The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-04-28

ever made in this territory was closed
up yesterday morning and as result
the great Canaan Cooperative Stock
company brand, carrying with it
ranches, cattle, horses and general
equipment, will change hands, the de-
livery to be finally effected before the
first day of October. The purchaser
named in the contract is B. F. Saun-
ders, although it is understood that ].
B. France, of st. Joseph, Missouri,
and possibly several other capitalists
are backing him. This deal has been
on for just one month and by the at
taching Of his signature TO the con-
tract of sale, James Andrus, president
and general manager of the Canaan
company, sealed the compact and pro-
vided for the transfer of the entire
property of the company, real and
personal. While the exact price paid
for the brand was not made public
yesterday, it is known that the deal
involves total amount of not less
than 100000. President Andrus came
up from the south Friday and expects
TO remain here until Tuesday or
Wednesday, attending to the details
of the sale and providing for the dates
Of transfer. Immediately following
his return to the south, the company
will send out its range forces and the
gathering of the cattle and horses will
commence. Roughly estimated, THE
total number of cattle ON the ranches
Is something over 5000, and in addi-
ton there is a large number of range
and saddle horses.
great stretch of country in southern
Utah and northern Arizona, extending
back over what is known as the Hur-
ricane Heights to the Pipe springs on
the east and out to the breaks of the
Colorado ON the south. There are
three home ranches and an abundance
of water. Taken altogether it is an
ideal breeding range and the steers
which come from there are the equal
of any in the territory. Cattle and
horses range out all the year round
and it is not necessary to raise hay,
unless for the use of saddle horses
kept at the home ranches during the
winter months. 1t is understood that
the purchaser contemplates some i'm
prov ements in the water systems, by
the putting in of pipes to conduct the
water far out on the range. This would
make 1t unnecessary for tine cattle to
travel such long distances to the wa
tering places and remove the tendency
to 4egginess. AT the spring roundup
the count of cattle, including all pass
able calves, gave total of something
over 9, 900 head, and. Mr.. Andrus feels
confident that he will be able to turn
out not less than THE number named.
The transfers are to be made as soon
as practicable and THE gathering and
branding of the cattle will consume
the greater part of the summer.
For the past twenty-five years the
Canaan Cooperative Stock company
has been in existance and during that
time it has paid annual dividends to
the stockholders on the capital of
$780, 900, ranging from 10 per cent,
never less, to 4S per cent During all
this period Mr.. Andrus has been in
active management of the cornpany's
affairs. with the exception of a short
interval. AT present he is president
and general manager. The heaviest
stockholders in the company and the
control, are Woolley, Lund & Judd of
st. George.
According to the articles Of incor-
poration of the company the life of
the latter will end by limitation in |
the month of November and there
will be no re-incorporation. Before
the month named the affairs of the
company Will be wound UP and the
will receive their proper
ton of the proceeds of the sale. AL
though there Will be a distribution of |
the balance TO the company's credit, |
the stockholders will greatly miss the |
annual dividend payments. They are |
all southern Utah and Salt Lake peo-
pie.
Mr.. Andrus gave the greatest at !
tention\ ito the details of the contract |
and as a result the stockholders in |
terests were amply protected.