Omaha daily bee., 1899-03-05
BIG LAND SALE TOMORROW
Union Pacific Holdings to Be Sold Under
Foreclosure Proceedings,
HALF A MILLION ACRES IN NEBRASKA
Company VIII Buy IL in and Place IL
Upon the Market for Settle
mcnt ut Earliest OPP
portunity.

Beginning tomorrow morning in this city,
the public sale Of the lands OF the Union
Pacific Railroad company covered by the
sinking fund mortgage given by that COM
pany, will be held. These lands are in
Nebraska, Wyoming, Colorado and Utah,
with a total of something over 5000, 900
acres. The disposition OF this property, and
the confirmation Of the sale, will practically
clean up all the financial difficulties Of the
road incurred previous to the taking control
by the present management Of the company.
The sale of the Nebraska lands will be
held at the court house in this city at 10
o'clock in the morning. All of the sales
will be made under DEGREES granted by the
United States courts of the several states
during December last, on the sinking fund
mortgage of December is, 1873, given by
the Union Pacific Railroad company to the
Union Trust company of New York as
trustee.
Sherman r. Day, as special master. will
make the sale, and he will offer the various
tracts separately and then as a whole, dis
posing of the property in the manner which
brings the most money. The upset price
is $4,000, 600 for all the land in the four
states, which is 6,131, 759 acres.
THE following is a statement of the
Nhltu dCllC INdllTOdu company 5 ldDQS DN
counties in the state of Nebraska, and the
total aggregate in the states of Colorado,
Wyoming and Utah. covered by the mort
gage under which the sale is to be made:
Location Of the Lands.
Washington, $50 80; Douglas, 51.7O; sarpy,
215.11; Cass, 1O1.O5; Dodge, 2OS.3 So; Saunders,
74i.O6; Colfax, $3.50; Butler, $3.50; Platte,
942.14; Polk, 245; York, 100; Boone, So;
Nance, 1880; Merrick, 2~,321.29; Hamilton,
5O7.O2; Howard, 2,14s.7O; Hall, 1890. %;
Adams, 1920; Sherman, 399.92; Buffalo,
~s,552.S4; kearney, 2,715.11; Phelps, 1852. CO.;
Custer. 23,SS7.72; Dawson, 80, 99S.37 Gosper,
10,115.07; Frontier, 5,936.S6; Lincoln. $780,
SiS.54; Logan, %3,199.25; Mcpherson, 80, 631.O6;
Keith. 117,321.17; Keith and Duel, 2~,S14ST;
Perkins, 13,41S.6S; Deuel., 81, 2S3.93; Chey-
enne, 139, 06S. 3S; Banner, So, 42S.19; Kimball
loo, OO1.S4 acres; total for Nebraska. 1,1O7,-
1887 acres. Colorado, 342, 534.64 acres;
Wyoming, 4,062, 64O.42 acres; Utah, 61S,-
S24.43 acres; total for four states, 6,13t, 759. O6
acres.
"Of this total the following Is approXi-
mately the number of acres remaining I'M
sold to settlers or investors: Nebraska,
500, 0oO; Colorado, s 6 5000; Wyoming, $780,
900, and Utah, AIS, 900 acres. In the rest Of
the land which will be offered for sale by
the special master the Union Pacific owns
only an equity, the property having been
sold under contract, which will be protected
by the purchaser.
Company VIII Buy 1t.
There doesn't seem to be any question but
that the Union Pacific company will buy in
the lands at the sale, and w. D.. Cornish,
vice president of the company, will arrive
here today for that purpose. He will be ac-
~cOmpanied by a party of other officials of
the road from the east, and, after the sale
tomorrow will go to Colorado, Wyoming and
Utah to attend the sales of the lands in
those states which will be held during the
week.
1t will probably require about thirty days
after the sale before it will be confirmed by
the United States court, but after the con-
the Union Pacific company will put
the land on the market without delay.
Advertising matter bearing upon the
property will be issued at once, and en-
ergetic action taken to bring settlers to
these unocCupied acres during the period Of
the fall immigration. land COMMISSIONS
MCAllaster says he has now on file many
applications from prospective purchasers for
portions Of the land, and a number of sales
in such cases will probably be made without
loss of time. Applications of this character
will doubtless be increased as soon as the
conclusion Of the sale is announced.
The officials of the Union Pacific road feel
that while 1t is a good thing for the COM
pany to have this land taken out of the
court and definitely located as to right of
possession, it is also a good thing for the
state to have the half million acres opened at
once to settlement upon terms which are
believed to be more than reasonable. With
the most favorable outlook for immigration
the state has had in ten years, the officers
Of the company anticipate an almost un-
paralleled influx of settlers to these lands
during the coming year.