United States Congressional serial set Volume 6120

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1912 Excerpt: ...received under this advertisement. Subsequently a cyclone passed over a portion of the reserved land, blowing down a large amount of timber. The blown-down timber was sold to prevent waste, about 4,000,000 feet being thus removed. In the spring of 1910 the pine timber was again estimated and appraised. The amount of pine timber under this estimate was given as 43,178,000 feet, with a value of $216,115. The land and hard wood was not reappraised. On April 25, 1910, the department offered the timber and land for sale. The 70 tracts of the first advertisement were arranged into three groups and offered in these groups. Bids were received from three parties, but the total bid for the three tracts was much lower than the appraised value. All bids were rejected. These timberlands were again offered for sale under date of July 25, 1910, with certain changes in the manner of sale. A single bid was received. This bid covered all three tracts, but was for $75,000 less than the combined appraised value of the land and hardwood as made in 1907 and that of the pine as made in 1910. On June 29, 1911, the department approved regulations offering these lands for sale at public auction. Under these regulations bids could be offered upon each section or portion of section reserved, upon tracts of about three sections each, as grouped in the advertisement, or upon the entire area reserved. At the auction held at Bokhoma October 31, 1911, no bid was received. Subsequently one party made a private offer of $150,000 for the entire tract. This offer was considered inadequate and was not accepted. The act of April 26, 1906, supra, requires that the timberland be sold for cash. This requires a purchaser to make a large cash payment a long period in advance of the time when ne can r...