Memphis (TN) Appeal, “Land Speculations at the West,” June 5, 1859

Source citation
“Land Speculations at the West,” Memphis (TN) Appeal, June 5, 1859, p. 2: 1.
Newspaper: Publication
Memphis Daily Appeal
Newspaper: Headline
Land Speculations at the West
Newspaper: Page(s)
2
Newspaper: Column
1
Type
Newspaper
Date Certainty
Exact
Transcriber
Don Sailer, Dickinson College
Transcription date
The following text is presented here in complete form, as it originally appeared in print. Spelling and typographical errors have been preserved as in the original.

LAND SPECULATIONS AT THE WEST. – A native of Massachusetts thirteen years ago sold a lot in St. Louis, Mo., for $1,500. Today it having become a business center, it cannot be bought for $400,000. Another gentleman went to Kansas in 1854, taking with him $7,000. The property he has acquired there from this nucleus is now worth $200,000. Property in Leavenworth which sold in 1854 for $300 or $400, is now worth $15,000. The same is the case in St. Joseph, Kansas City, Lawrence, and a few other prominent points. Men in those places have become wealthy, not from any superior sagacity, but from having invested a little money in the early history of the Territory. In 1856, an Ohio gentleman paid $100 per acre for a tract of land adjoining Leavenworth, and within six months got an advance of $1,000 per acre. But a change has taken place. In 1857 paper cities sprung up in great abundance. Shares in them sold readily from $300 to $1,800. In one of them a lot 25 by 150 sold then for $1,000. They would not any of them now bring $40 per lot. A great deal of Eastern capital was sunk in these embryo cities.

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