The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1897-11-04
The WIND.
The Farmers Of Mile Laos County Are
Paying off Their Debts in
Large Lumps.
One Firm Alone Received $4,000 Last
rlonth on Notes Taken When
noney Was Scarce.

aeol VI luCo Iuul lily OuO pdSU cdI
the ne UNION. spoken of the prosperity
Wh1lch was promised. This season sees
the full fruition of it's hopes. Nature
has been lavish with her favors and
the sturdy farmer upon whom falls the
burden ride of providing food for the city
jewellers is being paid amply for his
labors. There can be no prosperity
without prosperous farmers and the
latter we have this year. ~ -&
Monday the editor had occasion to
visit the register of deeds Office and
while there CLEANED few figures from
the records. Some knowledge of the
volume Of business may be gained
when it is known that for the ten
months already past of 1897 there have
been 6S3 transfers of interests in real
estate in Mile Laos county. This
means, of course, large increase in
the agricultural population of the
county and shows that the people Of
less favored localities are leaving their
old homes for the new and better
homesteads our county affords Never
before has such wave of immi grafton
struck the county and the newcomers
are OF a better class than those who
usually enter new territory. They are
for the most part well-to-do citizens
who have sold their farms because the
land had become too valuable for prof
table farming and have brought with
them proceeds to invest i'm our lands
and aid in their Improvement
But the signs of prosperity do not
end in this reading of the records.
Within the past ten months there have
been forty-one satisfactions of mort
cages filed, a large part of this num-
Der having come to the registers Of
flee since the crop began to move.
The mortgages for the most part
represent purchase. money and shows
that the forty-one parties have now a
clear title to their holdings. The
.aiho unt Of money represented by these
cancelled mortgages is no small sum.
The total of the considerations as
shown by the records is $14, 1858. 43,
showing an average debt cancellation
of nearly $1,000 per month. No won
der business has received new i'm
petus and money is plenty. The farm
ers are happy in the thought of the
release and every one of them is at
work with renewed hope, knowing that
what comes to them now is their own.
The payment of real estate mort
cages, however, is but a drop in the
bucket. During the season Of low
prices the farmers in some sections
were crippled financially and were
forced to obtain credit for the neces-
sary farm machinery, groceries, cloth
ing and other supplies. These gave
notes and one firm during the past
month has received $4,000 on these
notes as its share of the collections.
Other firms have collected in proper
tion to the credits allowed and every
business man reports that there is a
growing disposition on the part of the
farmers to take up their paper before
it comes due. The Bank of Cambridg &c
is in a quandary It's business was
chiefly with the farmers and the loans
made are being cancelled so rapidly
that the officers find more money on
hand now than they can proftably
handle. E - .#.....
New settlers coming to Mile Laos
county purchased tracts of lands on
contract requiring annual payments.
These payments are being promptly
met and in many cases paid in ad-
vance. S. S. Peterson, of the Citi-
zens State Bank, said to reporter
Tuesday that while some loans were
being made secured by mortgages it
was not an indication that the borrow
ers were pinched. In almost every in
stance the amounts borrowed were
used to make payments on land con-
tracts due in 1898, 1899 and 1900. The
land purchasers were anxious to OBJ
tain titles to their holdings and took
this method to do it. This was prac-
tically the only avenue left for the
eastern investment seeker to place his
money.
Surely natures horn OF plenty was
completely inverted when Mile Laos
county was reached this year.