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upr000180-132
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Mr. E. <3. Renwlefc #4 of Section 31 Is fairly good property for water . purposes bat the 8W quarter of this section, own­ed by F. 0. Splane, is, we believe, much better water-bearing land. I have secured from Mr. Splane a verbal 10-day option on this parcel at s60 per aore with an approximate area of 160 acres which would make the price #9*600. * *1 discussed this proposal with fir. Strong, who Joins me in recommending authority to purchase the Bplane parcel at the price quoted, and the ac­quisition of this acreage is In accordance with Hr. R. £}. Greene*s report. This will not only give us addition drilling land, but will also pre­vent sale of It to others who sight seriously draingf our present holdings « # and on October 21 wired Mr. Jeffers as follows *My letter Oct l?th and phone conversation with Mr. Higdon: Splane this morning withdrew his verbal optical of .$60 per aore for SW quarter Section 31, and my further inspection of ground this morning indicates without question we should instead acquire Southeast quarter Section 31 own­ed by Pile# and associates. The latter is unquestion­ably in pronounced, water ledge and is recommended la Geologist Greene*s report Oct. 9, 1939, Item Ro-5 and Map 6.* "Previously Pike would sot split his 320 acres on Charleston, but In conference on ground this morning he has agreed to do so and we are offered , - the Southeast quarter of Section 31 at |80 per acre, . which 1 recommend for Immediate purchase. Am ask­ing Mr. Strong to advise you direct his concurrence.w "Suggest no further consideration b# given purchase of Splane acreage mentioned ay letter Cot. 17th.« Following receipt of authorization contained In Mr. Jeffers* J-194 ©f October 30, 1941, purchase was concluded pursuant to agreement OLD 3871 dated October 30, 1940 with Messrs. Pike, Mefcianse, and Cr&gin for sum of #6063,SO. I have been unable to locate any correspondence In Mr. Bracken’s flies concerning purchase of the Hlnman property in November 1937. W. H*. Johnson