The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-08-06

The testimony of returning business
activity which has been presented by
this paper in the past two months
through a collection of statements of
the press of the country, irrespective Of
party. has attracted much attention
and been received with much satisfac-
ton. So gratifying has this Dresenta.
ton been, and so rapidly do the evil
dences of prosperity accumulate from
every direction, that another series of
statements of very recent date are here
with presented.
THESE statements are all remarkable
ana 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 tie farmers and the
rapldlty with which they are paying
of their mortgages under the better
prices for crops. and the lessons of the
past four years, which have taught
them the Importance of taking the first
opportunity of paying off their debts,
whenever possible. The article, it
Will be seen. covers all sections of the
country, and shows remarkable pros
perity and prompt application thereof
to reduction of Indebtedness, a double
condition on which the farmers of the
country are to be congratulated. Here
is the collection of convincing dispatch
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
i'll great measure to the excellent crops
OF 1876 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 Falouse country, the south
western part of the State, and Skagit
and Whatcom counties, will produce, it
is estimated, at least ne-third more than
eve before, and the first step of the farm
ers Will be to raise the mortgages of their
farms.
The debt of the farmers of Washing
tom said @. E. Villas of the Washington
National Building, Loan and Investment
Association of Washington, twill be de-
creased at least 25 per cent by this years
crop"
X. Z. I4atimer of Dexter, Horton & Co.
says that Il reduction of 25 per cent on
debts for the last three years is a low
hgure. The estimates are that the farm
ers will gain $1O00O,OOO from the crops
of 1897.
Jacob Furth. president of the Seattle
National Bank, says IL great number of
mortgages on farms have been paid off
and he has aavices 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 Walla
was in Seattle a few days ago and said
that Walla Waila had too much idle
money.
E. Cardin of J. Adams & Co. says the
wheat crop will be the largest ever pro-
duced i'll Washington, amounting conser-
yatively to about 1S,O00.OOO bushels. The
farmer will probably get So cents in east
ern Washington and 20 cents at this port
Seattle. owing to the opening of the
Oriental trade, will handle six times as
much grain as ever before. Mr.. Cardin
says there will be better times this fall
than in five years. Last year an east
Washington farmer went to the North
western Bank in Spokane.
lake 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.-Thc 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 on account of
Populist legislation. The late Legislature
passed all act increasing the amount of
property exempt from execution, and abol-
lshing the personal judgment clause in all
mortgages, SO that only the property mort
gagged can be held for money loaned. In
Oregon loan agents are not hindered in
this manner, but they report a very slack
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 rson to former years, and
hundreds of farm mortgages have been
paid recently. The exact reduction of the
lnortgase'l debt of the State would be i'm
possible tc ascertain without investigation
OF the records Of each county, but the ag-
gregatc decrease will be large. This inn
provement has come about through more
scientific farming, greater attention to
divcrsificaticn Of products, and the ex-
tension of the stock industry The latter
has assumed larger proportions among
small farmers in the last few years than
ever before. Applications for hundreds
of new brands have been filed with the
Secretary of State. The raising and ship
ping OF stock is the most profitable occu-
patton of farmers, and not until recently
has it been taken advantage of here.
The advance in the price of wool has
been worth hundreds of thousands Of dol
lars to thc-Stnte, and nearly every farmer
has flock of sheep and receives part of
lhe benefit. The new law allows the Ssate
Board of School Lands, which has the
custody OF $1,O0O,OO0 Of the permanent