Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-10-21

This great growth II due TO two causes, 1
first. the location OF the packing interests
here. giving for the seller Of his stock a
ready market. and, secondly. with the large
increase in the corn acreage in the sur
rounding country, q large demand has
arisen for what are called feeders" that
IT, lean cattle from the stock ranches which
can be fattened for market upon the corn
which the farmers think more profitable 70
feed than to sell The farmers throughout
the country place their orders with a GER
tain stock firm for 90 many cattle, hogs
and sheep OF a certain breed and when
these come into the yards the broker will
buy and send them out to his client who in
turn will feed them for season and then
return them to the packing houses.
Fight for q Grain Market.
As a grain center also Omaha has taken
high rank The grain market here IL only
| two and one-half years old, and yet its
receipts were In the first eleven months of
its existence in 1904 16, 2s6 bushels, in
1906 over s5,00oooo and for the first six
months of the present year almost 100000
bushels. When one considers that the
city has Chicago, st. Louis and Minneapolis
fighting for their lives to move the grain
from the country about Omaha direct
to the east, and Kansas City itself COM
petlng TO carry the bulk of the grain from
Nebraska, Kansas etc., to the gulf. we
can appreciate the struggle It took for
Omaha to get its wedge in as a grain
market. That II did, however, Is but an
other Indication of fs complete rehsbilita-
ton of business and enterprise.
with this short sketch Of the progress
of the city in industry and commerce let
us turn to real estate and banking. 1
| ho, % he nf htitId-
ing in the business sections of the city.
In 1905 the records show that the real
estate transfers amounted to s7,065,174.
and for the first FIVE months of this year
the transfers have amounted to $685.
ss1, as against s2,75o.827 for the corre-
spending period last year. In building.
| the permits last year amounted to s4,3S7 =
4s4 and this year for the FIRST six months
are already s2,l71 ,o05, as against Sl,l7e,-
| SOC for the same period OF last year.
From the figures given by the building
inspector find that during the entire
year there were erected It's buildings, of
which Sal were residences and OF the
latter 500 we're frame and thirty-nine
brick, and both together cost u,298,
$40. The increase in building in the city
can be fairly well realized when we COM
pare the building permits for the last
three years. In 1908 the figures were
sl,o72,s57; in 1904, s2.05l,93O, and in
1905, s4,Ss74 64 showing that in 50 short
a period there has been a doubling of
building every year.
Local Capital swingiBg Enterprises.
peculiar feature OF the building opera
lions here lie that they are being carried
on largely by local capital. In the retail
and wholesale sections the large, now
| hutldiuOa ara hafnO conatrticted eithaF nv
the firms out of their own surplus earn
ings or by private individuals Of the
city os an investment through leases Il
the large jobbing houses. And was told
that even the largest buildings are not
heavily mortgaged, and in case Of heavy
mortgages the loans were made by local
companies at low rates of interest.
Both in the business and residential sec
lions the demand is far greater than the
supply. l was shown by six or seven rea
estate men, upon whom called, lists of ap
plications from people outside of the city
seeking locations for their businesses anc
homes for themselves and family and
was told that hundreds Of such application.
could not be filled for months ahead.
In financial circles the same healthy con
dition of affairs is shown. In bank clear
ings the figures show that in 1906 they
amounted to s442s556s5,15 while for tn,
first six months of this year the figures
were $500. 537.O4, as against $2i1 1855, ss6.6
for the corresponding period of last year
thus showing an increase of $S6, 4OS5 II
bank deposits the figures on June IS Of THU
, year were sS7, ~, 62411 as against s32.46s
$3.50, showing an increase of nearly 5000
900, which for town the size of Omaha il
a very creditable showing indeed.
The reports OF the building and loan as
sociations are of the same color. In tn,
city there are several such organization
with total assets of $4,000. and was in
formed by several of the officials in then
i that the business within the last six month";
! alone has increased about 20 per cent. Tht
} investments of such companies is very
largely concerned with the building o.
homes for the people of the city, and M
doubt the large proportion of the buildinl
{ of residences in the city, 5h out of tota
number OF $50 buildings of all kinds erected
last year, is directly attributable to tn,
I facility with which money can be borrowed
at reasonable rates from such organiza
tions The officers Of both the banks anC
, Of the loan associations told me that tn,
, condition OF the farmers has been so pros
porous within the last few years that thed
: former good security In first mortgages OF
; farm lands had entirely disappeared, will
I the result that they have had to seek II
the cities security. and upon this thei
rates OF profit were much lower.
; The Country Behind II.
The great cause OF the prosperous condi
lions within the city OF Omaha is of cours,
: the remarkable prosperity which abound
IN the country about it, and particularly IL
: the state of Nebraska. The agriculture
territory OF the state naturally divides IL
self into three PARASITIC eastern or corr
belt. which extends about $50 or IT'S mile
westward to the country around Grant
Island; the middle, stretch of countrl
, running the whole length OF the state
north and south, about 100 miles in width
which. under modern methods of farming
is already in a high state OF cultivation
and the extreme western third OF the state
which viii probably never be ut for any
thing but the grazing Of cattle.
In the eastern and middle sections, con
ditions are most prosperous, indeed Ian,
about 200 miles west of Omaha which 10,
: years ago could be bought for $40 an acn
= is today selling for so and s6o, and man,
!. are renting land in that section for SIS
= an acre and yet are making a good living
was very careful to inquire as 70 wha
g effect another crop failure would hava ,,noa