The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-06-23
THE FARM LOANS FUTURE.


Chicago Bonds and Mortgages.
The trend Of the stock markets during the
past six months has not been favorable to
the class OF investment that was so eagerly
sought in 1901 and 1902. The .'undigested
securities" have had their effect on the
condition of the market, and there is
growing sentiment in favor OF some other
sort of undertaking than the floating OK
mergers and combines. Ii is this situation
that is bringing the farm loan out of the
semi-eclipse into which il was plunged for
time while the stocks were absorbing the
interest of the investing public. The eie-
ment of security is now being sought. rather
than high interest rate. and the tide OK
money is turning in the direction or securi-
ties based on substantialties.
Among these the farm loan STANDS nrst.
There Is one thing so solid as the SOIL.
While the rain falls and the sun shines IL
will produce, and IL is always there. Inc
security in these times OF emigration 10 the
West while values are increasing and un-
settled sections becoming rarer, Is certain
to be better, the income sure TO be more
unvarying. Millions OF dollars have been
loaned even i'm the risky parts or Kansas
and Nebraska in the past without the loss
of dollar. Those who loaned in the boom
times in the semi-arid belt. IL they had neid
on until to-day, would have recosiped their
losses to a large degree The land was
there, and IL has increased marvelously IN
Ndlue. IL l0lS DC 50, Nlldl SNAIL bt co41 -
the loans in the rich Northwest. the rapidly
developing Pacific coast, the eagerly sought
Oklahoma lands-and indeed throughout the
West where agriculture has its center ana
prosperity is making wonderful recordsE
The day of high interest on farm loans is
past People do not have to pay and ~.
per cent. for money, with rich farm land as
security. In general there are net proceeds
for the investor on the average farm loan
of per cent. But il is secure. IT VIII come
as certainly, IL the local agent understands
his business when he places IL, as the sea-
sons revolve. Indeed, In many parts or the
West so well are the farmers making their
incomes match their needs that often the
else is there a more certain basis Tor such
loan than the farm on which Is hard
working family trying to make Tor itself
home?
The indications are that the farm loan IL
| growing in favor as the investment In land
| is increasing in attractiveness for the IN
| weston The element Of certainty is one
| that has in these days become important.
| and is one that occupies more OF the In
vestor's thoughts than at any time In the
past. The surety portion of savings, the
positive possession Of ones belongings
| they appeal more strongly to-day than at
any time in the business history OF the
| Nation. The farm loan has these elements
| in its favor 1t is one form OF investment
| that with the conditions Of to-day Is not
| likely TO deteriorate We predict that the
| coming decade will see 1t yet more popular,
| and the fact that so long as the new lands
| of the West are to be developed IL VIII
| exist and furnish market for investment
| ADDS to its strength and makes II more de-
| serving of confidence.