The Tucumcari news and Tucumcari times., 1911-02-04
the AUTOMOBILE AND the BANKER

western city Of ten thousand population:
~ list Of auto.owncrs secured from
the license book In city clerk office
aud compared with the mortgage reg
istrf In the county register Of deeds
office, reveals the fact that twenty auto.
mobile owners out ~ eighty -four have
mortgages on their homes, property
hu.incs-. aud chnttcls to the extent OF
business concern cuts the figure down 10
t1I,p62 80 for nineteen persons; about
two.thirds of the mortgages are ou
homes aud places of business. This
does not mean bankruptcy, bu, /, may
mean economy IN other directions, an
IN flucncc that affects the money supply
aud the mode Of community living
\ general sales agen, for one Of the
m"s, popular low priced ears said; "Wc
have secured figure, 10 show that the
middl. ives, out of ciPhty.cight pet.
sons able 10 buy and maintain q modcf.
ate c.priccd ear only one has purchased.
In th" other eighty seven wr have our
plans for future sales. We spent s32 900
advertising IN one middle west ucwspa
per last year an u paid
~ much has been printed aud said
concerning this form ot spending that
the buyer today feels compelled to make
some explanation. The other day u
preacher IN the middle west communit,
as,onisbcd his congregation by appear.
ing on hi, circuit IN snoo,hc. running
touring eat ~ caus,ic wcr the com
m"uts that he published IN the local pa
per card;
" for the information of the curious
Wish to say that did not buy my nu.
,umobilr. traded some land aud It
Was thrown IN q" boot. 80
This phase ~ the industry j. concrete
aud definite. However, 1t IL but un,
form oi the expenditures which the IN.
terror has been making IN th" years of
10 prosperity.
cover $lOO.OOn has been sent out of
my country in ~. past two wears for
mining stocks, Investments in patent
righ, schemes. aud land speculation ~
q distance that did not call for actual
settlement. said banker two hund.
red miles west oi ~" Missouri river.
This il no NOR" than amy well settled
county has invested sam. hav" exceed
~ that figure. Ouc railway company
IN Denver has received over million
dollars from Oklahoma aud central Kan.
sss Ia, stock In less than three wears.
Add"d "a ,hi, have been the immense
sums invested IN lands for speculation
or for increase ~ farming op.rat ions.
The banks hn," been called nn ~ I'm.
ance 'hcs" investments. aud they have
found the demand Tor money excessive
during the past year. Along with the
motor ear went furnaces. art iirial light
. ing plants, and bath tubs the ear being
| hut part of the cNp"ndiur" Of their
r customers. \ banker does not loan
money expecting ,o take the collateral
b" expects the loan 20 br paid. II III.
, customer j. placing ~" money il an IN
produciiv" "nt"rpris" when hr cannot
afford Il ard the banker knows whrth
- "r not b" can afford II hr has III,
| right ~ refuse M" loan
. This has been q part IT the larrc'
= reason for the effort Ia rurtnil borrow
h, ing :" buy rars. Even this j. prohahl,
exaggerated. The statement from IN,
. town given ah"v, includes every ,ur, ni
indebtedness owed by the firms IN whirl
I the "ar.ownrrs are Interested. II does
, not fairly rcprrsru, the financial condi
|, ti"n ~ th" purchasers.
, ont of $3.50 letter, received from
bankers IN response Ia Hut tumuhilr deal
- "r's inquiry, LISA mortgages To- huy ear
were rrport"d. The total number o'
A ears reported IN the respect ivc communi
I ties reached was las.2ld. while the au
= 'omohlr output this wear va, ls0.0Ou
;. IN" census bulletin piycs the annual pre-
. durtion of horsc.drnwu passenger W.
). hirlrs ~ - 200 with snO Onn freight -
5 package vehicle, IN addition. II woul,
4 h" interesting 10 know how many ("
4 those are purchased on time
=. The automobile industry has passc,
n the hyst.rirnl stage. The family tina
| three wears ago dr"N" night aud Ia
>. simply for the delight of III. thing. no,
| goes only when pleasure ~ husincS
q calls. The novelty has passed ava,
=. Practically cv"ryhody has had s"mc cN
J, pcricnrr in the seat NJ moving cal
T. I, has hceomc more moderate 10,
a m"nt, matter of course.
This mrans that ears will bee pul
>. chased on business rather than On .ci
+. ,imen,al basis Dealers say the sal,
Y. this year will be- larger than those ,
.. 1910. The office report Of one Of N
l. I largest firms on November last shov
.c 90 2I.l32 Aars made for la, wear
n trade. aud - left IN the hand ~ lea
4. "rs The company asked every deal,
m iu q single western state 10 make ri"'
y estimate of his probable needs for lgI
Is The total was 200 ears. In 1910 n
n. sales were 1895,
ri Along with the 4 nand for passeng'
r.. automobiles il coming ,ha, for far
-. tractors heavy gasoline. propelled v
~ hicles that can plow twenty.acrcs Ia
n, haul grain to market (thr"c tons At
Sc load,) run feed. grinders and corn she