[Letter from T. L. James to D. W. Kempner, March 28, 1949] Page: 1 of 4

                                
INTER-OFFICE LETTER

FOR MR. D- W. KEMPNER

DATE

March 28, 1949

SUBJECT  Maps

11.47 500 43075

Dear Mr. Dan:
The three maps enclosed with your letter of March 26 are
really too small to do much with and I have, therefore, had Pirtle
prepare a large scale map right up-to-date and am enclosing it
herewith and feel sure you will find it self-explanatory. The three
prints sent with your letter are returned herewith as you may want
to retain them in your file.

1
(L

We have two tracts for sale, both on the Prairie, north of
the Houston Highway. One tract comprises approximately 1820 acres
and the other contains 420 acres, and both are shown on the enclosed
map.
As you know, we first understood that Mr. Askew, the present
prospect, would take approximately one-half, or 900 acres, of the
1820 acre tract, bounded by Stiles Lane on the East and Eldridge     a$
Road on the West at $150.00 per acre with a 3/32nd royalty reser
vation, however, on his visit last Friday, it developed that he
wanted only 500 to 600 acres of the large tract, which, roughly,
would be between the north line of the 155 acre strip along the
S.P. and the black pencil line across the large tract, which
would take in all the trees and brush and nearly all of the
pasture land. While I feel that $150.00 per acre for any Prairie '
land is a good price, at the same time, selling this small tract
out of the total of 1820 acres would definitely be taking by far
the best land and I just believe it would be a mistake to sell
it right now. Of course, if he would take around 900 arres at
this price, or possibly a little less, then I think we could
take our chances on selling off the balance of approximately
900 acres.

After developing the above on last Friday, I showed Mr. Askew
the tract of 420 acres, just north of the townsite and south of
the 702.44 Leopold Meyer tract. I indicated to him that this
could probably be bought for $150.00 per acre, 3/32nd royalty
reservation, and the same restrictions as on the big tract on
the east. He seemed to be very much impressed with this tract
and said it was just about the size he wanted and that off-hand
he believed that he would take either tract we wanted to let
him have for $150.00 per acre, but would like to make a closer
inspection of the 420 acre tract, and I have an appointment
ith him for 1 o'clock tomorrow afternoon for this purpose.
Since we have definitely decided to sell the 420 acres, I feel
it would be an excellent sale on this basis. I am not so sure
we can get $150.00 per acre net, but the real estate agent has
agreed to handle the sale for $5.00 per acre instead of the
usual 5% which would figure $7.50 per acre.

- --

.01