OCR Text |
Show 185 In the absence of sufficient sales date to establish a market price for vermiculite-bearing lands in the Powderhorn area and in view of all available pertinent data regarding the vermiculite-bearing subject lands, the writers appraise these lands at $50.00 per acre as of June 28, 1938. On the basis of this value the total value of the 4,030 acres of vermiculite-bearing subject lands is determined to be $201,500.00 as of June 28, 1938. Sand and Gravel Deposits Summary of Valuation Procedure and Value Sand and gravel are recognized as important natural resources because of their use as concrete aggregate and the large auantities used in general road construction. Extensive deposits of these materials were known to occur on subject lands and it was believed that they represented a substantial value. An engineer was assigned to investigate the various phases of this problem and the resulting appraisal of the sand and gravel deposits made under our supervision is a part of this report as Appendix B, which includes a full account, with production tables, of the investigation. The amount of work Involved proved to be greater than estimated at the time, the investigation was begun and the indicated value of the sand and gravel deposits proved to be far less than had been anticipated. |