens to guard the supply. Waste is criminal. On the other hand, beneficial use of…