Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-09-27
KANSAS REAL ESTATE MORE ACTIVE
THAN FOR YEARS BEFORE.
FARMERS BUYING FOR CASH
BANKS AND LOAN COMPANIES LET
TING GO THEIR HOLDINGS.
Material Evidence of the Prosperity
Tint Has Come to the SunhOwer
State-A Few Examples of
How Kansas Farm
ing Pays.

Topeka, Kas., Sept 26.-(Special) Activity
In the real estate market is one of many
convincing signs of the return of prosperity
in Kansas. During the past two weeks 1t
is estimated that more farms have changed
hands in the state than in any similar
period since the boom. In every county
numerous sales are reported. and the pleas
ing feature is that the property is being
purchased with cash. The people have been
taught some lessons on the evils of mort
cages and they are fighting shy of them.
The banks of Kansas have for years car
ried large amounts of property as assets.
simply because they could not find pur-
chasers for it at anywhere near what it
cost them. The legislature last winter
passed banking law which limited the
amount of real estate banks could hold,
and for a time the serious problem con-
fronted many of the bankers as to what
they could do with their surplus real
estate. The big wheat crop and general
prosperity have solved the question. The
bankers have been able to dispose of nearly
all their surplus real estate holdings at good
figures and this has made the impairment
of their institutions good. But the bank
ers are not the only ones that have sold
property. Many Eastern companies Which
took in vast amounts of property on mort
Bank Commissioner Breidenthal said to-
day that it was remarkable the amount of
farm property that was changing hands.
I'VE need not expect an old-time boom,
said he. I'VE don't want that; but we can
expect to witness a lively market for prop
erty which means that the resources of the
state will be developed more rapidly than
ever"
As a sample of the possibilities open to a
practical farmer, an instance is cited In
Reno county. Henry Hartford went there
about twenty years ago and located on a
quarter section. After he had got it well
improved, fire destroyed all of his buildings.
He now has an 800 acre farm, all paid for,
and it is well improved. During the past
year he has sold $4,000 worth of stock and
still has on hand $50 cattle and 100 hogs
His 40 acres of corn this year will yield
thirty-five bushels to the acre, while he got
81. 100 for his fifty-five acres of wheat.
w. A. Rose. another farmer of Reno
county, in early days did battle against
grasshoppers, chinch bugs. hot winds and
drouths, and to-day owns 800 acre farm
This year he has sold four carloads of fine
cattle raised 1900 bushels of dollar wheat
has fifty head of cattle and 125 head of hogs
almost ready for the market, beside a big
corn crop.
Out at Beloit, the farmers, in addition to
making money with their crops, are also
| swelling their bank accounts by selling
| cream. A local writer says they are receiv.
| ing from $50 to $50 year for the cream
! from each of their cows.
A Geary county agent of an Eastern loaI
| company reports that he has been kept
| busy for the past month receiving money
| for the liquidation of farm mortgages held
| by his company on farms in that county
| None of these mortgages, he says, are due
| for year and some run for three years
| yet. For a while his company was very
| anxious to draw money out of Kansas a:
| fast as it could get hold of 1t, but now ht
| says 1t is ready to send all kinds of money
| back for investment in Kansas securities.
| This remarkable story comes from Eli!
| county: In 1882, the year of the grea
wheat crop in Western Kansas, an ole
Russian farmer purchased 100 acres of land
| agreeing to pay s14 an acre for it. He ha.
! since paid neither interest nor principal
| and the land has been going down in valu,
| until to-day it would not bring more thar
| S. all acre. This year the old farmer raised
| an enormous crop of wheat, and when h,
| had marketed it he went to the mortgage,
| and paid OFF the debt in full. though tn,
latter had never expected anything but al
| opportunity to foreclose and take his LIANT
| back. 1t SO pleased the mortgage that h
| handed the old Russian $400 back in th
| form Of a present.