Incorporated in 1908 and based in Lynndyl, Utah, the Sevier River Land and Water Company (SRL&WC) was one of many speculative companies formed after the passage of the Carey Act of 1894. The law gave private companies permission to construct irrigation systems in the semiarid West and profit from the sales of water from those systems. Companies like the SRL&WC would front money for water projects like canals and reservoirs, then advertise the newly-irrigated land to prospective buyers. The company would then attempt to turn a profit by charging the landowners fees for the use of water originating from company-owned infrastructure. Often several water companies would collaborate to finance the construction of a headgate, pipeline, or dam. In 1913 the SRL&WC entered into an agreement with three other companies concerning ownership of water rights in the Sevier Bridge Reservoir (in Juab and Sanpete Counties). The SRL&WC would own 41%, the Deseret Irrigation Company 26%, the Delta Land & Water Company 17%, and the Melville Irrigation Company 16%. The companies were to share the cost of improvements to the reservoir in the same proportion. By 1920, many of the speculative companies in this region encountered financial hardship, including the SRL&WC. Unable to pay its taxes, the company folded on June 14, 1920.