The morning call., 1894-09-09
HOLD YOUR LAND.
Western Farms Will Be Worth HaV-
iup in a Few Wears

During the last year a great many persons
have come into possession of Western farm
properties through foreclosures, says the United
States Investor AS the presen owners to
large degree, are residents of the East, their
only desire is TO rid themselves of these hold
ings as soon as possible. A word OF caution to
such persons may not be out Of place Real
estate values in the West are greatly depressed
as a result OF last years panic. In many loeali-
ties it is difficult to find purchasers at any cost.
Now there is reason To suppose that Eastern
holders Of Western lands may be deceived by
snarpers, making use of this very state of
affairs. These lands are worth something TO.
day, and later on they Will be worth great
deal more. 1t all depends on the ability of the
present holders TO carry them until times i'm
prove.
The danger is that certain parties with long
purses ana long heads Will magnify the un-
favorable side OF the situation for the purpose
of frightening tImid investors Into throwing
over their western lands at merely nominal
prices. A word Of caution to holders of western
farm lands is timely for number of reasons.
In the first place, there Is every reason 10 be-
lieve that the worst that can be aDprehehded in
connection with the western situation has been
fully discounted III the drop in real estat prices
which has already taken place. Owners of
land should be on their guard against any aud
all attempts to convlnc- them that prices will
go lower The chances are that values will en-
hance rather than deDreciate. IN some lOcdll-
Ties there Is already reported TO be a better
demand for farm properties. Prices are bound
TO be low for several years, but, there is good
reason 10 believ~, with an upward tendency.
The financial depression in the United States
will undoubtedly keep immigration down to a
low point for a considerable period. The fact,
however must ever be kept in mind that this
country is the center toward which the popula-
tion OF the whole world is tending Coming
years, therefore, must inevitably witness a
strong demand for farm lands 10 the United
States. In this connection it is well TO bear IN
mind that about all the good Government land
has been disposed of and that farms are not
going to be obtained as cheap In the future as
In the past, other things being equal.
A great deal is being said at this time regard
ing the sharp competition which the American
the result OF the opening up OF new agricul-
be safely said. however. tha' in the long
run this country wilt be able 10 hold its own.
Temporarily. the American agrIculturist may
experience hardship. IL may even be admitted
that prices OF cereals will permanently remain
on low level. The situation will adjust itself
IN time. and IL the farmer is Obliged 10 take
lower prices for his wheat and corn lie will OBJ
tain whatever commodities and services he
may require at cOrreSpondinrly reduced rates.
1t Is idle 10 attempt 10 demonstrate
that America is about to take a second
place as the great food producing
country of the world This fact should be Kept
In mind by holders OF western farm lands.
Whatever may be the status Of their invest
ments to-day, lJ can safely be asserted that five
years hence will witness prices considerably in
excess of those now Obtainable.