The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1911-04-13

lor said:
"My attention has been called t
a resolution adopted at a mass meet
ing recently held at Moscow, il
which the state land board was urges
to loan out these state funds on i'm
proved farms and school distric
bonds in place of depositing thu
money in banks at three and one
half per cent interest. The people
of Moscow seem to be laboring IN.
der a Misrepresentation of facts. The
state land board keeps these funds
loaned up very closely. On the 6rsI
of March farm loans had been APP
proved to the amount of 500, 900
in excess of the funds available.
However, on account of the fact
that SO many applicants fall down
in furnishing a clear abstract, or
change their minds after presenting
their application, the state land
board has been able to accommodate
all applicants since the first of the
year. On March LIST, practically
all the available funds had been dis
bursed for farm loans, but within
the past ten days there has been re-
ceived s108, 900 from the Payette
Lumber Company as the proceeds
of a land sale, and in addition to
this amount there has been reported
to my department at the beginning
of this quarter about $50. 900. CON-
ing from miscellaneous sources, and
which is nov available, or total of
about $4,000. With this sum on
hand, the state land board will APP
prove large number Of applications
for farm loans that have recently
accumulated. Il has not been thought
wise to advertise for farm loans for
the reason that the applications we're
in excess of the funds avail
able. As stated, the funds are loaned
up very closely, and the only time
that there is any accumulation is at
a time as above noted when the re-
reipts are very heavy. OF course, it
then takes a little time to get these
loans placed"
81 have recently checked up the
farm loans made by the state land
board and find that they amount to
500, 900 ia round numbers. The
balance of these funds are taken up
" school district bonds and state
,onds."
"In checking up on farm loans I
nd that North Idaho counties have
OF had their equitable share of this
honey. The Law provides that in
iaking these loans that it shall be T
ivided equitably among the various I
ounties Of the state. On December !
It, at the time became a member
the state land board, the follow
g loans had been made in north l
Iaho counties: Bonner, So, 10000;
Iaho, So, 800; Kootenai, 81, 800;
atah, 81 800; Nez Perez, s43, 800;
loshone, nothing. Each Of these
uDties is entitled to an additional
Iotment of s40.O 900 or $50, 900. In
der to make an equitable adjust
mt Of the allotments of this money
: farm loans, those counties that
We not had their share will have
preference, and although there
I be more applications than funds
loan, preference will be given APP
cation from those counties that
We not received their due proper
q. In connection with the subject
farm loans, / desire to add that
: correspondence addressed to me
'sOnaIly, from anyone desiring
m loan, will receive prompt at
tion."
Parties desiring to secure loan
tate funds on an improved farms
uld write the register of the state
d board, Boise. Idaho, for an ap-
alton blank. The money is loaned
he amount Of one-third the sp-
Used value Of the land. The time
wed is from three to five years,
the rate Of interest is six per
t."
ee Miller & Schultz and buy a