Power & Irrigation Co. v. Capay Ditch Co.

The plaintiff is a corporation organized under the laws of- the state of Arizona. The complaint avers that the Central Counties Land Company, a corporation organized under the laws of the state of California, was on November 18, 1907, the owner of certain lands in Lake county, and on that day borrowed from defendant Capay Ditch Company three several sums of money, $5,625, $8,320.75, and $10,625, and executed and delivered to said ditch company its three several proinissory notes for the said amounts, all payable on or before August 1, 1908. That contemporaneously, and as a part of the same transaction, and solely for the purpose of securing the payment of said notes, the said Central Counties Land Company executed and delivered to said ditch company an instrument in writing, in form a grant, bargain, and sale deed, but intended as a mortgage, conveying to said ditch company the said lands in Lake county; that on December 18, 1911, the said ditch company conveyed said lands to defendant Yolo County Consolidated Water Company, which company thereafter conveyed the said lands to defendants L. D. Stephens and Joseph Craig, who in turn conveyed the same to defendant Yolo. Water & Power…