Omaha daily bee., 1897-11-30

They Say Times Are Good and the
Fnrmers Arc Now ProspcrOus.

Farmers Are Now Prosperous.
SIOUX CITY, Ia, Nov. 29.-(Special.)-A
grelt deal of interest has been shown among
bankers in Iowa in regard to reports from
the bankers published in an eastern bank
ers magazine showing the condition Of bust
ness in the state this fall. The bankers gen.
orally report times greatly Improved and
business good in all lires. The farmers are
plying off old mortgages and In many cases
making new loans in order to deal heavier in
live stock or to purchase new land. James
T.. Toy OF the Farmers Loan and Trust COM
pany of this city, having branch banks In
thirty towns of Iowa and Nebraska, sid in
response to inquiries: Conditions have un-
dergOne a wonderful change in Sioux City
and the surrounding country during the past
twelve months. Our deposits have steadily
increased, and a larger share of obligations
have been taken up There is q good demand
for money on Iowa farm loans. Only recently
we placed $4,000 for eastern parties at per
cent. ! have watched the growth of our state
since the early days, and in point of devel-
opments of her wonderful natural resources
and the steady advancement in values in
farm lands / think she can compare most
| favorably with any other state in the union.
| and | consider nothing safer for those who
| have funds to invest than our farm mort
| cages"
This corresponds nearly with the general
| reports. plSnlGr McCOEHllCh vi tue iON't
! State National of this city reported that he
| had noted good increase in deposits within
| the last six months and loans have shown q
| proportional advance The manager OF the
| Clearing House association here reported an
increase of clearings of from 10 to 100 PEI
| cent
p. L. Wech of the Bank of Denison re-
| ports: 81 have noted an increase of 20 per
| cent in our deposits since last spring. Our
| bank makes special feature of Iowa fafm
| loans, and we handle $4,000 per month III
| this line acting for eastern investors. Gus
toners of this bank have lately shown de-
| cided inclination to reduce their loans quite
a good deal of money has been advanced TO
| the cattle feeders in this section and our
! farmers are at present busy in the corn
| fields. Merchants of Denison report good
| tride, considerably in excess of last year
| We have more eastern capital thah we Gan
| lend at per cent"
| Henry Haag Of the City Bank Of Jefferson
reports: Il have noted quite material in
| crease in our deposits and good many lolhs
have been paid off We have been Lending
| our funds very freely to cattle feeders, VINO
have invested largely in TINS section we
are in the midst of the great corn belt, aiso
raise cattle and hogs. Very little Wheat
raised and/this is poor quality.
| The cashier of the Citizens Bank at west
Side reports falling off in loans me
customers showing a desire to cancer thell thel
|
is for cattle feeders. The cashier OF the
First National bank at Woodbine reports
that deposits average 100000 ahead of last
wear and loans $4,000 to $4,000 larger.
Farmers have made considerable reduction
in their loans and merchants are enjoying a
good trade their sales averaging 30 per cent
more than at this time last year. The de-
posits of the Citizens State bank at Glidden
have increased 25 per cent in the last ninety
days. and loans about the same. The bank
is supplying the farmers with more funds to
engage in cattle feeding than last year. The
assistant cashier of the Mapleton bank says
that farmers seem anxious to clear up their
obligations and the merchants report de-
cided increase in their usual business over
last year There is no disputing the fact,
he says "that good times are reality with
us. and l think confidence has been fully
restored among our people" The cashier OF
the City bank at Ogden reports: "Our de-
posits have shown quite an Improvement IN
the last six months-perhaps one-thrd more
Loans about the same, with an in
clination on the part of our customers TO
pay off their debts. We have no hesitancy
! in lending our funds to cattle feeders, and
have quite a good amount with them at
present" Reports from many other bankers
of the state simply continue the story here
given.