The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1915-05-03
FORTY MILLIONS
IN FARM LOANS
Evidence that East Il Glad TO Get 6
Per Cent OH Oklahoma Mortgages,
Where Titles Are Clean.
By Fred KIsellnr. Tme- sad.

ny HItu hlhtilnk, times StAtI.
Forty million dollars IN commercial
farm loans In force in Oklahoma at
the low rate u q per cent interest, aud
eastern money anxious to get It at
that, shows that the Oklahoma farmer
who needs II loan and has the proper
security 10 give, can get what he
wants by simply making his wants
known This condition, at first glance
by those who do not stop to think.
would seem n reflection ON the state.
II Is not, and there are many reasons
to the contrary.
Lending money on farms, or to the
farmer, IL a perfectly Legitimate bus.
lness, and I'm the case Of Oklahoma II
shows that the farmers are making
improvements on their places, which
adds increased value TO their homes,
md at the same time to the wealth
" the state. Borrowing money by the
tenant or itlnerant farmer, IL quite
another thing, He scarcely has any
security to offer, consequently II Is the
most natural thing In the world that
he cannot borrow.
Farming Successful.
The $40,OOO,OOO loaned on Oklahoma
farms represent thousands Of farmers
who have apparently become success
full 10 a more or less extent, else they
would not be able to borrow money on
their places. This money coming from
m aNnRy, y,.pav lanAaVa aau,NnA 81 Az.
low rate " O per cent, signifies that
II ia the least OF the Oklahoma far
mer's troubles TO borrow money II he
possesses the proper collateral. This Is
true. There are many sources OF
wealth anxious to loan money on Ok.
lahoma farms There il a reason.
Disqualification OF crops in the last
few years has probably been the main
thing TO cause eastern money lenders
TO look with favor on Oklahoma. Ok
lAhoma raises more cotton than some
southern states, and vet at the same
time raises more wheat than some OF
the northern states. In the different
forage crops this is also true. North
ern states do not raise cotton, neither
do southern states raise wheat. Here
is an advantage that make risks easy
In Oklahoma.
School Money Not Included.
Conditions OF no small interest sur,
round the fact that there Ia 10000
600 loaned on farms In the stAte,
These are private loans, II may b.
said, and have nothing 10 do with the
school land department which loans
on farms In the name OF the state. I,
requires between seventy.five and one
hundred trained and expert clerks
bookkeepers, stenogrsphers and field
men TO handle the loans made by
eastern companies. And OF this larg,
sum more than three fourths OF II Il
handled through Oklahoma City, b.
the dozen or more agencies located II
the city. This money IL all cent Il
the Oklahoma agencies and HANDLED
through the local banks. When inter
est is paid, or the notes settled, tn,
money comes back through the Okla
homa City banks on Its Journey bacl
10 the owners with the exception o
one small agency, there are no farm
loans IN oklahoma handled through
y Texas company, and none by NJ
Arkansas agency II comes direct L
Oklahoma City from the source o
supply
Clean Titles Possible.
Favorable laws and the fact tina
clean titles can be given In OklahomI
has made the business favorable l.
eastern investors. Most Of this none
ia furnished by the big insurance CON
panies Of the east, while trust CON
pnnies supply their share. Seldom 1
a loan made directly to an individual
The big farm loan companies Of IN
state have representatives In ever
county, usually a bank which buys m
loan and the banker or personal rel
resentative OF the loan company Al
tends to the details
Other conditions make oklahom
farm loans desirable to eastern inves,
J ora Kansas, Texas and Arkansa