Richmond Palladium (Daily), Volume 44, Number 299, 30 September 1919 — Page 2

PAGE TWO

THE RICHMOND PALLADIUM AND SUN-TELEGRAM. TUESDAY, SEPT. 30, 1919.

SPECULATOR IS CAUSING RISES IN FARM LANDS

Prop

erties Change Hands Sev

eral Times Says Sanborn Traces Vivious Circle.

By WILLIAM R. SANBORN. One of the danger signals to farmers now Intent at selling out at high prices, or of buying more land as a speculation, la the fact that speculators who wouldn't farm if the land were given them are buying for a rise.

This has been, and is continuing to

be done, all over the middle west. Land has been traded in and boomed

like oil stocks, in every prairie state.

for many months. Former farm owa

ers have in many instances, caught

the lever and are becoming specula'

tors, to the extent at least that they

are buying land at double the prices

received for their own comfortable

and profitable home properties.

Most of these, who did not wlsn to

quit farming, invested In farm land at advanced prices, and many of them

turned their money over before ob

taining possession for home use, and

were again in market.

vvere the speculators to pay cash,

month where the farmer was selling his stock and Implements, because he had first sold the realty. "Who bought thi3 farm"? we asked. "Well, so-and-so bought it from Smithman." said the man who had invested in hogs at the sale, "but it has changed hands two or three times since then, and don't know who owns it now." And this was In Wayne county, gentlemen. Nor is this a solitary examplethere are many of them, and this goes for the state, as well. We do not believe, however, that the speculative fever has been quite so fatal or contagious in Indiana or Ohio as in Illinois, Iowa, Nebraska and the Dakotas. But it is a fact that $23 hogs, $2 and up corn and wheat and hay at the highest prices since the

landing of the Mayflower, have all teen reflected in the upward trend in farm lands. The city speculators are reaping a harvest, lands have even trippled in speculative value, without adding an ounce to productivity, and therein lies the danger. Real Test of Value. A good test of what a farm is really worth, or to what extent these inflated acres may possibly decline, is to ascertain just how much money the land banks, or the solid old insurance companies will loan on the property, for a term of years. In many instances one would discover that he could not mortgage the property for more than 2 per cent of the selling price, today. The reason why is clearly apparent. Consider the land which brought $125 to $150 per acre in favored locations five years ago, and which is selling at $350 or over daily Just now

what has happened to it? Properly

The last buyer on speculation Is in 1 cattle and Duroc hogs, at 9 a. m. Farm

it would be a different matter- hut

they do not. They make the smallest i farmed in 1914 and just as careruny cash or option payment acceptable, j farmed today, how many more tons of

with the expectancy of passing the load on to the next man, at a big profit on their small payment, and not on the farm as an investment. If a farmer receives cash in full he is safe, at least until he invests at boom prices in other acres. That a number of these properties are more than likely to revert to their original owners on the mortgage, no matter how high land values may climb before the collapse, seems to be a foregone conclusion. In other cases the last holder, a man buying In good faith, will hold on for years, It may be, and finally sacrifice what be can not profitably hold. The Speculator's Tactics. We might cite the case of an Iowa farmer owning 200 acres of well improved land near a good market town. He had been holding his farm at a price at least $25 per acre above what his neighbors were willing to pay for It. Along came a speculator who offered him twenty dollars per acre over the price he had long been willing to sell for. Within a month the speculator had sold this farm at an advance of $40 per acre; a very neat clean-up, put the profit in his pocket and transferred the mortgage to the new buyer. Fine business. Inside of sixty days the second buyer had unloaded at an advance of $30 per acre and passed the mortgage along to number three. Number three refused to rent It, and

as he did not want to occupy the home himself and the farmer had gone to town for a rest, It became necessary to put a caretaker on the place to show the property and to keep the bats and owls from taking possession. This means that the land was running down, tbt the "rotation" was lost eight of, that it wasn't being fertilized, etc. But it was a mighty presentable place at that and the county clerk was not greatly surprised when number three brought in number four to get a deed, subject to mortgage, the figures showing that the third purchaser within seven months had cleaned up 7,000 on the transaction. But number four was a six-cylinder operator, running on high. About the

time tne ink was dry ana the wax used the in the "seal" had cooled, he turned the property over to the fifth buyer at a profit of $15 per acre and pocketed $3,000, less a trifle for expense. An exceptional case, you say? Well, perhaps. A fitting conclusion would be the statement that the original owner bad rebought the place from number five, being convinced that he had parted with a gold mine when he sold to number one, and that he had paid a good 6tiff profit to the last buyer, at a price which covered all the money the line of speculators had taken out of the property. But that isn't the status of affairs in this case; not yet, at least. We attended a farm sale within a

CATARRH SPECIALIST COMING TO RICHMOND WILL GIVE FREE EXAMINATION AND ADVICE

just the same boat as was the first,

except that the deal will have cost him a larger sum, but so far as the original owner is concerned that doesn't matter. The first buyer has transferred the option, the mortgage, etc., but the farmer has received but the original payment, and receives the land back on a falling market, with the same old crops to plant, or a rental problem staring him In the face, if he has sold his live stock and implements and quit the farm. Not hundreds of farms have been sold on this basis, but thousands of them, within the past two years. Many farmers have made actual transfers and collected a lot of money, otherwise the boom would have already

collapsed, as to extreme values or selling prices. But the peak must be now In sight, possibly has already been reached for this generation, for all economic values must ultimately come to a balance. All classes of land boomers and traders, those dealing in worthless lands and those doing a real estate business in cities, are responsible for most of the price inflation in the grain states. Just as soon as these find they are being scorched, they will let go and bank their winnings in a profitable

campaign. And this is why we maintain that a lot of farms-which have supposedly been sold at large profits are likely to revert to their real owners, within year or so from date. That this condition does not apply locally seems assured, but that a whole lot of farm property has switched ownership at constantly advancing prices is not to be denied, either by Wayne county or other farmers within a radius of hundreds of miles.

clover or alfalfa will it produce; how many more bushels of corn, wheat and

oats will it produce per acre; how many more head of live stock can be fattened and marketed from the soil, now than then? i This i3 the crucial test of the whole j

matter. If you can raise more, then how much more? If less, for any reason, you will not have a leg to stand on when prices of farm products, with all other essentials, are stabilized at lower levels, as they surely will be, tho never perhaps, on a prewar basis, nor indeed is the later to be expected, for years, if ever. The old order

changeth and we are living in a new day, but not in a day when there is no top to land values, or to anything essential to life and comfort. Speculative Procedure. If a man feels that the land cannot possibly earn interst on over forty or fifty per cent of its present selling value he will assuredly cut the loan to his liking, and within the limits he considers safe under possible foreclosure. And there you are, as a buyer in good faith. But this doesn't bother the speculator. He doesn't expect or desire to borrow; his aim is to sell at a profit and quickly, while everybody is elevating prices and the selling is good. Now what has he to sell? In most instances an option in effect, held at the lowest cash cost, and which in the northwest is in the usual case to run to March 1, 1920, at which time the

payment is to be completed and possession given. Well, possession Is the very last thing the speculator desires or expects. He bought to sell, not hold. If he doesn't succeed in unloading, he can forfeit a few hundred dollars, letting the farmer take hold where he left off.

Eaton on Wyatt pike.

Ethel Hoover, administratrix, on the David Hoover farm, 1 mile north of Richmond on the Cart road, at 10 o'clock. Wednesday, October 8. Mr. and Mrs. Potterf, 2 miles east of Eaton on township road, at 10 o'clock. Thursday, October 9. Joseph Lamberson, 3 miles southeast of Straughn, at 10 a. m. Jesse M. McWhinney, 21-2 miles south of Richmond and 1 mile west.

on the Wolvertoa pike. General sale, (

at 10 a. m. Union County Big Type Breeders' Association, at A. P. Creek farm, five miles northeast of Liberty. 2 miles southwest of KHchell. Hogs and cattle, at 12:30. Wm. Warner and John Hill, administrators of the estate of the late Jesse Blose, 3 miles south of Hollansburg,

kat 10 a. m.

Friday, October 10. Russell G. White, one mile north of Middleboro, two miles south of Whitewater. General clean-up sale. Monday, October 13. William Wilcoxen, nine miles north east of Richmond, Duroc hogs, at 1 o'clock. Bert Souders and H. C. Knode, one mile north of Hagerstown, midway between Richmond and Newcastle on the Knode farm, live stock, implements, etc., on Monday and Tuesday, October 13th and 14th. Wednesday, October 15 M. W. Miles. 2 4 miles south of Campbellstown, on Wyatt road, at 10 o'clock. Thursday, October 23. Bruce Pullen, 2xk. miles west of Liberty, on the Liberty-Connersville Short Line pike, mile south of Pea Ridge school; at 10:30.

Masonic Calendar

Farm Sale Calendar

Wednesday, October 1. Riley McCarty and Sanford Wilson, 2 miles west of Dublin, general 'sale, at 10 a. m. Sam P. Ball, one mile east of Fountain City, corn in field, household

goods, etc., at 1 o'clock. , Monday, October 6.

George B. Miller, mile east of Whitewater, on Richmond and Hollanburg pike, general cleanup sale at 10 o'clock. J, E. Meyer & Son, mile east of Hagerstown. General farm sale at 11 o'clock. Tuesday, October 7 Tuesday, Oct. 7 M. L. Wood, 10 miles south of Richmond, six miles north of Liberty on Liberty and Abington pike. R. H. Whitesell and C. M. Taylor, 1 mile east of Concord church, near

The use seaweed as fodder for horses, in Fraance, is naw an estadlished custom.

Tuesday. Sept. 20 Richmond Lodge No. 196 F. & A. M., called meeting. Work in Fellow Craft degree, N. J. Haas, W. M. Wednesday, Oct. 1 Webb Lodge No. 24 F, & A. M. called meeting. Work in Master Mason' degree, beginning 3 o'clock. Supper 6:30. Clarence W. Foreman. W. M. Thursday, Oct. 2 Wayne Council No. 10, R. & S. M.. stated assembly and work. Light refreshments. , Friday, Oct 3 King Solomon's chapter, No. 4, R. A. M., called convocation. Work in Royal Arch degree. Saturday, Oct. 4 Loyal Chapter No. 49 O. E. S. Stated meeting. Art Stored in 1796, Worth

$100,000,000, is Found

PARIS, Sept. 30. Art treasures valued at more than $100,000,00 which belonged to Catherine I, of Russia, who died in 1796, have been discovered

by the Bolshevist Commission charged with classifying the property of the late Czar Nicholas in the Winter

Palace and in the palace at Tsarskoe Selo. The cases containing these treasures had never been opened since they were sent to Catherine from Rome. The find includes more than 1,000 paintings and sculptures by some of

the greatest French and Italian mas- i

tei'3, including Terpolo, Roughi, La' tour. Lancret ard Fragonard.

Fashion's Latest Dictates Displayed in These Shoes Women's Brown Kid Polish, Cuban and Louis Heels, specially Qf Af priced at ipO.Ul Women's Brown Kid Polish, with Field Mouse Top, a $15.00 CI f flfl value at cpJLU.UU Women's Black Kid Lace. Louis and Millr.!,e?1: $5.00,. $7.50 Misses' Black and Brown English, at $3.50 $4.00 Child's Black and Brown Lace Shoes $3.00 , $3.50 Little Gents' Black and Brown Lace $2.75 u $3.00 Bowen & Fivel The home of Crossett Shoes 610 Main St. "Makes Life's Walk Easy"

Says His Prescription Has Powerful Influence Over Rheumatism

VICTIMS RESCUED Kidney, liver, bladder and uric acid troubles are most dangerous because of their insidious attacks. Heed the first warning they give that they need attention by taking

Tta. world's standard- remedy for th.s disorders, will often ward off tb.s diseases and strengthen the body against further attacks. Three sizes, all druggists. Leek for tk. mm Cold MnU1 ea ererjr oej accept imitation

Discoverer Tells Druggists Not to Take a Cent of Anyone's Money Unless Allenrhu Completely Banishes All Rheumatic Pains and Twinges. Mr. James H. Allen suffered tor years with rheumatism. Many times this terrible disease left him helpless and unable to work. He finally decided, after years of ceaseless study, that no one can be free from rheumatism until the accumulated impurities, commonly called

uric 'acid deposits, were dissolved in

the joints and muscles and expelled from the body.

With this idea In mind he consulted

physicians, made experiments and fin

ally compounded a prescription that

quickly and completely banished every

sign and symptom of rheumatism from

his system. He freely gave his discovery to others who took it, with what might be called marvelous success. After years of urging he decided to let suf ferers everywhere know about his discover through the newspapers. Your druggist has been appointed agent for Allenrhu in this vicinity with the understanding that he will freely return the purchase money to all who state they received no benefit. Adv.

ANOTHER LOCAL WOMAN OFFERS HEARTHRAISE Mrs. Smith Talks Enthusi

astically of Many Benefits She Gained From Trutona. .

Mrs. Amelia Smith, 209 North Sec

ond street, Richmond, has given Tru

tona a thorough trial and has become firmly convinced of the perfect tonic's

unusual merits.

"Yes, Trutona has helped me and

I'm only too glad to recommend it to

those suffering as I did," said Mrs. Smith, a few days ago. "For the past year," she continued, "I've suffered from nervousness and indigestion. My appetite has been

very poor and I could eat but little of

any kind of food, as I was invariably bothered with gas formations and

belching after meals. I was so nervous I simply couldn't sleep the whole night

through, and would awaken several

times. I was subject to frquent dizzy

spells. Generally speaking I felt tired and all run-down. "My appetite is considerably better than It has been for some time and the food taste natural and agrees with me now, since I've taken Trutona. I've been relieved of the annoying belching and the gas formations don't bother me any more as they formerly did. My nerves have been quieted so that I can sleep all night now without awakening. The dizzy spells have ceased to bother me. Because of this relief I'm glad to recommend Trutona to others." Thousands of weakened, run-down

men and women have found longneeded and almost unhoped' for relief through Trutona, just as did Mrs. Smith. The perfect tonic has proven almost unfailing as a combatant of stomach, liver and bowel troubles, nervousness, sleeplessness, loss of appetite and the like, and is equally efficient for overcoming after effects of pneumonia, influenza, deep colds and the like. Trutona is now being introduced and explained in Richmond at Clem Thistlethwaite's drug stores. Adv.

Medical Director of Indiana Catarrh Institute to Give Talk on Catarrh and Tuberculosis

Chronic catarrh of the nose, throat and lungs is so prevalent and is so often the forerunner of fatal diseases, like tuberculosis, influenza, asthma, hay fever, and others that the Indiana Catarrh Institute, permanently located at 1436 North Illinois street, Indianapolis, Ind., is sending their medical director to a few points in Indiana to examine and advise sufferers from this disease on how to prevent or cure it. His examination, consultation and advice is free. He invites every one who is afflicted with chronic catarrh of the nose, throat or lungs, chronic cough and bronchitis, dropping mucous in the throat, pains in the chest, shortness of breath, clogged up head end nostrils, head noises, catarrhal deafness, hawking and spitting, or any chronic catarrhal condition, to be examined and get his advice without any charge or obligation. He will be glad to talk with you, giving you the benefit of his skill and experience freely. Beware of tuberculosis and other fatal conditions by taking treatment In time. The specialist will be at the Arlington Hotel, Monday, October 6, from 9:30 a. m. to 8 p. m., one day only, and will examine all who call to see him. For further information either call In person or write the Indiana Catarrh lsititute. 1436 Illinois street, Indianapolis, Ind. Adv.

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Convenient Terms Gladly Arranged

LZ3 TENTH ANIMHAIN EHT

1 RICHMOND, IND. E

SCENE a garage; time, midnight. Characters, the dealer and a transient customer limping in with a damaged tire. CUSTOMER "Give me a Firestone; I know what it will do and I haven't time to experiment on an unknown tire.". DEALER "Sure; you want most miles per dollar and I want most friends per mile." Exit customer, happy and satisfied, with

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