The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1911-03-01

facturers coming this way to estab-
lsh plants were common and an.
peared natural, and hence were
readily believed. Everybody was OBJ
timistic and high values were set on
property,
The excitable optimists bought
when the speculative excitemnt and
prices were highest, and regretted IT
afterwards. Some of them got a set
back financially from which they
never recovered. These invested in
lots, and in the construction of build
ings not only to the limit Of their
/, capital in cash. but also to the limit
of their credit. mortgaging their hold
ings for all they could obtain on
them. But many OF the merchants
were not carried away by the specu-
latiye fever: they kept on in the even
tenor OF their way, attending to busl-
ness with the spirit of these intent
on making hay while the sun shines
They did not invest much In real es-
tate beyond their needs for business
and residence purposes. These got
rich, excepting few who extended
credits unwisely and thus were
swamped' by their debtors, mostly
southern merchants. The latter were
new men in business chiefly, engaged
in it after the war, and themselves
were inconsiderate In giving eredis,
thus reaping ruin and infiicting 1t
upon their creditors But the failures
from this and other causes were ex-
ceedingly few in Cairo. or the pusi-
ness men who waxed rich her a con-
siderable number retired aud moved
away, the most of them to their old
homes. Several We're Germans, who
returned to the old country. In ex-
ceptional cases the retired merchant
went to larger cities to engage IN
trade on grander scale than he had
attempted in Cairo. The most OF these
experiments proved failures.
The time came when the e5b IN the
tide of Cairo's prosperity was Wis
fble; the optimist grew modest and
the croaker came to the front. Real
estate became very cheap. This was
the opportunity of cool headed bust
ness men who had soma surplus.
Those who must sell looked them up
and sold at such prices as they could
get
Many fortunes, small and large,
have been made in Cairo real estate,
| the largest by those who bought In
a period of depression that enabled
them to buy at their own figures. The
estates of several of these have been
handed down to heirs within the last
decade. But some of the old mer-
| chants, satisfied with the accumula-
lions they realized from trade, rested
upon these and never INDUCED in real
estate speculation. Some became pos
sessed of realty beyond their inten-
tons by loaning on mortgages.
The first great depression, and The
only really great one they ever suf-
fered, that came in Cairos prosperity
and prospects, grew gradually. Clos
| ing up the government war business
and getting down to peace footing
completely occupied some years fol
lowing the civil war, during which
Cairo was necessarily favored WITH
/ employment on no small scale or
those engaged In reducing the stores
of army supplies and closing the stor,
age and distributing depots. in dis
mantling the larger river naval feet
and disposing of the vessels, also In
winding up and closing out the naval
station and depots at Mound City.
When this work was concluded the
loss OF it was felt, both in reduced
population and circulating money.
The south gradually got upon its feet
and began to raise a part OF the sup
plies ii had drawn from the north !;
although yet large feature OF
Cairo's trade Is in supplying the south
with -four, corn, hay and oats. The
most serious of all the causes for
| Cairo's depression was the decay OF
river business, the great bulk OF
which was captured by railroads
Cairo had not thought much Of rail
roads, as she depended upon her sit.
uation as a river center; but her wise
men finally awoke to the fact that the
| place must be made railroad center
also II 1t was to prosper. Then com
menced the heroic efforts 10 obtain
railroads which resulted in making il
the important railroad center II
now Is.