The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1915-01-02
PRACTICAL PLANS
TO HELP FARMERS
NATIONAL COTTON LOAN FUND
WILL BE AVAILABLE NEXT
WEEK.
CAN BORROW ON 20 BALES
All Applications Must Be Made BY
February-Sol WexIer Is Chair
man of the State Committee.
New Orleans.

BY next week it is expected that
the Louisiana farmers will be able 10
secure loans from the S135,OOO,OOO
fund subscribed by the bankers of the
United States to finance the cotton
crop.
The complete plan for the cotton
loan fund OF Sl35,OO0,0OO to be loaned
through the banks in the cotton-pro'
ducing states has been received. The
plan was approved on November 80
1914, by the central committee COM
posed of all the members of the Fed
eral Reserve Board.
The margin of security will be ~
per cent, so that for loan OF S3,O0o,
the security would be 12O bales OF
middling cotton, with little less Sc
curity for the higher grades, and
little more security for the lower
grades. Twenty bales is the minimum
upon which a loan will be made.
The forms Of contracts, notes, GER
tiflcates, assignments, ETC., are now
ready for distribution, and it is eX-
pected that the money will be avail
able for loans within the next week
Loans in this state will be made
through the Louisiana State commit
tee, the members of which are:
Sol Wexler, chairman. president of
the Whitney-Central National Bank;
A. Breton, vice president, Canal Bank
and Trust Company, New Orleans,
La; l.. e. Thomas, president, Cont
mental Bank and Trust Company,
Shreveport, La; +. Kirby, president,
| Commercial National Bank, Shreve-
port, La; Joseph Gebelin, vice presi-
dent, Bank of Baton Rouge, Baton
Rouge, La; j. w. Bolton, president
Rapides Bank, Alexandria, La; T. +
Flournoy, president, Ouachita Nation
al Bank. Monroe. La.
This state committee has appointed
local subcommittee In sufficient NUM-
Der to facilitate and safeguard the
practical workings of the plan, which
subcommittees are as follows:
New Orleans-Sol Wexler, A. Bre
ton, J.>H. Fulton, l.. NJ. Pool and w
T. Hardie.
Arcadia-L. M. Tooke, d. M. Atkin:
and B. Capers.
Alexandria,. W. Bolton, L. ]. Ha
kenyos and ]. P. Turregano.
Baton Rouge-Joseph Gebelin, Jo'
Gottlieb and VIM. McCausland.
Bunkie-R ]. Marshall, T. M. Math
ews and c. J. Pope.
Homer-C. o. Ferguson, A. r. John
son and B. W. Fortson.
Lake Providence-H. Stein, ]. n
Hill and W. T. Bell.
Mansfield-B Y. Wemple, Ben John
son and w. P. Head.
Mansura-Emil Regard, V. Roy ant
e. C. Gaspard.
Minden-R. H. Miller, Thos. Crict
ton and G. w. Lawhon.
| Monroe-Travis Oliver, H. ID. Al
: gar and T. E. Fournoy.
, Natchitoches-A. w. Watson, S. +
, Hill and V. L. Roy.
Opelousas-E. b. Dubuisson, j. A
: Haas and j. J. Perrodin.
HdyV1lIo-h. ". EtEcA, ~. D. iSiii
l and Fred Morgan.
, Ruston-O. NJ. Wright, B. S. Bra'
t well and L. l.. Kidd.
, Shreveport-E. X. Smith, L.
:. Thomas, Andrew Queries, S. v
Smith and ]. II. Jordan.
a st. Joseph-Joseph Curry, W. n
e Davidson and Louis Buckner, Jr.
g The amount to be used must be d.
J. termined and applied for by the frs
/ day of next February, because afte
e that date the subscribers to the fun
q will be released from their obligatio
4 upon any unapplied balance.
@ The farmer, merchant and oth'
r. cotton owner may apply to his ban
for a loan on cotton to be paid With
one year from February l, 1915. wit
interest payable quarterly at the raj
. of 6 per cent per annum.