Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1885-07-17
RAILROAD LANDS.
Terms of Payment Made Change
in Policy.
!san Francisco Bulletin, July 10th.

lSan Francisco Bulletin, July 10th.
Owing to the business depression which
is felt in California as well as in the rest of
the country, there has been less demand
thus far this year for lands in this state
than for a long time previously. In order
to stimulate the demands, and to keep up,
if possible, the annual average of lands
disposed of, the Central Pacific Railroad
Company has made several changes in its
land policy. The most important per-
haps, is that relating to the terms upon
which lands are sold. Heretofore the pur-
chaser has been required to pay down 20
per cent. OF the purchase price, and per
cent. interest on the balance due, making
in all a little over % per cent. of the total
cost of the land. He is given five years to
pay the balance due, paying per cent. in
terest in advance. In order to afford relief
to the purchases the first payment is dis
tributed over two years, instead OF being
exacted in one, thus reducing the first pay
ment, including interest, to little over
u! per cent. of the purchase price, with the
same amount to be paid the second year.
At the expiration of the second year the in
terest only is paid, as under the old plan.
There is thus given to the purchaser SIX
years instead of five, in which to pay Tor
his land and secure title, with q reduction
of the first payment to one-half Purchas-
ers with q limited amount of money Will
find this change in terms considerable
relief
The company has in Tehama county,
west of the Sacramento river, a tract OF
land embracing $1,000 acres which it will
dispose of at 81 per acre to any person who
will make an effort to attract TO it settlers
or colonies. hereduction in price is made
in the interest Of settlement.
A change has been made also in the pol
icy governing the disposal of grazing lands
in Nevada and Utah. Heretofore such
lands have been sold only, and in such lots
however the stock-raiser will find the
grazing lands divided into natural ranges
the boundary being determined by the top
o5raphical features OF the country, and
each range having an ample supply OF wa
ter. Some Of these ranges are rs small as
10000 acres and some rs large as 25O,G00
while one is SEQ 600 acres in extent. These
ranges will be found to have natural boun-
daries, and their relation to water is such
as to render it improbable that stock will
stray 10 other ranges than those on which
it is placed. These ranges will be either
sold or leased on long time and easy terms.
The determination TO allow the lands to be
leased is due to the many inquiries by
y
have hitherto been unable to secure.
Many men have money enough to stock a
range with nothing left to purchase one,
and it is to put ranges within the reach Of
such men that it has been determined to
adopt the policy of leasing.
Negotiations are now pending between
the railroad and combination OF capital
lists in Muskegan, Michigan, for the sale of
10000 acres Of timber land in the Sierras.
The exhaustion Of the pine forests of Mich
igan and Minnesota is going on SO rapidly
that lumbermen in those States are looking
to this coast for a supply in the future.
The gentlemen who are negotiating for the
land are Of the opinion that if land can be
obtained other large lumber firms will fol-
low their example and secure lumber in
this State, which may be drawn upon as
soon as the Eastern supply is exhausted.
The agent Of the gentlemen referred to will
arrive overland in few days.