The Daytona daily news. [volume] (Daytona, Fla.) 1903-1926, 1912-12-31
IMPROVEMENT FUND TRUSTEES
ISSUE COMPLETE STATEMENT
ABOUT TURNING OVER LANDS
continued from page one)

1IOQ pdSS OuGJ
ers and should have completed one
half of the work necessary to con
struct the new canal between st.
Augustine and the ST. Johns ril er.
The second deed to be delivered
when that portion of the canal be-
tween st. Augustine and the ST.
Johns river shall have been COM
pleted. The canal company agreed
with the trustees that the company
would cut new canal between St
Augustine and the ST. Johns river
so as to make continuous inland
waterway from Jacksonville to Miami
and in addition thereto, to pay the
trustees the sum of $4,000 in cash
This contract was entered into be-
tween the trustees and the canal com
pany at the time when the canal com
pany had obtained an injunction
against the trustees from selling or
conveying lands claimed by the can
al company, and at time when ther
was considerable dispute between the
trustees and the canal company as
to the quantity of lands which the
latter was entitled to under the acts
of the legislature By this contract
the Broward administration settle
the question of land grants with the
canal company and cancelled and sat
isfied all the claims of the canal com
pany against the state It secured,
from the canal company $50 900 in
cash and a contract for the cornrlet-
ing OF a new canal from ST. Angus
tine to the st. Johns river. 81. ~
In November, 1911. the canal conf
pany, finding that they were short OF
| funds with which to prosecute the
| work, appeared before the trustees,
and requested the trustees to allow
them to, sell certain amount of the
land contained in one Of the escrow
deeds held by Bion H Barnett The
trustees and the canal company ar
rived at an agreement at that time
whereby the canal company were to
be allowed to sell certain lands con
| tanned in said deed at a stipulated
price per acre, the proceeds of the
sale to be held in escrow by the
said Bion H Barnett, to occupy pre-
cisely the same status as the land
in the deed. The money derived from
sale of these lands to be expended
solely upon the canal work under the
direction of, and the bills for the
work to be approved by an engineer
to be designated by the trustees, and
in addition to the above requirements
the trustees exacted Of the canal com
pany that the sum of $4,000 should
be expended in the restoration of
the canal south of Daytona, the agree
ment entered into by the Broward ad
ministration in 1906 requiring no
work to be done upon this portion of
the canal, thereby presumably ac-
cepting this portion of the canal as
being completed.
About one month ago the repre-
sentatives of the canal company
again appeared before the trustees
and requested that the remaining
deed then held in escrow by the FRS
National bank of ST. Augustine-by
mutual agreement this escrow deed
having been transferred from Bion H
Barnett to the First National bank of
st. Augustine-be delivered, the can
| al company claiming that they had
| completed the work on the canal as
called for by the contract of 1906
The trustees thereupons caused an ex-
animation to be made of that Dor
iton of the canal contracted for in
1906, and the engineer Of the trustees
reporting that the work had been COM
pleted with the exception of a slight
amount of work to be done within
a two or three mile strip between the
Mantanzas and Halifax rivers, the
trustees proposed to the canal com
pany, which proposal was accepted,
that in consideration of the canal
company depositing in escrow with
the First National bank of ST. Au-
gustine the sum of SIS, 900 to be u.s.
ed in completing the canal between
st. Augustine and Daytona; and
further placing in escrow the sum of
$4,000 to be expended solely upon