The herald., 1894-04-10
GREAT SALE OF LAND AND WATER.

Some important particulars OF the re-
cent sale by the Crocker heirs, of lands
and irrigating works, in Mercsd county,
to company of eastern investors, have
just now come to our notice. This COM
pany is composed of Chicago capitalists,
who have lorg been familiar with real
estate as a safe commodity in the mar
kets for trading and speculation, no less
than for settlement upon it by orchard
lists and farmers. A number OF these
men have before now engaged success
fully in operations of this kind in differ
ent sections of the country. They all,
therefore, may be supposed to know per-
fectly what they are doing what the
hazards, If any, are-what are the
chances OF success in thie veuture--and
accordingly it may be regarded as an
undertaking that is likely to have an
important bearing upon the future occu-
patton and development of many OF the
uncultivated, or indiffsrently cultivated,
lands in this state.
1t was not by accident that the Chi
cago syndicate located their purchases
in Merced. They did not locate them in
hurry, nor without first looking over
other portions OF the state. Their orig.
insl preference was for Southern Cali
fornia, and until the last month, before
finally closing the trade with the man
ayers of the Crocker properties, they
still hoped to find an eligible tract in
either Los Angeles or San Bernardino
county. The president of the company,
Mr.. A. f Hstch-who is leading lawyer,
aa we'll as business man OF Chicago
epent large part of February in this
region, and examined two extensive
tracta that were offered to him. What
determined him not to purchase one or
other of these tracts was that sufficient
water had not already been developed
upon them. He felt that there was need
to be expeditions in securing and put
ting upon the market the lands
ne was in search of, and hence,
such time as his company might be
able to obtain an ample supply Of water,
would, he thought, be damaging to the
proposed enterprise. His company was
anxious to secure lands for imm ediate
settlement and begin selling now, and
while the advantages gained to Caliior-
mia by the states splendid representa-
tion at the worlds fair are still great
and almost compelling. The popular
direction of thought in this direction
had been ascertained some months be-
fore in Chicago, by having recourse to the
advertising columns OF the newspapers.
-Four several men began work, each man
sending bri ief advertisement to the
newspaper OF his choice, requesting to
he put in communication with persons
that would like to buy lands and com.
mence farming in California. Our in
formant says that the answers to
thoge advertisements were counted
by hundreds. They caused to be
inserted similar notices in the
st. Paul. Minneapolis, St. Louis and
Kansas City papers, and the results in
each instance were similar to those OBJ.
tanned in Chicago. Then it was that
these men. and others with them, re-
solved to form a company and start out
in quest of lands in California, to divide
up into small parcels and ssll them out
to eastern farmers, or TO men desiring to
beco me farmers. No delay or difficulty
WAS experienced in getting subscribers
to the capital stock OF this company /;
men In all the cities Just now named
are stockholders, and the officers of the
company are prominent business men
of these various cities. The president
resides in Chicago, the treasurer in
Topeka. Kan, and the directory is com.
posed of men also chosen with reference
to influence in different localities.
We cannot be mistaken, therefore
in the conviction that this great
boad company, operating solely
with view to profit by adding to this
states population and wealth, is des.
tined to be of immense value to all Cali.
fornia. That il is not OF instant value
to this most favored section, ia owing to