The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1915-07-15

sympathy and cooperation in the in
terest and welfare of the association
by it's borrowers.
as board of directors, not less than
seven nor more than eleven, chosen
from among it's members, represen-
tative part of whom shall be persons
actively engaged in farming.
9th. The association will not re-
ceive deposits nor do banking bust
ness. 1t will not therefore, compete
with existing banking institutions
and should be welcomed by them, for
| it should be the means of providing
a large volume Of money for the i'm
provement of farming interests and
thereby materially benefit the bank
as we'll as other existing enterprises,
except the private money-lenders, on
the short term, high rate interest
plan.
"12th. While the association will
be privileged by it's charter to carry
on its business anywhere in the
United States, and in the Dominion of
Canada, its proposed territory will be
of North Dakota, Montana, South Da-
kota and Minnesota.
18th. In order to further avail
itself Of better and more direct facil-
tiles for gaining information, and
procuring reliable appraisals at any
time and on short notice on applica-
lions for loans and on the security
offered for such loans in the different
communities scattered over the terri
tory in which the association will
operate, it will be one of the duties
of the board Of directors to appoint
a very large number of reliable mem
bers on an advisory board-this means
that in the future, the association
will have member representative
in each township all over the vast
territory in which any business is
done.
"14th. Applications for loans would
be made direct to the association at
its main or branch offices, which will
maintain a competent inspector of
loans, working on a salary basis.
This inspector will have the assistance
of the information any judgment of
the various members in the commu-
mites where applications for loans are
made, as we'll as recourse to other
sources of information now commonly
in use. The same care in selecting
loans will be exercised by this as
ISOLATION as is now exercised by con-
sentative loaning and banking insti-
tutions.
"15th. Besides making farm loans,
and loaning money on growing crops,
stock, machinery, stored grain, and
on other security and securities, a
very important function of the asso-
citation will be to establish and main
tain bureaus of credit, market, audit,
employment, information, immigration
and other department. The associa-
ton will procure and keep on hand,
and furnish at all times to its men,
bers and patrons vital statistics and
information on subjects Of interest to
the farmer. It is proposed to keep the
farmer advised as to how and where
to procure the highest prices for his
products, how and where to buy all
the necessities and comforts of his
farm life at the lowest and most ad-
vantageous prices and terms.
The above plan Of organization for
a Farmers Rural Credit Association
is submitted as result of painstaking
study and investigation.
1T will be the purpose of those
conducting the business of the asso-
citation to compel the confidence of the
public generally by demonstrating
that the organization is based on
sound business principles, and is
worthy of every confidence and sup
port"