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SAN DIEGUITO MUTUAL WATER COMPANY

19--, California. Unissued stock certificate. Blue / White. Vignette of a dam and the Californian countryside at top. Ornate blue border and seal. Punch cancelled. Financially backed by the Santa Fe Railroad, the San Dieguito Mutual Water Company was responsible for the construction of the Hodges Dam on the San Dieguito River. In addition to serving the railroad lands in Rancho Santa Fe, the company also provided irrigation to numerous town on the north coast. The San Dieguito Mutual Water Company was also the source for San Diego's water beginning in 1920. This arrangement continued for five years until the city purchased the entire system from the San Diego County Water Company for nearly 4 million dollars.