St Joe Company (JOE)

[DFW]

In the late 1950's and early 60's in the eastern Arkansas river delta land there were untold thousands of acres of flooded woodland and swamps. A man my father knew bought up as much of that land as he could for 25 to 50 bucks an acre as everyone figured he had lost his marbles. He was a wealthy man and owned almost 20,000 acres of swamps at his death in 1976.

In the early 80's I brokered sales (for his son) of nearly 15,000 acres in many partials for an average price of close to 1,200 bucks an acre.

Who would buy a swamp?...those swamps turned out to be some of the best duck hunting camps in the U.S......wealthy sports men all over this country now own them and there price if you could buy one is astronomical even in these times of depressed real estate.

Let us not count out swamp land just yet.