Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1907-08-15
SAN CR|STOVAL
GRANT IS SOLD
B. E. Pankey, Cap
italist, is Pur-
chaser
IMPORTANT LAND DEAL
Consideration Said to Be
Over $14O,O OO..Grant Con-
tains About $4,000 Acres.

One of the most important real es-
tate deals transacted in New Mexico
within recent years was conSum mat
ed in this city last evening by which
the Pueblo de San Cristoval tract or
as it is more commonly known as the
Eaton land grant changed hands. B.
e. Pankey, a capitalist of Topeka,
Kansas, was the purchaser and the
consideration in round numbers is
given as $141 900. The grant is one
of the largest private tracts of land
in the Territory and contains some
thing over 81, ,032 acres.
An effort was made to keep the fact
of the sale secret but it leaked out
today in spite of the precautions OF
the parties interested. Negotiations
have been pending for some time look
ing to the sale of the grant which
was owned heretofore by Saron N,
Laughln and Thomas B. Catron, but
the deal was not closed until last ey-
ening when the deeds were finally
signed and delivered Parts of this
immense tract are under fence. 1t is
situated in southern Santa Fe County,
a short distance south Of Lamy.
May Become Big Cattle Ranch.
What Mr.. Pankey and those asso-
cated with him in this transaction,
for it is believed he purchased the
land for a syndicate of which he is
the head, propose to do with the grant
is not known at this time. However,
it is understood that it will be con-
verted into a monster cattle ranch,
and this seems to be the most plaus-
ible theory as the area embraces
thousands of acres Of grazing land.
There is some pinon in the mountain
GUS sections of the grant where ample
supplies Of fire wood can be obtained.
The Arroyo San Cristoval runs a fair
stream of water in the rainy season
and often during other months of the
year. There are several good reser-
voir sites on the tract, the home ranch
at San Cristoval which for some years
past has been the residence of Mr..
Laughlin contains some very COM
Portable and expensive buildings, and
there is fair water supply there. 1t
is believed that with reservoirs and
scientifically surveyed and construct
ed bitches several thousand acres of
land can be placed under irrigation.
Most of the soil will produce fine crops
of cereals and vegetables with irriga-
ton. There are coal prospects in
several portions of the grant and it
is asserted that valuable coal veins
exists therein AS cattle or sheep pas
ture it is a first class proposition.
One Of Oldest Grants
The tract is one of the Oldest Span
ish grants in the Territory and was
confirmed by the Congress of the Unit
ed States to E. w. Eaton as the rep
resentative of the original claimants
and their heirs. The title to the prop
erty is perfect. S. N. Laughlin be-
came interested in the property by
purchase over twenty-five years ago,
and Thomas B. Catron of this city
prior to that time. Mr.. Catron's inter-
est was held in trust by Mr.. Laugh
lin. The deed was signed by Saron N.
Laughlin and Hattie j. Laughlin, his
wife.
Both Mr.. Pankey and A. A. God
dard, who conducted the negotiations
for him, left last night for Topeka
They have been in the city for the
past few days, but the object of their
visit did not become known until after
their departure. They came here in
company with Mr.. and Mrs. Laughlin
after having inspected the grant and
the deal was closed in the office of At
torney T. B. Catron.
Purchaser Wealthy Man.
Mr. Pankey is identified with sew
eral large business enterprises in
and around Topeka, one of which is
the city electric light and power sys.
tenn. He is said to be a very wealthy
man and shrewd financier. That he
has confidence in the future of the
Sunshine Territory is evidenced by
the fact of his large investment in
New Mexico realty. Mr.. Goddard is
one of the leading practitioners in the
legal profession in Kansas and served
two terms as attorney general Of th,
Sunflower State. 1t is believed that
he is financially interested with Mr..
Pankey in the acquisition of the Eaton
grant.
Following the transfer of the grant
last evening portion of it, containing
about 250 acres and adjoining the
town of Galisteo. was decided to Mr..
Catron. The price paid was not di.
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