Day v. Buckeye Water Conservation & Drainage District

The Buckeye Irrigation Company, a corporation, is now and long has been the owner of an irrigation system, consisting of diversion works in the Gila River below the month of the Agua Pria and a canal system extending in a general westerly direction therefrom.

For many years some 16,000 acres of land have been irrigated from this canal. Under the articles of incorporation of the Company, each shareholder must own an acre of land for every share of stock he holds, and the stock is inseparably attached to the particular land served.

In the year 1922, a number of the stockholders desired to…