HAND, Circuit Judge.
In this case the petitioner, a Delaware corporation, has built hydroelectric dams at several places on the Clyde River, Vermont, which rises in the northeast corner of the state and empties into Lake Memphremagog at Newport, Vermont. Lake Memphremagog itself extends from Newport across the border of Canada and into Canada.
After leaving a small pond, called Spectacle Pond, the Clyde passes through Island Pond, another small sheet of water...
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