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Show Drainage Bonds Are Sold At High Record Price Salt Lake Firm Buys Issue of $96,000 at $96.60 -Construction Contract Con-tract Is Awarded. "Within the next ten days or twn weeks active work on the installation of ditches and drains for the Sanpete Drainage District No. 1 will be started start-ed and if nothing unforseen happens to mar the plans mapped out by th promoters of the great project, near ly 4,000 acres of some of the bes lands in the state will be reclaime by the drainage system by early fall During the early days of this weel. the contract for ditching and layinf of drain pipes was awarded and tht sale of the bonds voted at a recen; election were disposed of. The sale of the bonds," amounting to approximately $96,000 of the 115,000 authorized by the lane; owners of the district, was made las' Tuesday evening when two bids were offered. The Palmer Bond & Mortgage Mort-gage company of Solt Lake, and represented rep-resented by C. W. Boyd and R. M Price, were the successful bidders for the issue, offering $96.60. F. H. Hollenbeck, representing John E. Price & Co., of Seattle, Wash., offered offer-ed a bid, but as it was low, it was not considered. The bid of the Palmer Bond & Mortgage company of $96.60 per $100.00, is the record of the state, being the highest price ever paid in Utah for 6 per cent drainage bonds. The contract for construction work n the district was awarded to Mat-hew Mat-hew Baer, of Tremonton, Utah, at a neeting of the officers of the Drainage Drain-age district held last Friday evening. VIr. Baer, head of the Baer Construe-ion Construe-ion company, put his bid in at $97,-'50 $97,-'50 and was within $250 of the engineer's engi-neer's estimate of $97,500. ( Mr. Baer announced that it would e his intention to assemble his team ditchers and other parapher-aalia parapher-aalia prepartory to shipping them to lunnison within the next week or so '.nd just as soon as conditions will lermit a large force of men will be itarted to work and the big task of reclaiming a vast acreage that has ieen waterlogged by waste irrigation will begin and brought to a high -late of cultivation and incidentally increased in value more than twofold. two-fold. Mr. Baer thinks that by the coming fall the entire tract will be complete and ready for cultivation. |