Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1903-04-23
PenniIess at the Start.


Avergaard, a Dane. came to Turner
county twenty-six years ago without a
cent. he earned enough by manual
laoor TO buy quarter section, which
ne made pay for itself He has been
DONG this same thing ever since. and
now he owns absolutely unincumbered
loo quarter sections, well improved,
worth an average of $4,000. He is
still buying land. ...
Eugene Holeomb of Rapid City owes
MS start to the fact that he was cred
lted almost entirely for a bunch of cat
Tie When he first went to Rapid City
nineteen years ago. He has had a
constantly increasing herd on the
ranges ever since, and is now rated a
millionaire.
A boy ran away from Utica, N. Y,
In the seventies. 1t was a number OF
years before his family found out his
whereabouts. Then it was reported
to them that Corbin Morris of Rapid
City, 5. d., had already many cattle on
the range. Now he is rated at from
100000 to s1,000,0O0 made without
cent to start on.
c. w. Hyde of Pierre, S. D., has been
handling farm property and cattle for
sixteen years. Three years ago, when
he was going into company, an exam.
nation by credit men resulted in an
estimate of 100000 over all liabili-
ties.
Rich Men Of Vermillion.
A small, unpretentious store was
started in Vermillion twenty-three
years ago by M. d. Thompson. All
the profits of the business, started
largely upon a credit basis, was put
into land and cattle. Mr.. Thompson
has since dealt in cattle, land, lumber
and farm machinery, and is rated at
from 100000 to $1000,000. Thomp-
sons business associate, D. M. Inman,
went to Vermillion worth 100000 sew
enteen years ago. Profits in cattle
and land have now made this figure
$750,000.
The Vermillion firm of Lee & Prem
tiss, ranch, cattle and land men, is
considered worth $1,50O,000. A. e.
Lee, who was twice governor of South
Dakota, was a salesman in store at
Madison, Wis, before he bought land
and cattle. Prentiss had been a book
keeper. Now they own probably the
largest general store in South Dakota.
They began to buy land when 1t was
worth from $3.50 to IS, and much Of
this could now be sold for $3.50. The
firm has 10000 acres in South Dakota
and Nebraska, and feed on corn 1000
to 5000 cattle annually, besides keep
ing an equal number on their Nebraska
ranch,
There are not less than 100 other
men in the state who are worth from
500 900 to $250.000 and have made all
they have out of cattle or land.
The state has prospered with it's citi-
Gems, The entire state debt, bonded
and floating, is but 100000. Within
a year there was a million dollars in
the school fund hunting investment at
s per cent. In the town OF Hurley,
having a population of 500, there is
one bank which sent 100000 to New
York in order to put it out at interest.
Until last year money has been called
into the state to move the crops in the
fall. but it is stated that last fall there
was not bank in the state that need
ed outside assistance.
Money Still to Be Made.
There is still money in the cattle
business. Yearlings of the Compound
class can be bought for $22. After
feeding two seasons on the range
these will sell at $42 to $45, and have
sold as high as $4S. This figure re-
mains after deducting the cost OF the
land and the interest on the money IN
vested. Cattlemen figure that bunch
of 81 900 cattle should yield $40 profit
a head If they are anything like well
selected animals.