The herald., 1896-08-14
Representatives of the English
Purchasers in the City
ARRANGING THE DETAILS
For the Transfer Of the Numerous Pro
perties Involved
The Title Closely Examined by Attorneys and
Found to Be Satisfactory Present
Status Of the Deal

Major George Easton, John Farquhar
Gilmore of London, Eng, and Vincent
Neale, esq, Of San Francisco, are here
for the purpose of closing the deal by
which the celebrated Chino ranch be-
comes the property of the California
Beet Sugar Estate and Land company
Qmited). None of the parties in interest
are very communicative about the mat
ter al present.
Major Easton of EaSton, Eldridge d.
Co., the agents through whom the nego-
tiations for the transfer of the ranch
have been conducted, when asked for
statement regarding the present status
of the deal, said there was nothing new
to be given out. Too much had already
been said by the press to suit his clients,
and he preferred, therefore, not to dis
cuss the subject any further at present.
The major intimated, however, that the
deal was going through all right, and
promised to talk more feely about it
as soon as it was consummated.
Major Easton said the account of the
Incorporation of the British syndicate
under the California laws, as telegraph
ed from San Francisco several days ago.
was substantially correct. Articles of
incorporation were filed in San Fran
cisco August 7th. The capital stock is
given at $2,50O,OO0, divided into 100000
shares Of $25 each. The incorporators
are John Farquhar Gilmore, Vincent
Neale, Henry Francis, Wendell Easton.
George Easton, v. D. Duboce and A.
II. Quatman.
Mr.. Gilmore Is here as the representa-
tive of the English syndicate which
bought the Chino ranch of Richard Grid
for $1,600,00 OF this amount S162.000
is said to have been paid in March last.
and $685. more is to be handed over
upon the delivery of the title deeds now
held in escrow by the Anglo California
bank.
Mr.. Gilmore and Vincent Neale, who
is attorney for the English investors,
had a brief conference with Judge r. H.
F. Varel yesterday in regard to the
titles to the pN'perty. These will be
thoroughly gone over, and If found salts
factory the last obstacle to the closing
of the deal will be removed.
Judge Variel, when SON about the
matter, said nothing had yet resulted
from his conference with the English
men, but he did not know of any hitch
in the proceedings that was likely to oc
cur. For that matter, the transaction
was practically settled now, but there
was such a mass of business connected
Wltn IL tndL IL necessarily required d
great deal of time to comply with the
formalities of the law in affairs of such
magnitude. He thought the deal would
terminate satisfactorily to all parties.
The time of Messsj. Gilmore, Neale
and Easton, since their arrival-from the
north, has been largely occupied with
the taking of an inventory of the nu-
merous properties to be transferred. Ma
jor Easton said when this task is con-
cluded and the rest of the business
shaped up, he may have sSme figures to
give out that will be of interest to the
readers of The Herald. Easton, Eldridge
& Co., it will be remembered. are gener-
al managers Of the property under a
five-years contract, and have since last
September sold more than $500, 900 worth
of the land at from $125 to 1925 per acre,
thereby making a large profit for the
English investors. Wendell Easton is
quoted as saying:
This is a tremendous money-making
proposition. In five years I'VE can make
out of the property at least $4,000, O0O In
eighteen months the syndicate will have
gotten it's money back and will have left
as clear profit principality. Why, the
ranch is earning, under present condi-
tions. upward of 100000 a year. The
Company's debentures will pay per
cent and leave surplus of Is per cent
per annum."
Richard Gird, late proprietor, and C.
H. Phillips, late manager of the ranch
are expected to arrive in the city today
to assist in closing up the deal.