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Selling Cut-Over Lands in Wisconsin
The Business History Review
Vol. 28, No. 3 (Sep., 1954), pp. 236-247
Published by: The President and Fellows of Harvard College
Stable URL: http://www.jstor.org/stable/3111572
Page Count: 12
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In 1906, nine important lumber firms set up a jointly owned company to sell their cut-over lands in northwestern Wisconsin to potential farmers. The land company learned, from its experience with various classes of buyers, that the most reliable was the owner-occupant who had made a substantial down payment. Even when a settler fell behind in his payments, the company did not foreclose unless the debtor left his land or was obviously making no effort to pay. Competition from other land companies tended to lower the price of land and also to inflate sales costs, but at its dissolution in 1940 the company showed a moderate profit. Thus the policy adopted by the nine lumber firms, of holding the cut-overs for sale to settlers rather than letting the land revert to the state for taxes, found a commercial justification.
The Business History Review © 1954 The President and Fellows of Harvard College