The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1916-08-11
Provide. System For
Lending Money on
Farm Lands at Rea-
son ab.e Interest For
Relatively Lons Pc
RODS - Amortization
Plan For Easy Repay
ment Prescribed q

money with which TO pay for his assso-
ciation stock be may borrow the prtce
OF that stock a. q part Of the loan on
his farm land
Under this plan. then. every borrower
must be & stockholder In his local asso-
c1ation and every association . stock
holder In It's district hank Each stock
holder In an association 4 liable for
the acts OF that association Up 70 twice
the amount OF his stock
How Loans Ars ohtainsd
A member OF national farm loan a.
ISOLATION before obtaining loan ==rst
nrst I'll out an application blank sup
Piled TO the losn association By the
federal farm loan hoard This applica-
ton blank and other necessary papers
VIII then BE- referred 20 loan commit
tee OF the associatSon. Uhieh must ap-
praise The property offered a. security
Such application a. Is approved by the
loan committee % then forwarded %
the federal land bank and must 10 In
vestgatAd AMI reportei 90 by sal
AIRED aryraiser Of TIE bank before the
lDan II granted This sppraiser Is ~
quired 10 investigate the Solrency ami
character Of the prospective borrower
- wen IS the vulos % his land WDen
q loan = grantei ths amount = for
uarjei 70 the b0<rvveE through the
loan ssenctattn
he act sVeciocasy o-ffnes tn pur-
puses for Witch bebS may be otssinsd
These are:
Oal To rrv~sse ~ o. p-E--n~s q nni
fcE Agricultural -
~ To p-uTs3s for ~ ru-r.sse- q eTuts-
r1ezt. fertlllzz-s ard live stock u@cozElry
for the p~up~r ard rrzsupsbis ot-rEtio-
u ire roorts,ee-i fA-Ta. t5s tern equip
rn@rf- 20 - tedn~i b. the FEDERAL fAr-a
loan SoaT-1
tc. To r-uvsie h-r.ltinss and Ter the iza-
rsrrvtrasnt q far-u lsnaA TIE tern TIN
p-uremezt- 70 be seaa~t ~ ths fsts-ai
farm loan board
CtD TO ltraita;e iusseb,-s-1ess q re ov1-
81 q TIE lard ursrtEAsed existing Al Ias
tine Of The or-anlEafhon - the nrss IA
ssonal farm IoAn as.cc.stiuz oszAhliss~i Il
q fDr TIE couaty n which ths lana mort
gzrSd e situated OF tntehtetness E-sss-
greatly incurred for ore q the purEo.es
uentioned n this s~cticn
Loans may b made only on hrss
mortgzres on farm land
Only those who own and cultivate
farm land OF are about 90 own and cul
firafe such land are entitled 20 borrcv
No one czn borrow save for the pur
poses stated n TIE sct. and those who
after borrowing do not use the money
for the purposes specified IN the mort,
Eaee are liable 70 have their loans ~
duced or recalIesi Tie secretary -tre=s-
urer q each association = required 10
reporf any dfversIoa q borrowed mon
e from the purposes stated n the
mmtnEes.
No Individual can borrow Dorr than
$1,000 OF less than 800
No loan may BE made for more than
50 per cent Of the value % the land
mortgaget and - Per cent Of the vAine
Of the permanent Insured improve
u1ents upon IL
The loan must run for not Iess than
I've and nnt more than forty ye1rs.
Every mortgage must provide for The
repaynent Of the Ioan under an amor
ttzAtion pian By means OF fixed nun
Der Of annual o. serniannuaI install
ments sufficient % meet al interest
and pay on the debt By the end Of the
term Of the han he installments re
quired VIII - those pahliShs-i in amor
ttzation tables % be prepared By the
farm ban hoard
me Fre--sst Rsts Paid ~ ths Bo--
rcSer.
No FEDERAL land hank = permitted %
charge r11re than 9 T.cr cut Per Hnrurn
on its FIRM mortgage bans, and n no
Csc shall TIE interest," chsrrs-i on farm
uortzagss e1oe-t b. rG-e thsn l per
cent TIE rae paf ca the last issue Of
bonds
For eIzrapsr. n The tank rsys only 4
PER cut % a. tssse % bod. = an
D< ch-r-e Nov tlsn : Te- c-s. f-4 the
next f4-zu lr-ris a makes
out Il this ms-z-a q ne 10 er-si
pr- CRIT tS-sb~s With -r-h srnrzsts
a. II can er-l CT frs ps,id n c-.h -
ftsl tie b.nk Ervz ~ sStte -r-r.fn -
H-vrs AM m--- AZ - .xlsur-~ Arg
taarsrs - ~ pr-r-S c,n Be --trrs-
uted - divtisoss 70 o. han a-.si-
at1ocs - ottse Sss4lssk-x II, Gan
assU4.fSu- IRON tlssr t&rss dfvt.e-Is.
AMIR srffns aFiie IT, -y-lutr,-i ~
servSs ma rse<1ng e1psrsss. an fa-
clare sss-.tacl1 tiridenis 70 their
members. In ths way To i-,sn,a U
any, win IN Distributed arsr--x Tie h.r.
rOwr-s ami VII 20 thst exttn, rpipcr
the amount Of intE-rst actually poti b.
them.
The federal lsnd hanks are sT-41ncsA
" prohihited NON charginr IN clnnec,
ton with making han any fc,-s az
cun,nisSions wtich eue not authorized
by the farm loan buari The rr-as1r,
ire-i FRS need not T. raid IN advance,
but may b. inabe par, % the han
Amortization Plan ~ Replying Loar.
II has lecn saA tat AZ leans sre n
D. Np,d m H.. smsrtiss,or Fssn,
TIL. p'sg ms ~ {. rutrssr o. s.si
49, ~ q psrcr'ys3 lvrrrt~ wsSA
ssr' ~ -, - stser -
ct4 ~ 81 So ~
49, y ~ =. * -
y -,saN tfs'f~N