Elder John Henry Smith, recently returned from Arizona, and Mexico, reported to Pres[ident]. Geo[rge]. Q. Cannon this morning that Pres[ident]. C[ollins]. R. Hakes, of Maricopa [Arizona] Stake, had informed him that our people were selling their capital stock in the Canal Co[mpany]., at that place, and he feared that the control would pass into the hands of non-Mormons. Bro[ther]. Smith said he had advised the leading brethren there to cooperate for the purpose of buying up such shares as might be offered for sale, so that the canal might be kept in the hands of our people.
[Source: Journal History, as quoted in Minutes of the Apostles of The Church of Jesus Christ of Latter-day Saints, 1835-1951, Electronic Edition, 2015]