The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-11-12
WE|SER MEN PRESENT
NOVEL RURAL CREDIT
PLAN HERE

The regular monthly meeting of the
Commercial club Tuesday evening was
taken up by a very interesting dis
cussion of the Weiser Rural Credit
association plan.
By invitation Messrs. A. S. Everest,
originator of the plan, George Cool
ey, who is serving as trustee, and
Editor Purcell, all of Weiser, appear
ed before the club and told of the
growth and success of the idea.
DIR. Cue called the meeting to or
der and Mr.. Purcell prefaced his re-
marks by saying that, prohting by
the wisdom which Is inherent in
editors, he decided not to make
the trip from Weiser by auto via On
tario, but came down by train. The
other members of the Weiser delega-
ton not having arrived, Mr.. Purcell
proceeded to outline the plan and told
in that community.
Mr.. Everest had come to Weiser
in the interest of the bond holders of
the Crane Creek project and had be-
come conversant with the difficulties
of many of the settlers and, in order
to overcome some of these difficulties,
had suggested the Weiser Rural Gre
dit plan.
AS operated at Weiser the plan
takes care of what may be called the
doubtful credits"-the credit of peo-
pie having only very limited amount
of property and who consequently
find it extremely difficult to obtain
seed grain, farm animals. and suffi-
cient commodities to carry them over
to the time when they can sell their
crops.
While Mr.. Purcell was speaking
Messrs. Everest and Cooley made
their appearance, dusty and somewhat
tired from their trip.
The association was formed by the
business men of the city, who elected
a board of three directors and sort
of field manager, to whom was paid
= salary. The field manager takes the
applications for credit. to which is APP
pended statement of the applicant
financial condition. This statement is
investigated and if the applicant is
found worthy of credit sufficient to
carry him over safely, he executes a
crop or chattel mortgage, and is given
Credit Certificate for a certain
amount When purchasing goods he
gives a warrant on the association and
the amount of the purchase is enter
ed by the merchant on the creditors
certificate. This warrant is register
ed with the association, and is accept.
ed by the merchant as cash.
1t is the business of the field mana.
ger to watch over the affairs of those
obtaining credit and in case crops are
abandoned or not looked after prop
erly. the association steps in and ex,
tends help in order that the crop may
be harvested and the liabilities of thC
farmer met promptly. The credits
expired this year on November st
but in case any man wanted to hole
his crop for a better market, exten
sion was granted.
Mr.. Everest in his address to the
club told of the success which had at
tended the operation of the plan il
WeiSer. He said that the presiden
of the Kansas City Federal Reserve
Bank declared that the paper repres
ented by the warrants issued unde
this plan was ideal and that h,
thought that there would be no troubl
in having it accepted by reserv,
banks for the, full term g to l.
months) in the near future.
Mr.. Everest declared that ever,
community should investigate the plal
and that the merchants and bank
should form such an association an
extend the plan throughout the Snak
River Valley. Through the use o
some such plan as this he though
that the government would be force
to the adoption of a practical Rura
Credit plan which would make long
time farm loans on low rate.
A vote of thanks was extended t
the visitors, and President Lewis ap
pointed Messrs. w. G. Cowden. Clev
Groome John Cupples. F. H. Plow
head. C. S. Doan. ]. D. Kellehel
Ralph Oakes. Fred Boyes. B. M. Hol
and c. V. Peckham a committee to il
vesti0ate the feasibility of the We
ear G4radsk n1au "