The Lamar register. [volume] (Lamar, Colo.) 1889-1952, 1915-07-07
BIG RANCH DEAL
ID. II. Bane Trades y Y Ranch for
Los Angeles Business Block


ifornia for some time, has just com
pleted one of the largest land deals
ever made in this section. He traded
his fine ranch property east of Ora
NADIA consisting of nearly 5000 acres
OF irrigated land and some valuable
water lands in the south part Of the
county amounting to several hundred
acres more for the 80 year lease on
the Black office building in Los An
geles.
The trade will probably mean the
removal of Mr.. Bane to Los Angeles
as he will most likely take personal
charge of the big property there. He
has been one Of the big boosters at
Lamar, and served as president and
director of the Commercial Club in
its most pushing work several years
ago. The milk condensery was his pet
scheme and more than any one man
he was responsible for inducing the
Helvetia company TO come here. He
purchased the X Y ranch, one of the
Oldest ranches in the valley, from the
Fred Harvey estate about twelve years
ago and since that time has been a
resident of the county and most Of the
time of Lamar.
The following article from the Los
Angeles Tribune of July End gives the
details of the deal:
An interstate realty deal involving
nearly S2,OOO,OOO in Colorado ranch
and Los Angeles business property
was consummated yesterday when
Colorado investors took over the Black
building, Fourth and Hill streets. in
exchange for the 5000 X Y ranch
near Lamar, Colorado, known also as
the Fred Harvey ranch.
The deal is declared to be the big
gest land transaction which has taken
place in Colorado in the past 10 years,
and one of the biggest affected in
Los Angeles in recent years. Neither
of the parties involved would state the
exact value of the considerations, but
each of the properties is said to be
worth approximately 100000.
The former owners of the Black
building yesterday received title to
the X Y ranch from the X Y Land &
Irrigation company, which in turn took
title to the Black building. The deal
was affected through F. NJ. Sayre of
the F. NJ. Sayre company of Los An
geles and the d. H. Bane Land COM
pany Of Lamar, Colorado, representing
the Y Y owners.
W. /. Hollingsworth & Co have been
appointed agents and managers Of the
Black building, with instructions to
maintain the present standard of SER
vice and to spare no expense or effort
in making the structure one of the
model office buildings of the Pacific
coast in point of elevator and general
service. The name will not be chang
ed.
d. H. Bane of Lamar, Colorado, is
now in Los Angeles looking after the
interests of the Colorado owners of
the building. The Black building was
the first building erected in this state
under the new ninety-nine year lease
law and the lease with the first ninety
nine-year least recorded under the
law.
The cost of the building was about
$500, 900, the lease running at the rate
of $1,000 per month ground rent for
the entire ninety-nine-year period. On
this account the lease is considered
one Of the most valuable in the city.
The X Y ranch is one Of the best
known ranches in the western part of
the United States. All of its 5000
acres are in a high state Of cultiva-
ton. 1t was formerly the property of
Fred Harvey, late head of the Santa
Fe dining service, and upon it was
raised nearly all the foodstuffs and
supplies for the service. Fred Harvey
at one time had herd of $1,000 cat
tie on the ranch. The land is located
on the Santa Fe main line. A Santa
Fe station called Barton on the ranch
was for fifteen months the western
terminus of the road. The new owners
81 tho ranch plan the early subdivision