Semi-weekly south Kentuckian. [volume] (Hopkinsville, Ky.) 1883-1889, 1885-03-13
A WARNING.
The Stock and Bonds of Cattle Com
panles "a Doubtful Investment.

The Stock and Bonds OF Cattle Com
panles IA Doubtful Investment.
1t is high time the public was warned
against investing money in the stock OF
bonds OF cattle companies. The mort
gage bonds are, when on land outside
OF Texas and off of the Spanish grants,
simply chattel mortgages. If the herd
is frozen or starved to death in biz
zard or succession of blizzards, or sold
out clearly 10 pay interest on the. bonds
and expenses, the security is gone. An.
other thing must be remembered by
would-be investors in these securities
that is, that the men who have been
successful in raising cattle are those
who have learned the business with the
herds. As boys they rode on round
ups; as young men they lole the cattle
trails. They know the business from
top to bottom. No man unacquainted
with the habits of cattle can success.
fully manage herd any more than
the men who left Eastern workbench
es and counters aud went to the
Rocky Mountains could manage silver
mines to profit. Men who propo G
TO trust their money in the hands OF
strangers, to be invested in cattle
ranches, should remember that the
Western men are as sharp, If not sharp
er, than Eastern men, and that their
open, bluff manner concells their reso
lutte determination to have the best OF
the trade or not to trade. They know
the peculiarities of the soil and climate;
they know the value of the range; they
thoroughly understand all the condi-
tons of the case, and if they sell, it is
because they are paid more than the
property is worth. The average West
ern man holds his Eastern brother in
profound contempt. He does not like
his ways, or speech, or clothes. He
considers it to be legitimate to loot
him. Far Western men, who may
deal squarely with each other, neN er
deal squarely with "tenderfoet. -"
Great catte-growing companies have
been in operation on the plains for some
years. The profits the managers of
these companies allege they earn are
very large. Who know, excepting the
active officers of the associations, the
age and sex of the cattle sold 10 pay
these dividends? Personally | do not,
but | have friends who buy feeding cat
tie on thu plains. Last fall thr OF
these men told me that they had bought
two-year-old steers from these compa-
MES, and one told me that he bought
yearlings. If this Is so, and [ see no
reason 10 doubt the truth of their state
ments, as the information was given 10
me in reply to my inquiry as to where /
could buy steers the cheapest, these
z. eat embarrassing companies arr in
lad shape, and TIE losses they will suf-
fer, during this winter of great severity
on tseplains, will probably cause them
to pass d dends in the ne ,r future.
l know of no business on earth that
the managers can as absolutely cl, an
mt as they can a cattle company. A
property worth million dollars can lie
tol5n and not ring left, When raj
road is wrecked. the iron, cars, locomo-
tves and Buildings, thou III mortg lged
remain. A bankrupt mining company
can show hole in the ground for mon
y expended. But cattle COMPANY
can b; cleaned ont so thoroughly thu.
there will not remain properly % the
value of Calls tal en- the ranch.
The bonds and stocks of cattic-grow-
ing companies that ar. Offered for sale
on the market are mighty good thing
to keep out of.-FraEk IFTikcrson, ia n.
T. San.