St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-05
LOANS ON 1--WE STOCK
A Line in Mortgages That Is
in Need Of Develop
ment.
How the Live Stock TT ade
Can Be Materially In
creased.
Bankers Needed to Come to
the Assistance Of Cattle
Men.
What Is Being Done by Capt.
talists in Other
States.

In developing the live stock features
Of farming in the Northwest. bankers
and capitalists should have better un-
destanding of the advantages which the
owners of 100 to 640-acre tracts possess
in Minnesota and the Dakotas. For IN
stance, the grasses of these districts are
of such qualities that cattle fatten on
them without the expense of handling
corn or other coarse feed, an expense
that is large item in fattening cattle in
Missouri, Nebraska and in other South
ern districts. These Northern men,
working what are called small farms,
are able to take excellent care of their
heIds. They have this great advantage
over the feeders of the Southwest, IN
being able to fatten cattle without much
expense, and they can sell beef cattle for
lower prices than their Southern breth-
rem and still come out far ahead
on the seasons competition. Ihey
can even compete with the Montana
rangemen because they are so much
nearer to the principal beef markets.
Not many years ago Iowa was supposed
TO be of little value for cattle raising.
1t is now one of the great live stock
states of the West.
Bankers and investors need not de-
pend upon the mere purchase OF cattle.
They can loan money on small herds
that are sheltered and cared for, and
will realize larger interest, and they can
have just
As Good Security
as they now have on some other classes
Of property. A line of banking of this
kind is needed to assist the development
of these districts. The capitalists Of
the Twin Cities are scarcely awake to
this necessity. A farmer who is feed
ing cattle can easily obtain funds at
Sioux City, To-, and Omaha, Neb., with
which to buy cattle to be fattened Oh
Iowa and Nebraska farms. One of the
principal bankers of Iowa. A. Simmer,
OF ClarkSVille, has made the bulk or his
fortune i'll lOaning to cattle feeders OF
Iowa and Nebraska. He realized the
necessities of the early development of
live stock business in these two states,
and the advances have been mutually
profitable 10 his customers ard himself,
He has done considerable business Of
this kind in Minnesota. In view of the
fattening qualities of the hay and grass
of these northern districts, the oppor-
tunities for men of means who under
stand the cattle trade to do profitable
and safe banking business up north.
are even better than in the states south
of Minnesota. Chicago men advance
millions of dollars on Montana cattle,
and thus secure most of the Mon
tana cattle trade for their city.
st. Paul bankers, generally speaking,
are not we'll posted concerning this de-
partment. which is so desirable in de-
veloping the cattle business of Northern
Minnesota. The Union Stool Yards
bank, at South St. Paul, is the only one
that appears to understand the situa-
ton, and it has made large percent
age on small capital. Immigration
brings men and money, but when the
money is invested the bankers are often
needed to properly develop the estab-
lished business, and they can help the
development thereof with good profit to
themselves.
NOT Fully Awake.
Talking on this subject, one of the
well-known commission men of the
Union Stock Yards said: "a few st.
St. Paul men, who have interests in
the Northwest, have become fully
awake to the situation and have
placed cattle on equal shares with
farmers of the DakOtas. | have
particularly in mind a farm, Warner
" SterliIZ, who have lumber yards at
many points. They have realized well
on their investments in cattle Oh shares.
Many of those who are interested are
railroad men; operators. agents and
active young settlers, who. seeing the
vast quantities of cheap grass and hay
at their ispoSal-Sufficient to fatten
millions of cattle-conSider the invest
mentS in cattle safer there than in the
southern districts, where the business
is subject to the fluctuations in prices of
Paul understood the situation, and were
as free in advancing to cattlemen as
they are to those in other lines the
Northwestern districts could quickly
double their work of cattle feeding, and
The bankers would handle a great deal
OF IL per cent paper security by good
chattel mortgages.
1t is understood that a stock cattle
rate is made 10y the different railroads
from Sioux City. To-, TO the DakotaS,
while full tariff rates are charged from
ST. Paul to those states. The only way
this discrimination can be accounted for
at present is this, that st. Paul has
given particular attention to commercial
matters and has not insisted upon these
desirable concessions on the stock bust
ness, while Sioux City has given partic-
ular attention to the live stock interests,
and her leading men do all they possibly
can to extend the cattle business OF
their city.
Pond for President.