Annual reports

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Annual Report

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The North Poudre

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rrigation Company

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Year Ending December 31

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1931

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1931

The North Poudre

Irrigation Con1pany

Directors

V. H. AKIN ... ---···--····-···--·Fort Collins, Colorado M. J. FITZPATRICK ... Wellington, Colorado E. F. MUNROE ... Fort Collins, Colorado ALEX NELSON ... Fort Collins, Colorado A. J. PIATT ... ---···---~--Wellington, Colorado

O

fficers

E. F. MUNROE·-·-···-···President A. J. PIATT .... ·-···--···-···-···--·Vice President STELLA M. NEWELL ... _ ... Secretary

D

epositories

First National Bank ot Fort Collins First National Bank of Wel11ngton

REPORT OF THE PRESIDENT OF

THE NORTH POUDRE IRRIGATION COMPANY FOR THE YEAR 1931

Water Supply

The year 19 31 was the driest in 4 0 years, with two exceptions, viz: 1888 and 1893. Precipitation was 9.88 inches as against a nor-mal yearly total of 15 inches.

The snow reserve in the mountains in the spring was small,

the sub-soil moisture on the farms was very low, and the resulting

water shortage was disastrous for the crops under our system. The peak flow of the North Fork was on June lOth, with only

184 second feet passing Halligan Dam. At one period during the

hot summer, the flow of the North Fork disappeared entirely. There were no cloudbursts or floods of con equence, which contributed

to the low cost of maintenance for the year.

Snowfall was a little heavier on the water shed of the Michigan Ditch and we obtained 176 million feet, or 4040 acre feet, from that source. This was 9% per cent of our total supply. The peak flow of this ditch was 6 2 second feet on June 17th.

Delivery of water to stockholders began May 16th and was

com-pleted September 15th, during which time we delivered 113,500

cubic feet (2.61 acre feet) per share to 9988 shares of stoc:k. Every reservoir was drained to the bottom and fall storage was not per-mitted until November 21st, so that we have little reserve to carry into 1932.

Crops

Water shortage, hail, financial depression, low prices-a

com-bination that makes it a pleasure to say goodbye to 1931. The only

bright spot in the picture is thf\ courage with which our stockhold-ers tackled their problems as they came and made the best of a terrible situation.

Most stockholders had sufficient water to cover alfalfa and

grain crops once, and beets three times. Yield ot alfalfa hay was

poor and the quality unusually good. Yield of gr.ain crops was fair,

but the market price was far below the cost of production. Frosts

in late May cut the cherry crop about 50 per cent.

A heavy hail storm of varying intensity on August 1st covered a strip nearly two miles wide from Buckeye to Hinckley Lake and brought a decrease conservatively estimated of from two to four tons per acre in the sugar beet yield on nearly 50 0 0 acres.

Accurate figures as to acreage and yields of general crops under the North Poudre system are not available, but through the

cour-tesy of Mr. Ralph Partridge of the reat Western Sugar Company

we are again able to pres nt a study of sugar beet acreage and yields in North Poudre territory.

3

-Acreage and Average Yields Under North Poudre in 1931

Dump Buckeye ···-Dixon ... . Ripple ... . Waverly ... . Wellington ... . Barnett ... . Giddings ... . Glick ... . Black Hollow ···-··· Others ... . Harvested Acres 675.5 1,321.6 365.2 759.1 1,563.7 1,405.3 537.1 319.4 220.6 139.6 7,307.1 Tonnage 6,332.04 13,042.77 3,5 62.20 7,544.75 18,133.64 17,531.50 8,833.60 4,737.20 3,103.30 1,232.20 84,053.20 Av. Tons Per Acre 9.37 9.87 9.75 9.94 11.60 12.50 16.40 14.60 14.10 8.80 11.50

The average for the factory district was 12.98 tons per acre. About 41% of acreage was grown under the North Poudre ditch.

The highest yields at each dump and the names of the growers are below:

Dixon-Walter Ripple ... . Buckeye-E. F. Munroe ... . Ripple--Henry & E. M. Ripple ... . Waverly-E. R. & E. J. Kilburn ... . Wellington-A. F. Schreiner ... . Barnett-R. M. Schockley ... . Giddings-Victor Akin ···----··· Glick-Fred Coutts ... . Black Hollow-Fred Henkel

on S. W. Eldridge ···---··· Others-John Hoff & A. Miller ... . Conrad Braun ... . Henry P. Frederick ... . Acres 24.5 51.8 29.9 15.1 22.0 11.0 62.5 42.0 30.0 32.0 28.1 19.0

Tons Per Acre 16.52 14.49 14.80 15.10 17.22 19.90 20.01 17.02 16.85 12.4 16.51 21.64

t

-Work Accomplished

In the tu nne I at the head of the Main Canal 2 5 0 lin ar f et or concr te floor was laid at a cost of $2,000.00. The object of this

work is to cut down fri tion losse and de rease maintenance coots.

Twenty-one minor structure of concrete and steel were built,

and on 200 foot wooden flume was construct d on the Agn s Lak extension of the Michigan Ditch, where a landslide took out the n-tire right-of-way.

Other work included the repair and rock rip-rapping o! the

dam of Boxelder Re ervoir No. 1 and about three and one-half miles

of shovel work on the Main anal betw n Boxelder Creek and No. 3 Inlet gate·.

The creosoted pipe line Installed on the Michigan Ditch in 1930 gave excellent service and promi es to be a good solution to the

problem of s epage losse and maintenance costa on thL ditch.

Financial

The fourth payment, $20,500.00, was made on our bonds May

1, 1931. We also called Bonds No . 647, 64 , 649 and 650 of

1,00 .00 each and No . 651, 653, 654 and 655 of $500.00 each,

total of $6,000.00, due May 1: 1947. These bonds were retired

from the proceeds received from the sale of Portner Reservoir, as

required in the Trust Deed. 'l'his leaves a balance of $617,500.00

bonds outstanding. The urrent ind btedness of $42,500.00

re-mains unchanged.

- !i

-Water Appropriations

Appropriation per share of tock sin e 1912 has b en as follows:

YEAR CU. F1'. 1912 - ---·---·-····--- 13 5,00 0 1913 ···---··--·-···----· 12 5,000 1914 ... 150,000 1915 ... 135,000 1916 ... 100,000 1917 ... 137,500 191 ... 105,000 1919 ... 50,0 0 1920 ... 130,000 1921 ... 163,000 1922 . ... 80,000 1923 ... 1 ,000 1924 ... 200,000 1925 ... - 110,000 19 2 ... 202,000 1927 - ... 170,000 192 ... 200,000 1929 ... 1g3,0 0 1930 ... 135,000 1931 ... 113,500

Assessments Levied Against

each share

of Stock of The North

Poudre Irrigation Company from 1920

to

1931 Inclusive

1920 1921 1922 19~3 1!.121 192fi l92G 1927 192, 1929 1930 1931 Regular ... ... .. ... . 0 0 pecial ... 1.00 Re . No. 15 ... 2.00 Regular ... 7.00 ,P ial ... 1.00 Regular ... 5.!50 Special ... 1.00 R gular ... 5.50 pe ial ... 1.00 Regular ... .GO Spntal ... l.OIJ R< gular ... .00 ll,lligan Sped.! ... 4.0( gular ... . Regulur ... .. Regular ... .. R gular ... . egular ... .. Regular ... . 11.00 .00 6.50 .50 9.GO 12.00 5.00 8.00 8.50 .25 8.25 7.50

6 -Cash Statement

RECEIPTS Balance on hand January 1, 1931

---Assessments, 19 3 0

---$

Assessments, 19 31 ---Assessments, Old Right ---Assessments, Fossil Creek ---Accounts Receivable ----·---·----Commissary ---Ditches and Reservoirs ---·---Dividend, Oil and Gas ---·---Income, Miscellaneous ---·---Interest ---~ases ---·---····---~---···· Notes Receivable ---·---·----Notes Payable ... . Refunds ---···---·-···-·-···-··· Transfer Fees ... . Water Rental ---·--·---DISBURSEMENTS Bonds Payable --···----·---·---·---$ Commissary --·-···---··· Directors per diem ----·---·· Ditches & Reservoirs:

Construction ---····----$ 4, 53 0.8 5 Ditch Assmts. & Tollage 1, 734.69 Maintenance ... 8,071.46 Operation ... 3,663.02 Equipment ···--·-···---·---·---Income Tax ---···---··· Insurance ---·---··-··· Interest ... . Legal ... . Notes Payable ... . Office Expense ... . Refunds ... . Rent and Light ... . Salary ---···---··· Scurvin Ditch Stock ... . Taxes ... . Telephone and Telegraph ... . Unamortized Debt-Expense ... . December 31, 1931, Balance on Hand ... .

18,500.06 58,325.82 25.00 600.00 450.00 13.86 237.87 500.00 82.50 1,951.20 500.00 8 60.00 11,500.00 436.61 18.00 7, 701.32 20,500.00 371.42 378.70 18,000.02 1,139.77 2,306.69 221.18 31,404.34 3,9 3 5.63 11,500.00 1,001.58 575.00 349.10 4,910.00 482.25 371.19 375.88 109.15 $ 3,540.83 101,702.24 $105,243.07 $ 98,012.90 7,230.17 $106,243.07

7

-Balance Sheet Statement-December 31, 1931

ASSETS Current Assets: Cash ---$ Notes Receivable ... . Accounts Receivable ... . Assessments Receivable, 1931 ... . 7,230.17 4,183.80 2,880.99 16,670.60 Commissary Inventory ... . 568.52 $ 31,534.08 Fixed Assets:

Priorities & Water Rights ... $ 545,100.00 Ditches & Reservoirs ... 3,079,166.43 Stock Other Companies ... 4 0 0. 0 0 Buildings & Improvements ... 10,442.84

Equipment ... 5,468.10 3,640,577.37 Suspense:

Unamortized Debt Discount &

Expense ... .. 18,263.44 $3,690,3 7 4.8 9

LIABILITIES AND NET WORTH Current Liabilities: No~es Payable ... $ 42,500.00 Accounts Payable --- 8 2 7. 2 5 Interest Accrued --- 5,230.29 Taxes Accrued --- 400.00 $ 48,9 57.54 Fixed Liabilities:

First Mortgage Bonds ---Net Worth:

Oapital Stock ... $ Premium Capital Stock ... .. Capital Surplus ... . Surplus Assessments Capital Stock ..

Profit & Loss Deficit

---499,976.11 3,450.00 2,676,017.01 177,895.83 3,357,338.95 233,421.60 517,500.00 3,123,917.35 $3,690,374.89

RECAPITULATION OF EXPENDITURES FOR YEARS 1922 TO 1931 INCLUSIVE

Totnl 192'2 4. .00 1.215.42 156. 2, .93 44 .17 3,356.03 1, .01 5, 37,2 511.53 3,4ii9.66 150.00 4,626.9 736.7. 1,!?76.07 3"1.42 !?5.'). 123 4, .1< 1,101.65 144. 3, 73. 55.20 717.40 6,247.00 1,70 . 7 13,7 4.75 38.713.11 47 .75 9,<»6.19 2,739.37 1.1 7.44 3, 6.12 150.00 2, .72 169.19 1, 14.79 1924 5,7- .00 1.424.03 HH. 4,239.71 527.44 -.36 5,110.76 912.12 9,049.7 42. .00 522.50 4,

-.oo

16.001.16 937.71 5,637.16 400.00 1, .51 1 7.23 13, .00 1,-50.00 11, 7.10 42.232.10 45. 5,737.21 ,,507.97 9 -3 7.50 1,3 .92 16,2 .27 3,074.15 2,969.l)8 50.00 19:...6 5, 7.35 $ 1,7 2.7 2'.11.47 4,73 .... 52 459.21 400.05 . 7.40 2,076.20 1 .540.83 6,176.22 40,520.92 •>.75 7, 7.50 1,10 .9 1'>,961.91 40-'l.OO ,257.76 17,67a. 3 103.1 125.0 1927 5,437.00 1,59. 216.36 4,"'53.75 4 •l.05 931. 11,226. 2,229.65 13,191.40 ,045.52 41,175.17 3 1.00 4,ihl2.17 644.03 9 .17 1,551.00 !?2.340.50 500.00 1,524.45 7, 5.79 37,054.95 361.60 2,235. 495.36 6237.65 57 .59 14,975.1 1929 5, 4.65 2,, 27.75 248.84: 4,171.17 383.00 443.37 6, 3.38 1,630.76 2,135.67 7,172.96 33,242.45 470. 1 1, "'.85 552.06 1,4 "'.63 1 .05 !?2,000.00 2. 5., 5,015.04 4,640.79 31, 79.06 4 • 2,532.30 591.38 1,231.40 51. 23,000.00 1931 4,910.00 1,471.15 371.10 3,247.02 371. 37 .70 3.426.00 1,570.36 4,323.25 3 .510.11 .75 2,196. 2.0 .44 1,136.6.~ 1,251.94 24:4.3..'! 1,139.77 26,000.00 5, 7.52

The North Poudre Oil and Gas Royalty Units

Cash Statement

RECEIPTS Balance January 1, 1931 ... . Royalties ···-···--···--·--·---··· Lease ... . North Poudre Irrigation Co. Refund ... .

DISBURSEMENTS

$257.93 32.70 500.00

Secretary and Auditor ... $310.00 Advance North Poudre Irrigation Co. ... 500.00

Balance December 31, 19 31 ---···

To The Board of Directors of

The North Poudre Irrigation ornpany, Fort Collins, Colorado.

Gentlemen: $876.84 790.63 $1,667.47 810.00 $857.47

I hereby certify that the accompanying balance sheets and the related statements of Income and Disbursements are true exhibits of the accounts as set forth in the books, and in my opinion cor-rectly present the fJnancial position of the Company as of December 31, 1931.

KEEP ON

PLANTING

TREES IN

1932

"RINT D AT R081N80N'•• P'ORT COLLIN8

ANNUAL REPORT

The

North Poudre

Irrigation

Company

Directors

V. H. AKIN __________________ Fort Colllns, Colorado M. J. FITZPATRI K---Wellington, Colorado E. F. MUNROE ______________ Fort Collins, Colorado ALEX NELSON---·----Fort Collins, Colorado A. J. PIATT---Wellington, Colorado

Offi

cers

E. F. MUNROE---·---President

A. J. PIATT---Vice President STELLA M. NEWIELL-·---Secretary

Depos

itories

First National Bank of Fort Collin& Fir t National Bank of Wellington

REPORT OF THE PRESIDENT OF

THE NORTH POUDRE IRRIGATION COMPANY

FOR THE YEAR 1932

Water Supply

Procipitation measured at the Fort ollins Station during 1932 was 12.79 inches, which is 2.01l inches,,below normal. More serious still, the moisrture which we did r ceive throughout the year came in local storms with very unequal distribution, so that some parts· of our ter-ritory had practically no rainfaN of benefit to crops. The usual heavy, general storms of April, May and June did not come to our section and the resuLt wa disasrtrous to our water supply. The trend of precipi-tation and water supply has been downward for nine years since 1923, making this by far the longest drought period since the beginning of our record in 1887.

In ,the spring there was a good blanket of snow on the high mountain ranges, but the area covered with snow was too small to furnisrh an adequate supply of water for junior ditch systems. Senior ditches fared very nicely. For the first time within our recoro, Fossil Creek Reservoir failed to receive sufficient water to supply in full the 300 Preferred Water Rights therein.

The peak flow of 1the North Fork was about th middle of June, with approximately 250 s concl fe t flowing. The Michigan Ditch fur-nished 20·5 million feet (470 acre feet) or 20% of our total supp!y. The 'Peak flow of this ditch was 82 s cond feet on June 28th.

Stockholders received during the season 60,000 cubic f et (1.38 acre feet) of water per s'llare, the small st amount with one exception since 1912. As uming that one share of water was used on three acres, the amount of water delivered was 0.46 acre feet per acre.

Crops

Crop ylelds ranged from nearly zero in the north end of ·tbe system, which was the driest, to a•bout two-thirds of normal in bhe southern par,t of our territory, where local rains hel,ped materially.

:VerYl little water was used on al,falta or grain, most water 1\l'Sers having decided to use the available supply on sugar beets, Which seemed to be the most promising crop for casrh returns. Much labor and expense resulted from a wide-s•pread invasion of beet worms. It was neces ary to water ~the !beet from four to six times and even then they suffered enormously in tonnage loss in late S ptember and Octo-ber after the water supply was exhausted. Grain yields were very light, and the alfalfa crop consisted principally of a &mall first cut-ting-no second or third.

Market prices or all crop& were far below the cost of production. There follows a statement showing acreage and yield of sugar beets in 1932 under the North Poudre sys•tem., furnis'he<l by courtesy of The Great Western Sugar Company.

3

-ACREAGE, AVERAGE AND HIGHEST YIELDS, NORTH POUDRE SYSTEM-1932 OROP

Dump Buckeye Ripple Waverlty Dixon Wellington Barnett Giddiugg, l{lluver Glick Blk. Hollow Othem Totals and Av. Ton a per Acres Tonnage Acre

283.4 2904.54 10.25 147.2 845.44 5.74 423.1 3281.27 7.76 60·8.4 5092.70 8.37 933.9 8226.40' 8.81 844.0 8278.7(}1 9. 1 327.3 4064.21 12.41 55.7 646.65 11.61 106.4 1222.00< 11.48 121.1 1414.46 11.67 124.0 1374.97 11.0S 3974.5 37351.34 9.40 Fort Collins Factory District, 10. 73.

Highest Yields Grower Holtcam'P Ripple Brothers D. F. Parker Lee Kent A. Schreiner C. Robertson V. Akin F. Huskey F. Wells A. Brunner H. Hoff Acres 13.0 30.0 3.5 16.3 9.5 26.5 84.0 13.0 8.6 62.4 32.0· Tons per Acre 11.20 9.86 12.05 12.91 16.41 14.64 14.77 12.90 15.29 13.22 12.55

North Poudre growers furnished 37% of the acreage for the Fort Collins1 factory, and 32~% of the beets.

As· a reminder of past performance and an indication of the pres-ent agricU'ltural situation, the following statempres-ent is ·presented:

Year 1929

1930

1931 1932

ACREAGE, YIELDS AND VALUES OF BEET ROPS NORTH POUDRE SYSTEM

Acres 6,457 7,{)198 7,307 3,974 Tons per

Total Tons Acre 75,224 11.65 107,547 15.15 ' 84,053 11.50 37,351 9.40 Price per Ton $ 7.00 7.00 5.52 4.aG• Total Value Dollars $ 526,568.00 752,829.0 463,972.56 162,893.21

*

Average initial payment.

--4-WORK A

CC

OMPLISHED

Our budget this• year made no allmvance for major improvements, and work accompli hed1 was· that required for maintenance or

neces-sary structure replacement. T.he list includes twenty minor structures of ·concrete and steel; and apron, baffle wall and wings for Boxe1dl9r Creek Dam; one 8-foot Parshall measurin·g flume at Cameron Pass; two miles of shovel w-ork on the Main ditch; and threwourths mile heavy dragline work required for the complete drainage of Reser-voirs 2, 5 and 6 in lhe lMe summer.

In addition we carried on the required maintenance on the 24

reservoirs, one mile of tunne.Xs, six mHes of mountain dLtch, and 116 miles of other ditches of -our syg.tem.

Financial

By referring to our balance sheet, you will see that about one-half o:f the October 1, 1932, as·s·essmen-t has been paid, leaving a balance of $18,40 .19. This is an increase of only $1,729.59 over laBt year, as we haCL $16,670.60 of the 1931 as'Sessment outstanding, of

which all has been ·oollected .but $56.00. Ai the present time, we have 343 stockholders holding 9~99.52-2 j9 shareS~ of stock, and we feel this is a fairly good showing, considering the depression. The bonds were reduced by the payrment of $22,00{).0(1 on MSJy 1st, leaving a balance of $495,500.0 •bonds outstanding. The current indelbtedness remains th1~ same as last year.

E. F. MUNROE, President.

The North Poudre Oil

,

and G

as

Roy

a

lty Unit

s

C

as

h Statement

RECIDIPTS Balance Jan. 1, 1932 ---Royalties --- ______ --- $270.46 Lease --- 32.70 DI•SBURSEMEJNTS Secretary --- $ 25.00 $857.47 303.16 $1,160.63 DivideJa.d, No. 12-1

;s

of 1%--- 1,000.00 1,0,25.00 Balance Dec. 31, 1932 $ 135.63

5

-Water Appropriations and Assessments

"\V'~ter appropriation Assessment per share of stock per share 1912---135,000 cu. ft. _______

---$

5.00 1913 ________________________ 125,000 --- 6.00 1914---150,000• --- 7.00 1915 ________________________ 135,00~ --- 7.00 1916---100,000 --- 7.00 1917---137,500 --- 7.00 1918---105,000 --- 7.00 1919 ________________________ 50,000 --- 8.00 1.192() ________________________ 130,000 --- ll.Ol• 1921---163,000 --- 8.00 1922 ________________________ 80,0 0 --- 6.50 1923---18 ,000 --- 6.50 1924 ________________________ 20 ,000 --- 9.50 1925 __________________ :_ _____ 110,00 --- 12.00 1926---202,000 --- 5.00 1927---170,000 --- 8.00 1928---200,00 --- 8.50 1929 ________________________ 193,ooo --- 8.2o 1930---135,0·00 --- 8.25 1931---113,500 --- 7.50 1932--- 60,0()() --- 7.00

AVERAGES

1912-21 Inc., 1(} years---123,()5(} 1922-31 Inc., 10 years---159,150 1928-32 Inc., 5 years---140,30(} 1912-32 Inc., 21 years ________ l37,238

Cash Statement

RECEIPTS Balance on hand January 1, 1932

---As e"Ss.ments, 1931 Assessments, 1932 ---Assessments, 1933-Pre,paicl ---Assessments, F<>ss.il Creek ---Assessments, Old Right ---Inc<>me, Miscellaneous ---Interest

---Leases ---Notes Receivable ---Notes Payable ---011 a.nd Gas Dividend

---Refunds ---Tra.ns£er Fees ---Water Rent ---16,614.60 51,596.47 1.00 600.00 25.00 85.0{)1 1,333.18 50·5.00 1118.55 11,000.0{)1 936.61 154.45 33.5{)1 7.30 8.00 7.90 7.62 $ 7,230.17 7,784.58 90,787.94 $98,018.11

DISBURISEMEN'DS

Bonds PayS:ble

---$

Commissary ---Dirootors per diem ---Ditches and Reservoirs:

Construction ---$1,872.46

·Ditch Assmts. and

Tollage --- 527.85 Maintenance --- 8,421.4()1 Operation --- 3,443.22 Equipment ---Insurance ---Interest on Bonds ---Interest on Notes ---Internal Revenue Tax ---Legal ---Notes Payable Otfice Expense ---Retunds ---Rent and Light ---Salary:

President

---$

970.0Q

Secretary --- 1,126.00

Su,pt. --- 2,425.0'{)1

Auditor --- 65.0()1

Scurvin Ditch Stock ---Taxes, County ---Telephone ---Amortized Debt-Exrpense ---Water Purchased-St'()ckholders ---Water Purchased.---4Company --- __ _ 22,0{)0.00 839.79 418.2(} 14,264.93 336.08 392.45 26,591.28 2,723.1() 20·2.91 1,021.0() 1U,0{1().00 529.83 75.00 34().44 4,586.()0 211.50. 172.44 418.71 188.47 4,347.25 1,223.67 $91,883.05

Less Ccmmissary Credits --- 1,400.62

December 31, 1932, Balance on Hand

---$90,482.43 7,535.68 $98,0118.11

--'1-Balance Sheet Statement-December 31, 1932

ASS ErrS Current Assets 1Cash --- $7,535.68 4,065.25 3,371.92 &6.0()1 18,400.19 ~otes Eteceivruble ---Accounts Eteceivable ---Assessanents Eteceivruble--193'11 ---AssessmentS' EteceivaJMe-1932 ---•Commissary Inventory --- 371.06 $ 33,800.10 Fixed Assets:

Priorities and Water Etfghts --- $ 545,10 .00 Ditches and Eteservoirs --- 3,057,566.06 Stock Other Oom'Panies --- 4(}0.0()-Buildings and Improvements --- 9,698.59

Equipment --- 4,097.64 3,616,862.29 Suspense:

Unamortized Debt DiSicount & Expense 16,242.74 $3,666,9()5.13 LIABILITIES ~ NET WOEtTH

Current Liabilities: Accounts PayaJble--Scurvin ---Assessments Prepaid ---IntereSit Accrued-Bonds ---Interest .Aiccrued-·Notes ---Notes Pay81ble ---Taxes Accrued ---Fixed Lialbilities1: Mortgage Bonds Net WortJh: 1Ca;pital Stock (9999.52-2 j9 shs.) ---Premium Capital Stock ---IQapital Sunpl•UIS

---SuJ'!plus Assmts. C8/I>. Stock

---$ 615.75 1.00 4,337.29 600.47 42,50().00' 386.63 $ 48,441.14 499,976.11 3,450.0(} 2,676,017.0·1 20·9,894.30 $3,389,337.42 495,500.00

Profit and Loss Deficit --- 266,373.43 3,122,963.99 $3,666,9t)5.13

RECAPITULATION OF EXPENDITURES FOR YEARS 1923 TO 1932 INCLUSIVE

1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 Salaries . . . $ 4,848.58 $ 5,720.00 $ 5,420.00 $ 5.887.35 $ 5,437.90 $ 5,434.50 $ 5, 34.65 $ 5,445.05 4,910.00 $ 4,586.00 A tty~. fees. Ct. cost .... 1,191.65 1,424.03 4,767.77 1,782.78 1,598.80 3,604.07 2,527. 75 1, H.OO 1,471.15 1,021.00 Ta es ... 144.08 164.83 239.38 224.47 216.36 326.82 Z4 .84. 240.03 371.19 375.35 Canal Riders

_..

_···

3,876.93 4,239.71 3,891.~4 4,732.52 4,553.75 4,691.18 4,171.17 4,328.58 3,247.02 2,986.17 T lephone Acct ... 559.20 527.44 4 8.81 459.21 482.05 434.00 383.66 417.61 371.88 415.~1

Directors per diem ... 717.40 482.36 420.90 490.05 931.80 450.60 443.37 504.40 378.70 418.20 Maintenance

_..

_{····---···}

6,247.60 5,110.76 5,863.14 8,067.40 11,226.88 6,016.0f 6,803.38 5,568.63 3,426.90 3,851.24 Expen es ... 1,708.07 912.12 2,446.01 2,076.20 2,229.65 2.125.61 1,630.76 2,365.79 1,570.36 1,184.00 Michigan Ditch,

in-eluding· enlargement. 13,794.75 9,049. 78 11,787.10 Construction ... 18,540.83 13,191.40 1,524.45 2,135.67 5,015.04 17.18 Maintenance ... 6,176.22 8,045.52 7,095.79 7,172.96 4,640.79 4.323.25 3,282.28 Interest ... 38,713.11 42,899.56 42,232.10 40,525.92 41,175.17 37,054.95 33,242.45 31,879.06 30,510.11 29,314.38 Ditch As~essments ... 478.75 522.50 456.90 482.75 361.60 361.60 470.81 458.87 482.75 325.84 Permanent Imp. 9,046.19 4,825.50 5,737.21 7,487.51) 4,552.17 2,235.58 1,658.85 2,532.30 2,196.68 1,782.45 Canal Enlargement and Tunnel. ... 2,739.37 16,061.16 8,507.97 2,028.44 Mantenance on Equipment ... 1,187.44 937.71 982.05 1,108.98 644.03 495.36 552.06 591.38 1.136.63 1.184.10 Water Tollage ... 3,846.12 5,637.16 5,961.91 985.17 6,237.65 1,485.63 1,231.40 1,251.94 202.01 Water Ri ht and Real Estate ... 150.00 400.00 367.50 400.00 244.38 211.50 Equipment. ... 3.3 9.72 1,858.51 1,358.9.2 8,257.76 1,551.00 578.59 188.05 51.85 1,139.77 336.08 Indebtedness Reduced ... 16,259.27 17,675.93 22,340.50 14,975.18 22,600.00 23,000.00 26,500.00 22,000.00 Miscellaneous ... 169.19 187.23 3,074.16 103.10 500.00 5,587.52 1,223.67 Halligan Dam Enl'gt ... 1,814.79 2,969.58 Extension 1st-2nd Mtg. Bonds ... 13,865.00 Damages (S ttlement) .. 1,250.00 50.00 125.00 75.00 360.00 2,085.80 Bond Discount ... 16,785.00 10,215.00 Bond Expense ... 1,501.53 464.32 193.67 192.18 180.15 188.47 Totals ... $ 93,619.64 $116,075.36 $117,340.00 130,565.88 $138,385.28 $104,581.31 $ 93,829.43 $ 90,306.96 $ 91,328.82 $ 74,905.73

ANNUAL REPORT

The

North Poudre Irrigation

Company

Dir

ec

tor

s

V. H . .Akin ___________________ Fort Collins, Colorado J. S. Elder---Wellington, ·Colorado M. J. Fitzpatrick ______________ Wellington, Colorado E. F. Munroe ________________ Fort Collins, Colorado .Alex NelsQn _________________ Fort Collins, Colorado

Officer

s

E. F. ndunroe ____________________________ President M. J. Fitzpatrick---Vice President Stella M. NewelL---· _______ secretary

REPORT OF THE

PRESIDENT

OF

THE

NORTH

POUDRE IRRIGATION COMPANY

FOR THE YEAR 1933

Water Supply:

The .first four months of tJhe yea,r were dry, windy and cold, and mo.st discouTaging in outlook for water supply a,nd c11ope. A heavy storm early dn May changed conditions completely and covered the mountains with a four-foot blam.lret of snow which furnli.shed a fair water supply for the tbree c}lry months that f<>llow•ed. About six and one-half inches of :rain fell in late August and September with many floods :ftrom cloudbursts, eo that aft91f a. very bad beginning the year wound up with ample water available for late crops and some carried over for another seasl()lll-a conditd·on which has not occUII'II'ed for four Y'ears.

The NOII'th Fork of the Poudre River, which is our principal source of ~supply, carrted a pea;k now ·Of 500 !Second feet and we Wlerte able to divert water for eighteen da.ys OtD. the Company's' main decree of 300

second teet. The balance of our water was obtained from the older decooes, storage and flood wate~rs, and the Michigan Ditch. The Mich-igan Ditch furni·shed 210 million cubic feet (4800 a,orefeet), with a peak fl<>w of 87 second fieet on Jun·e 21st.

The amount of wateT apportdoned lio stocltholden was 125,000 cubic feet (2.87 acre-feet) per share of stock. Where one shar·e of water was used oo three acres <>f crop, which Is the usual ratio, this is equivalent to {).96 aCTe-feet per ac·re. Water fo·r irrigati<m was de~ livered to ·Stockholders on demand fvom May 28th lie September 23rd \'Yith no serious shut-downs.

Crops:

Few farmers were able t'O plow their fields or seed their C!l'OPS

early, or until after May 15th, om account of the tel'll"lbly drry condition of the soil and sub-soil, and yields were cut down materially on that account. Grain and sug.rur beet yields were fair, alfalfa poor, and corn

and. forage crops very good, due to a long, hot, growing season. Ae~~eage d·evoted to suga.r beets inCll'eased nine per cent to 4344 acres with an average ydeld per acre <>f eleven tons. This yield is loos than the average yrield for the F1ooi Collins factory district, but the sugwr content .was coniSide,rably higheT in North Poudre territory, as will be noted m the 1\ollowing rreport.

Due to fav<>rable weather conditions, the beet crop was harvestecl .Ln an extremely short time, so that many farmers have had opportun-ity to do tall plowing. About 2600 acl'lel!3 have been plowed for 1934 crops, compared with only 300 acres the preceding y€ar.

Through the courtesy <>f The Great W stem Sug&r Company, we are able to present the follo'Wing facts relating to the 1933 sugar beet crop.

3

-kOREAGE, TONNAGE, SUGAR CONTENT, AVERAGE AND HIGHEST YIELDS

NORTH PO'UDRE SYSTEM, 1933 Sugar Beet Crop.

Average Tons Highest Yields Ton&

Sugar per per

Dump Acres Tonnage Content Acre Grower Acre& Acre Buckeye 40·2.6 4058.03 17.2% 10.08 F. Ackerman 95.8 12.54 F. Wildman 10.5 13.37 Ripple 204.1 1737.38 17.7 8.51 F. Klrumdick 61.0' 14.59 Waverly 451.7 4551.93 17.2 10.08 F. Krumdick 10'.0 20.94 Dixon 659.5 7174.92 17.2 10.88

c.

Braua1 20.9 16.67 Wellington 919.5 1(}120.72 16.5 11.01 F. Scha·edner 12.0 17.70 Barn tt 939.0 10373 19 16.2 111.04 E. S. Thomas 10.0 16.89 GiddingiS 331.4 4432.62 15.8 13.37 H. Heckman 18.7 18.20 WIQods 3.5 42.00 15.6 12.00 C. Mobley 3.5 12.00 Kluver 37.1 512.04 16.1 13.81 R. G<reen 12.1 14.54 Glick 141.8 1794.12 15.5 12.66 Alex Nelson 20.9 17.60

Black

Hollow 132.8 1700.63 15.9 12.80 F. Henkel 21.8 14.07

mac tory 1121.3 1414.19 15.4 11.65 F. Wertz 14.0 14.17

Totals

and Av. 4344.3 47911.77 16.5 11.03

Fort Conins Fact'()ll'y Di: trict produced slightly less thoo 12 to·ns per acre, with an ave,rage sugar content a little less than ·16 per cent. North Poudl'le g.roweii'IS furnished 34.2% of the acreage for the Foll't Collins fact()ll'y, 31.5% of the tonnage and 32.7% of the sugar.

ACREAGE AND YIELDS OF BIDIDT CROPS NORTH POUDRE SYSTEM-YEA.RIS 1929-1933

Year Acres Total Ton& Tons per Acre

1929 6,457 75,224 11.65

1930 7,098 107,547 15.15

1931 7,307 84,053 11.50

1932 3,974 37,351 9.40

4

-Work

Acco

m

p

l

is

h

ed:

Revenues of the Company were not sufficient to allow any Import. ant improvement or betterment work to be done, and the only con-struction work was that made necessary by the unusual number of destructive windstorms and late-summer floods. Many farms adjacent to Boxelder and Coal Creeks were partially submerged by flood waters in July and again In August, being the largest floods since 1904, and there was heavy damage to Company ditches and structures which will require considerable expenditure for complete repair-about $1500.00 having been spent to date.

At Cameron Pass (Joe Wright) Reservoir, which Is an earth em-bankment tl!ty feet high, a large portion of the wooden outlet tube collapsed when the reservoir was being emptied, shutting oft the out-flow entirely. About 6000 yards of earth from the dam was washed away. Repair was made by Installation of concrete pipe and a high-pressure hydraulic-lift gate placed In a screened chamber at the upper end of the outlet tube to relieve the tube from reservoir pressure. On account of the high altitude and short working season, It was necessary to rush the job and rent large equipment to Insure completion within the time available. The cost of the work was about $3800.00, which was not an-ticipated in the budget.

A 1400-foot extension of Michigan Ditch was located and the right-ot-way cleared of timber.

A concrete siphon was built under Coal Creek, replacing a structure destroyed by floods.

Maintenance work on ditches was very heavy due to wind-drifted sand and the action of flood waters.

Fin

a

n

cia

l:

Late in 1932 and early In 1933 It became increasingly apparent to the Board of Directors that the Company would be unable to continue the payments on the principal and interest of its bonded indebtedness under the amortization mortgage executed May 1, 1927. Since the date of the mortgage the Company has made all principal and interest pay-ments promptly and succeeded in paying ofl $104.500.00 of Its indebted-ness, 16aving a balance of $495,500.00 still outstanding. This is an ex-cellent record as compared wtth the financial operations of the Company tor a considerable number of years previous.

Had not drouth conditions, low prices and depression occurred sim-ultaneously, lt would have been possible for the Company to have con-tinued tts payments. The Board felt, however, that a five year mora-torium on principal payments would be essential for the benefit of both bondholders and stockholders.

Financial experts In Denver were consulted and the Company was advised that it would cost about $10,000.00 to extend the bonds for a period of tlve years. Consent of the owners of 75 per cent of the out-standing bonds was neceesary and a maze of legal obstacles had to be overcome.

The Board felt that this was too high a price to pay and that 1f such a sum was available, It should be paid to the bondholders or saved tor the benefit of the stockholders. Accordingly the Board set about to extend the bond issue without outside help. This was accomplished in the short space of two months from the time the tlrst notice went out to bondholders and up to the present time, not only the required 75 per cent, but all bonds with the exception of about $15,000.00 have been properly extended and at a cost of approximately $2,000.00.

Splendid cooperation was shown on the part of the bondholders, but it was a task of considerable proportion to contact them all and secure the signatures to the necessary documents.

The Board feels that in these times of emergency, this extension is an outstanding achievement for the welfare of the Company du.rlng

1933, and with this extension and an improvement of general conditions, the Company will remain upon a sound financial footing.

5

-Water Appropriations and Assessments

Year Water appropriation Assessment

cu. ft. per share o! stock per share

1912 ________________________ 135,000---$ 5.00 1913 ________________________ 125,000--- 6.00 1~14 ________________________ 150,000--- 7.00 1915 ________________________ 135,000--- 7.00 1916 ________________________ 100,000--- 7.00 1917 ________________________ 137,500--- 7.00 1918 ________________________ 105,000---··--- 7.00 1919---_{V920 ________________________ 130,00o.} 50,000---_{___________________________ 11.00} 8.00 1921 ________________________ 163~0 --- ~00 1922--- 80,000____________________________ 6.50 1923 ________________________ 188,000____________________________ 6.50 1924 ________________________ 200,000--- 9.50 1925 ________________________ 110,000--- 12.00 19126·--- ---202,000 ---··- --- 6.00 1927 ________________________ 170,00~--- 8.00 1928 ____ -- --- _200,000· --- 8.50 1929 ________________________ 193,0 0--- 8.25 1930 ________________________ 135,000--- 8.25 1931 ________________________ 113,500--- 7.50 1932 ________________________ 60,000--- 7.00 1933 ________________________ 125,000--- 4.50 AVElRlAGES 1919-1923, lnc., 5 yea.rs ______ 122,200 --- 8.00 1924-1928, llnc., 5 year ---176,400 --- 8.60 1929-1933, Lnc., 5 Ye&"S---142,600 --- 7.10

The North Poudre Oil and Gas Royalty Units

Cash

Statement

Balance Jan. 1, ·19·33 --- $ 135.63 Royalties

---$

96.9&

Lease --- 32.70 129.60

$ 265.23 Less 2c check Tax for 1932 --- .0·2 Dec. 31, 1933 Balance --- $ 265.21 ($165.0'9 is Restricted Bala.nce in First National Book, ~art Collins.)

6

-Cash Statement

RE EIPTS Balance on band January 1, 1933 . . . .

Assessments, 1931 . . . ... $ 56.00

As essments, 1932 . . . 18,153.69

As essments, 1933 . . . . . . . 29,000.72

Assessments, Fossil Creek . . . 600.00

Assessments, ld Right . . . 25.00

A counts Receivable . . . 11.76

Commissary . . . 10.20

Equipment . . . 356.00

Interest . . . 1,243.69

Leases and Pasture Rent. . . :!45.00

Notes Payable . . . . . . 7,500.00

Refunds . . . 579.96

Transfer Fees . . . 31.50

Water R nt . . . . . . 1,524. 5

DISBURSEMENTS Amortization Exp nse ... $

Assessments R funded ... . Bond Extension Expense ... . Commissary ... . 'heck Tax ... . Damages ... . Directors per diem ... . Ditches and Res rvoirs

onstruction ... $ 144.90

Maintenance ... 3,572.98

Maintenance on Equipment . . . 902.98

Michigan itch ... 3,009.59

Joe Wright R pairs ... 3,832.85

Operation ... 2,978.30 Ditch Assessments . . . 325.25 Tollage . . . 1,647.54 Equipment ... . Int r st on BondR ... . Intere t on NotE's ... . Inter t R fund d on Ass ssm nts ... . Insurance ... .

L gal ... . Lease 36-9-69 . . . .

• •otes Payable ... . Office Expense ... . Rent and Light ... . Salary ... . Scurvin Ditch Stock ... . Taxes, County and Int rna1

n

venu ... . Telephone ... . 165.04 682.75 2,076.53 922.81 12.68 ] 00.00 365.85 16,414.39 341.25 26,013.75 2,688.35 .52 282.91 1,158.84 95.75 5,100.00 416.42 318.85 4,125.00 102.50 525.90 H95.19 $62,305.28 Less Credits . . . 1,429.21

December 31, 1933 Balance on hand

$ 7,535.68 59,437.36 $ 66,973.04 60,876.07 6,096.97 $66,973.04

7

-Balance Sheet Statement

-

De

ce

mbe

r 31, 1933

ASSETS Current& Cash ... ., .... $ Assessments R ceivable, 1932 ... . Assessments Receivable, 1933 ... . Commissary Inventory ... . Lease 36-9-69 ... . FJ eda 346.30 246.50 16,678.91 468.76 96.76

Priorities and Water Rights ... $ 546,100.00 itches and Reservoirs ... 3,034,310.96 Stock Other Companies . . . 400.00 Buildings and Improv menta . . . 8,954.34

$17,836.21

Equipment . . . . . . 3,267.30 3,592,022.60 u 1•en11ea

Unamorltzed Debt Discount and Expense... 14,318.97

88 t11 of Doubtful Value:

Notes Receivable . . . . ... $ Interest Accrued-Oil & Gas Notes ... .

J. W. Nichols Contract ... . 1st National Bank- Fort Collins, Conservator. First National Bank-W llington, Closed ...

4,016.25 2,413.97 1,433.86 3,541.43 2,209.24

LIABILITIES AND NET WORTH

Current:

Not s Payahle ... $ 44,POO.OO

513.25 4,335.63 634.84 436.72 ccounts Payable-Scurvin ... .

Interest Accrued Bonds ... . Int r st Accru d Not s Payable ... . Taxes Accrued ... .

Fl eds

First Mol'tgage Bonds ... .

Net Worth&

Capital Stock (9999.62 2-9 shs.) ... $ 499,976.11 Premium Capital Stock . . . 3,450.00 Capital Surplus ... 2,676,017.01 Surplus Assessments Capital Stock . . . 212,494.18 $3,391,937.30

13,613.74 $3,637,791.52

$50,820.44

495,500.00

Profit a,nd Loss Deficit . . . . 300,466.22 3,091,471.08 To the Board of Directors of

The North Poudr Irrigation f'ompany Fort Collins, Colorado.

Gentlemen:

$3,637,791.62

I hereby certify that the accompanying balance sheets and the related statements of Income and DlsburHement are true exhibits of th accounts as set forth In the books, and In my opinion correctly pr sent the tlancial position of the Company as of ecember 31, 1933.

RECAPITULATION OF EXPENDITURES FOR YEARS 1924 TO 1933 INCL

U

SIVE

1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 !aries ... $ 5, 720.00 $ 5,420.00 $ 5,8 7.35 $ 5,437.90 $ 5,434.50 5. 34.65 $ 5,445.05 $ 4,910.00 $ 4,5 6.00 $ 4,125.00 Attys. fees Ct. co t. .... 1,424.03 4,767.77 1,78 .... 78 1,598. 0 3,504.07 2,527.75 1, 44.00 1,471.15 1,021.00 1,168.84 Taxes ... 164.83 239.38 224.47 216.36 326.82 248.84 240.03 371.19 375.35 301.72 anal Riders ... 4,239.71 3,891.24 4,73~.52 4,553. 75 4,691.H 4,171.17 4,328.58 3,247.02 2,986.17 2,978.30 Telephone Acct ... 527.44 48 .81 459.21 482.05 434.00 383.56 417.61 371.88 415.81 388.94

Directors per diem ... 4 2.36 420.90 490.05 931.80 450.60 443.37 504.40 378.70 418.20 365.85

Maintenance ... 5,110.76 5 863.14 8,067.40 11,226.88 6,016.06 6, 03.38 5,568.63 3,426.90 3,851.24 3,554.91

Expenses ... 912.12 2,446.01 2,076.20 2,229.65 2,125.61 1,630.76 2,365. 79 1,570.36 1,1 4.00 1,081.83

Michigan Ditch,

in-eluding enlargement. 9,049.78 11,787.10

Construction ...• 18,540.83 13,191.40 1,524.45 2,135.67 6,015.04 17.18

Maintenance ... 6,1 6.22 8,045.52 7,095.79 7,172.96 4,640.79 4,323.25 3,282.28 3,009.59

Interest ... 42,899.56 42,232.10 40,525.92 41,175.17 37,054.95 33,242.45 31,879.06 30,510.11 29,314.38 28,702.10

Ditch Asse sments ... 522.50 456.90 4 2.75 361.60 361.60 470.81 458.87 482.75 325.84 326.25

Permanent Imp ... 4, 25.50 6,737.21 7,487.50 4,552.17 2,235.58 1,658.85 2,532.30 2 196.68 1,782.45 144.90 Canal Enlargement and Tunnel. ... 16,061.16 8,507.97 2,028.44 Maintenance on Equipment. ... 937.71 982.05 1,108.98 644.03 495.36 552.06 591.38 1,136.63 1,184.10 902.10 Water Tollage ... 6,637.16 5,961.91 985.17 6,237.66 1,4 5.63 1,231.40 1,251.94 202.01 1,647.54

Water Right and

Real Estate ... 400.00 367.50 400.00 244.38 211.50 198.25

Equipm nt ... 1,858.51 1,358.92 8,257. 76 1,551.00 578.59 188.05 51.85 1,139.77 336.08 341.2~ Indebtedness

Reduced ... 16,259.27 17,675.93 22,340.50 14,975.18 22,600.00 23,000.00 26,500.00 22,000.00

Miscellaneou

...

187.23 3,074.15 103.10 500.00 5,587.52 1,223.67

Joe Wright Repairs .... 3,832.85

Halligan Dam Enl'gt ... 2,969.58 Extension of Bonds .... 13,865.00 2,076.53 Damages (Settlement) .. 1,250.00 50.00 125.00 75.00 360.00 2,085.80 100.00 Bond Discount ... 16,785.00 10,215.00 Bond Expen e ... 1,501.53 464.32 193.67 192.18 180.15 188.47 165.04 Totals ... $116,075.36 117,340.00 $130,565.88 104.581.31 $ 93,829.43 $ 90,306.96 $ 91,328.82 $ 71,905.73 $ 55,400.79

ANNUAL REPORT

The

North Poudre Irrigation

Company

Director

s

V. H. Akln __________________ Fort Collins, Colorado J. S. Elder---Wellington, Colorado M. J. Fitzpatrick---Wellington, Colorado E. F. Munroe ________________ Fort Collins, Colorado Alex Nelson _________________ Fort Collins, Colorado

Officers

E. F. Munroe---President M. J. Fitzpatrick---Vice President Stella M. Newen _________________________ secretary

2

-REPORT OF THE PRESIDENT OF

THE NORTH POUDRE IRRIGATION

COMPANY

FOR THE YEAR 1934

Water Supply:

The water shortage which ·has existed since 1929 was more severe than ever in 1934. The winter pr~ceding was mild, with little snow either in the mountains or on the farms, and the general storms which sometimes save the situation in April or May did not come. Many old ditches with rights much older than ours had severe water shortages

and poor crops. We were without doubt within the boundaries of the drought area in 1934.

The North Fork of the Poudre from which most of our water i'S obtained reached a peak of only 130 feet, the flow diminishing rapidly in June and July and reaching a low of les·s than five feet in early

Aue:ust. The Sand Creek Diversion to the Eaton Reservoir above Halllgan was also about one-fourth of normal, which was particularly damaging because this le the main source of supply for users under Halligan, No. 15 and Clark's Lake late in the season. This shortage

atrected about two-thirds of the system.

The Michigan Ditch which has heretofore been very dependable had less than half the usual snow and for the first time in its history wae shut down by the Water Cornmis· toner in order to supply water for prior appropriators in North Park, so thM: we were able to divert only 43 million feet or about one-fifth of the usual amount. Diversions by Michigan Ditch have been as follows:

1925 ---341 million cu. ft. 1926 ---310 million cu. ft. 1927 ---220 million cu. ft. 1928 ---190 mlllfon cu. ft. 1929 ---245 m1llion cu. ft. 1930 ---156 million cu. ft. 1931 ---1_{176 million cu. ft.} 1932 ---205 mfllfon cu. ft. 1933 ---210 m11lion cu. ft. 1934 --- 43 million cu. ft. We had ample exchange water to cover the flow of the North Fork in spite of the failure of the Michigan D1tch, and we got all the water there was above our system, but there was an insufficient amount to save the crops.

By late May the Board realized the erfousnese or the water

short-age and warned water users that only an extremely wet season would

save the situation. The first dividend of 60,000 cubic feet per share had been declared early in May and the Board was loath to revise lt while there was the slightest chance to make complete delivery, but from that time on each water user under the higher portions of the system received his proportionate s·hare, less some unavoidable losses in transmission. The final amount delivered in the higher portions

ot the system was a little over 93 per cent of the declared dividend, but we had enough water in 'Storage lower down on the system to have

3

-delivered about 10,000 cu. ft. more per share it it could have been transferred to the upper end of the system. This wat~ 'the water that was rented.

Every reservoir the Dompany has was drained in 1934 excepting FOflsil Creek, and the carry-over into 1935 is almost nothing. However, the situati<m is not hopeless as reports of ·snowfall at this time are encouraging and a short period of above normal precipitation could ea.sily change the outlook. Total precipitation for 1934 was about 8

inches and the temperature surplus was 1750 degrees.

Crops:

There was sufficient 'Surface moisture in the s·pring to allow early field preparation for 'Crops and germination was fairly good, but sub-soil conditions were never right due to the long continued drought. To have carried all crops to a full harvest would have required three to four times the water that was available and about twice the usual number of irrigations. As sufficient water was not to be ha.d, everyone was forced to abandon such portions of his crops as he considered least promising.

In general, about half the water available was used on cereals and alfalfa with fair results and the balance on sugar beets which made an average yield 1n North Poudre territory of 8.8 tons per acre with an unusually high sugar content.

Better prices for livestock, hay and grain have been of great as-sistance and give us hope that the future may hold something better than has been our lot for the past five years.

Throught the courtesy of The Great Western Sugar Company we present the following facts relating to the 1934 sugar beet crop raised on lands under the North Poudre system:

ACREAGE, TONNAGE, SUGAR CONTENT, AVERAGE AND HIGHEST YIELDS

NORTH POUDRE SYSTEM, 1934 SUGAR BEET CROP.

Average Tons Tons

Sugar per per

Dump Acres Tonnage Content Acre Grower Acres Acre

Buckeye 387.2 3635.75 19.4% 9.39 E. Ackerman 49.8 14.26

Ripple 70.8 494.05 19.6 6.98 F. Krumdick 57.5 7.52

Waverly 517.7 3254.87 '1·9.4 6.29 Kilburn & Son 8.1 :L3.80

Dixon 626.8 4882.59 18.9 7.79 Bert Hankins 21.6 12.39

Wellington 920.0 8427.62 18.6 9.16 J. Schreiner 16.0 21.50

arnett 933.1 9693.29 18.8 10.39 Znamenacek 10.2 19.45

Giddings 227.5 2296.67 18.3 10.10 Chris Meyer 26.7 12.60 Kluver 210.8 1i)91.94 18.3 9.45 Fred Coutts 30.4 14.45

Blwck Hollow 110.5 640.46 18.5 5.79 Alex Brunner 66.4 5.98

Factory 35.0 235.44 19.2 6.73 Jake Uhrich 35.0 6.73 4039.4 35&52.e8 8.80

4

-North Poudre Growers furnished 34.9% of the Acreage for the Fort Collins Factory and 31.7% of the Tonnage.

ACREAGID AND YIELDS OF BEET CROPS NORTH POUDRE

SYSTEM-.YEARS 1929-1934

Year Acres Total Tons Tons per Acre

1929 6,457 75,224 11.65 1930 7,098 107,547 15.15 1931 7,307 84,053 11.50 1932 3,974 37,3&1 9.40 1933 4,344 47,912 11.03 1934 4,039 35,553 8.80

Work Accomplished:

Practically everything done this y ar outside of routine mainten-ance waet flood repair and control work carried over from the bad floods of 1933. No new projects were undertaken.

At the Boxelder crossing of the Main Canal we installed two large radial gates, the largest in Northern Colorado, also constructed a long overflow spillway, all to assist in handling flood water. Three and one-half miles of shovel work were completed and about five hundred !Cubic yard•s of concrete and rock construction were placed in flood control and headworks. All work was handled with Company equip-ment.

Financial:

Our :financial 1c.ondftion is fairly satisfactory considering the

scarcity of water and poor crops. All the 1933 Assessments have been paid with the exception of one-half share. More than half of the last installment for 1934 has been paid. In many cases this was due to the re-financing

ot

individual loans.

5

-Water Appropriations and

Assessments

Year Water appropriaUon Assessment

cu. ft. per share of stock per share

1912 ________________________ 135,000 ____________________________ $ 5.00 1913 ________________________ 125,000--- 6.00 1914 ________________________ 150,000____________________________ 7.00 1915 ________________________ 135,000--- 7.00 191& ________________________ 100,000____________________________ 7.00 1917 ________________________ 137,500--- 7.00 ~918 ________________________ 105,000 ____________________________ 7.00 1919--- 50,000--- 8.00 1920 ________________________ 130,000 ____________________________ 11.00 1921 ________________________ 163,000--- 8.00 1922 ________________________ 80,000--- 6.50 1923 ________________________ 188,000--- 6.50 1924 ________________________ 200,000--- 9.50 1925 ________________________ 110,000--- 12.00 1926 ________________________ 202,000--- 5.00 1927 ________________________ 170,000--- 8.00 1928 ________________________ 200,000--- 8.50 1929---~193,000____________________________ 8.25 1930 ________________________ 135,000--- 8.25 1931 ________________________ 113,500--- 7.50 1932 ________________________ 60,000--- 7.00 1933 ________________________ 125,000--- 4.50 1934--- 60,000--- 5.00 AVERAGES 1919-1923, Inc., 5 years ______ 122,200--- 8.00 1J924-1928, Inc., 5 years ______ l76,400--- 8.60 1929-1933, Inc., 5 years ______ l42,600--- 7.10 1930-1934, Inc., 5 years ______ 98,700--- 6.45

The North Poudre Oil and Gas Royalty Units

Cash

Statement

Receipts--Balance, January 1, 1934 ---$265.21 Royalties, 1934 --- 122.15 Lease, 1934 --- 32.70 Disbursements-Check Tax --- .02

Balance--First National Bank of Fort

Col-lins-Closed --- 49.53 Balance--First Natl. Bank in Fort Collins $5.25

alance-Certificate of deposit --- 372.84

378.09

Less outstanding checks --- 7.58 370.51

$ 420.06

- 6

-Cash Statement

RECEIPTS

Balance on hand, January 1, 1934 . . . .

Accounts Receivable ... $

Assessments, 1934 . . . .

A sessments, 1933 . . . .

Assessments, 1932 . . . •

A sessments, Fossil Creek ... . As essments, ld Right ... . Inter st ... . Lease 36-9-69 . . . .

Leas s-Hunting and Fishing ... . otes Payable ... . Notes Rec ivable ... . R funds ... . Transfer F es ... . Water Rent ... .

DISBURSEMENTS

Amortization Exp nse ... $

Com m lssary ... . he k Tax ... . lr ctors per diem ... . Ditches and R s rvoirs:

onstruction ... $ Maintenance ... . Maintenance on equipment ... . peratfon ... . Ditch Assessments ... . Tollage ... . Joe Wright Repairs ... . Michigan itch ... . Box Eld r Wasteway ... .

88.44 4,676.94 1,276.60 2,688.02 337.76 1,784.00 17.46 1,750.;)1 1,834.99 Equipment ... . Gen raJ ffice Exp nse ... . Insurance ... . Interest on notes ... . Interest on Bonds ... . Lease 36-9-69 . . . • . . . • . . . L gal ... . Not s Payable ... . Rent and Light ... . Salary ... . S urvin Ditch ... . Tax s, County and Internal R venue ... .

Telephone ... . Water Users Ass ssment ... .

D c mber 31, 1934, Balance on hand: Cash

First Nati'o'riai

'J38.i-tk'

-~i

':Fort.

c~iit'n's',' ~ios

'<i.::

First National Bank or W lllngton, clo d ....

104.22 38,225.19 16,676.66 246.50 600.00 25.00 1,059.42 100.00 250.00 8,000.00 75.00 225.56 35.00 5,948.12 165.03 72.21 10.18 271.15 14,454.71 40.00 46ti.!l9 278.71 2,760.00 26,013.75 164.30 1,242.:i0 10,400.00 316.53 4,125.00 30.50 436.72 422.5!.1 274.00 13,061.74 1,062.13 1,598.80 $ 6,096.97 71,570.67 $77,667.64 61,944.67 15,722.9'1 $77,667.64

- 7

-Balance Sheet Statement, December 31, 1934

ASSETS

urrent1

Cash ... $ 13,061.74

Ass ssments Receivable, 1933 . . . . . . . 2.25

A s ssments R c ivable, 1934 • . . . . . . . . . 11,772.42

Commissary . . . 582.71 $25,419.12

Fl eda

Priorities and Water Rights ... $ 545,100.00

itches, R servolrs, etc. . . . 3,021,833.45

Stock th r Companies . . . 400.00 3,567,333.45

u Jlen e1

Unamortlz d D bt Discount and Expens 12,396.20

••et of Doubtful olue1

Notes Recelvabl . . . $ 3,940.25 2,358.12 1.430.25 1,062.43 1,598.80

Int rest Accru d - 11 and Gas Notes ... .

J. W. Nichols contract ... . First National Bank ot Fort olllns, closed .. First National Bank ot Wellington, clos d ....

LIABILITIES AND NET WORTH

Current I

Notes Payable ... $

Accounts Payable--scurvin Ditch ... . Interest Accrued-Bonds Payable ... . Interest Accrued- otes Payable ... . Taxes Accru d ... .

Fl ed1

First Mortgage Bonds ... .

t Worth1 42,600.00 482.75 4,336.63 588.40 4!7. 79

Capital Stock (9999.52 2-9 har s) ... $ 499,976.11

Pr mlum Capital Stock . . . . . . . 3,450.00

Capital Surplus ... 2,676,017.01

Surplus Assessments Capital Stock . . . 212,494.18

Profit and Loss Deficit

$3,391,937.30 320,254.25 10,389.85 $3,615,537.62 $48,354.57 495,500.00 3,071,683.05 $3,616,587.62

R

EC

APIT

U

LATION OF EXPENDITURES FOR YEARS 1925 TO 193

4

IN

C

LUSIVE

Salaries . . . . Attys. fees, Ct. co t ... . Taxes, County . . . . Canal Riders . . . . Telephone . . . . Directors . . . . Maintenance . . . . Expenses . . . . Michigan Ditch,

in-cluding enlargement .. . Construction . . . . Maintenance . . . . Interest. . . . Ditch A sessments . . . . Perm. Improvements .... . Canal Enlargement and Tunnel . . . . Maintenance on Equipment. . . . Wat r Tollage . . . . Water Right and

Real Estate . . . . Equipm nt . . . . Indebtedness

Reduc d . . . . rise llaneous . . . . Joe Wright Repair .... . Halligan Dam Enl'gt . . . . Extension of Bonds ... . Damage (Settlement) .. . Bond Dt count . . . . Bond Expense . . . . Box Elder Wasteway ... .

1925 $ 5,420.00 4,767.77 239.38 3,891.24 4 8.81 420.90 5,863.14 2,446.01 11,7 7.10 42,232.10 456.90 5,737.21 8,507.97 982.05 367.50 1,358 .. 2 16,259.27 3,074.15 2,969.58 50.00 1926 $ 58 7.35 $ 1,782.78 222.47 4,732.52 459.21 490.05 8,067.40 2,076.20 18,540.83 6,176.22 40,525.92 482.75 7,487.50 1,108.98 5,961.91 400.00 8,257. 76 17,675.93 103.10 125.00 Total. . . . . . . . . . . . . . . . 117,340.00 $130,565. 8 1927 5,437.90 1,598.80 216.36 4,553.75 4 2.05 931.80 11,226.88 2,229.65 13,191.40 8,045.52 41,175.17 361.60 4,552.17 644.03 985.17 1,551.00 22,340.50 500.00 75.00 16,785.00 1,501.53 192 $ 5,434.50 $ 3,504.07 326.82 4,691.18 434.00 450.60 6,016.06 2,125.61 1,524.45 7,095.79 37,054.95 361.60 2,235.58 495.36 6,237.65 578.59 14,975.18 ~60.00 10,215.00 464.32 $104,581.31 1929 5,834.65 2,527.75 24 .84 4,171.17 3 .56 443.37 6,803.38 1,630. 76 1930 $5,445.05 $ 1,844.00 240.03 4,32 .58 417.61 504.40 5,568.63 2,365.79 2,135.67 5,015.04 7,172.96 4,640. 79 33,242.45 31,879.06 470.81 458.87 1,65 .85 2,532.30 522.06 591.38 1,485.63 1,231.40 18 .06 61,85 22,600.00 23,000.00 2,085. 0 193.67 192.18 1931 4,910.00 $ 1,471.15 371.19 3,248.02 371. 8 37 . 70 3,426.90 1,570.36 4,323.25 30.510.11 482.75 2,196.68 2,028.44 1,136.63 1,251.94 244.38 1,139. 77 26,500.00 5,587.52 1 0.15 1932 4,5 6.00 1,021.00 375.35 2,986.17 415.81 418.20 3,851.24 1,184.00 17.18 3,282.28 29,314.38 325.84 1,782.45 1,184.10 202.01 211.50 336.08 !12,000.00 1,223.67 188.47 1933 4,125.00 $ 1,158. 4 301.32 2,978.30 3 .94 365.85 3,554.91 1,081.83 3,009.59 28,702.10 325.25 144.90 902.10 1,647.54 19 .25 341.25 3,832.85 2,076.53 100.00 165.04 1934 4,125.00 1,242.30 191.82 2,6 8.02 377.49 271.15 4,677. 75 1,236.08 1,750.51 28,773.75 337.75 88.44 1,203.51 1,784.00 30.50 40.00 2,400.00 274.00 17.46 165.03 1,834.99 91,328.82 $ 74,905.73 $ 55,400.79 $ 53,509.55

ANNUAL REPORT

The

North Poudre Irrigation

Company

D

ir

e

c

tor

s

V. H. Akin---Fort Collins, Colorado

J. S. Elder---Wellington, Colorado M. J. Fitzpatrick ______________ Wellington, Colorado E. F. Munroe---Fort Collins, Colorado Alex Nelson __________________ Fort Collins, Colorado

Officer

s

E. F. Munroe _____________________________ PTesident M. J. Fitzpatrick---Vice Pr~ident

Stella M. Newell _________________________ secretary

2

-REPORT OF THE PRESIDENT OF

THE NORTH POUDRE IRRIGATION

COMPANY

FOR THE YEAR 1935

Water

Supply:

Throughout the winter of 1934 and 1935 and up until May 20·, 1935, the outlook for irrigation water was perhaps the most discouraging in the history of the Company. There was not sufficient water in stor-age to last over ten days; the ·soil and sub-soil were too dry to plant crops, much less germinate them; and the normal planting season was over for all crops. Stream flow was small, and after March 15th was demanded .by owners of old rights for direct irrigation, and while snow-fall in the high mountains was reported normal, we knew that water from melting snow could never come in time or in suffl·cient volume to germinate and mature a .crop; and the future looked black indeed. It appeared as if this was to be the worst drought year on record.

However, during the last ten days of May, general rains fell with a total precipitation of about 6.6 inches; storage filled up rapidly; and by June 15th the flow of the Poudre Riv r reached eight thousand second feet, with water going to waste. The peak of the North Fork was 750 second feet on June 9th.

Stream flow held up weU and this was fortunate, since there were no more general rains throughout the crop season, and without ample irrigation, there would have been no crop.

Irrigation began June 12th with six days of free water and con-tinued until September 21st. Total dividends were 138,000· cubic feet per share, which with about 12,00·01 'cubic feet per share free· water, made a total of 150,000• cubic feet (3.44 acre feet) per share-the best year since 1929. Michigan Ditch furnished 164 million feet of water during the season.

Total precipitation for the year was about 17 inches with a tem-perature surplus of 600 degrees.

Crops:

Due to the extremely unfavorable conditions in the spring, the greater part of our crops was seeded after May 20th, fully thirty days late, .but fair yields were obtained nevertheless. The acreage of ugar beets and alfalfa was low, grain about normal, and a high acreage of corn, beans and forage crops was planted very late.

After tbe rainy period in May, there were no further general rains in the growing season, and almost continual irrigation was nee esary on one cro_p or another, so that tbe total water requirement was high. Practically every crop required at least one more irrigation than is usually given.

3

-A few of the poor farms dropped out a.nd their water was rented to other stockholders. The total number of shares transferred from one stockholder to another was 1,820.

Prices received for farm products have been good; there is plenty of feed for livestock; and our general condition is much improved over last year, and several thousand per cent better than we had rea· son to anticipate la.st spring.

Through the courtesy of the Great Western Sugar Company, we present the following data concerning the 1935 sugar beet crop raised on lands under the North Poudre system:

ACREAGE, TONNAGE, AVERAGE AND HIGHEST YIELD AT EACH BEET DUMP

NORTH POUDRE SYSTEM, 1935 SUGAR BEET CROP

Total Acres and Average Yields Highest Yields

Tons per Tons per

Station Acres Tonnage Acre Grower Acres Acre

K!luver 139.78 201)1.06 14.68 Fred Coutts 14.25 17.23

Black Hollow 114.08 15601.84 13.69 A. Brunner 42.75 14.72

Factory 51_{5.38 666.48} f2.03 _{Cecil Davis 4.18 16.19}

Giddings 125.15 2032.12 16.16 Victor Akin 67.48 18.98

Barnett 642.65 8069.57 12.56 E. S. Thomas 9.81 17.94

Wellington 680.64 7683.15 11.29 J. F. Schreiner 17.95 16.90

Dixon 431.17 4634.16 10.75 Jacob Haas 12.95 15.8r7

Waverly 277.16 2993.49 10.80 J. Schn idmiller 25.73 15.01₁

Buckeye 239.95 2673.5(} 11.10· C. M.. Holtcamp 22.12 14.91

Totals 27015.96 32364.37 11.90

4

-ACREAGE AND YIELDS OF BEET CROPS GROWN UNDER NORTH POUDRE SYSTEM

YEARS 1929-1935 INC.

Year Acres Total Tons Tons per Acre

1929 6,457 75,224 11.65 1!J3{) 7,098 107,547 15.15 1931 7,30'7 84,053 11.50 1932 3,974 37,351 9.40· 1933 4,344 47,912 11.03 1934 4,039 35,553 8.80 1935 2,706 32,364 11.90

Work Accomplished:

Besides regularly required maintenance work, we have completed three miles of shovel work, one 4-foot x 24-foot arc-w lded steel radial flood gate, 15 Parshall measuring flumes including one 8-foot size below Reservoir No. 6, and a number of other substantially built small structures, all handled by company forces and equipment.

Financial:

Last July we applied for a loan from the Reconstruction Finance Corporation. The appraisal has been made and approval is pending. If we are able to secure this loan, our interest will be reduced from 51A, to 4 per cent, and the loan will be on an amortization basis of ap-proximately 25 to 3(} years, which will make the annual principal pay-ments easier to pay. In case this loan is not approved, we expect to continue our efforts to re-finance our loan through other sources. The Board feels that it is absolutely essential to re-finance the indebted-ness of the Company before 1938, when principal payments again be-come due on our present bonded indebtedness.