The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-08-18
WHY BUY WESTERN LANDS.

1t seems the decline in values of Chi
cago real estate has already made its APP
pearance. The Tribune, commenting
upon it says: 1.-The effect is already seen
in the value of Grand Boulevard prop
erty. Choice corners which a few months
ago were held firmly at $500 foot are
now hawked about at $500, without
finding purchasers. Park frontage on
South Park avenue was not to be had
two months ago under $500 foot; it is
now offered as low as S175. Not till one
of the later effects of the panic is seen
in a multiplication of creditors Judg-
ments, will the full effect On prices OF
| individual necessity in times like these
| be felt" Certainly these figures show
decline which will do for start.
It is admitted that the worst effects
will not be realized till judgment credit
ors begin to offer property for what it
will bring, but taking the percentage of
loss, as above shown at this early day
right in the midst of the great fair which
was the motive powers in raising prices
to their present giddy heights before the
maturity Of even a small proportion of
the notes and mortgages-what may we
expect when the great white stucco city
is left to the owls and bats, and the Fer
ris wheel no longer lifts the awe struck
visitors to the altitude which enables
him to survey at least portion of the
subdivided area in and around
IaI mi mt To
guess at the rate of loss it is safe to say
the aggregate amount is beyond compu
tation. Add to the disappointed hopes,
the mental and financial distress, the
defalcationS and embellishments, which
are the last extremities to which men
resort to save a sinking fortune, and the
picture will be without parallel in our
country's history. During this epoch of
trading in wind and peat bogs the opera
tors and projectors have been totally
blind to all other localities OF any other
form of investment.
The bare mention of western farm
lands in the Chicago market was the
pass word to ridicule. 1t was hazard
Gus to personal safety to hint at posi-
BILE decline i'll Chicago values after the
far was over or to claim comparative |
merit for anything outside of the forty |
mile limit of her labyrinthine subdivis- |
ions. But the decline is now on, and it
has come to stay. Over-sangune oper- |
ators will have time and food for reflec- |
ton, and we trust those who may have |
saved a few dollars from the wreck may |
come down to the simple figures, per-
centages and profits, of investments in |
good western land. There is scarcely a |
township in the eastern two-thirds OF |
Kansas which has not one or more we'll
improved and well-tilled farms owned |
by eastern capitalists, and, almost with
out exception, they are making yearly
additions to their investments. What |
better proof could be had that money
thus invested is safe and productive of
good returns?
Any one familiar with present prices,
and the susceptibilites and certalnties
OF our soil, knows that our lands are
cheap at double current rates, ana in
vestorS as well as well as actual settlers.
Even now there are chances for ex-
changes of good land for so-called
equities in improved Chicago and st.
Louis. Owners should give wide
berth to worlds fair hotels and cheap
John flats with mortgages attached.
The time to buy such property is at the
sheriffs sale, where they will sell for
less than the mortgage.
When the present stringenoy in
money matters is over there will be
millions of idle capital seeking invest
ment. This will be the opportunity for
those wishing to realize on western in
vestments, and they will do well to
await that contingency.