The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-06-22
:GEO. NJ. SHOOK co.

You see there Is a difference Of one
half per cent y gets only ) - per cent.
The oue-half per cent Is used FIRST Of
all. 10 meet running business eNpensts
lhete u "A certain money outlay tor
running the laudscnaft, and that - ia id
out OF this one-half per cent The rest
j. paid TO the sinking fund. so that In
IS or 50 years the whole mortgage h.
paid back 10 the landzchaft TneIe is
NO mortgage ON the land OF \. You
see. this money, the money \ has re-
ceived, II loaned to him until she E,ort-
gage Is paid on. amurtize1 The loan
cannot be called ia until after i've or
But. you viii say. n Il wants b,s
money back TO invest In industrial pun
/, loses. or what not what cah ne do lie
can sell the bonds he has bought. II Is
the same as n you were a stakeholder
In an Industrial company. You cannot
ask the company for your money bscK
You can only sell the shares You have
bought. That Is the way IN which "
may get back his money n he prefers
70 invest II. say In an Industrial con-
That T. the way in which \ can get
/ laudschaft. and the landschaft issues
bond. When these bonds are recogniz-
ed as trust investment bonds. there
| must be a great security about them.
and this security IS AFFORDED ~ state
control You must notice tina. Mere Is
district There are one or twp thousand
cooperative associations at any time
but landschaft Is only estabiishcd
NNNFH anu Ut ~ fNNNnllNnfu nUNFN statutes
Government and the King. You must
get a charter from the King in order 90
establish q lsndschaft All tire Officers
| " the landschaft are appointed by the
King. They are absolutely indyoe1-
Many questions unanswered by the
/ statements above will arise in your
/ minds. but I hope this explanation
/ gives you realization OF the need OF
some economical method Of handling
| farm MORTGAGES in the interests Of
I farmers. and a clear idea OF the main
I features of one Of the systems that
| has been used successfully for a long
I time In Germany. Lot us keen in
mind that land mortgage bank must
be established and run on certain
/ fundamental conditions and principles
Things TO Remember
]. Land titles must be clear and
guaranteed and easily understood BIZ
/ the ordinary land owner.
=. Great care must be used to see
b that the land mortgaIsd b. correctly
I and cOnservatively valued
l 3. Loans must not be made for more
I thsn 30 per cent 20 90 per cent Of
. the assessed value Of the land
/ g. The mortgage society or hank
I must operate over q large territory
. and must be carefully tied up with "A
/ state and national system so as TO
b make the bonds salable In all markets
>. SIch bank or society must be
7 subject 10 rigid inspection and super
l vision by higher authorities.
3. II must be organized and man
AGED on small running expense and
| with no hope 81 profit except 90 those
| who borrow
e This society or bank must not
engage I'm any other business a. other
activities might raise "a suspicion about
, the security ~ The floating bonds
I must provide for long time
loans 20 be- paid on tho irritation
b man. that is Tor payment 81 n small
annual rate hat vii cover the in.
l tho principal each year tiU f is on.
tireiy paid