East Oregonian : E.O. (Pendleton, OR) 1888-current, 1908-02-03


here Saturday, DR.. Henry w. Coe Of
Portland, purchased what is practi'
cally a half interest In the Furnish ir.
rigation project and 1t Is announced
that henceforth he will have entire
charge of the marketing OF the land.
While the price paid by DR.. Coe
for his share In the big enterprise
has not been made known officially,
II is stated upon good authority TO
have been s125, 900. the total value OF
the project being s25o,0oO.
That he and associates have sold
nearly a half interest in the project
to DR.. Coe was stated by w. J. Fur
nish in an interview with the East
Oregonian this afternoon. The trade
includes a heavy interest in the In
land Irrigation company and also in
the Furnish Ditch company, the
ditch corporation which Is owned by
the former concern.
Or. Coe, himself, was In the city
Saturday for the purpose OF closing
the transaction, and he was accom-
panied by his agent. r. r. Wood. who
is still here. According to those in
terested the sale made has been un-
der contemplation for many months
and everything connected with the
deal was thoroughly worked out be-
fore 1t was made. Preparations for
placing the land upon the market
have already been started by DR..
Coe and the work of settling the
tract will be taken up Immediately.
1t Is expected to have 40 or so fam
lilies upon the project by fall.
Under the terms of the deal with
DIR. Coe he will have the work Of col
onizing the land under the project,
while Mr.. Furnish and associates will
conduct the work of reclamation. The
main ditch. which provides flood
water for. the land in the project, is
20 miles long and while there are
two main laterals, one five and one
hahn miles long and the other four
and half miles in length. The
bitches have now been in use for
year and all leaks, breaks or other de-
fects have been overcome. During
the past season water was used upon
about 500 acres of the project and
the results We're splendid. Every
thing Is now in condition for settle
ment excepting that all of the laterals
have not yet been constructed.
Up to this time Mr. Furnish and
In tha
company have devoted all their en-
ergies to the construction work of the |
project, The utmost care and eau
tion has been taken so as to ensure
the success Of the project when once
opened and practically no effort has
been made to sell any OF the land |
under the ditch.
Now the project is declared In read
mess for settlement and the work of
selling the land will be taken up in
earnest under the direction of Or.
Coe. The land will be sold out most
ly In small tracts of, say 80 or 40
acres, and time will be allowed pur-
chasers. The prices charged for land
under the ditch will vary according to
location, but theprice per acre wiltI
be in the vicinity of 800. To each
purchaser will be given stock In the
Furnish Ditch company, one share of
stock for each acre purchased There
are as many shares of stock In the
ditch company as acres under the
project so that as the land is sold the
control of the ditch passes to the
land owners.
According to Mr.. Wood, who will
be associated with DR.. Coe In the
general work Of settling the project.
agents will at once be placed at work
In the states OF the middle west. In
addition sales offices will be conduct
ed at Portland and Echo. The fur
nish people will still maintain an Of
flee here in the basement of the Saw
ings Bank building, but It will be for
the operating end Of the project only.