Section 49
SEC. 49. The lots in any such town site thus established and subject to sale, shall, after the approval and recording the plat of subdivision as above provided, and after due advertisement, be sold at public auction to the highest bidder; but no bid shall be accepted, in case of appraised lots, if the bid does not equal two-thirds of the appraised value, and in the case of lots not appraised the bid shall not be accepted if in the judgment of the. Chief of the Bureau of Public Lands and the Secretary of the Interior the bid is an inadequate price for the lot.