Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1912-02-06
MERCHANT COMPELLED TO TAKE
SECTION OF LAND FOR
SMALL DEBT.
RECEIVED MANY ACRES At
80 CENTS PER ACRE
Same Land Now Worth 500 Per Acre
and Yielding Big Returns-Ma rked
Changes in Methods Of Farm Rent
ing in Northern lowa-c. E. Wilson's
Rural Observations.
Special to Times Republican.

Special to Times Republican.
Sheffield, Feb. Elm the city OF Du-
buque there is said to be living an
old man who owns many farms in
widely scattered portions of the couh-
try. One of these farms is located be-
tween this town and Thornton. The
old gentleman is the father Of son
who devotes his time to business Incl
dent to the ownership OF the farms and
to the man who drove out to the
Franklin county farm some time ago
he told the story Of its acquisition. 1t
serves as an instance Of good fortune
thrust upon q man without the consent
of the recipient. 1t seems that about
thirty five years ago, after something
of an Industrial boom in Dubuque,
period Of dull times fell upon the city.
A man named Wellington was engaged
in the mercantile business there and
had been operating on a credit system
that necessitateG a continuance Of gen
eral prosperity il he was to remain In
the business field. One day customer
came to the store and called for
statement Of his account. It was found
to be just S175. WELL" said the pa
iron, Il am out of work and have no
money, but 1 have section of land
out near Sheffield in this state. II you
want to take the land and give me q
receipt in full 1 am willing. If you
won't do that I don't see how l can
ever pay you. The IlieT Chant went
home and related the facts to the fam
lily and added that he didn't want any
land and thought he would rather can
eel the debt than take the section OF
prairie so far away. Then the son, a
little boy at that time, expressed a
childish desire for the farm and that
or something else Influenced the NOR
chant to the degree that he changed
his mind and assumed ownership OF
the land at price less than 80 cents
per acre. Ii is well improved now. the
improvements were built with the pro-
ceeds of the rent or rather with
small portion Of it, and the place could
be sold for more than 800 per acre.
A marked change in methods of rent
ing has taken place in this part OF the
country as well as in other localities in
recent years. Not long ago the land
owner was the target for some sharp
criticism because he refused to rent his
farm for a share of the grain instead of
demanding $3.50 to So cash, no differ
ence whether hail storm destroyed
the crops or not. Now the renter is
anxious to take all such risks as that
and pay 81 or in many cases even
more for the better farms, while the
owner would rather have share OF
what is raised. Last year on what is
known as the Mrs. William Pierce farm
east of here, Esslinger brothers. the
present tenants, raised enough corn
and oats to make the owners share
worth $500. The farm contains 26O
acres. It is said that the share rent
system has netted the owner Of one of
the Aborn farms. $40 acres, near Shelf
field, the sum of $4,000 annually for
the past five years.
The price Of farm land in this local
'ity ranges from SIS to more than
double that amount, one quarter sec
ton having recently sold for $4,000.
The highest prices are nearly always
paid by some outsider who comes from
section. of the country where land is
much higher and to whom $3.50 for
an acre Of good land seems cheap. In
about every case of the kind there are
people III ttl6 wiz w iOI
hesitate to tell how the stranger "got
stuck" but the stranger invariably
makes good on his purchase and pro-
ceeds to put his farm on the market at
an advance of $40 or else refuses to
part with it at any price.
Real estate dealers are not depending
on outside buyers alone for business in
kII 1tor
is taking hand in land investment,
too One land dealer readily recalled
six instances in which renters have
bought farms of their own within the
last year and there are new pros
poets" on the string all the time. In
most cases there is no use in suggest
Iowa land or nothing.
Here is oneonore story of compari-
son in land prices past and present:
A man from an eastern state visited
his brother living on a farm a few
miles from this town. Across the road
lay quarter section which the owner
wished very much to sell. He asked
$3.50 per acre for the place. The visi
tor. urged his brother to buy the farm
him and told them that If they would
promise to stay with him until it could
be paid for he would take It and deed
each of them an eighty. They decided,
however. that the prospect of $1s per
month as farm hands was better than
the offer the father made and that set
tied the matter. Twenty years have
passed since that time and the quarter
section farm is worth ten times what
it was when an uncle offered to finance
a deal for the benefit of a couple of
boys who, like other people, couldn't
see what. was coming so soon In mat
tiers relating to the price of Iowa farm
lands.