The San Francisco call., 1897-07-18
Immense Crops of Grain and
Wool Reported From
All Sections.
Mortgages Being Wiped Out and
the Money-Lsnder Is Driven
to Distraction.

tiuuinS, ana that Inc prospect OF us ln-
crease throughout the year is exceedingly
bright. At the Office Of the Union Pacific,
Denver and Gulf and Fort Worth and
Denver companies, J. W. Jennings said:
Our advices from Texas show that
there is re remarkable crop Of grain in that
State. The wheatfields, vastly larger than
ever before. are yielding % bushels to the
acre, and oattields IS bushels to The acre.
AS yet the movement of grain Is sight
the farmers holding onto their PRODUCTS
in the hope of getting higher prices. The
movement will come soon, however, and
the railroads will reap their share OF pros
perity. Almost equally promising is the
cotton crop. Hardly a Western man
comes in here but dilates on the great i'm
provement in conditions and prospects on
the other side of the Mi sssippi."
"The outlook in Kansas" sail an Off
cia of the Missouri Pacific Railroad Com
pany, sis better than for the last five
years. The corn crop will reach nearly
100000 bushels, according to ali ac
counts. A great crop OF wheat through
out the West will direct traffic and busi-
ness 10 that part Of the country and will
disp.l the Populistic craze. The railroad
companies are highly encouraged and |
hear that many OF them are ordering roll
ing stock in order to be pre- epared to haul
the great traffic in sight.
1--WE shall probably add to our own
equipment. The starting point of this
reYiv.ng prosperity has been the splendid
crops, but it has received Invaluable aid
from the victory of s1und money last
fal.."
Similar statements were made by repre-
sentatives Of numerous other Western
roads.
BISMARCK, N. D., July 17-Inquiry
among leading agents of loan companies
develops the fact that few applicants for
farm loans exist in comparison with for
mer years. and hundreds OF farm NOR
CAGES have been paid recently. The
exact reduction of the mortgage
debt of the State would be impos-
sib!e to ascertain without inve, ,tiga-
lion of the records Of each county, but
The aggregate decrease of the debt will be
large. This improvement has come about
through more scientific farming, greater
attention to diversltcation of pro ducts
and extension of the stock industry.
The latter has assumed larger proper
tions among small farmers in the last lew
years than ever before. Applications tor
hundreds of new brands have been filed
with the Secretary of State. The advance
in the price of wool has been worth hun
dreds OF thousands of dollars to the State,
and nearly every farmer has q flock OF
sheep and receives part OF the benefit. A
new law allows the State Bolrl of School
Lands, which has the custody of the 81 ,000,
900 perm anent school fund, 10 make loans
on farm lands at very low interest, and it
has MOI yet had an application for a loan
from any farmer.
HELENA, MoNT., July 1S.-Information
from loan agents and officials of this
county is to the effect that the mortgage
indie btedness is being gradually reduced,
and this process has been going on for
some time. The farming settle men:s are
SO small and widely separated that it is di:-
fcult TO give their condition, although it
is believed to be improving slowly. In
regions where stock. growing is the chief
industry an improvement is decidedly
not BILE.
Three years of plenty have put sheep
and cattle men in prime financial condi-
ton. The advance in wool this year has
been particularly helpful for the sheep
men, who have had two years OF favorable
conditions on the ranges. Copper, gold
and coal mining companies Of the State
are working TO their limit and indeb ebted-
ness is gradually lessening in these
camps. On the whole the conditions of
the State are improved.
DENVER. Colo, July 18.-Colorado has
paid off debts approximating 100000
since the first of the year, and bankers re-
port that there is more money in their
vaults than they can possibly find any
use for.
The First National Bank on The 1st of
the month hal $4,000, 900 on deposit
the greatest in the history OF the institu-
ton, which is the oldest in the State. The
managers say they find less demand for
money than at any time since they en-
barked in business. and that the bank has
simply become place of deposit, owing
10 the prosperous condition of The city
and State, which precludes ready mar
ket for loans.
Never has there been so much money in
the Western country, owing mainly to the
introduction OF feeding. which has super
seded the old-fashioned range system III
livestock raising. Colorado farmers have
embarked heavily in feeding both beef
and sheep, and have taken the place and
profits that formerly accrued 10 the corn.
growers.
lie this city there is great deal of Duild-
ing going Oh through desire TO employ
funds that would otherwise be idle.
Fruit-growers, who have scored one OF
the most successful years in their history,
say they do not want money, as buyers
are all too eager to get their crop to wait
for holders to moveit. New Y ork, Chicago
and St. Louis commission men are max
ing advances that properly belong to Col.
orado banks. T,ey are taking fruit on
the ground, and as the value of that crop
alone is estimated at $6, 0O0, 900, the fact Of
the introduction of outside capital, it may
be seen, Is a serious handicap for local
holders of money.
The mining world is not taking any
money and the bank rate, which has
usually been held in Denver at from 10 to
II per cent, has fallen to and per cent,
with money begging ter emp oyment at
those figures.
DES MONIES, Iowa, July 1S-Invesii-