Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1915-12-10

rendered to the state land board and
rewritten under the 40-year plan;
that is to say, that the balance of
principal due on any given contract
may be extended and distributed in
equal payments over period of
years. which added to the time the
certificate has already run will equal
40 years in all. It is needless to say
that numerous certificate holders are
taking advantage Of this liberal pro-
l. vision. Deeds have been issued by
the state land department during the
year 1915, covering 1889 acres, re-
presenting an investment upon the
part Of the purchasers of these lands
aggregating $15B.117.
The state land board had on the
first day Of December, this year, 1904
farm loans in force. representing az
564, ,390.74. During the current
year 154 mortgages have been COM
ipleted and $262, ,470 has thus passed
into the hands of that many farmers.
The loans made during the current
year have exceeded the loans grant
ed in any previous year in the his
tory Of the state by fully one hun
dred thousand dollars. This is ac-
counted for from the fact that there
is not only greater demand for mon
ey at this time than in the past years
but for the further reasons that the
farmers of the state are becoming
more acquainted with the opportuni-
ties for getting money cheaply and
easily from this source. The farm
ers thought at one time that they
were not in q position to negotiate Q
loan from the state unless they lived
near the state capital or could send
special representative to transact
business for them. or hire an attor-
ney at home to do the work. There
never was any excuse for such
misconception of conditions. Suf-
flee it TO say that they have gradual
: " grown into the knowledge that
applications may be filed by them on
forms provided for the purpose, and
that appraisements will be made and
: abstracts examined. and in due time
notes and mortgages prepared and
D sent to them for signature, and the
! entire business conducted through
correspondence by any farmer who
: can read and write. The present
: board has rule providing for the
y filing with each application of bank
{ draft or certified check in an amount
9 lequal to per cent of the amount
q applied for and which covers all costs
J. to the applicant of appraisement Of
> the lands and completion of the loan
9 80 far as the state Is concerned.
{ During the current year. or up Il
= December |. the state land board ha
: purchased school district bonds i
. the amount of S72, 1856 and the tota
u amount of such bonds now held b,
d the state, which are still in force az
gregate the enormous total of s2,
70 397, ,241.69 These bonds have bee
10 issued by school districts of the stat
>. for the purpose of erecting schoo
10 houses and furnishing same and usr
y ally run from 10 to 20 years.
y From what has already been sal
= It il apparent that the business {
the state land department. insofar /
te equities in land contracts, farm NOR
n cages and bonds are concerned, a,
O6 gregates over s1O, 900. 900, which +.
D. exceeds any financial or banking ii
l. stitution In the state of Idaho.
I'd The actual cash receipts Of Il
lst department for the current year a
I'D 1,217, 1920. This enormous bul
an ness il conducted with less help al
more economically than any simil
De- institution Of equal magnitude IN Il
ne country. The money representa-
ast principal paid, % above indicated.
for re-invested IN farm mortgages
ay- school district bonds as fast as 1t
% received 50 that t Is kept continui
OF " working and producing revens
Of The interest collected is apportion
nee to the various institutions OF /
ay- state to which the funds or lands
hat spectiveIy belong from which /
Ime revenue is derived and which app
snF- toned interest goes 70 the paym.