The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-01-31
STATE OF MAINE, Erecutive Department, |
Augusta Dec. 81, 1865.

OhLC Vt ONll SlAIES LAND
Proposals will be received till the first day of March
by His Excelency Samuel Cony Governor of the State
OF Maine for the purchase of the land scrip issued
to said state for the endowment of college for the
benefit of agriculture and the mechanic arts, in
quantities not less than five thousand acres. Terms
cash, payable in lawful money at the office of Treas
urer of State of Maine at Augusta, at the Suffolk
National Bank, Boston, in twenty days after notice
issued of acceptance of offer. Tae scrip to be dey-
cred at Augusta Right to reject proposals reserved.
All offers will be directed to the address of the
Secretary of State, Augusta Maine and endorsed on
the outside Proposals for Agricultural College Scrip.
EPHRAIM FLINT, Sec'y of State.
On the first day of March, 1865, the Governor and
Council proceeded to examine the bids made which
in the aggregate were for 22 1860 acres will appear
by the schedule accompanying this report. The bid
varied in amount from ten cents to sixty cents per
acre. The bids in several instances as will be per-
ceived, were in the alternative to take small
amount at larger price or larger lot at small
er price, 1t was determined by the board under the
right reserved in the advertisement to reject all bids
below ffty-two and one-half cents, and to accent
those at and above that sum- the successful bids be-
ing for acres, and those rejected for 125 900
acres. In as much as the bids allowed, absorbed bat
little over one-ha of the grant it deemed for the
interest OF the state to accept those of the same in
dividual for tho largest quantity Of land.
Inc successful bidders duly notified by the
secretary of State that their offers accepted by
communication sent through the mail From Chas.
Davis OF st. Louis, no reply was received. Mr.. Nc
Ciure of st. Cloud in consequence of delay in
the mails did not receive his notice (Which was that
all his bids being for 1880 acres accepted0 in
due season. in consequence of which he declined to
take the scrip, having purchased elsewhere, but
made the offer for fortysix pieces being 1850
acres which was accepted. So that upon the bids as
made up to the first day of March, but 9936O acres of
the land were sold. On the 18th of March, d. Pres
ton g. Co, applied to duplicate their purchase, and
on the 26h of the month, to triplicate on the
same terms of their first purchase, which agreed
to, SO that the sale to them amounted to &C. 000.
On the 18th of March, VIM. X. Lancey proposed to
take $4,000 acres and Gen. Franklin Smith 10000
acres at ffty-three cents per acre, and the
day John Kimba for himself and others, proposed
to take 5000 acres at fty-three cents. These offers
were severay accepted, and the extent IF the FORE
going sales including the bids of March 1st which
were consummated, was 900 acres, being as near
the quantity bid for as the size of the scrip would
permit.
1t having leen suggested that the trustees of the
College were desirous of having portion of scrip
served for location it decided not to sell but re-
tain the balance subject the action of the Legila
ture, and there now remains hundred and two
pieces of Scrip of hundred and sixty acres EACH
being 1890 acres in all.
In conformity with the law Of the state and the
United States there has been purchased Bonds of
the State of Maine bearing interest at the rate of six
per cent. per annum, amounting to $lO45O leaving
OF the principal Of the fund uninvesed, $1947O The
bonds and balance of the funds Aforesaid have been