When the fence rails or other property of any person in this state is removed by high water and lodged upon the land of another, the owner of the property removed may, except as provided in ORS § 99.050, proceed upon the premises where such property is lodged within four months after the removal. If the proprietor of the land refuses to deliver up the property, the parties shall each select an arbitrator who shall examine or hear evidence upon all the circumstances and facts and determine the case. If the arbitrators cannot agree, they shall select an umpire, and the decision of a majority of them shall be final between the parties.