Omaha daily bee., 1888-02-26
Western Securities.

There seems to be q concerned move
ment on the part OF the seaboard press
to prevent the further investment OF
eastern money in western realty. The
fact that spectators have abandoned
Wall street during the past two years
and placed their money in western
realty has caused the stock exchange to
rise in indignant protest against what
they call the town lot craze in the west.
The organs Of Wall street are now busily
engaged in denouncing rs buncO-
steerers the men who point out the
financial advantages resulting from
careful and Legitimate investments in
city property west Of the Missouri river.
Every statistic which can be distorted
to the disadvantage of the west is
paraded in double-leaded characters for
the purpose of preventing further out
flow of money from New York for west
ern investment The local columns are
filed with interviews with bogus trav-
elers who denounce as mushroom
growth the advance OF the country west
of the Missouri, and the editorial
columns bolsterup their correspondents
But for all this, shrewd and wealthy
capitalists, who have reaped a rich
harvest as the result Of their personal
| inspection Of western real estate, de-
cline to take the secondhand opinions
| of the purchased writer's of the eastern
press. Their bank accounts. increased
handsomely by a conservative invest
ment of loanable funds, give the lie to
e
| porous condition of the line of great
cities extending from north and south
along the Missouri are standing COM
mentaries on the falsity of the eastern
press. The annual reports Of the loan
and trnst companies who have found
western investments, properly placed,
the most profitable of all channels in
which their money, has been invested,
disapprove the assertions of the attor-
| neys of Wall street. The annual re-
views of carefully collated statistics pub
lished by cities of one hundred thous-
and and upwards show conclusively the
| solid and substantial foundation upon
which the rise in real estate throughout
the western country has been based. A
| IhNlCuSihS WllolCoolC tIduSs u
phenominal growing industrial pros
perity, tributary country settling up
with active and industrious farmers and
merchants drawing their supplies from
the great distributing points of the west,
J millions of dollars of home money in
vested in substantial and permanent
building improvements, all combine to
| riya tho l1n IN tho nf h
growth which is so persistently foisted
upon the people Of the east from the
paid organs of Wall street.
That there has been speculation in
western realty no one can deny. Specu-
lation is an American characteristic
and is found wherever opportunities for
money getting present themselves. 1t
is present in the most conservative of
manufacturing interests. 1t is found in
the manipulation of the stocks Of the
most substantial corporations, but the
fact that speculation is present does not
invalidate in these cases the sound OPP
portunities for investment which good
properties in either manufacturing or
railroading afford. A wise business
man who brings to the purchase OF
realty or to the loaning of money upon
real estate security the same methods
which he would adopt in his own count t.
ing room has no reason to fear that he
will be made the victim of ''town lot
bunco steerers." Personal investiga
tion. the exercise of common judg
ment~ based upon observation
and the information derived from
others should be the prerequisites in rea
estate investments just as they are il
the conduct of other kinds Of business
The great cities of the west, in which
Omaha includes herself, court the full
est and the most comprehensive inves
} tigatiOn of their status. The value O
reality in these great and growing com
munities of the west is based upon con
ditions which in every other city in tn,
country and in the world has mad,
properly selected real estate the mos
favorable and the most profitable chan
mel for investment for capital. 1t is be
cause the crimes of Wall street hav'
: driven from the stock exchange all con
servative business men that thes
sharks and jObbers are now raising tn
cry that the reason why money n,
longer flows into the Golfers of tn
brokers Is that western town 10
bunco steerers are deceiving and swind
ling the honest and conservative invest
! ors of the east.
COnviCt Imrni irratiou