New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1882-08-30
Cattle killionaires.

With the present high prices Of beef,
and the COW literally jumping over the
moon, Wyoming cattle men are reapinq
a rich harvest, and many Of them will
make almost independent fortunes this
summer. The rise has been so rapid
and transfers are made so easily that
large transactions are made every day
in which the buyer does not see a hoof
of his purchase and very likely does not
actually use more than one-half of the
purchase money in tho trade before he
has sold and made an enormous margin
in the deal.
A year ago 4 Laramie plains cattle
man was offered large Utah herd and
ranch for $4,000, which offer was ac-
cepted at the moment, but later reject
ed. Since that the Utah man sold
$45,0 900 worth of the herd, then sold the
ranch for $4,000, afterward put $4,000
more into the bunch and last week sold
it for $4,000. In other words, the
Utah man is to-day ahead over $40, OOO
because his last years offer was not ac-
cepted.
Several years ago one Of the most
prominent cattle men in Wyoming, who
can to-day easily command 81, ZOO, 900
for q cattle trade without impairing his
business, went to Boston to negotiate
loan with Massachusetts capitalists.
He met an old man who knew more
about cent per cent than he did about
Wyoming and Colorado cattle, and be-
gan to talk business. He said that he
was making large profits on his present
investments, and, therefore, he wanted
to put more capital into the business,
very naturally, to increase his income.
Mr.. Moneybags asked what secujty
would be given.
Il would secure the loan by mortgage
on my herd, sir.''
where are your cattle?''
''Some in Wyoming, some in Nebras-
ka and some in Colorado"
"How much land have you under
fence?"
..None."
':How much land do you own?'
'.Not FOOT
onp''
Government land"
''Once . year."
Don't you have herder with
them?''
mo, SIR"
''Well. young man, / would as soon
loan you money on the herring in Bos.
ton harbor.'
A Cheyenne man who don't pretend
to know maverick from q mandamus,
has made neat little margin Of $751;
600 this summer in small transactions
and hasn't seen cow yet that he has
bought and sold. Cheyenne is wild
over the market and Sixteenth street is
young Wall street. Millions are
talked of as lightly as nickels, and all
kinds of people in all professions are
doubling in steers. The Chief Justice
Of the Supreme Court has recently sue.
cumbed to the contagious excitement
and gone to purchase q e4O, 600 herd.
Everywhere the excitement is as bad
as it ever was in mining stocks in the
old palmy days of Comstock. How
long this thing will continue is matter
of pure speculation. Whether the labor
ing classes of the States will eat por-
ter house steaks when they taste like q
government bond, or quit all at once
and knock the bottom out of the Chica-
20 market, no man knows to dead
moral certainty. OF course all is smooth
sailing now, but we doubt the proprie-
y Of fooling with this thing right along
for six months, for one Of these DAYS
buyers will insist on delivery of the
goods and sales cannot be made imme-
diately enough to omit the universal
kerplunk. We may not be using the
correct terms, perhaps, but our meaning
may be readily gathered. Boomerang.