The herald-advance. (Milbank, S.D.) 1890-1922, 1903-04-24
Penniless at the Start.

A~Vergaard, a Dane, came to Turner
'ouhty I"enty-SlX years ago without a
cent he earned enough by manual
laDor to buy a quarter section, which
he made pay for itself. He has been
dolng this same thing ever since, and
no" ne owns absolutely unincumbered
lO5 quarter sections, well improved
worth an average of 5000. He is
still buying land.
Eugene HOlcOmb of Rapid City owes
his start to the fact that he was cred
tied 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, S. D., had already many cattle on
the range, Now he is rated at from
$4,000 to 81 ,00O, 900, made without a
cent to start On.
{. w. Hyde of Pierre, S. D., has been
handling farm property and cattle for
sixteen years. Three years ago, when
he was going into a company, an exam
ination by credit men resulted in an
estimate Of 5000, 900 over all liabili-
ties.
Rich Men of VermiIlion.
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 $500, 900 to 81 ,000, 900. Thomp-
sons business associate, d. NJ. Inman,
went to Vermillion worth 800, 900 sew
enteen years ago. Profits in cattle
and land have now made this figure
$4,000.
The VermilliOn firm of Lee & Prem
tiss, ranch, cattle and land men, is
considered worth 81, 500, 600. A. E.
Lee, VIC was b"ICc SoNtl uOl VI SOull
Dakota, was a salesman in a 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 it was
worth from $3.50 to s., and much of
this could now be sold for $62.50. 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, 600 to $3.50 900 and have made all
they have out of cattle or land.
The state has prospered with its citi-
zens. The entire state debt, bonded
and floating. is but $500, 900. Within
q year there was a million dollars in
the school fund hunting investment at
5 per cent. In the town of Hurley,
having a population Of 500, there is
one bank which sent 10000 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 q 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 6~00-pound
class can be bought for S22. Alter
feeding two seasons on the range
these will sell at s42 to s45, and have
sold as high as $4S. This figure re-
mains after d~educting the cost of the
land and the interest On the money In
vested. Cattlemen figure that a bunch
of $1,000 cattle should yield $40 profit
a head if they are anything like well
selected animals.