Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-12-28
SPECULATION IN HleH-PRlcED
IOWA LANDS REACHES ENoR.
NOUS PROPORTIONS.
SOME RECENT DEALS PUT
WESTERN LANDS IN SHADE
Men of Moderate Means Catch the
\ Speculative Fever and invest Their
All in Farms, Expecting to Make
Quick Sales at Advance = Wilson's
Rural Observations.
Special to ,Times-Republican.


Montezuma, Dec. 2s.-One of the con-
fdent predictions frequently heard
few years ago when the price of farm
land in this state began rapid RISE
was that high prices would put an end
to land speculation in Iowa. 1t was
argued that the only possible way to
make money by investing in sixty or
seventy five dollar land was for the
purchaser to farm the land himself, and
even then it was hard to figure out
any considerable profit in the deal, and
many thoughtful men insisted that
land would after awhile drop back to
about $40, at which price it could be
profitably farmed. In the light of what
has actually occurred in the last ten
or dozen years, this reasoning has
been shown to be ridiculous, but as no
one foresaw what has actually hap
pened, individual predictions Of a de-
cade ago are not often used as an in
strtrmen to humble those who were I'M
fortunate enough to make them.
Certain it is that $3.50 land has not
put stop to speculation in this kind
of property and any disturbance to
business conditions that would result in
a standstill in real estate movement for
period of year or two would bring
out that fact in way that would be
surprising. The stories of large and
quick profits resulting from recent real
a. TO ia ~ ofi fo To-
body have been tempting even men
with quite limited means to risk their
| savings in this manner, oftentimes I'M
der such rcumstances that temporary
|stagnation in the land market would
| mean immediate loss, that if continued
a little while would develop into finan-
cial ruination. For example of this
one man not great distance from
here is said to have paid $1,000 down on
each of two tracts of land the pur-
chase price Of which aggregated nearly
$40, 900. He at once began offering for
sale divisions of these tracts and has
succeeded in disposing of several at a
good profit Interest and taxes on the
| unsold part, however, are always pill
ing up and these sales must be kept
up or loss will ensue. Another man
bought and sold q quarter section and
getting taste Of easy money" he
Immediately afterward invested in
three quarter sections of high
priced land. expecting to OBJ
tain and early advance as on his
former purchase. II prices continue to
of fortune, If they do not he is likely
| 4 Il >J1
munity this thing is going on and ow-
ing to the great sums Of money in
volved the cheap land speculation Of
present and former years is unimport-
ant in comparison.
| In some Of the neighborhoods in this
part Of the country at least two-thirds
of the number of farms are occupied
by renters-prosperous ones, too. i
asked a man why so many of the own
ers had moved away to the surround
ing towns where they live and he an
swered: Because they receive SIS or
Sc per acre rent for them and don't
have to work. There will be a heavy
Iemigration from here next spring, as
from other of the better parts of the
country, many young men having in
| the past few years accumulated enough
to buy farms of their own where farms
are cheaper in price.
The following incident which hap
pened in a town not many miles from
here, furnishes an Illustration of feel
| ing that is losing nothing in strength
these days. "A man entered a restaur-
ant and ordered a cup of coffee. He had
on, a Galloway coat and a cap and the
proprietor thought he was farmer,
but he wasn't. A dime was rendered
in payment and the change. not being
returned promptly, the customer mild
ly inquired, Ten cents for cup of
coffee?" NO." snapped the restaur-
ant man throwing out the nickel, "but
it ought to be. ! don't get any more
20-cent corn nor 81 hogs, do II" Then
4 1t occurred to the customer that until
something happened to bring about
over prices for corn and hogs at least
it would be wise move on the part
of farmers who patronize the estab-
lishment to disguise themselves as day
laborers, travelling men or something
else not too suggestive of wealth and
despotism when they enter his place OF
business.
C. E. WILSON.