Rs se esses oe EEO 
SETTLEMENT AND COLONIZATION IN GREAT LAKES STATES 17 
agents. The small agent-dealers of the type found in Minnesota 
had an average of 4,000 acres “in stock” and an additional 7,000 
acres listed. As a matter of fact, most of them had less than this— 
11 of them had less than 1,000 acres in stock, 3 had about 2,000 
acres, and 3 more about 3,000 acres. Similarly, most firms acting 
as agents had an average area listed of from 1,000 to 6,000 acres. 
The average is high because of a few large land companies. The 
same thing is true for the Wisconsin agent-dealers. Exclusive 
dealers of the ordinary type, such as found in Minnesota, generally 
had not more than 10,000 acres in stock. The large holdings found 
in Wisconsin belonged mainly to colonization companies, and those 
in Michigan were controlled by large operators holding under 
options. | 
Those who were agents exclusively reported only 1.6 per cent of 
the land included in Table 9. The ordinary agent generally had less 
than 5,000 acres listed, but this usually included partly improved 
as well as wild land. The agent-dealers had five times as much 
Tand listed as the exclusive agents. 
TABLE 9.—Land controlled by various classes of land-settlement agencies 
[The figures inclosed in parentheses show the number of concerns; the other figures are acreages in round 
numbers] 
Agents and dealers 
Agents Dealers eee Owors 
State In stock Listed All 
classes 
(a | ee 
Aver- Aver- Aver- Aver- Aver- 
Total age Total age Total age Total age Total age 
Acres | Acres Acres Acres | Acres | Acres re Acres He Acres | Acres 
F (8) (5) (46) \ { (46 11 
Minnesota...|{,oq|} 2, 600 F) yoqit10, 000 fF hqq|} 4, 00011369 dgo|t 7 0001{ £5 ggg] }54, 00011, 172, 800 
Wisconsin...{ Pho} 5, 300 (9) \or, 100{ Pragolt 8,200" 2D ooglt 4 00d 1s oval 8% 100|2, 024, 300 
ichi (2) (3) (1) (1) (26) emg 
Michigan.__|{,7) 9|}17, 50041 54) gqql}82 000 { 46001 49 000 6) 000 f5% 000, S36, “ool 32 000}1, 215, 700 
Total._| 71, 800|_._____ $10, 000]... | 200, 300}... 380, 000).._.___ 2, 860, 700)... 4 412, 800 
1 Only two out of seven agents and dealers in Wisconsin reported the amount of acreage listed 
METHODS OF OPERATION 
Methods of the small agent-dealers are as follows: They keep 
watch over all small holdings in the territory in which they are 
operating; look them up at the county courthouse; correspond with 
their owners and endeavor to get these holdings listed, or, if the 
price is right, take them under option if possible. If neither of 
these methods of obtaining control is feasible they buy the tracts 
under mortgage if possible, although this is not usual; or they buy 
them outright and borrow the money on mortgages or on collateral 
of various kinds. These men dislike to see a bargain go by. Hence, 
they are likely to carry a larger assortment of land in stock than 
is consistent with financial safety. 
Most of the operators prefer to buy rather than to list land be- 
cause of the larger margin made on resales as compared with com- 
2024°—25——2 
