The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1915-10-11
sUsscRiPr1oas RATES:
OKLAHOMA HOME OWNERSHIP
LAW is WORKING.

II is probable that few citizens Of
Oklahoma fully realize the importance
and the possibilities Of the home own
ership act that was enacted by the
last legislature This monumental
piece OF constructive legislation fur
lishes the foundation for attacking
the problem OF tenantry in Oklahoma,
opening the way whereby land occu-
pants may become land owners. 1t is
true that the amount OF funds now
available for the purpose is limited
but a substantial beginning has been
made and the prospects are that the
home ownership fund will be largely
increased within comparatively
short time.
Announcing list OF the first loans
made under the new act, Governor
Williams issued statement which
sets forth the status of the laws oper
alton up to the present time, indicat-
ing the purpose Of the administration
to put the entire plan into effect as
rapidly as possible The governor
SAYS
The home Ownship division OF the
farm lean department under the juris-
diction OF the commissioners OF the
land office was created by the last
Legislature tsession laws 1915, pages
A.. 5so The appropriation to carry
this act into effect, however, was not
available until july !. Necessarily III
has fakon some time in order to pre-.
pare the details for carrying this law
into effect The only additional help
added to the farm loan department for
: 'tdrryrfs ~fnfo4 erect tnsd act (which
created the home ownership division I
is a chief clerk. at salary of 81 500 |
per annum and bookkeeper at e
salary Of $1,000 The chief clerk is "a
lawyer OF ability and capacity.
Under date Of Sept 2s. 1918, the
chief clerk Of that department writes
me as follows
First-Funds now on hand in
the farm loan division to be trans
ferred to the home ownership di
vision. total s3O6.O79.54
Funds on hand in the sales di-
vision on Sept. ], 1915, to be
transferred to the home owner
ship division. s213,34.94.
No funds have as yet been
transferred to the home owner
ship division, but said funds will
be transferred on October /
Second There have been filed
in the home ownership division
sixty-one applications for loans,
avFregsting s76,650.
"Third-There have been thir-
teen appraisals made
"Fourth-The notes and mort
cages for the home ownership di-
vision were placed in the hands
OF the printer by the board OF Of
fairs on September 27, The con.
tract being awarded to the West
ern Bank Supply company OF Ok
lahoma City expect these notes
and mortgages to be printed and
delivered IN about two weeks.
The commissioners Of the land
office on October approved and
authorized the loans in the home own
crship division in the amounts aggre-
eating $4,000
I'VE have now available to loan in
the home ownership department the
sum Of s5ls,i2l4S. This money will
be loaned only for the purpose Of
enabling farmers to acquire homes,
not exceeding 160 acrea Of land, and
the loan not to exceed in amount
$4,000 for a period Of 23i2 years. A
small per cent Of the principal. as well
As the interest to be paid semi-annu
ally. interest to be at the rate Of s
per cent per annum.
In addition to the sum Of s51a. a.4g14S
to he loaned. the act provides for the
issuance OF honds to be known as
Oklahoma home ownership bonds. said
bonds to be secured by certain lands
known as the University of Oklahoma
and University Preparatory school,
Agricultural and Mechanical college
aud Colored Agricultural and Normal
University lands.
Section 5. article II. constitution Of
Oklahcmal
But SAID section contains a proyiso
40 the effect that the said land so
reserved or the proceeds of the sale
thereof, or Of any indemnity lands
9ransed in lieu OF section is shall be !