Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1912-12-24
LOANS TO FARMERS
Farm Credits System Is Similar Il
Building and Loan Societies
PROVES USEFUL IN OLDER NATIONS

Senator cummIns Says Banks In This
Country Take Place Of the
European Plan for A.
sistlns Producers. u
Des Moines.-senator A. B. Cum
minis is not disposed to jump hastily
into an Endorsement Of the farm loan
or farm credit system now being
boosted by President Taft. The SEN
ator said in an interview that he re-
serves his decision on this new finan-
cia1 plan until he has had an oppor.
tunity to investigate it carefully.
There are arguments in favor Of
the farm credits system which apply
to European countries and do not ap-
ply to our country" said Senator
Cummins. "In this western country
we have plenty Of country banks with
money to loan. 1t would doubtless
interfere considerably with the bank
ing business to have the proposed
new system adopted. In European
countries you do not md two or three
strong banks in every little town as
here in the west
"As understand the proposed sys-
tenn, it is similar to our old building
and loan associations where a num-
Der of people band together and put
up securities for long time loans at
low rates of interest. It 10 not neces-
sary for the farmers to have any spe-
cial legislation If they desire to
adopt such system a. this. Many
Of our farmers nowadays are bankers
and directors and officers in banks
and understand the financial system
quite as we'll, and sometimes much
better, than the city business man.
There is nothing to hinder COM
pany Of farmers in Dallas county, for
instance, organizing loan company
and pooling thsir land interests a.
securities for long time loans or
bonds and using the money to improve
their properties. Almost any farm
community in Iowa has bright enough
men to work out such plan and car
~ it through successfully, but az I
say the present number Of banks
and the confidence which the people
have in them has made such . scheme
unnecessary"
Criminal casss Reversed.
The supreme court has handed
down opinions reversing the lower
court in two criminal cases. Judge
E. B. Woodruff was the trial Judge in
the cases and the opinions were writ
ten by Justice Horace e. Deemer.
The cases reversed were that Of
the state against r. L. Duncan, con.
yicted Of breaking and entering and
the state against Harry Hector, con-
victed OF seduction.
Duncan is alleged to have entered
the Burlington depot at Hamburg and
stolen money and revolver E. r.
Fowler confessed accomplice impli-
Gated Duncan. Duncan was convict.
ed on the testimony of his alleged
accomplice. The supreme court held
that there was no testimony to cor
roborate the confession of the &C.
complete.
In the other case, which was ap-
pealed from Pottawattamie county,
the supreme court held that the low.
er court erred in not permitting Ger.
tain testimony the defense demanded.
The attorneys for the defense were
trying to show the indictment against
Hector faulty. They alleged that
certain testimony given before the
grand jury was not in harmony with
that given at the trial. They asked
that the county attorney take the
stand and tell wha took place before
the grand Jury. The court refused
to let the county attorney take the
stand
State investigating Fires.
The state fire marshal Is investi.
eating recent fires at Muscatine. A.
few days ago fire destroyed 100000
worth of property. The first of two
fires destroyed motion picture the
alter and several buildings valued 1t
$4,000. The next night 4 lumber
yard worth $4,000 was burned. The
lumber fire broke out about 8
O'clock.
"Incendiaries usually work at night
time.' Mr.. Roe said. "But it is rath-
er remarkable that Muscatine should
have SO many fires in so short time.
1t has not been week since 1 re-
ceived reports from three other fires. ;"
Iowa Milk Men Combine.
An Iowa state retail milk dealers
association was formed in Des Moines
recently with Robert T. Armil of DAY.
export as president. The other Off
GERS are Guy Brewer Of Des Moines,
vice president; L. Newlens of Des
Moines, secretary. and Miss J. p.
Wright of Fort Dodge, treasurer. Des
Moines was chosen as the first regu-
lar meeting place and sessions will
be held on Feb. and 6 of next year.
important Decision Rendered.
Whether a saloonkeeper who sold
liquor to man is responsible for the
actions of the man after he becomes
intoxicated is nice point in case
from Carroll county, which was de-
cided recently by the supreme court.
Arnold Lee, it is charged in the case,
uoc Li11od "a q rosu1t ne ;ntow;oo<a~~