davidaulloa/AmericanStories huggingface dataset:
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
FEDERAL FARM LOAN ACT
esssed BY the House o. Representa-
0sss ard the United States Sen
ste June n ard 2s, 1918,
Respectively.
sIsn.e BY n. pre.ie.n, July ~. 1915.

3-Proyides for a fedora lard hank
sys,em In the continental United states
(eIclusve Of Alas.a). dividing the
country into twelve land bank districts
composed Of whole states.
a-The system 10 operated as bu-
seau OF the United states treasury de-
psrtmen, and supervised by the fed
sral farm loan board. The secretary
Of the treasury IL er-oficio chairman
sf the board with -four other members
appointed by the president FOR eight
yesrs at en- annual salary of $1,000.
One member 10 designated farm loan
commissioner and Is the sciiys eIScu-
i've officer.
AIppoirtees 81 Beard: ta) Farm
iosn registrar for each land bank dis
trict and
tbJ One or more land appraisers for
each land bank district Salaries paid
BY federal land bank or joint stOc.
land bank for which they act.
tc) Land bank examiners; salaries
paid by the United States.
td) Attorneys, experts assistants
and other employees TO be paid By the
United States
f7.--eewers ef the Board: ts) To
organize and charter federal land
banks, joint stock land banks and ma
tionsl farm loan associations.
tbJ To review and alter the rate OF
interest to be charged BY federal land
banks for loans.
tc) To approve or reject any or all
loans for bond issue and 10 grant or
refuse any specific issue Of farm loan
stock land banks.
I'D To regulate charges for sp-
pralsal. examining titles and record
Ing.
te) TO apprsise land securing mort
gnges for bopd issue.
90 To exercise general supervisory
authority over the federal land banks,
farm loan associations and joint stock
land banks.
30-The farm loan commissioner
shall examine the laws OF every state
and II on examination the lawH Of any
state are shown to afford insufficient
protection TO holders. It's mort ga ges
shall be declared ineligible under this
act during the contis ,ance Of the laws
In question.
32.-The secretary Of the treasury Is
authorized to deposit United States
funds In federal land banks at current
government rates OF interest. the ag.
gregate OF such funds not TO exceed
5000. 600 n, any one time.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
THIS DEALER HAD REAL TACT
Stout and Thin Customers Use Special
Mirrors In Wearing Apparel
Establishment

A dealer In wearing apparel, noticing
that his stout customers and his very
to their figures, installed two full
length mirrors o., special design, says
Popular Mechanics magazine. one was
slightly concave and the other slightly
convex. When a stout customer tried
on suit she was led 10 the concave
mirror for self-inspection. and was able
to see her figure as 1t would appear
with It's measurements reduced. When
a thin person came in to try on clothes
she was taken to the convex mirror,
where the opposite effect was pro
hucrd.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
CBy " PURvis,

tBy " PCRNlS'
pairying IS e conhnlng business TO
be sure. II requires daily attention
and the work must be done with reg
nlariy, each duty requiring attention
az practically the same hour, week
after week. rain or shine. sunday,
Fourth u July and Thanksgiving.
1t is this everlasting routine that
prevents d great many from taking W
ra!rying as regular part OF the farm
work. il is the American dlstaste for
being bound doVI and hedged IN that
keeps the dairy part % our farm work
very much In the background.
Notwithstanding this undesirable
phase of dairying. II has some Gdyan-
taees which producing grain. hay or
1--we stock for market have not.
!; is business on which the opera.
tor Is able 10 count without much
danger c. having his plans mlscurry
on account Of wet or dry weather.
early or late frosts, or any other Of the
things which so often mar the pro-
.ects ot the most careful husbaudman.
With little forethought the dairy
man may be as free from worry about
the weather as any other man living.
Blow high or blow low the cows come
home aud the consuming public l.
re 3y 10 take all the butter that is
produced, or the cres merry or cheese
factory is waiting 10 weigh Ia the milk
and distribute checks every month.
This Is another advantage. The live
stock breeder must wait two, three or
five years fo- his cattle 70 get in
shape for market. the swine breeder
gets his money only once a year and
the sheepman is likely TO have his
profits Knocked away by tariff acita-
tlon on big crop Of wool in Australia,
or A sudden panic among the 'preda.
tory wealthy"
Empires may fail and nations disap-
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16

pear, until the map Of Europe looks
like a western landscape after cy-
clone. hut people must have milk, but
ter and cheese and the price gets IL
little better every year. No dairyman
need worry about the result OF the
election for Republicans, Democrats
and Socialists alike need the products
Of the dairy or they will not feel that
they are getting what is coming 10
them.
The money from the dairy comes
weekly or at longest, monthly, and 1t
IS a cash deal all the time The prices
vary with the season II little but they
run lines that take the same up
and down curves year after year.
Many dnirymen are trying to find
the method which will allow them
TO keep the largest number Of cows
On n given acreage. A much better
object would be sought II they were
to try TO secure the largest possible
number OF cows which will produce
a pound Of butter every day for ten
months OF every year Of their activi-
ties
Farm dairying isn't the poorest
business I'm the world by n good many
long marks, but American farmers
show disposition TO let the foreign
emigrant take the business and make
the money. which shows that Ameri-
cun farmers are not always awake to
the most profitable part of farming.
Money every week and the furm
getting richer every year ought 10 be
an attractive proposition. We ought
TO have more farm dalries and fewer
worn-out farms
The dairyman who does not set "a
hi-h mark. and test his cows regu-
larly and Systematically, will always
carry Ia the herd some cows which are
kept nj II loss, to reduce the average
OF the herd
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
EARLY HARVESTING OF OATS
Cutting Early Solves Problem OF Dis
posing Of Late Maturing Crops
Aid to Glover.

Early harvesting of oats for hay IL
the unusual practice suggested by the
farm crops department nj Iowa state
college as solving the problem of dis
posing of this crop.
As nurse crop for clover or other
legumes, the great objection is It's late
maturity. II oats are cut for hay when
the grain Is In the milk stage and
properly cured the hay secured is re
sarded by many as nearly equal to red
clover.
Remove the oats two or three weeks
earlier than usual thus exposing the
young clover plants ut time when
the hent of the sun is less severe.
This practice also lcnves more mois.
ture In the soil To be used In producing
II stsvlg growth of clover.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
FEDERAL FARM LOAN BANKS
ORGANIZATION.

Section 4.-One In each land bank
district branches permitted within
It's district. Officers: President. vice
president, secretary and treasurer d.
rectOrs, SIX representatives. OF farm
loan associations and three represent.
Ing the public interest Attorneys, as
All salaries hxed by farm loan board
and paid by bank. Subject 10 semian-
nual examinations by land bank exam
lner
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
MANY CATTlE-DlPPlNG vATs
rive Hundred and Forty Constructed
In Alabama During March
3a.9T1 Cattle Treated.

Fiv" hundred ana forty new cattle.
u'pr'hg watts were hullt In Alabama
curing the month OF March. making a
total In the state Of 2.2IS. In The
h'he counties In which systematic
eradication ls now In progress, 34yIl
cattle were dlprcd--nn exceptionally
large number for 40 early in Tho ve.r
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
KEEP THE CHICKS SEPARATE
Do Not Allow Young Fowls TO Run
Where They Are Likely to Pick
UP Disease Germs.

DO not allow young chicks to run
where older chicks or fowls have been
or to go In the coops and houses OF the
older chicks and fowls. because they
are likely to get disease germs from
such places which, while they may not
aNect the older ones, may Immediately
cause trouble for the younger ones.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
CAPITAL STOCK.

Sec. 5.-s750,c0O. May be owned by
individuals. firms, corporations and the
United States and state governments.
Sec. 5.-Shares. 81 each.
Sec. 5.-All stock remaining unsub-
scrlbed 80 days after subscription
books are opened shall be subscribed
by the United States and thereafter
only the United States government and
borrowers may acquire shares Of stock.
See. 5.-united States government
not to participate In dividends Al
other stockholders share dividends
equally.
Sec. 5.-The original capital stock
shall be gradually retired after the
stock held by farm loan associations
shall amount TO s7JO.OO0
sec. 5.-Not less than . per cent
of capital shaft be invested In United
States government bonds.
POWERS.
Sec. i3.-To buy first farm mort
cages within Its district aud to issue
and sell farm loan bonds.
Sec. 1870 receive from farm loan
associations interest and amortization
payments on mortgages and farm loan
bonds.
Sec. 13.-To acquire and dispose Of
real and personal property necessary
for the convenient transaction OF bust.
ness and land taken IN satisfaction OF
debts or purchased under judgments,
DEGREES or mortgages held by IT, Shall
aot hold title exceeding fve years
Sec l3.-To accept deposits of Sc
evrities or current funds from member
associations but pay no Interest there
On.
Bee. 13.-To borrow money on Sc
eurity and pay interest thereon.
Sec. 13.-To buy ana sell United
States bonds
Sec. i3.-To appraise lands for bond
issue and 10 charge applicants and bor-
powers the cost of land appraisal. ex-
AmlninR titles, recording and other le-
gnl -nld fees 10 be paid In cash
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
LOANS

Sec 12-Losns shsu be secured BY
trst mortgages OF land within IL. land
tars district
Section I1-To -un from 5 20 -
years with sn irritation and ut,h sd
diuousl optional prepEymsuts after
Eve year..
Sc l2-ln'c-es, 90 loans shan not
exceed 6 yer cent per 1nrrlo OF tie
unpaid principal
Sec I2-Borrowers shall pay S
per cent simple Interest on d@fauited
payments
Sc. i2.--Loans may Re made for the
following purposes and for 10 other
under penalty:
ts) To purchase land .or sg-icul.
tural purposes.
90 To purchase equipment fert:l.
lzer end live stock for the operation Of
the mortgaeed farm.
(cl To provide buildings and for tie
improvement; Of farm lands.
Cd To pay debts existing a, time Of
Organization Of the first national farm
loan association within the county
Sec l2.-MsIimum loan $1,000;
minimum loan 500.
Sec. '2-No loan shall exceed 30 per
cent the value OF the land mortga ged
and 20 per cent OF the permanent 10.
sured improvements.
Sec. l2.-No loans shall be made 70
any person who Is not az the time or
shortly 20 become engaged IN the cult
walton OF the farm mortgaged.
Note.-All applications FOR loans
originate with the national farm loan
associations or agents and all loans ars
made and closed by the federal land
banks. This does not apply to joint
stock land banks.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16

Sec. 9.-Associations may retain as
commission one-elghth OF ! per cent
semlannually from Interest payments
on the unpaid principal OF loans.
Sec. 9.-Assoclations may borrow
from federal land banks at 6 per cent
annual interest up to one-fourth Of It's
total stocbholdIngs I'm said bank.
Sec. 2i.-Reserves aud dividends:
No limit Is placed on dividend dlstri.
buttons after the reserve account. built
up from net earnings equals 20 per
cent ~ the capital stock and after 2
per cent Of the net earnings annually
thereafter are added to the reserve ac-
count.
Sec. 25.-Defaults must be made
good within 30 days after notice.
Sec. 2g.-Proylsion is made for dis
solution and the appointment Of a re-
ceiyer
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
TAXATION.
SPECIAL PROVISIONS.

Sec 6-Joint stock land banks are
made public repositories and financial
agents Of the United States govern
mept.
Sec. 6.-Publlc deposits cannot he in
vested IN farm mortgages or In farm
loan bonds.
Sec. l6.-Rates OF interest for loans
under 6 per cent are not subject 10
review or alteration by the farm loan
board
Sec. l3.-Shall receive 10 deposits
except public deposits.
Sec. characterization and other
payments constitute trust fund to be
Invested AS follows
(a) To pay of its maturing farm
loan bonds.
90 To purchase farm loan bonds.
tc) To lend ~ first mortgages with
In Its prescribed field.
CD To purchase United States gov
ernment bonds
Sec. 23.-Reserve and dividends pro-
yided for as In the case Of federal land
banks.
Sec. 29.-Provision is made for dis
solution and the appointment OF a re-
celver.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
JOINT STOCK LAND BANKS
ORGANIZATION.

Section lG.-A private corporation
subject 10 the requirements under this
act which may be formed by ten or
more persons with board OF directors
OF five or more.
Sec. l6.-May operate within the
state IN which It's principal Office is To-
Gated and within some one contingu.
osls state.
Sec. 2s.--Subject TO seminnnunl ex-
amlnatlons by the federal land bank
examiner.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
NATIONAL FARM LOAN ASSOCl.
ATOMS
ORGANIZATION.

Section TEN farm owners desir-
Ing loans aggregating s2O,0OO or more
may form such M association.
Sec. Its Affairs are administered
by five directors. including president.
vice president and a loan committee of
three serving without compensation.
and by a secretary treasurer with sal.
arg fixed by the farm loan board and
paid by the association.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16

or be made part ~ loan aud paid 10
tmortizstlon payments.
Sec l4.-To accept mortgages onIy
from farm loan associations and Ep-
proved agents
Sec. l4.-To accept deposits - ~-r-
rent funds only from 80 siockhp.dars
Sec G-To become financial agents
Of United States government aud de-
pository of public money. Public DE-
posts cannot be invested 10 mort
cages or farm losn n bonds.
Sec. l3.-To deposit lts securities
and current funds sub!ec; 20 check
With any member bank of The f~cersl
reserve system and 10 receive interes;
thereon
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
CAPITAL STOCK.

Sec. s.-Shares, s. each; t9) carry.
ing double liability; ts) may be owned
only by borrowers who are required to
subscribe 8 per cent Of their loan In
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
BONDS

Sec 20.--lssued In series Of SO go
or more, 10 demon nations Of 81, 81
500 $50 and 81 90
Sec. D.-May bear maximum rate
o. 3 PER cen; interest per snnum-
Sec i9-Mo-'ca md United
States government bonds equal in
snoun' % The farm loan bond, issued
are retained g. collateral security by
the land bank reE. strar.
Sec. 1.-THE outstanding farm loan
bonds shall not exceed - times the
capital and surplus
Sec. 2l.-Shau be guaranteed by
bank Of issue and all other federal land
banks
Sec. l7.-No issue is authorized
without the approval Of the farm loan
board
Sec. 2-Substitution o, nortga gss
and United States government bonds
held ss collateral 20 farm loan boads Is
permitted
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
TAXATION.

Sec. 2G.-The capital stock. sur
plus mortgages and farm loan bonds
and all income derived therefrom are
e1enp; from federal. state, municipal
aud local taxation.
Sec. 2e.--Reai property taken and
held under the provisions Of sections
IL and 10 is not tax exempt
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
CAPITAL STOCK.

Sec l6.-s2jOOOO minimum.
Sec l6.-Double liability OF share
holders.
Sec lG.-The United States govern
ment shall own none OF the shares OF
stock.
Sec l6,-No farm loan bonds can be
issued until the capital stock is fully
paid, although the bank may h-gn
business when one-hnlf OF the chpi .al
Is subscribed and paid IN cash
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
TAXATION.
SPECIAL PROVISIONS.

Sec. 26-same as applies to fedora
land banks.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16

So io.-To spp-slse lsnd to- mort.
gage through - lo4a committee O;
three
Sc Ito iuto-se aut bs--c-e
liable tof tie mortgages q - share
ao,ters
Sc. Ito receive and deliver the
p-r--eis q loans % borrowers
So. ii.-To acQal-e a-d dispose oi
property Necessary Tor the cuuvenieni
trSrsactlon ~ - business
Sec. ll.-To ISSUE cerri3cates o, de-
post fof not iongef than one year and
20 pay PER cent interes; thereon.
convertible into farm loan to1ts 81 tie
federal Land bank % i;s district.
SCI TO receive and trsnsni, 20
The federal land hank psymeuts Of in
,eres, snd principal and s-nortizsuoa
payments
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
PRIVILEGES.

Sec. i6.-May lend more than $1,000
to any one borrower, but not beyond
30 per cent Of the value of the land
and 20 per cent Of the permanent In
-ured improvements.
Sec. lo.-Loans are not restricted TO
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
AGENTS.

Sec. I5.--Incorporated banks. trust
companies. mortgage companies or
chartered savings institution, may act
as agents FOR federal land banks u no
farm loan association has been formed
in given locality after one year.
Sec. l5.-Borrowers securing loans
through agents are required TO sub
scribe 3 per cent OF the loan 10 the
capital OF the federal land bank
Sec. l5-Agen,s are entitled TO q
commission Of one-half Of per cent
per annun on unpaid principal of each
loan they negotiate and the bank shall
pay agent FOR actual expenses for ap-
prnisinP land. examining titles. exc
cutting and recording the mortgage pa
pers which shall be added to the face
| OF the loan.
Sec. lj.-Agents shall indorse and
become liable for the payment OF the
I loans they negotiate and the aggre-
gnte unpaid principal of such loans
shall not exceed ten times the agent's 5
capital and surplus.
Sec. 15.-APents are required 10
make good any default within 30 days
after notice.
Sec. l5.-All collections made shall
be remitted without charge.
SPECIAL PROVISIONS.
Sec. % 22-Amortizatlon ana other
payments constitute a trust fund to be
invested us follows:
(a) To pay or maturing farm loan
bond issues.
CD To purchase farm loan bonds.
tc) To lend on FIRST farm mortgages
within the district.
I'D To buy United States govern.
ment bonds
Sec. 23.-Iteserve and dividends: No
limit IL placed on dividend distributions
after a reserve account has been buis
mp from earnings equal to 20 per cent
- the capital stock and after 9 per
cent OF the net earnings annually
thereafter are added 10 the reserve ac-
count.
Sec. 23.-l,eserve funds 10 be lnyes,
cd as prescribed by the federal farm
loan board
Sec. 27.--Farm loan bonds are lawful
Investments for tduclary and trust
funds and security for all public de-
! poslts.
Sec. 27.-Federal reserve bank may
buy and sell farm loan bonds.
| Sec. D.-Provision Is made for dis
solution and the uppo!n;men; OF a re-
ceiver.
Eec. li.-No commission or charge
not specifically authorized In this act
shall be demanded or received
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16
POW

Sec. 16.-To lend money on farm
mortgage security.
Sec l6-To issue and sell farm loan
bonds.
Sec. l8.-To issue farm loan bonds
up to 10 times the amount of Its capI.
tai and surplus.
Sec. l6.-Except as otherwise pro-
vided II has the powers OF and Is sub.
ject to the restrictions imposed on
federal land banks.
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16

re v--pass, V-csc-Iest .or n4toa4l
'l--- .a11 1ssa. 4tions
So id-Icsss usy te made 20
f4--. owners regardless = whe;her en-
G. ~. i7 cai-vAloa oi the land mort.
sls~- - uot
S~c it-inte-sS. ~ loans shah no;
e1cvvt .ore than per cent. the io-
.e-cs, -.;s est2t she'd icr - lSsi se-ies
1, t.ncis nor more than s Per cent in
any case.
So I6-Co-rrnissons or other
charges rot specifically Authorized by
,h.s sct shall 10; ee demanded o. re-
cviveA
So el-issued n .eries O. So oro
% ucre, IN tv1ou!nsuons ot S., So,
sirp. s-nu ant s. loo.
Sc -u-Ma! teSr maximum rate o.
5 p@r cent Interest per sanum.
So l6-boats shall be s. engraved
az 20 te readily dis;lnguishshle from
federal ard bank bonds
SEC ,9 - Mortgages ard United
States government boods equal In
suoun, 10 The farm loan bonds ssued
are rete.aed "a collateral security ~
TIE land bank registrar.
SEC. l1.-So issue is authorized with
ou; the approval o. the farm loan
tosrA
SEC. 2T.-FederAl reserve banks are
authorized 20 buy and sell the bonds 0:
Joint stock land banks
Sec .2-SuhstitUtIon o. mortgages
and United states COVER nent bonds
he'd So collateral TO farm Loan bonds 10
Permitted.
Sc --.-l,s bonds are lawful invest.
ueuts for studary and tr1s, funds
AID security for al public deposits
TAXATION.
Sec 2s.-The capital stock. surplus
and earnings are subject 70 the taxing
powers % the state
Sec. 26.-lts mortgages executed Tn
der th., act and is farm loan bonds
and all Income derived therefron are
Farmers' champion. (Elgin, Okla.) 1912-1922, 1916-08-16

ne capital ~r-s o, tie ss~o.-sifo-
aLirh ~ turl s-ts--.s az tv-A.
amount o; s.ocE u The f.-te-Al l4zl
bank
Sc s-Shl-es are rsl3 fc- ]. czsh
~ fpj ihe sDc-l; usy - at1et % the
'4oe = the loan snd -etlre1 10 suo-ti-
Latlon psyneu;s AZ ps- iu sucA css~
'he face = the loan shsn 90; e1ce~i
he - per seat and - per cent ll-
itaton.
So. T.-Assess-iert o- shs-es nay
te leV-t for operating expenses /.
funds are 10; Otherwise available
The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1916-08-18

for the purpose of submitting 10 .he
nroperty tax payers qualified under
tho Constitution and laws of the State
Of Louisiana to vote at said elecOi0n
the following to-wit'
To levy a special tax Of four '4)
mills on the dollar on all the property
in School District No. 81, Parish OF
Jefferson Davis, Louisiana, subject
to state taxation, annually, for
neriod Of four az years, for the pur'
nose of giving additional aid to the
rublic schools in said District NO. IL
For the purpose of said election the
polling place will be the Town Hall IN
the Town of Jennings, louisiana ana
the following commissioners ana
clerk of the election nave been APP
pointed to serve at this election:
Commissioners. W. E. Coffin, Guy
Connally and Philip Miller; clerk d
G. Richard. >,
At said special election the poiis
will open at seven o'clock a. M a,lt
close at five o'clock p. m, and TIT
election will be conducted in accord
ance with the laws of Louisiana ap
pHcable thereto.
Notice is also given that at 9:3
i o'clock a. M, on the Goth day o
September, 1916, the Parish Schoc
Board of Jefferson Davis Parish, La
will meet at Jennings, Louisiana, an
l in open session proceed to open tn
A ballot box, examine and count tn
= ballots in number and amount, exam
t inc and canvass the returns and d.
n clare the results of said special ele'
t ton.
I This the 10Th day Of August, 19l
+ J. NJ. BOOZE,
o President of Jefferson Davis Paris
y School Board.
n Attest:
d w. P. ANNETTE,
A. Secretary of Parish School Board