The Saint Paul globe., 1897-10-22
BIDS RANGE HIGH AT THE STATES
SALE OF. STANDING
PINE.
APPRAIsALS ARE DISTANCED,
THE STATE REALIZING MUCH
MORE FROM THE PROPERTY
THAN EXPECTED.
SOME OF THE LuMBERMEN KICK.
Say That State Auditor Dunn Shut
Off the Bidding Too Soon
in Cases.

"It was the biggest and best sale of
stumpage ever held in this office, and
I feel very highly pleased with my
days work. was the comment of State
Auditor Dunn, at the close of the auc-
ton sale of standing pine, yesterday.
While the prices were not on their
face, higher than ever, they were in
point of fact, as they ranged far high
er than in the only sale heretofore
made under the custom requiring a
cash deposit. Before rivals reluctant
to see any one else get choice timber
would run the bidding up to a prohib
itory figure and then not take the pine.
Now, however, when they have to
make 25 per cent deposits in cash, such
amusement would be costly, indeed.
AS the clock struck 10 yesterday,
Auditor Dunn entered the hall of rep
resentatives at the capitol and found
nearly 200 loggers and others interest
ed in the sale congregated there. In
the crowd was Representative G. z.
Staples, Of Dakota county, the father
of the new timber law and also mem
Der of the pine land investigating com,
mission, and Mr. Dunn invited him to
a seat beside him on the dais. Then, in
a, clear, business-like voice, the audi
tor proceeded to state the conditions
of sale, re,narking that the valuations
made by the eStimatorS were careful
and conservative, and that rs per cent
of the appraised price would be re-
quired paid down, the balance of the
purchase price being due when the
- 81 1xyt Gn
surveyor generals, and the total pur-
chase price to be based upon his fig
ures, the deal to be finally consum-
mated within three years. Without
further ado he proceeded with the
auction.
The bidding was extremely spirited;
all the prospective buyers were "out
after blood" and the price was run
up at lively rate. On the first (and
the largesD parcel, the price started
in at the appraised valuation of SO per
1000 feet and was run up to the re-
markable figure of $5.O5. This showed
the humor the crowd was in. 1t was
the highest price reached during the
sale, but the competition over the 9th
er parcels was equally lively. One
tract which was offered and refused
at the sale in June, at it's upset price
of $3.50 per 1,O0O was bid in yester-
day by w. T. Bailey, of Duluth, at
$3.05.
With but few exceptions all the sale
prices were in advance of the estimat-
ed values, and in some cases this ad-
vance reached the remarka BILE point of
$50 per cent increase. The average
price paid was upwards of So per ]. .OO0
and it will bring the state in over $175,-
600. Of this, something like $25,00O will
be paid into the treasury Immediately
"as a guarantee of good faith Under
the old law no deposit was required,
and many straw" purchases were
thus made, where the buyer never took
or paid for the property, and the tim
Der rotted on the ground
Of the f1fty-eight larger parcels Of
fered, all except three were sold. Be-
sides these about 100 smaller tracts
were offered, on which the standing
timber was under 100000 feet on
parcel, and sixty of them were disposed
OF, thirty-eight not being bid on. The
total sale was upwards of 10000, 900 feet
This clears up nearly all the state
timber in danger of destruction
Among the tracts sold was one on the
Red Lake reservation, of 2,S50000 feet
and was purchased by John Irvine, of
Minneapolis, at the upset price of So
per 1000 feet
The following is a tabulated state
ment showing the sales of the larger
tracts, the purchasers, the estimated
number of feet, appraised value and
price sold for: