The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-01-18
BIG LAND DEAL.
Local Capitalists Invest in North
Dakota Lands.
Buy Tract of Northern Pacific Lands
Twice as Large as State of
Rhode Island.

Sundays Pioneer Press contained
the following particulars of an ex-
tensive land deal in which several of
our local capitalists are interested and
through which they come into pos
session of tract of land which in ex-
tent would make a young empire. 1t
says:
1.-THE largest real estate transaction
ever made in the Northwest was closed
yesterday, by FL. A. Hunter of the
Hunter Windle company of Mime
apolis, by which the Northern Pacific
Railway company dispose of the en-
tire remaining portion of it's federal
land grant of 1864, lying between the
Missouri and James rivers in North
Dakota, amounting to 1000, 600 acres.
"The lands, about 2,344 square
miles, are included in tract covering
about SO, 900 square miles. They have
been bought by syndicate composed
of Carlos Boynton, a capitalist
William Hoerr, president of the Citi-
zens' National bank and L. Patterson,
prominent wholesaler, all of Man
kato, and the L. S. Hackney Land
company of st. Paul
"The purchase price runs into mil
lions of dollars, but Mr.. Hackney
stated last night that the syndicate is
not yet ready to announce the exact
figures The option on the lands,
mainly agricultural and grazing, was
given Nov. 81, 1900, the Northern
Pacific's interests being represented by
F. G. Willsey, general Eastern land
agent. The option was covered yester-
day and deeds to the lands will be
given as soon as the syndicate can in
corporate. The tracts taken up lie in
Stutzman, Logan, Kidder, Burleigh,
McLain, Mcintosh and Emmons coun-
ties, with scattering townships in ad-
jacent counties. The sale includes
portions of $50 townships.
''The transfer has been two years in
progress and has been under considera-
tion in the Northern Pacific director
ate on several different occasions.
The terms were not arranged until the
option was given last November. 1t
practically cleans up the entire hold
ings of the Northern Pacific between
the Missouri river and the great lakes,
with the exception of the st. Paul &
Duluth grant. 1t exceeds the recent
Weyerhauser syndicate timber pur-
chase by 500, 600 acres.
"The tracts bought are wild lands
and include some of the finest ran Oh
property in the West, Astounding in
water and meadows. Arrangements
for settlement will be made shortly,
and Mr. Hackney stated last night that
colonization with immigrants from ad-
joining and Eastern states will be
pushed with energy. He shows appli-
cations from more than 700 families
wishing new homes along the Mis-
souri,. The lands will be placed on
the market by the Hackney Land com
pany. The sale exceeds in acreage the
1898 purchase of Northern Pacific lands
by local land company and the more
recent sale to land and colonization
company. New branch lines of rail
way projected by the Northern Pacific
will be put through the transferred
grant this year.
Messrs. Boynton, Hoerr and Patter-
son were seen this morning by a repre-
sentative of the Free Press, but said
they had nothing to add to the above
at this time, as it practically covers
the situation. The lands lie in and
adjacent to the newly discovered coal
fields, which add greatly to their
value, as this discovery practically
solves the fuel question for that Sec
tion. Many of these lands lying in
the territory where coal has been dis
covered, have coal upon them, and are
likely to prove most valuable in this
respect Mr.. Boynton stated that
veins Of coal had been discovered in
that section that were six feet through,
and within five feet of the surface. On
the lands in which former Senator
Washburn is interested. and which lie
adjacent to those purchased by the
above gentlemen, coal mining is being
opened up to considerable extent and
about 1000 tons per day is being
taken out, but they are yet unable to
supply the demand 1t sells at sc
cents per ton at the mine, is of good
quality and burns up clean. There is
no timber except some along the
streams.
The gentlemen are confident that
they have good thing in these lands
as they are all first class grazing and
farming lands and that they will
realize handsome return fir ON their
investment.
The empress of China has issued an