Omaha daily bee., 1908-10-25
TIMELY REAL ESTATE GOSSIP
Surplus Money in Bonds Will Go Into
Property.
FARM LOAN MEN TO ORGANIZE
y. ~. Osborne Makes hIs Suggestion
In Line with General Tendency
of Co-OperntiOn In
Business.

Surplus money in the banks will be
withdrawn and invested In real estate
after election wien conditions become nor
mai" is the prediction Of w. T. Graham,
president OF the Omaha Real Estate ex-
change, az we'll as many other real estate
dealers who are watching the situation
carefully.
1T Is more a matter OF habit that bust
ness stops during a presidential campaign
than Of stern necessity" continued Mr..
Graham. But as a result of this habit
money has piled up IN the banks, loans
have decreased, people have been attempt
ing to get out of debt, and there you have
it-more money in the banks than ever,
interest low and little demand for money"
The conditions described by Mr.. Graham
are confirmed by John Brandt, secretary
OF the Nebraska Savings and Loan as
ISOLATION, who says: Until after election
there is nothing doing in the way of new
business. Deposits continue to come In,
hut money does not go out. There is seem
lngly no demand for 1t and things are At
a stRndstlll. As to the business after cleo
ton, no one can say, except that It looks
good whether Bryan or Taft heads the
national administration
Money will certainly be invested in real
estate. Homes will certainly be erected.
1ho people arc seeking investments other
than bonds and securities and a savings
and loan association offers them the best
Of Investment, secured as all deposits are
by the highest class OF mortgages on city
property"
II H. - A. n-1A-eA p TnWaA
company comments on the Situation thus:
Whatever the outcome Of the election, the
farm mortgage is not going to be affected.
II is one of the securities which makes
its own market. This Is what makes the
business OF the farm loan mortgage men
preferable to that of the loan men who
arc placing money on city property, though
as far as I know at this time there is no
reason why first-clRss city mortgages
should be affected by the possibility of a
change in the national administration
Personally I should like to see the farm
loan men organize. The day of co-opera-
ton in business and social affairs is with
us and the time long ago past when II was
possible for the individual to succeed with
out taking into account the opinion and
efforts OF his neighbors and OF those who
have similar interests in life with himself.
This Is just as true with the farm loan
business as with any other and It will be
only a matter of time when the loan agents
Of the west will have their state and ma
tional organizations with the complete
equipment Of intelligent officers and work.
Ing plans OF operations that will add inn
menssly to the accomplishments of their
industry. II is in no way a disadvantage
end It is in many ways a positive help
to have such associations. and It is some
~nat remarkable that the farm Foan men
ur the west have been so slow to seize
upon their best interests along this line"
During the week the center of interest
has been i'm the farm land business. the
drawing in South Dakota for lands on the
Rosebud reservation eclipses anything
which agents or dealers In city property
could offer.
The conditions. on which the Rosebud
land is offered has apparently made no diff
ference. The seekers after lands have
gone into the Rosebud country, spent good
money to get there. promised TO spend a
large sum II they draw a number which
they think will give them a good piece OF
land and considered themselves lucky. Ac-
cording to the best authorities In Omaha
lands are waiting under the general home
stead law in both North and South Da-
kota the appearance of men or women
who will file on it and meet fewer re-
quirements than those imposed on the
lucky IN the Rosebud drawing. For So per
o. acre, the ultimate price which will be paid
by the lucky the average Omaha dealer
In farm lands can show a real homeseeker
a stretch of South Dakota, North Dakota
or Nebraska land which will make the
Rosebud Indian reservation look like a
desert in need of moisture.
For proof that western land" is a term
which signifies fixed value now. Mr.. Os-
borne cites an experience: "In 1896 / made
a trip to Holdrege, Neb.." he says. AT
that fine It was a thriving village in
Phelps county. surrounded with a good
farming country and lands selling at that
time at $40 TO $50 per acre. MY next stop
over on this trip was at Eustis, a small
and thrifty village In Frontier county
where land values average about $40 pei
acre in the vicinity. My next stopover was
al Holyoke. this side of Cheyenne aud
that place was a small railroad town sur
rounded by apparently god level lands
used solely by cattlemen for grazing pur-
poses. The changes are quite a surprise
] have recently been over this land and
carefully noted the improvement In each
locality. For instance, 1 find land IN
Phelps county now selling for from SO &c
$50 per acre. In Frontier county land fl
selling for from $40 to $50 per acre. with
many farm improvements equal to eastern
Nebraska or Iowa.