Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1886-08-23
the vessels wheels, rendering more
difficult the task of the rescuers who
put out from shore to save the drowning
passengers.
DAKOTA SHYL0CKS.
How Loan Agent Feathered his Nest
at the Expense OF the Poor Settlers
"A story Which is not all Fiction.

| announced that he had been ATTENDING
to business very strictly for three o
four years, and that he was then on hi
way to the sea shore for the purpose o
having little recreation, His wife wa
fresh locking, plump young woman
several years his junior. who, besidel
being fashionably dressed, had an ali
of business about her which Is met witt
IN the tair sex more frequently in this
part OF the country than elsewhere.
~ es," the tourist said after setting
himself back III his seat in the smokers
section. I've been attending to busi-
ness mighty close. In fact I've had to.
lam banker. When | came out in
| this country | had about $4,000 clean
! cash. Down where ! came from every
body said $4,000 wasn't enough to put
Ill your eye. 1t might do to buy home
with or get team, but as far as busI-
ness was concerned it was only an ag-
gravation. l had heard something
about Dakota, and made up my mind
that would show some of the smart
men whether $4,000 capital was good
for any thing or not. l went weet along
with the immigrants, set up little
H..
and sat down to await custom.
II put my money out in small sums,
principally, A settler would come in
and ask for $50 or $lO0. | would ask
him what he had Well, he might have
an equity in his land, or he would have
some household furniture, farm machirl-
cry, or horses and wagons. / would let
him have the money, and take o mort
gage on all that he had, deducting nv
interest, at 10, IL and IA per cent in ad-
vance. Plenty of them would want a
little money for month or two months,
and I'd always sock il to these fellows.
I've had $50 for the use of $50 for thirty
days many time. A good many OF
these settlers We're Scnndinavians, and
could not talk to them in their own
language, nor could they speak to me in
mine, but got up printed form which
they could understand, and in that way
we managed to do business very salts
factorlly,
1t requires very clear head and good
Judgment to do u banking business out
here. Particularly is this true In q new
settlement IN the winter time. I've
changed my location three times since
I've been IN Dakota. After township
has been settled for awhile it is not
much good to men in my line. When |
have moved L have always gone to q new
country. The people get along fifst-rate
Tor few months, bus the first winter
fetches them. They have to have money,
and man who stands by ready to help
them is sort of public benefactor. /
nave had at one time and another mort
cages on the stuff owned by several
hundred farmers, sometimes taking
mortgages for sums as small as $40 or
$40. In fact, they are the ones that
pay, as the men who give them are
usually on their last legs and about all
you have to do Is to wait awhile and
then gather in their stuff.
II have come into possession Of some
OF the best farming lands IN Dakota in
this way. A man might get hard up
and come to me for 800 for six months,
When the time was up he would be
worse off thon he was before. and by
stretching the mortgage little would
give him another hundred, the whole
thing to be paid in three months. Then
he might come around aud make poor
mouth, and ask for an extension, and
all that, but you see that wasn't what
L was out there for. My capital wasn't
very large, and had to keep it moving,
1
business. I'd have to take the farm,
La some such cases | have sold it
back to the man at II or Is per cent
me monthly, but he usually gets tired of
that.
Only the other day I was thinking
about how much had made out here,
and how do you suppose | stand? Well
sir, have doubled my money, and l own
ten or twelve of as good farms as there
are in Dakota. They need improving
of course, but the land is all there, you
bet. Have any trouble with the settlers :
| Oh, yes; some, once in while. They
are poor lot, and sometimes they come
| around and beg pretty hard, but you've
| got to shut down. You can't run free
| dispensary and bank at the same time
I'm out here to help those who help
| themselves, do you see? When they get
where they can't do that, why then il
helps me. Every once in u while men il
my business run across down east folks
| who get homesick out here. Then you've
| got snap. Take down-easter who IL
| homesick and poor and discouraged, and
| hell give you his farm for money enough |
to get back east. have only struck two
such cases, but know bankers who hay,
had several. There is nothing like being
around when a little money is needed
/ tell you have seen tine time out her,
when my 81 900 looked like million {,
the majority OF the people.
| "Yes, have had to take good dea
OF Junk in my day, some of 1t stuff tina
| couldn't give away, but l took it jus
the same. 1t wouldn't be business t,
let go OF anything you once got hold OF
Probably the funniest bargain thst eve
made, was the one that brought me TIN
young lady in there, my wife. She wa
out here farming as she calls il
though she didn't know harrow from
feed cutter. She was brave girl
though. She had little money ant
paid for her farm, but she had to go il
debt for the house and machinery
That's where got in NY work. Whel
it came time for her to make paymen
she was short, and SO she came to M
for money. l gave it to her, and took
mortgage on ali her property, real an,
personal. That is the kind of deals
like to make. If you can get one @
those girls for customer you are linbl
to have farm after while dirt cheap
We'll. when the note fell due sh
ccnlan't pay it, and gave her an exten
sion at IL per cent. usually get l5 il
such emergencies, but took pity ol
her. Then that came due, and she ha,
no money, and SO / foreclosed on hel
That made her mad. She wanted &
make compromise, and after while
Datchp2 nm n har0ain with har hr,t n @