262 COMMISSION OF CONSERVATION 



5. At a later period a settlement contract was adopted, whereby 

 the purchaser declared he was entering on to the land for settlement 

 and development, and payments were divided into ten equal annual 

 instalments, extending over ten years. This contract further pro- 

 vided that the second should be a payment of interest only, and in 

 the third and following years a payment of principal and interest 

 became due. 



6. In 1909 a crop payment form of contract was adopted, 

 whereby the settler paid one-tenth of the purchase price in cash at 

 the time of purchase. Contract set forth the payments as being due 

 on the ten-year payment plan, but the settler was required to turn over 

 to the company one-half of all crops grown on the land; the amount 

 realized by the company from the crops was then credited to the pay- 

 ment of interest and principal under the contract. The sale of land 

 under the crop payment plan remained in effect until the end of 

 1912. From 1909 to the end of 1912 the following forms of contract 

 were offered : 



For non-settlement, six equal annual payments, with interest 

 at 6 per cent. 



For settlement, crop payment plan, one-tenth cash at time of 

 purchase, balance of payments one-half crop as obtained. Interest 

 on unpaid balance 6 per cent. 



For settlement, payments divided into ten equal annual instal- 

 ments; interest 6 per cent. 



7. In 1913 the sale of lands was confined to actual settlers 

 only. Terms, 20-year payments, one-twentieth at time of purchase, 

 balance divided over nineteen years, with interest at 6 per cent. 

 To settlers who were married and had sufficient equipment and capital 

 to work the land, a loan of $2,000 was made, for improvements, 

 these improvements to consist of a house, barn, fence and a well, 

 to be erected by the company; cost of same to be added to the con- 

 tract and payments made concurrently with the payments due 

 under the purchase of the land. 



8. From 1910 to date the company has, in certain districts, 

 constructed ready made farms, which consist of house, toilet, barn, 

 well and pump, fence, breaking and cultivating 50 to 100 acres, 

 and putting in the crops. These farms were sold to married men who 

 entered into occupation with their families, and who had sufficient 

 capital to carry on farming operations; terms of payments were the 

 same as for the unimproved lands for settlement prevailing at the 

 time of purchase. 



9. In 1914, 1915 and 1916, loan and improved farms were sold 

 on the basis of one-tenth of the purchase price (value of land and im- 

 provements) at time of purchase, interest payment only dueat the 

 end of the second year, and balance of principal divided into eighteen 

 equal annual instalments at end of each year thereafter. 



9. From 1912 to date, settlers who had the necessary buildings 

 for the protection of stock, feed, water and experience, were supplied 

 with cattle, sheep and hogs to the value of $1,000, on lien note. 



