The company which was to handle the project was known as the Belmont and Froid Canal and Reservoir Company. One hundred and seven persons of Union precinct asked for an election to vote fifteen thousand dollars in subsidizing bonds; one hundred and eighteen petitioners proposed twenty thousand dollars of bonds as the quota of Froid precinct; fifty-one persons in Green precinct wanted to vote on twenty-five thousand dollars of bonds ; all for the same purpose and elections were called for August 5, 1890.

In the meantime some of the old settlers had been stung by subsidization bonds for railroads back east, as the railroads were never built or had ceased to operate and the rails were torn up after the bond had been secured. These men set about making an independent examination of the project, with the result that

it was found that the elevation of the Froid tableland proved to be from seventy-five to ninety feet too high to get water to it through the Belmont intake from the river. Mass meetings were called and Anderson was asked to explain. The versatile Anderson said that an hydraulic power station on Rush creek would lift the water and at the same time an electric generating plant could be added. However, the seed of doubt had been planted in the minds of the people, and the scheme failed. The elections were re-called.

The writer was then publishing the Ashford Advocate, and from Banner county watched the progress and ultimate failure of the idea.