Omaha daily bee., 1908-10-25

land craze which has kept men buying
farms every week during the last year.
IL IL successive years OF good c~rops-land
worth $50 ~ $50 per acre yielding an in
come equal TO 20 per cent Of the value OF
the land and In some Instances 30 per cent
The buying OF farm lands has been con-
tinuous and is the legitimate result Of peo-
pie becoming disguised with the frenzied
methods IN the east and the sure winning
to be made in western farms"
w. T. Graham. president Of the Omaha
Real Estate exchange. goes into the situa-
ton thoroughly as concerns the actual
transfers and building operations. Mr..
Graham says:
Records of a Year.
There has been considerable discussion
recently among real estate men as to the
relative conditions OF the realty market for
the years 1907 and 1905. There are various
opinions on the subject which are doubtless
accounted for by the amount of business
done by the different real estate men. The
financial disturbance Of last fall undoubt-
edly affected the realty market during the
early months OF the year 1908, and, In fact.
perhaps the summer months. but where
the cause Is so apparent a comparison with
the same months OF last year would not be
fair. Comparing August and September and
part OF October of last year with the same
months of this year, the difference is in
1aVor OF the year 1908. This, too, In face of
the fact that we are going through a presi-
Dental campaign, as well as a local cam
paign, which always affects financial con-
dltionS and very materially the real estate
market. Were It not for the present cam
paign the present market would far ex-
coed the corresponding season of 1907, and.
in fact, does exceed II.
The number of transfers OF real estate for
August, 1897, was $50; for September. SIS,
and for the first nineteen days Of October,
transfers was 5Ss. for September, 500. and
Tor the first nineteen days of October, AL,
which shows an increase for 1908 in each
Instance; and for the same period Of 1897
the total number Of transfers was 1,4S2,
while for 1905 II IL 1.4S6, a difference of
fltty-four transfers in favor of 1908 for the
same period. AS shown by the records, the
values OF real estate transferred In August
OF 1907 and 1903 are approximately the same,
While the values for September, 1905, are
$4,000 In excess Of September, 1901. The
Figures for October are not yet available
and no comparison can be made. A notable
feature, however, Is that for the first nine
teen days of October of this year the num-
Der of transfers is forty-nine more than
for the first nineteen days of October, 1851.
With this showing, there certainly need be
no pessimistic view taken of the real estate
market. In fact, II Is exceedingly encourage
ing in view of the recent panic, and espe-
cially \in view of the present political cam
paign.
The showing Of the building record is
also in favor Of the year 1905. From Janu-
cry / to October 10, 1907, the total number
Of building permits issued was 1,269, show
ms u hoN " I've FA0ofVvVt VIM "
the same period for 1908 the number of
permits has been 1,2S and show a total
value OF over 1916, 0OO, or more than 100000
In favor of this year. The number of per-
mits for the first nineteen days of october,
1877, was Eeventy-one, and for the same
period this year seventy-nine; and for Sep
TENDER Of last year the number of permits
was 1S4, while for September this year the
number was 15S. 1t is reasonable to sup
pose that when so much building is being
done that the real estate market would be
affected. Persons building homes are not
buying lots, but even with the large num-
Der OF houses being erected and the large
amount of money being invested In this
way the real estate market, both In mum
Der of transfers snd in valuation, shows
an increase at this time Of year over the
same period Of last year. These figures do
kpot include the large number of lots which
have been sold on contract, which is per
haps fully as many as that conveyed by
deeds. Cities throughout the country have
complained of a falling off of business in
real estate lines, attributing 1t to the cam
pRlgn, but Omaha has no reason for COM
plaint. but much reason for congratula-
ton. There is a conviction that the prog
ress OF Omaha is substantial and business
conditions and prospects are reported as
most encouraging. For Omaha to reach a
population of 200,0O0 by 1910 and increase
all lines Of business proportionately is
merely a matter of cooperation on the
part of her various interests.