Courier Democrat. (Langdon, N.D.) 1891-1920, 1902-11-27
WESTERN LANE VALUES.

Estate Speculation Has Reached 1T
Height.
In the report of Henry Clews & Co.
If Wall, street last week, it was stated
that the country from the Atlantic to
the Pacific, is undergoing one OF the
most extraordinary real estate booms
that have ever been witnessed, differ
ing from its predecessors only In the
fact that, thus far, is has been more
substantial than they. The report also
states that it is evident that building
about reaching point beyond the
requirements of even our marvellous
growth. 1t is intimated that the top Is
about reached, for the present at least,
and the path of safety now lies in re-
trenchment.
But is this true of the portion of the
Northwest of which North Dakota Is
part? Has the wave of real estate
prosperity that has flowed over the
state during the last few years reached
it's highest point? Has the time for
retrenchment come? These are Ques-
lions of good deal of importance In
the state. A real estate man express
es substantially the following views on
the subject:
ut is true that there has been re-
markable increase in land values IN
North Dakota during the past few
years. There are few that, three years
ago, would have thought it probable
that farmers would be holding their
land at present prices in 1902. Take
it generally, and it is fair to state that
land is about double in price what 1t
was in 1897. During the past few
years, while the crops of the Red River
valley have not been the most favor
able, not anything like what the farm
ers have expected, though there has
been no failure land has steadily in
creased in value. But there has been
no boom. 1t has been the natural in
crease due to the settling of the coun-
try and to the fact that the value OF
l the land is being better recognized.
But the price of farm land in the val
ley is not phenomenal, by any means.
1t does not approach its real value,
measured by it's productive capacity as
thus far developed. When compared
with land values of the Middle West,
land in the valley is very cheap. 1t is
so recognized by the many farmers of
7 Iowa, Illinois, Wisconsin and Southern
Minnesota, who are daily purchasing
] rich farms in all the valley counties.
When the value of the crops produced
, annually upon the farms is taken into
consideration, it will be seen by any
fair minded man that there is no over
uo 1,y1t hot
i fact. Considering the facilities for
: marketing the crops, which, in the val
. ley, are equal to, and some say superb
e or to what they are in Iowa, the prices
). of land in the valley are yet low, they
q are not boom prices, and valley land is
J bound to increase in price until it at
tains it's proper value, measured, as is
:. the land of the Middle West, upon its
, productive capacity.
But outside of the valley the increase
in the price of land has been even
5 more remarkable. The western part
of the state has been filling up pretty
rapidly with settlers from the Middle
6 West. During the past few years it is
S not eXaggeration to say that from 25,-
900 to 10000 people have found homes
G in the state annually. The reports OF
l. the United States land Offices not only
bear out this statement. but indicate
j. that, during the past year, fully $4,000
!. people found homes in North Dakota,
attracted by the opportunities for bet
tering their condition financially. 1t
. may be that, in many cases, higher
i values have been placed upon land
than conditions would warrant But
y during the past few years there have
T. been fairly good crops all over the
western part of the state, in the Sec
.. lions where farming has been the vo-
il cation of the settler. Wether condi-
lions have been more favorable than
c for years previc"s. Perhaps crops
e have been better than may be expected
in the future. But who can tell? But
!. even in the western portion Of the
=. state land values are not extravagant.
They have more than doubled in the
past two years. but then, in 1899 and
, 1900 it must be remembered that land
. values in the West were ridiculously
low. in view of the crops that have
G been produced in that section since
g The immigration Of the past few years
has had more to do with the increase
y in land values in North Dakota, taking
y. also into consideration the excellent
crops, than the advertisements of real
\ estate agents. The increase in values
4 is based upon facts. ON conditions, and
not upon speculation. But everything
goes to show that immigration next
:, year will be greater than ever, and
with such healthy demand for land
is there any good reason why values
'. should not continue to rise? If the
q state does not possess the advantages
which its citizens believe it does, per
d haps a reaction may come; but the in
l. dications do not point in that direction
at present"
is ----------