Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1906-12-05
Conditions in Hancock.
britt Banker reviews the past half de-
cade and offers some excellent adj
vice to owners of comfortable Iowa
homeS

britt Banker reviews the past half de-
cade and offers some excellent adj
| vice to owners of comfortable Iowa
homes.]
Editor Times Republican: What
ever may have been the results OF the
wild northern land speculations, GER
| tain it is that any speculation in Iowa
| land, particularly northern Iowa land,
has left generally speaking no evil re-
suits. Here and there may be found
farmer who bought more land than
| he needed. but cases in which it has
/ been a positive damage and loss are
very rare indeed.
| During the good times we experience
| ed in 1901 and 1902, the country was
| flooded with money seeking profitable
| investment. The farmer prospered as
| never before during those two years.
His bank account grew, his debts were
paid and he became anxious for more
land Just at this particular time the
northern land boom was at it's height,
and investors who previously bought,
sold at enormous profits and everyone
caught the land fever. Many withdrew
their bank balance and borrowed as
much more as was necessary to make
the first payment on their purchase.
Many mortgaged their Iowa farm to
raise the money to buy a northern
farm and before they had fairly closed
the deal, the bubble burst, the bottom
fell out and the result we all know.
They bought with the intention Of SELL
ing Immediately at a rise, but when
they sought buyer they were surpris-
ed to find no market. Then came
the scramble to let go and those who
were unable to carry the load forfeited
their first payment and were the wiser
for their experience. Others were more
optimistic and hoped for things to
right themselves very soon, and again
others who were able to hang on are
still seeking buyer or trade.
During this period Iowa banks lost
hundreds Of thousands of dollars In
, deposits. practically all of which went
into land speculation, and were called
upon for money as the payments fell
due on these land contracts or pur-
chases. The banks stood the strain
and even yet are loaning money to a
few of these spectators who are able
! to hang on. No embarrassment has
resulted worth mentioning and the
traces of this wild speculation are
practically all gone. Fortunately, but
few in this community bought north
ern land. On the other hand Iowa had
sort of boom by herself and quite
few here invested in Iowa land and
are glad they did so.
While most of them went deeply in
debt in purchasing, money has been
easy and no hardship has resulted. The
northern land Spectator received no
return from mis- land but the Iowa pur-
chaser had an investment that was
even more than self supporting. In
spite Of wet years, the Hancock county
farmer has prospered well, especially
so the past year. A better corn crop
has never been raised in this section
of the state, and there is better feel
ing among our farmers than has been
noticeable for the past five years.
An army of Tiers and many large
ditching machines are constantly at
work in this county, steadily increas-
ing the acreage of good farming land.
Bank deposits are larger than ever be-
fore in the history of the state. Those
| who borrowed heavily from the banks