The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-12-23
WHY FARM VALUES HAVE IN
CREASED IN THE SOUTH.

the many good things 1t has done to
advertise the advantages of the South,
has rarely done a better thing than it's
publication of the figures showing the
enormous rise in farm values in the
South. The summary of these fig
ures, showing an increase of a billion
and half of dollars during the past
year, was published in these columns
yesterday The chief cause of the
prosperity of the South is the increase
in the price paid the farmers for cot
ton, for that staple is the main crop
from Virginia to the Rio Grande.
When cotton brought only four and
five cents, the South was in dire pow
erty. Now that cotton is bringing
twelve cents, the South is going for
ward in every way
During the last SIX years the total
value of the cotton crop including
seed, has been $500, 100000, against
100000 for the preceding six
years over the preceding six of over
$1,4O0. 900, 900.
But, as the Record points out, it
is not alone to cotton that the South
owes it's prosperity, but to many and
varied industries. All it's products
have gone up appreciably in price
except tobacco and even in that
trust-controlled product the recent
government control by Japan has
brought about enough competition to
give some help to tobacco growers.
The Stunning up is of great value, but
as additional interest we quote below
the statements of a number of North
Carolina bankers, throwing light upon
the situation in the different sections
of the State, as follows:
Improved Implements.
J. H. Rose, cashier Bank of Ben
son, Benson, n. c.:
''The advance has been coming
steadily for the past five years. 1t is
due to the increased practice farming,
by use of practical implements, and
increased population, together with a
due portion of prosperity among the
farmers. No immigration. Increase
is from so to 100 per ceent"
In Piedmont Carolina.
d. A. Tompkins, president and en-
gineer D.A. Tompkins Company,
Charlotte, N. c.:
1T is my opinion that within the
last twenty years the lands of the
Piedmont region of North Carolina
and South Carolina have increased in
value more than 100 per cent. |
believe that so or so per cent. of this
increase has been within the last five
years.
Natives Appreciate Real Value.
NJ Med. Williams. cashier Bank of
Faison, Faison, n. c.:
I'm this section the advance has
been growing for past three years.
The variety of soils on given area
is so great that almost any crops can
be grown here. Truck shipments be-
gin in February and continue until
August, when cotton, tobacco and me
home consumption crops are ready.
The advance in prices is not from
influx of strangers, but the apprecia-
ton by natives of the real value of
the lands adding to their holdings
when opportunity offers. We will
gladly welcome thrifty strangers that
will aid in further developments. Dur
ing past three years three banks nave
been organized within the county, ag-
gregate deposits 100000, while the
business of the older banks has not
been pulled away. systematic care
and slow marketing of the cotton
crop will greatly aid in the further
advance of the South.
Two Notable Advances.
r. L. Davis, r. l.. Davis & Bros,
general merchants and cotton buyers,
Farmville, n. c.:
There has been a general advance
in farm lands throughout this section,
in many cases the selling value of
farming lands being 800 per cent over
their value of ten years ago. l have
a case in mind where a tract of land
was sold ten years ago for $4,20O
from which the purchaser afterWard
sold $4,000 worth of timber and only
a few days ago consented to accept
$4,000, and when a purchaser APP
peared the offer was refused and the
same party then offered $4,000. which
was also refused. | also recall anoth-
err case where d tract was sold for
S4.25O ten years ago to two persons,
selves. and this week one of the part
les sold his share of the tract for
$3.50. The selling values of land
are 20 to 25 per cent above their
values of one year ago, which is at
tributable to the advance in cotton
above the price of this staple one
year ago. The general appreciation
in the values of land is not attribute
BILE to new settlers coming in. but
almost solely to the advance in farm
product
Banks Have a Plethora of Money.
E. B. Borden, president Bank of
Wayne, Goldsboro. n. c.:
"Real estate in our city has adj
vanced from rs to 100 per cent in
the past year. Farming lands have
advanced from so to 100 per cent.
These conditions are due to the gen.
eral prosperity of orr section ana
to the further fact that our farmers
are investing their surplus earnings
in lands. The, banks here and in the
surrounding section have plethora of
money"
From Renters to Owners.
Paul c. Collins, cashier Bank of
Orange, HillSborO, N c.:
in,