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a st oy _ 12 1 WINNETKA TALK October 10, 1925 HOME PROPERTY BEST INVESTMENT-BANKER Advises Winnetkans Against Speculation in Florida Boom Lands; Predicts Early Crash By HENRY R. HALE, (President, Winnetka State Bank) The Florida boom which has at- tracted so large a share of the nation's attention in the last two years has assumed such unprecedented dimen- sions, and has resulted in such fever- ish real estate speculation that inquiry into the basis of land values takes on a new interest. Land values are normally based on population. As a town or city grows, real estate prices rise correspondingly, for men and women must have homes to live in, and the value of business property is determined by the num- ber of people who may be expected to stop in and buy. Indeed it is not too much to say that every new resi- dent of any community means more value for every foot of street frontage in that community, and more business for every merchant. Need Stable Population But land values are sound only as population is stable. If, through speculation, the price of property is forced above the levels where popu- lation can maintain them, price re- cession is invitable, and in most cases it comes with disastrous suddenness. Within the past two years, as a direct result of a remarkable publicity campaign, Florida real estate values have ben inflated to the point where business properties in communities, both large and small, are priced at from two to 10 times as much as corresponding building sites in pros- perous northern cities of similar size, while residential districts, urban and suburban, have witnessed the same phenomenon. Under the circumstances the question of what Florida has to offer demands an answer first of all. Florida has a delightful climate through four or five months when northern cities do not boast about their weather. Florida is more readily acessible from the nation's great centers of population than any other winter playground, and, of course, the number of people who can afford to go South for extended winter vacations 1s increasing steadily, if slowly. These are unquestioned facts that might serve to explain any gradual increase in the state's land values. But no ome can account for Florida prices on these grounds. Florida is not and will never be a great industrial, commercial or agri- cultural state. It lacks water power, timber and mineral wealth and its tillable areas are limited. Its summer climate is such as to make any ma- terial increase in its year-round white population out of the question. With these facts, which even the most enthusiastic Floridan will not dispute, in mind, one cannot but con- clude that Florida's unparelleled boom is artificial rather than substantial, and that its collapse cannot be many months away. It is true enough that thousands of shrewd operators have made big money in Florida land within the past two years and that thousands more are holding land on which they hope to realize corresponding profits. The fact remains, however, that there is very little land in Florida which can con- ceivably produce income enough to pay its carrying charges at present prices, and that the likehood of further pro- fitable appreciation is negligible. The time has passed when one had only to buy Florida land to make a profit over-night. Prices are too high, and the time when they will be lower is too close at hand. Right now it would be hard to find any northern city in which real estate investment did not promise a more profitable return than can be looked for in Florida this year. Miss Edith Lawson of Minneapolis, who is studying violin this winter with Winifred Townsend Cree, 779 Foxdale avenue, and who is also making her home with Mrs. Cree, was guest of honor at a musical tea at the home of Mrs. Charles Sommer, 425 Provident avenue, Friday afternoon. Miss Law- son favored the company with a group of violin numbers. MARINELLO BEAUTY SHOP NOW IS THE TIME to take advantage of my Special Price PERMANENT WAVING OR PERMANENT CURLS FALL PRICES $15. and $20. SUGGESTIONS FOR YOUR SKIN Try Our Facials and Bleaches Egg-Pack--Clay-Pack Cream Facial and Marinello Erasador Acne Treatments a Specialty HANNA N. ANDERSON 733 Elm Street STAMINA day on the diamond calls forth every effort of muscle and endurance, and only those with per- fect health can acquit themselves with credit. That's why milk figures so largely in the training camps of the big leagues. PHONE 137 CAS LE Sh VN WN NI -N © §% DAIRY CO. aa Si Council Meets Deficit for Mosquito Abatement Members of the Village council unan- imously voted to appropriate $500 to meet any deficit which may exist in the Winnetka Mosquito Abatement fund, at the meeting held Tuesday evening. Mosquito abatement work has been very effective in Winnetka this summer and has been carried on entirely by the Village authorities, it was explained. Because of the late season work still continues. ARRANGE ANNUAL BENEFIT The Windsor Chapter of The Daugh- ters of the British Empire will hold its annual card party on Wednesday, October 28, at 2 o'clock at the Glencoe Masonic hall. This party is held for the benefit of the British Old People's Home at Riverside. There will be an Sutrance prize of a Thanksgiving tur- ey. R-A-D-1-0O BATTERIES TUBES SERVICE SUPPLIES The Radio Service Shop C. H. AFFELDT 18 Prouty Annex WINNETKA, ILLINOIS | e KS Duncan Studios (Shop of Elizabeth and Arthur Duncan) 812 Elm Street, Winnetka Exclusive art creations and furnishings from all parts of the world to suit American homes. INTERIOR DECORATIONS Antiques--Tapestries--Brocades Fabrics of all Kinds Consultation, Planning and Designing of Interiors for Country Houses. Experienced shoppers are surprised at the indi- vidual character and quality of the gifts and decorations displayed in our studios. Ld AN HONESTLY EARNED APPETITE SATISFIED WITH GOOD FOOD IS ONE OF THE SECRETS OF GOOD HEALTH! Phone Winnetka 920-21-22 I didn't know I had come so early, Happy, my watch must be fast. Otherwise, you better stop work and get ready for the fine din- ner your wife is preparing. I have just been trying to work up a wonderful ap- petite for that dinner, Careful. We are going to have a delicious Prime Roast of Beef from PE- TERS MARKET, and I want to be in the right shape to enjoy it as thoroughly as PETERS' quality meat deserves. PETERS MARKET