Waterbury evening Democrat., 1903-07-20
FARM LOANS FUTURE
Growing in Favor and Security as
 Form of Investment.
Day of High Interest Is Past and the Element of Certainty Brings Ready Cash to Those Work
 ing for a Home.

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 ''undigested securities" have had their effect on the condition of the market. and there is a growing senti- ment in favor of some other sort of un- dertaking than the floating of mergers and combines. It is this situation that is bringing the farm loan out of the semi-eclfpse into which it 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 gages. @
 Among these the farm loan stands first. There is no one thing so 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, x. Millions of dollars have been loaned even in the risky pa of Kansas and Nebraska in the past out the loss of dollar. Those wi aned in the boom times in the semi; belt, if they had held on until to-day would have recouped their losses to a large degree. The land was there, and it has increased marvelously in value. If 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 it's center and prosperity is making wonderful records?
 The day of high interest on farm loans is past. People do not have to pay eight and ten per cent. for money, with rich farm land as security Tn gen. eral there are net proceeds for the<in vestor on the average farm loan of five per cent. But it is secure. It will come as certainly, if the local agent under
 stands his business when he places it, as the seasons revo1ve. Indeed, in many parts of the west so we'll are the farm CTS making their, incomes match their needs that often the mortgage is lifted before it Is due. Where else is there more certain basis for such loan than the farm on which Is hard-working family trying to make for itself 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 oc- cupies more of the investors thoughts than at any time in the past. The sure- ty portion of savings, the positive pos- session of one's belongfngs-they ap- peal more strongly to-day than at any !ime in the business history of the na- tion. The farm loan has these clements in it's 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 it yet more popular, and the fact that so long as the new lands of the west are to be developed it will exist and furnish a market for. investment adds to it's strength and makes it more deserving of confidence.