Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-28
AS OTHERS SEE Us.
Impressions OF an Englishman Who Re :
Gently Visited the Southwest.
Vast Uniavelopad Wealth Only Awaiting Cap
ftal AMI Labnr-Capitai Not Equal
to the Opportunities.
nottingham Eng EXPRESS.

Mr.. Duncan r. Basdeu, of the firm of
Mellors Basden, OF Nottingham, who
has just returned from a visit to the
States, has been good enough TO furnish
US with the following interesting account
of the impressions received by him DUR
ing his tour. This involved journey
of eleven thousand miles, on land, most
Of which, as will be observed from the
narrative, was taken to the Western
states OF the Union:
The objects OF the journey were-O)
To compare the impressions formed with
those which my senior partner, Mr..
I Robert MellorS, received during SIM
liar journey last year; CD to note the
. changes and developments since that
time; and % to inspect fresh districts.
/ These annual journeys are deemed
. necessary becauee We have recommended
many of our clients TO join lis in the pur-
chase OF land adjoining growing Western
cities. where the capital is rapidly alb
sorbed in increasing trade, and where
large profits are obtanabie by those who
can afford TO temporarily lock up money
tn Elm pure base OF real property.
1t is sometimes assumed in this country
| that any such operations "a could be con-
| Quoted with safety aud profit would be
undertaken by capt. lists at New York
/ or other Eastern cities. The Western
states, however, constitute too vast II
I country to be readily satisfied. English
men often overlook the fact that New
| York is not half way from Liverpool to
many part. of the extreme West, and
that the immigration into the United
| States kas long m Irf.b in Of
1000 persons every day throughout the
year. The Eastern and British capital
| supplied so far has not diminished nut
| promoted the demand by leading to the
| establishment Of new industries which
give rise 10 increasing demand for addi-
tonal capital aud labor for EXTENSION
and DEVELOPMENT. The demand for
money is shown by the fact that at u
prosperous city Ike Denver the rate of
interest charged by bankers is 10 per
cent. per .aunum. For more than 1000
| miles north, south and west neither nv
partner nor discovered anv lower rates
of banking charge, nor do believe they
exist. On the contray / found bank
rates for secured loaus ranging from |,
IA, = 10 per cent. per month.
METHOD OF OBSERVATION-DISCLOSURES AID
PROSPECTS.
Our real estate investments have been
made with the advice and cooperation
of local representatives in whose intrg-
ritv and judgment we have thorough
confidence. We always suggest to our
clients that they should make their
dependent inquiries through business
acquaintances in the states, or through
their own bankers. These inquiries gem
orally involve no cost. and in any case
the amount need only be tritling.
During the twelve months prior to nv
leaving for the states Gin August lasD,
we sent over 10 our representatives tn
Chamberin investment company, of
Denver, COL, for investment in the pur-
chase of specific real properties, particu-
lars of which we had carefully consid-
cred, aud on first mortgages about
$3.50 900.
Mr.. II. B. Chamberlln, the president
of the company. assured me that his
company had made no investment for a
client which had failed TO return IA lucra-
tive profit. aud our own information and
that received ut interviews, and through
corresponds fully harmonic with |
this.
Experience has shown that money !
carefully invested may be expected 10 |
double III amount III three to five years. |
L lUuuN uhlly lusiduCts WDeTe, through |
the extension of Il street car system, or o |
fire having removed inferior adjoining |
premises, or through Il special town ex-
tension, sales of property had occurred |
at more than double the amounts paid |
within twelve months before.
Mr.. Basden here gives US three exam
pies of such improvement, purpOsely Sc
lected from places probably u thousand
miles apart
These cases are not intended to Illus
trate what an investor may expect to
secure, but to show that the estimate
given Is not based upon specially rapid
growths of value. Extremely rapid
growths of property usually occur in
towns that are "booming, and which
are best avoided 1T such periods.
" Booming is IN expression used in re-
lation 10 places, prosperous or not. where
excessive speculation has been promoted
by advertising, etc, and false values
are reached. There are few prosperous
Western towns which do not at some
time feel the effect of u tboom. - Ac-
cordngly. when investing in real prop
erty over a considerable period time, II is
necessary TO be familiar with these local
conditions, and with entirely different
parts of the Western states, 80 that when
toWhs uit uuttttt 10 Dt |
avoided. ones field of operations may
not be perreptibiy curtaied.
7 his is one of the reasons WIN we have |
sought TO make ourselves acquainted
with the principal growing Western
towns US far as the Pac iio coast, from
Washington state adjoining the Canadian
border on the north, to Texas adjoining
the Gulf of Mexico on the south (27OO
miles across) in both of which states we
are interested.
KANSAS AND COLORADO.
The first Western state to " hich | give
attention was Kansas Most of its area
is arid land. Kansas City has grown
rapidly but neither the city nor the state
are selected by us for any real estate
business.
Passing west to Colorado one continues
10 ind on the eastern side the same kind
of ard land as extends over thre-- tfths
of the state Of Kansas. The conditions,
however. are dissi,nilar. This barren-'
looking land in both states is not sterile.
1t Is unfrul.ful III consequence of the alb
sence or rainfall. When watered il pro-
duces probably the finest crops in the
states The Rocky mountains, many of
whose SUBMITS are GENERALLY lost in |