In order to raise funds for surveys, canals and o-
ther improvements, a loan of $20,000 was effected, on mort-
gage of a small portion of the property not immediately re-
quired for colonization purposes. This money, together
with first payments on land sales, has all been judiciously
used for the advancement of the property; so that the Es-
tate is infinitely more valuable now than it was three years
ago.

Amongst the improvements the location of the new
Town of Fort Garland must not be overlooked. This new Town
is situated on the Denver and Rio Grande Railroad immediate-
ly north of the old military post, and will probably become
the County seat next autumn. Town lots are being sold here
on the deferred payment plan.

In connection with the sale of agricultural lands
to settlers, water rights are also sold; and from these wa-
ter rights a large revenue will doubtless be obtained. At
present these water rights are sold at $3 an acre. The
ruling price, however, throughout the San Luis Valley is $5;
but inasmuch as the canals of the Company did not cost as
much as is usually the case, it was deemed best to commence
at a low figure and gradually increase the price.

The northwestern boundary of the property has been
substantially fenced with cedar posts and barbed wire for a-
bout thirty miles.

Herewith are the forms of water right and land con-
tracts in use.

In order to raise funds for surveys, canals and other improvements, a loan of $20,000 was effected, on mortgage of a small portion of the property not immediately required for colonization purposes. This money, together with first payments on land sales, has all been judiciously used for the advancement of the property; so that the Estate is infinitely more valuable now than it was three years ago.

Amongst the improvements the location of the new Town of Fort Garland must not be overlooked. This new Town is situated on the Denver and Rio Grande Railroad immediately north of the old military post, and will probably become the County seat next autumn. Town lots are being sold here on the deferred payment plan.

In connection with the sale of agricultural lands to settlers, water rights are also sold; and from these water rights a large revenue will doubtless be obtained. At present these water rights are sold at $3 an acre. The ruling price, however, throughout the San Luis Valley is $5; but inasmuch as the canals of the Company did not cost as much as is usually the case, it was deemed best to commence at a low figure and gradually increase the price.

The northwestern boundary of the property has been substantially fenced with cedar posts and barbed wire for about thirty miles.

Herewith are the forms of water right and land contracts in use.