The record-union., 1892-11-04

but the word is misapplied where the
owner of piece OF land subdivides his
land and sells at the subdivision rate,
that Is, he charges the purchaser with the
enhanced value due to segregation.
III should be understood, in speaking
of this subject, that aggregation reduces
the value OF landed property, while seq
regatlon enhances it. The great mis-
take made by those who aggregated the
small holdings iE Colusa, Glenn and Te-
mama Counties into large estates was that
the general value of the landed property
decilned by the process. In the purchase
OF tnese lands borrowed capital was en-
pIoYed, mortgages resorted to, and so far
from realizing profits failure was ex-
perienced.
The true colony idea is for number
OF persons to purchase a large body of
land at a value which aggregation places
upon 1t and subdivide it into small
oWnerships. The subdivision of the land
among the colonists-those purchasing
gives 10 each his portion at the wholesale
prlce liked upon the entire tract. The
Increment arising out of its subdivision
thus inures TO the purchaser.
ms being understood, Mr.. Hunting
toms plan will come plainly into view.
He has purchased over 5000 acres of
the very best land to be found in the
sacramento Valley. He has purchased
tins land at $40 an acre. Better land can
not be found in the State. The land is the
very best Sacramento River bottom-land,
capable of cultivation in every season of
the year, susceptible to the full round of
the objects of cultivation, including
cereals, fruits and garden stutfs in all
their varieties. The purchase is the
cheapest known for years in the valley,
The plan OF subdivision will be, after
the ordinary preliminaries of surveying
INTO DiOpl-G tn 11Igpn rho land N
to its intrinsic valuation. None of the
land will be sold for less than the mini
mum valuation of $40 an acre, but some
Will be held at $50 an acre. The culmina-
ton OF the whole plan viii repay TO Mr..
huntington the exact cost of his purchase
and divide the surplus among the new
Ianuholders on the basis OF a percentage
OF what each has paid. The cost will in
clude the original purchase the cost Of ad-
mlnlstratlon, with low rate of interest
on the purchase money; from this will be
suDtracted the rents and profits OF the
land, all interest paid on account of sales
and proceeds OF the sales. whether prin-
cipal or interest, and the difference will
constitute dividend TO the colonists.
"A summary Of these general features
might be presented in this form: Mir.
Huntington has purchased of the owner
large tract OF land. lie is willing to
iorego all profit in the subdivision OF the
land to induce its settlement and occu-
pancy by thrifty. intelligent and indus
trlous cultivatOrs. He is seeking TO lay
the foundation of community life upon
the small holdings OF very fertile land in
California. He is making an experiment
to ascertain the extent 10 which there is a
demand for small holding OF fertile land
IN areas sufficient to employ the industry
OF single agricultural holder, and to give
the cultiVatOr an opportunity TO become
the owner of the of itS
tility through the intelligent application
OF his own industry. In the second place,
he IS giving the purchasers of this land
the same advantage Of purchasing a sim
gle piece which would lnure to them if
all had united in the formation Of a colony
company and made the purchase them
selves at the minimum rate of $40 per
acre, and had then subdiviGeI by them
selves the small holdings i'll proportion to
the value.
IF this enterprise is successful MIR.
Huntington will no doubt engage in
other similar undertakings, thus becom-
ing the capitalist for the small cultivator
of the soil and facilitating his ownership
of the land he cultivates. Mr.. Hunting
ton made very careful and thorough
personal inspection of the land upon its
purchase. and carefully considered the
practicability Of its subdivision, and,
above all, the probable opportunities for
lOT Ine EN- pIOymGnC OF the unused sur
Plus of the LABOR of the colOnists.
The location possesses many advant-
ages which afford a guaranty of the en-
ployment of the industry OF the colonists.
ION the face of the purchase itself there
are about $40 acres of timber land scat
tered in picturesque groupings. the
land will be 50 divided that as nearly as
possible each piece shall contain a portion
Of the timber. The timber comprises a
splendid growth Of oak, large, smooth
and thrifty, easily converted into fire
wood. The railroad station upon the
land has been one of the well-known
wood stations of the road, and market
for wood will be readily obtained. 1t
may also be found practicable to sell
detached wood lot of small acreage to
some of the purchasers of lots of land
where forests are not contiguous. All
these matters will have careful consider
alton.
The subdivision will be proceeded
with at once. In the meantime such
of the tracts as are not sold will be culti-
yated as heretofore to cereals, but will be
held subject to possession of the colonists
who may wish TO buy"