The Hop Bubble Bursts: Snoqualmie's Famed Ranch Sold at Auction

Sale of the Snoqualmie Hop Ranch.

A most notable sale of valuable ranch property was that conducted by the Haynes-Cowen Company, of this city, on Saturday, January 23, selling to the highest bidder the 1,240-acre Snoqualmie Hop Ranch, more recently known as Meadowbrook Farm, advertised in the last issue of this paper. The sale was made for the receiver of the Meadowbrook Company, J. S. Goldsmith, by order of the court, and the successful bidder was B. J. Blomskog, a large ranch owner residing at Kirkland, and owning the Wilson-Wilkinson ranch, of 640 acres, near Tolt. The court had ordered an upset price of $47,700, which was to cover a mortgage of $35,000 on the ranch and its equipment, interest of about $1,700 and taxes approximating $1,000. The successful bidder was required to pay $10,000 cash and assume the mortgage.

In spite of the inclement weather there was a large crowd present at the bidding. Mr. Blomskog secured the ranch and its entire equipment and all the livestock at $52,800, subject to confirmation by the court. This figure was rather more than the Haynes-Cowen Company and the receiver, Mr. Goldsmith, had been looking for, owing to the fact that the best private bid submitted since June last was but $45,000.

The Snoqualmie hop ranch was one of the best money-making properties in the palmy days of hop raising. It is the largest and best known ranch of its kind in the country, and just before the hop business took such a bad tumble a short time ago it yielded the Hop Growers' Association a clear profit of $63,000 in one year. About this time it was mortgaged, with its crop, to Hippolyte Dutard, of San Francisco, for $165,000. The crash in hop prices left it in the possession of Dutard, but it was later bought by the Meadowbrook Company, of which C. H. Hamilton was the principal stock owner, for less than $50,000. The management was loose and extravagant, and, instead of making money, the property deteriorated and finally went into the hands of the receiver, with $35,000 owing the Dutard estate. This mortgage, as stated, is to be taken care of by the new owner.

Mr. Blomskog's plans are not fully matured, but it is known he intends to give his personal attention to the management of the property. He will turn it into a fine dairy ranch, adding to the stock as many more animals as may be necessary to carry out his plans. He has in the ranch the finest soil to be found anywhere and will be in position to raise a variety of crops for the use of his cows. With good management he should be able to soon get back his purchase money and have a valuable and highly improved property.