San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1925-09-14

The greatest speculation going on
in America today is not in Wall
street stocks, but in real estate.
Florida, of course, holds the center
of the stage, but dramatic happen
ings are going on in many sections.
Human beings, especially Ameri-
cans, cannot long resist the tempta-
ton to speculate-or, if you wish,
call it gambling. At one time grain
may be made the popular wheel OF
fortune; at another time cotton; at
another time oil stocks; at another
time railroad or utility stocks; at
another time mining shares; Mt an
other time German marks. But perl
odically a boom breaks out in real
estate.
You have heard little OF any real
estate boom in New York; yet one
authority has been impressing upon
me that there have been greater in
creases in values in New York than
in any part of Florida, not exclud-
ing Miami, the star performer there.
| recently bought a piece of ground
adjoining my home at exactly double
the price 1 previously paid, and since
then every foot of land in this neigh
borhood has been withdrawn from the
market. The prospect of bridge
across the Hudson, connecting Jersey
with uptown New York. has been suf-
ficient to start veritable boom over
quite an expanse of Jersey territory.
In Bay Ridge, Brooklyn, land has
doubled and in some cases trebled in
value. Long Island has been reyel-
ing in boom.
A Philadelphia banker this week
told me of piece of water frontage
which couldn't be marketed two
years ago, but which sold recently at
100000 and is now wanted by an
other buyer at S1,000,O00. Similar
conditions are reported at nearly
every point of the compass.
One rule followed by shrewd, ex-
perienced operators in securities in
this: Buy when everybody wants to
sell. and sell when everybody wants
TO buy.
Spectators in real estate may not
feel like needing that maxim but
there is another Wall street maxim
which they certainly should not
neglect; investigate before you in
vest.
Cotton promises BY and by TO be-
come worth more than it is now sell
ing for.
DIR. Frederick Terrell, head of the
largest bank in San Antonio, who is
now visiting New York, says that
while the cotton outlook in that part
of Texas is not at all bright, employ
ment has been well maintained in the
city, helped by very active residential
and business building financed by out
side capital. The drouth has told
heavily upon cattle raising, but high
prices for cattle and more intensive
ranching have brought turning of the
corner. incidentally, San Antonio has
taken over its water supply from a
private company and this veteran
banker says the experiment gives
every promise Of being successful.
The San Antonio Light introduces
front page news story with these
sentences:
"San Antonio bankers have quickly
answered the challenge Of B. q.
Forbes, financial authority for the
Hearst newspapers, by following his
advice and forming the third largest
state bank in Texas.
"Tt required the sage advice Of Mr..
Forbes to win over those who frowned
on such a move declared Walton d.
Hood, vice president of the Texas
State Bank and Trust company, which
has merged with the Security Bank
and Trust company. Mr.. Forbes child
ed us at not having a bank half as
large as one in Ell Paso. We have
answered him now. Watch San An
tonic 90 forward"
In a number Of other cities San