The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1897-08-20
Unprecedented Showing Of Mortgages Cleared
Off by American Farmers
Great Democratic Journal Produces Indisputable
Evidence of This Fact.
Newspaper Press Everywhere Continues to Testify to the
Business Improvement.

The testimony Of returning business
activity which has been presented by
this paper in the past two months,
through 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 presenta-
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 remarka bic
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 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 cOngra tulated. Here
is the collection of convincing dispatch
es appearing in the Sun:
Soottln "aSh How ho -,
several years there is much idle money in
Washington. This state of affairs is due
in a 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
and Whatcom counties. will produce. it
is estimated. at least One-third more than
ever before. and the first step of the farm
ers will be to raise the mortgages of their
farms.
"Ihe debt of the farmers of Washing
ton, said G. e. Villas of the Washington
National Building. Loan and Investment
Association of Washington, will be de-
creased at least % per cent by this years
crop"
r. P. Latimer of Dexter. Horton & Co.
says that a reduction of % per cent on
debts for the last three years is low
hgure. The estimates are that the farm
ers will gain $1O,0O0.0O0 from the crops
Of 1897.
Jacob Furth. president of the Seattle
Naloh'l BANK, says a 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 Walla
was in Seattle few days ago and said
that Walla Walla had too much idle
money.
e. Cardin of J. Adams & Co. SAYS the
wheat crop will be the largest ever pro
duced in Washington. amounting conser
vativeIy to about 1SOOO.OOO bushels. The
farmer will probably get 80 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
MUCK grain as ever before Mr.. Cardin
says there will be better times this fall
than in five years. Last year an east
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 a 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 ont of
debt.
In Washington loan agents find their
business greatly restricted on account of
fopullst legislation. The late Legislature
passed an act increasing the amount of
property exempt from execution, and abol-
lshlng 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
iact th2t few applicants for farm loans
exist in compa risOn to former wears. and
Sdo VI mortgages nave been
paid recently. The exact reduction of the
mortgage'l debt of the State would be i'm
possible tc ascertain without investigation
OF the records of each county, but the az
gregate decrease will be large. This i'm
provement has come about through more
scientific farming. greater attention TO
dlverslhcaticn 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 fled with the
Secretary of State. The raising and shin
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 Thousand of dol
lars to the State. and nearly every farmer
has flock Of sheep and receives part of
The benefit. The new law allows the State
Board of School Lands. which has the
custody of $1.OO0.0OO of the permanent
school fund, to make loans on farm lands