Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1897-08-14
Unprecedented Showing Of Mortgages Cleared
Off by American Farmers.
Great Democratic Journal Produces Indisputable
Evidence of This Fact.
Newspaper Press Everywhere Continues Testify the
Business Improvement.


this paper in the past two months,
through a collection of statements of
the press of the country, irrespective or
party, has attracted much attention
and been received with much satisfac-
tion. So gratifying has this presenta-
ton been. and so rapidly do the eVt-
dences of prosperity accumulate from
every direction, that another series or
statements of very recent date are here
with presented.
These statements are all remarkable
and striking but none of them is more
so that the lengthy one from the New
York Sun, which has gathered from all
parts of the country information about
the condition of the farmers and the
rapidity with which they are paying
off their mortgages under the better
prices for crops, and the lessons or the
past four years, which have taught
them the Importance of taking the first
opportunity of paying off their debts
whenever possible. The article, II
will be seen. covers all sections of the
country, and shows remarkable pros
perity and prompt application thereof
to reduction of Indebtedness, double
condition on which the farmers of the
country are to be congratulated. Here
Is tue COlectlO0 Oh
es appearing in the Sun:
Seattle, Wash.-For the first time in
several years there is much idle money in
Washington. This state of affairs is due
in great measure to the excellent crops
of 1896 and to the prospects of still better
crops in 1897. All the wheat belts of the
State. including the Big Bend of the Co
lumbia, the Palouse country, the south
western part of the State. and Skagit
Wh1tnOn1 will
is estimated. NJ least one-third more than
ever before, and the first step of the farm
ers will be to raise theAnertgages of their
farms.
THE debt of the farmers of Washing
ton" said c. z. Villas of the Washington
National Building, Loan and Investment
Associa ton of Washington, will be de-
creased at least % per cent by this years
crop"
II. r. I.atmer of Dexter, Horton & Co.
says that a reduction of % per cent on
debts for the last three years is IL low
figure. The estimates are that the farm
ers will gain $10,O0O,O0O from the crops
of 1897.
Jacob Furth, president of the Seattle
National Bank. says great number of
mortgages on farms have been paid off,
and he has advices from the Big Bend
to the effect that this years crop is of the
very best quality. A like condition exists
in the Palouse country.
Levi Ankeny. banker of Walla WaIln
was in Seattle few days ago and said
that Walla WalIa had too much idle
money.
e. Cardin of 7. Adams & Co. saws the
wheat crop will be the largest ever pro-
duced in Washington, amounting conser-
vatively to about 100000 bushels. The
farmer will probably get 55 cents in east
ern Washington and 20 cents at this port.
Oriental trade, will handle six times as
muci. grain as ever before. Mr.. Cardin
says there will be better times this fall
than in five years Last year east
Washington farmer went to the North
western Bank in Spokane.
Take my farm, he said. 81 cannot
pay the mortgage"
The bank not only declined to do so, but
gave him seed wheat. This year he will
clear himself of debt and have snug
balance.
Portland, Ore.-The farmers of Oregon
Washington and Idaho. owing to the
good price of wheat. have been enabled
to pay off most of their mortgages, and
this year will get almost entirely out OF
debt.
In Washington loan agents find their
business greatly restricted account OF
Populist legislation. The late Legislature
passed act increasing the amount OF
property exempt from execution, and nbol
ishing the personal judgment clause in all
mortgages. that only the property mort
gagged can he held for money loaned. In
Oregon loan agents are not hindered in
this manner. but they report u very sIa OK
demand for money at the present time
Bismarck. n: D--Inquiry among lead
ing agents of loan companies develops the
fact that few applicants for farm loans
exist in compa rison to former years md
hundreds of farm mortgages have beer
paid recently. The exact reduction of III.
mortga;ed debt of the State would be i'm
possible tic ascertain without inyestipatio,
OF the records of each county, but the ag
gregate decrease will be large This i'm
proyemelt has come about through NOR,
scientific farming, greater attention +,
diversihcaticn of products, and the on
tension of the stock industry. The latte
has assumed larger proportions anon,
small farmers in the last few years tina
ever before Application for hundred
of new brands have been fled with RI,
Secretary of State. The raising and shin
ping of stock is the most profitable occu
patton of farmers and not until recentJ,
has it been taken advantage of here.
The advance in the price of wool h.
been worth hundreds of thousands or dol
lars to the State. and nearly every far
has flock of sheep and receives part n
the benefit The new law allows the Stat
Board of School Lands, which has III
custody of S1.OOO.OOO of the permanen
school fund. to make loans on farm land