The Minneapolis journal., 1903-04-18
BIG FORTUNES IN SOUTH DAKOTA

For fifteen years he has been buying land
in the eastern part of the state. He sold
only what was necessary for his expenses,
holding the rest for advances Land
that seemed altogether unpromising when
he began buying has become richly fruit:
full. So it happens that Mr.. Smiths
wealth is estima ted by bankers at from
s1,500, 600 to $1,000, 900. -, :. -
? - PennlIess at the Start. !,&> 80
.Avergaard, a Dane, came to Turner
county twenty-six years ago. without a
cent. He earned enough by manual labor
to buy a quarter Section which he made
pay for itself. He has been doing|:tIis
same thing ever since and now he owns
absolutely unincumbered 1O5 quarter sec
.tions. we'll improved, worth an average
Of $4,000. He is still buying land.
:, Eugene *Holcomb of Rapid City owes
his start to- the fact that he was credited
almost entirely for a bunch, of cattle, when
he first went to Rapid City nineteen wears
ago. He has had a constantly increas ing
herd on the ranges ever since and is now
rated millionaire. ~
n boy ran away from Utica, N. Y, in
the seventies. 1t was a number Of years
before his family found out his where
abouts.S Then it was reported to them
Ethat& Corbin Morris, Of Rapid City, S. D.,
had already, many cattle on the range.
Now he is rated at from $500, 900 to 81, ,000,-
&c. w. Hyde Of Pierre, IS. D., has4been
handling farm property and cattle for six
teen years. Three years ago, when he was
going into company, an examination
by credit men resulted in an estimate of
s600,OO over: all liabilities: 3; ~- -
is: Rich Men of>VermIIIion. r
"A small, unpretentious store was started
in Vermillion twenty three years ago by
M D. Thompson. All the profits of the
J...
sis, was put into land. and cattle. Mr..
Thompson has since dealt in cattle, land
lumb Der and farm machinery, and is rated
| from $780, 900 to 81, 900, 900. Thompson s
business associate, D. M. Inman,. went to
kYermillion worth 100000 seventeen years
tago. Profits in cattle and land have now
| made this figure $3.50, 900. :. ,e...-.
The Vernnilion firm Of Lee & Prentiss.
ranch, cattle and land men, is considered
worth $1.5o0000. A. e. Lee who was
twice governor. Of South Dakota, was a
| salesman in a, store at Ma Olson, Wis, be-
| fore he bought land and cattle. Prentiss
had been a bookkeeper. Now. they own
,*robably. the largest general store in South
Dakota. They began to buy land when it
| was worth from $3.50 to S., and much of
| this could now be- sold for $62. 5O.f.7 The
| firm has $4,000 acres in South Dakota" and
Nebraska and feed on: corn 2 900 to- 8 900
cattle annually, beside, keeping an equal
number on their Nebraska ranCh.
There are not less than 100 other men
| in the state who are worth from 100000
ITO $250,0O0. and have made all they have
out Of cattle or land. Z: e -
| The state has prospered with its citi-
Ezens.c The entire state debt, bonded and
] floating is but $800,O00. Within year
there was million dollars in the school
| fund hunting investment at 5 per cent.
In the town of Hurley, having a popula-
ton Of 800, there: is one bank which sent
$60,000 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
j fall there was not a bank lin the state
which needed outside assistance.
I Money stlII to Be. Made.
/ There is still big money in the cattle
j business, Yearlings Of the 900 pound
class can be bought for s22 After feed
/ ing two seasons on the range these will
i sell net at 4s42 to $45 and have sold. as
4 highsas $48: This figure TeIaains after de-
4 ducting the cost of esland and the inter.
est on the. money investeA Cattle mer
i figure that a bunch Of I,666 Ga tile should
i yield $40 profit a head if fsthey- are anythine
IKE we'll selected animal IS: = 4 :