Arizona republican., 1909-08-12
ELY RANCH SOLD TO
 WELL KNOWN KANSAN
An Unusually Profitable Transaction For Both Gentlemen.

Sims Ely has demonstrated that a
 land speculation in this valley that is
 well worth while. Yesterday he sold
 for $I75 per acre to C. c. Lewis a little
 patch of eighty-one and q half acres
 of land for which he paid $75 per acre
 less than a year ago. And that isn't all. It was such good thing that MT. Ely didn't like to divide it with a stranger and the profit was so big he hardly had the nerve to take what the
 land is really worth, for the adjoining
 property is held at $225 per acre, so he ! hunted up personal friend, who l jumped at the offer of $175 per acre
 and now feels that he can make profit of about $50 per acre any time
 he wants to sell it.
 The property in question Is known
 as the Ely ranch, on the south side of the Tempe road. just this side of the | old ruin under the Maricopa canal. It is as fine garden land as one can find anywhere, well situated for intense cultivation, and therefore is naturally q choice piece of property. This inci- ent is not fairly representative of the average sale that is made in the val ley. That shows on the face of it or
 people would get rich here so fast they would not know what to do with the
 money MT Ely had little good luck
 as well as good judgment in connec-
 ton with his purchase of the land.
 It formerly belonged to the Arizona
 Water company. which had quite a
 large acreage here at the time it sold
 the canal properties to the government.
 The result of that sale was hardly what
 the owners desired, and they were
 somewhat disgusted with their valley
 investments and set price on several tracts which they decided to dispose of and turn into money. Their agent here was instructed how much to take for the land and get it just as soon as he could. This little piece was priced at $75. the same figure asked for other land that does not equal it in value. MT. Ely happened to learn of the land and the price, and, appreciat
 ing the value of the former, he pur- . chased it so quick it almost scared the agent, who had no option in the prem ises, however. It is hardly supposed that the water company appreciated the value of this particular piece of land when it was offered for sale.
 As it has turned out it would have been a good buy if Mir. Ely had paid twice as much for it. though that price would have seemed exorbitant then. perhaps, for valHes generally have ma far all cir The under price which he paid for it. coupled with the advancing values since then has given him a speculative profit and still enabled him to sell it at what is considered a cut rate valuation when the merits Of the Soil and location are considered --- I
 NIT TBwis.S tffe newcomer, Is an old friend of MFs-Ely. their acquaintance having been formed when the latter lived ink Kansas MT. Lewis was at one time private secretary to United States Senator Long of Kansas. He is a young man who has taken up the study of law in connection with his other employments. and who came out here a couple of months ago to look around. seeking place for a perm8- nent location. He has inspected the valley carefully in every way. is de- lighted with conditions and has de cided 10 make this his permanent home He has also acquired quarter section in the vicinity of Mesa and is in a po- sition financially to improve his prop critics as shall seem wise to him. His family is now in Prescott, where he will join them this morning. and after the hot weather is over they will return to Phoenix or somewhere in the valley and proceed to the making of their permanent home here.