Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-02
LAND PRICES BEING
DRIVEN SKYWARO;
PUT LIMIT AT $500
FINANCIER LAYS BLAME FOR IN.
FLATED VALUES AT DOOR OF
SPECULATOR - GREAT SLICES
OF FARM PROPERTY NOW
UNDER OPTION.
Where is it going to stop

W mere Is IL SolllS W Slop'
That question is being asked by
every La Sale County farm land
owner. as prices on his own and his
neighbors real estate soar higher and
higher from day to day. This ques-
ton reached its peak during the week
when. a farmer near Grand Ridge Is
| said to have stoutly and fatty refused
an offer of $500 an acre for his ordi-
narily improved place.
Dealers in real estate, the curb
/ StOner who occasionally takes flef
! in land and the honest-to-goodness
prospective buyer, are at loss to
explain the monumental rise. which
they assign TO initiation of La Sallo
County land values. All are prone to
keep quiet on what The limit will be,
but conservative estimates made by
them fix si0N AS the average and $500
as maximum which will be paid for
the farms scheduled to change owner.
ship next March.
Thta frenzied spectators. anxious
to nail some good options, are driv.
ing the prices skyward, is openly ad
mitted, but as it behooves the farm
owner TO stay in his place of vantage
and say nothing he is not worried nor
bated either. for that matter, by the
switch Of fortune his way. He secs
a chance to get out from in under
with large margin of profits, both on
his realty and grain, and is not going
to miss a chance to strike the heSr
bargain that comes along. He's not
worrying and has no reasons to fret
Hon win
Shows in Recorders Office.
| Over in the recorders office unprecc.
, dcnted activities are show in both
country and city real estate Never
( before in history has that office been
so busy recording transfers of all
kinds. Peculiar to the times are a
large quantity Of Contracts" no more
nor no less than options. which have
, been filed from day to day and still
are pouring into the Office for record.
= All these contracts call for possession
=, Of lands on March next. but the
offers are from unheard OF prices OF
S21' to $3.50 per acre, leaving Mr.
Farmer sitting steady in the boat. high
prices awaiting him for his crops. and
earnest money" carefully tucked away
in his jeans
| Today one prominent financial all
, thoritv in an interview with "A Free
, Trader-Iournal representative looked
uneasiy into the future and was nor
5 overly pleased with the outlook. He
, ahhorod speculation in real estate. his
, memory taking him back to the old
days when hurrics in farm lands we're
. followed by an imitation of city lot
values and then came the crash He
J. was not eloOmily predicting i'll omcns
4 for the future, bur locke at the prop.
y oSition from its cold bare reality
!. 'CondI'ions now might be different e
he said, and the history of specula
tion In lands reversed There is the
chance and hope sincerely it I,
true
on the other hand, there are re
SponSihle authorities who lay the pres
a en' N''"'S 10 NOR" optimistic source
|, NY 'o'''n" 'h' farmers are makiha
4 ".''rN ''N 'ndn 'heE ever al"
u 'N'' ~ '"''' '''''' Nv pr'Hohce o
# 90 ~ "''I" accounts "nere oe'or'
y. ther" used TO be notes and mortgage.
IN ,oot ra ,,,,. ar +. ,.o'',,...,t7,.
's 49, "',. ''', p'f o' 'S '''PonS,''e