The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-13
CLAIM OF BANK
IS in DISPUTE
Continued from First Page.

| fEiE Continued from First Page -
conflict that in what are now heavily
wooded portions of the estate can be
plainly traced the burrows which are
| the evidence that what is now wilder
ness was then arabic land in high
! state Of cultivation. -
The plantation consists Of 1900 acres.
Of this more than half is improved.
The other half is covered largely with
second growth pine, which while it has
no great value for lumber purposes, is
7 useful for plantation improvements and
buildings and is used for fuel There is
also some hardwood on the place and
: some first growth pine. In it's native
state this land is worth from So to $12
: an acre.: It may be we'll to explain
that unlike pine lands in Minnesota
some of the best agricultural lands in
pine: This land is good land. A large
portion of it is a sandy loan containing
mari pebbles which, as they decay, make
an excellent fertilizer.
Good for Cotton and Cane.
The soil on the improved land is of
red clay, admirably suited for the
where is the staple crop of the south.
Sugar cane is also grown on the planta-
ton, tho it is a less certain crop, it
having failed last year thru drought.
Other crops grown are corn, oats and
cow peas, the latter being the great for
age crop of the south and taking the
place Of clover with us as land fer
tilizer.
The prospect on which the company
it looked for it's largest profits, was, it's
peach orchard. There are manv
famous peach orchards in Georgia and
many of the most valuable varieties of
this fruit grown originated there. It
is difficult to estimate the value of
peach orchard for the reason that the
owners uniformly decline to set price
Of ST it's 5,oooacre farm '' the w. De De- Soto Soto
= Fruit, Agricultural & Manufacturing
company set apart 625 acres for peach
orchard and in this in December, 1902,
and, January, 1908, set out 100000
trees, or, as they are termed, "June
buds'' Of the year of 1902.
These are just now coming into bear
ing, but will not be regarded as mature
until the fifth year after their planting.
and will begin to bear some fruit next
season. A Conservative estimate for a
good crop from this orchard after the
trees are fully mature would be any
where from $4,000 to $4,000 net
profit. The company intention has
been to pack and market this fruit for
itself and not to sell the peaches
the smaller orchards. It has excel
lent facilities for doing this, as the
Seaboard Air Line railroad traverses
the farm and the fruit could be loaded
into cars from the orchard.
Cotton Gin and Syrup Plant.
In the meantime the land in which
&. the trees are set out is not lying idle,
cotton being cultivated between the
: trees. The company has indeed never
lost sight Of the fact that in the south
: equipment purchased with the money
advanced by Mr.. Clement has been a
: $40 saw cotton gin with pneumatic
:. apparatus for handling the cotton and
; all the latest improvements.
With the use of this machinery the
company has ginned besides the 230
bales of cotton grown on the plantation
. / season. The company has also set UP
syrup plant, the invention, by the
: way, Of Red Wing man, and duplicate
Of the one now being used at: the Mime
sofa state school for the Predetermined
/ for the manufacture of syrup from sor
T ghum. A sample Of syrup made by this
= mill from southern cane is of excellent
charine matter than ordinary CONNER
cial syrup. It is very clear and OF 6
/ golden tinge. -. =:
Diversifcation It's Motto.
. The idea of the company is to SO di
( versify it's farming operations that there
can be no such thing as general croI
failure. Like every other fruit tree
peaches sometimes fail to bear; last
year the drouth in Georgia ruined thu
sugar cane and cotton is liable to blight
Everybody is familiar with the varia
Y lions Of the yield Of corn and oats, ant
cow peas, like clover, sometimes fail tx
grow. But the De Soto Fruit, Agricul
tural & Manufacturing company. cal
a culated that, taking one year with an
j. other, all it's products should give it :
: good average yield and that this aver
9 age yield should give good DIVIDEND
= The failure Of the First National banl
j. has not changed it's views. 1t hold
! that $15O,OOO would be a conservative
y estimate Of the value of it's propert.
when the section of land it has Sc
!. apart as an orchard gives its norma
=. yield. >-
e Owns Part of Townsite.
81 Besides the agricultural and timbe
Il lands mentioned the company owns tn
II unsold portion Of the TOWNSHIP of tn
+. village of De Soto, which has about Isl
~ Inhabitants. This townsite has beel
~ plated, and some lots have recent,
IS been sold. AS there is railroad sta
y" tion there and as it is in rich agricu]
e tural section Of the state, which is rap
It idly being developed there is no reaso
why it should not grow.
Those Interested in the company az
| pear on the whole to have good reaso
,. for their persistent contention that the
owe nothing to the First National ban
N or to anyone else that they cannot u.
!g timately pay, and that if all the asset
is Of the bank are as good as the bonds o
) the De Sofa Fruit, Agricultural an
Manufacturing company, neither depos