The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1907-09-13
Investment is Turning.

The trend of investment is going
to be more in the direction Of real
estate than it has been during the
recent years of the past. or late
real estate Investments everywhere
has been highly profitable. Mean
time the spectators in stocks have
been heavy losers. "a burned child
breads the fire." and for that reason
the collapse OF some former real
estate booms discredited real estate
investment for many years.
But while this was going on the
fiction of imaginary value vas
creeping into railway and industrial
stocks and diverted very largely
the money of the country into that
line of employment-call it either
gambling or Investment as you will,
or as the nature of the transactions
indicate. The margin buying is al
ways gambling -but the buying and
receiving Of actual stock is invest
mont. But either way, the collapse
came-and h%enceforth money Will
be more generally invested in city
and farm property.
And the price of real estate is
going to mount skyward-perhaps
not in an hour, but steadily and
surely. 1t will be admitted that The
Telegram has been at least fortunate
in its predictions. We cannot now
recall that a single FAILURE of a
Telegram prediction has taken
place-and we have never been alb
solute certain of our predictions as
we are that the selling value Of real
estate not only in Superior, but
everywhere, is going to rise rapidly.
In our own city everything points
to an enormous rise-and the same
is true OF the tributary farm lands.
The growth of the cities around the
head OF Lake Superior adds to the
value of the adjacent farm and dairy
lands in a ratio commensurate with
the growth. ~-erefore let us not
be depressed because Wall street,
alone in it's grief, mourns and re-
fuses to be comforted. 1t is a sor-
row comparable in bitterness only
to that Of the faro dealer after a
police raid has left his crooked
Layout" idle, with no buyers for
his chips.
Meantime news of good crops,
mercantile activity and content
comes from every quarter. The
treasury plan of deposits at inter
walls in the various large commercial
centers meets with the approval of
all business men, who forsee that it
will cause a relaxation of the alleged
%stringency instead of the Tightening
usual during the crop-moving period.
One Of the best opponents Of the
gambling sentiment of Wall street
makes this pronouncement: IF in
any quarter it has been supposed
that the rally in the market follow
ing the delivery of the presidents
speech at Provincetown indicated
that wall street was satisfied with
the u~tterances of the executive, NO
greater mistake could well have been
made"
That is true. But no one has
made that mistake. Difficult as it
is for men who measure prosperity
by the ups and downs of stock ex-
change chalk-marks to believe, there
would be less content in the rest
of the country if there were more
satisfaction in Wall street.
Nor will the mistake be made of
Imagining that the administration
plan to supply the monetary needs
of legitimate commerce will tighten
the Wall street gloom. What does
the satisfactory handling of six bill
liohs worth of products of the soil.
without distress to merchants and
manufacturers, amount to in Wall
streets eyes, when there are such
sad tidings as this: "a commission
house with a large and influential
clientele reports that its loans are
now smaller than at any time in
fifteen years; and another house,
which at times in the past had loans
in excess of $40, 900. 900, is today
borrowing not more than about ono
tenth Of that amount
Time money fs IN demand ana