The Cooperstown courier. (Cooperstown, Griggs Co., N.D.) 1902-1913, 1903-07-30
THE FUTURE OF FARM LOANS.
Popularity Because. Of Increas-
~ .ing Security.

y -. : T.
The trend Of the stock markets dur
ing the past six months has not been
favorable to the class of investment
that was so eagerly sought in 1901 and
1902. The INDICATED securities" have
had their effect on the condition of the
market, and there Is growing senti-
ment in favor of some other sort Of un-
dertaking than the floating of mergers
and combines. It If this situation that
is bringing the farm loan out OF the
semi -eclipse into which 1t was plunged
for time while the stocks were absorb
ing the interest Of the investing public.
The element Of security is now being
sought, rather than high interest rate,
and the tide Of money is turning in the
direction Of securities based on substan-
tialities, says Chicago Bonds and Mort
cages.
Among these the farm loan stands
first. There is no one thing 50 solid as
the soil. While the rain falls and the
sun shines It will produce, and it is al
ways there. The security in these times
of emigration to the west, while values
are increasing and unsettled sections
becoming rarer, is certain to be better,
the income sure to be more unvarying.
Millions Of dollars have been loaned
even in the risky parts of Kansas and
Nebraska in the past without the loss
OF dollar. Those who loaned in the
boom times in the semi-arid belt, II they
had held on until to-day, would have
recodpeds their losses to a large degree,
The land was there, and It has increased
marvelously In value. II this be so,
what shall be said Of the loans in the
rich northwest, the rapidly developing
Pacific coast, the eagerly sought Okla
homa lands and indeed throughout the
west where agriculture has its center
and prosperity = making wonderful
records?
The day Of high interest on farm
loans is past. 3 People do not have to
pay eight and ten per cent. for money,
with rich farm land as security. In gem
eral there are net proceeds for, the In
weston on the average farm loan Of I'VE
per cent. But It IL secure. It will come
as certainly, II the local agent UNDER
stands his business when he places it,
as the seasons revolvs Indeed, in many
parts Of the west 30 we'll are the farm
ers making their incomes match their
needs that often the mortgage is lifted
before it is due. Where else is there q,
more certain basis for such a4loan than
the farm on which is hard-working
family trying to make for itself q home?
The indications are that the farm
loan is growing in favor as the invest
ment in land is increasing in attractive
ness for the investor, The element Of
certainty is one that has in these days
become important, and is one that soc-,
cupies more OF the investors thoughts
than at any time in the past. The sure
ty portion Of savings, the positive pos
session Of ones belongings they ap-
peal more strongly to-day than at any
time In the business history Of the ma
ton. The farm loan has these elements
in its favor. It is one form Of invest
ment 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 1t will exist and furnish q
market for Investment adds to. it's.
strength and makes it more deserving
Of confidence.