The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-02-27
BIG ELEVATOR
COMING SURE
Wichita People Taking Hold
of Matter in Earnest.
PROFITS ARE ASSURED
Mr.. Howard and Others Out
line Prospects.

| It is about settled that Wichita is going
to have half million bushel grain eleva-
tor. 1t is believed that in addition TO be-
ing important to the business interests of
the city it wiz be very profitable in
vestment for the men who are putting
their money in the enterprise.
Mr.. Nevling is a practical grain man
and he has shown his faith in the favor
able location Of Wichita for big eleva-
tor by putting his own money in it. He
has one of the best new elevators west
of the Mississippi river and when the
steel tanks are added to increase the stor-
age capacity 70 the desired extent it will
be one of the best paying properties in
this city.
Stock yards are snap where there is
stock to handle, and next to them is an
elevator at q point where there is grain
to handle. Outside money is offered to
help along the enterprise, but Mr.. New
ling desires to have the majority Of stock
held here so that the directors can be
kept in the city near the elevator. Quite
a number of wealthy farmers have told
Mr.. Nevling that they desired TO have
some money invested IN the elevator so
that it will be owned by home capital.
II the elevator QaQ Deen enlarged anu
finished before the last harvest, millers
and spectators would have made money
enough after paying storage to have
bought the elevator. Wheat receipts on
such an elevator are splendid securities in
bank. They are better than cattle paper
or almost anything else except govern
ment bonds, because the banks know the
wheat Is behind the receipts and wheat
is always cash at the market price. If
there is any question about 1t 70 the bank
er he can go to the elevator and see that
the wheat is there.
The grain men in this city have been
talking elevators for a long time and they
have pointed out that about three years
out of five an elevator of this kind would
pay for itself in storage fees. One year
perhaps it would be IN wheat, another in
corn and then in oats. People who buy
grain to hold generally make money on it,
but whether they do or not the elevator
company always gets its storage.
When the success of this elevator has
been demonstrated TO the satisfaction of
everybody people Who have no stock in it
will want some of the stock for an invest
ment and when they cannot get il other
elevators viii be built because the grain
is here and it viii continue to be here
and Wichita viii become great market
for milling wheat and that viii bring
more mills.
Some OF the live business men of this
city are able to see the certain success Of
this elevator movement and they have
gotten in on the ground floor. There are
thousands of dollars every year and every
month sent out of this city to buy futures
on grain in Chicago and every man who
buys an option pays the storage in adj
vance in the price of his option. When
the big elevator is completed he can buy
the actual grain instead OF buying wind
and put up his receipts and margin in the
banks of this city. The miners will come
where the wheat is to buy It. and the
Spectator would better save his scalp by
doing the same thing. And they will.