The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1890-08-21
FARM MORTGAGES.

The EAGLE quite agrees with the Kan
sas CITY Gazette, that part of the results
of the late census will be of more general
interest than the statistics which have
been gathered regarding farm mort
cages. These statistics will be especially
! valuable to the west, and TO investors
making western loans. The returns will
| not show any comparative statements,
unfortunately, so it cannot be positively
told Just how great the increase or de-
crease the last few years has been.
There have, however, been compilations
showing the actual figures from official
sources in many districts. While such
statistics are not complete, they show
that the present current is certainly in
the direction of reduction of mortgage
debts The register of deeds of Cloud
county is reported as saying that there
are five mortgages being paid off to every
three that are put on. In Rice county,
the number of releases are reported far
in excess of the number Of new mort
cages. The register of Butler county
announces that the releases Of
farm mortgages for the first SIX
months of the year will eX-
coed by $4,000 the new mortgages
filed. The records Of Labette county
show that the mortgage Indebtedness Of
the county has been growing less this
year, the ratio given by the recorder for
June being 112 releases against only A
new mortgages recorded. Elk county
reports the proportion Of releases to new
mortgages nearly three to one. And
there is no sort of doubt that many
other counties in the state that will
make lust as good showing. We might
again refer to the withdrawal of the
Lombard Mortgage company from this
state as corroborative evidence OF these
facts
The Chicago Credit Review speaks of
tbs matter as follows:
"Some eastern papers have of late
printed narrowing tales regarding the
condition of the western farmer, partIcu-
Iarlv in Kansas and Nebraska, and have
related how the mortgages We're about
the only crop that grew every year with
ont failure Much of this talk has been
simply bunCOmbe, manufactured for
special purposes the writers themselves
probably not believing the statements,
but there have been some honest writers
who have been drawing pictures OF the
distressing condition of the Westernfarm-
ers around what they believed was an
outline of facts.
1T is too early yet to know just what
the census returns will show, but there
is no doubt whatever but they will show
that a great deal Of sympathy has been
wasted on the western farmers. The
farmers Of Kansas and Nebraska are
very long wav indeed from being ham
pered and weighted down by first and
second mortgages after the manner that
these lugubriOIls writers have reported.
There is excellent authority forthe state
ment that farm mortgages have IN the
last year decreased, instead of growing
larger. 1t was a year OF abundant crops,
and the result is to be seen in long lists
Of Cancelled mortgages at the recorders
Office The census returns are likely, IN
the first place to show that the total IN
debtedness has been nothing like what
the loose estimates of some financial
writers have placed it at. One may III
this way go all about the state and find
everywhere evidence of intelligent pros
perity, which is rapidly wiping out the
debt of the new section of country to
the old. Western farmers are rather III
a position to be envied by the eastern
farmer instead of being pitied by the
eastern capitalist