Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-28
WILSON NAMES MEMBERS
OF NEW FARM LOAN BOARD
\" Date for Their Meeting Can Be
Set Until Senate Acts on
Nominations.
IN OPERATION BY NEXT SPRING
CouEfTSst tosf3e DividcaS3Hasnnssi4lWy 4Wyssssiye ysssif
Districts, With Federal Land Bank
I'm Each Notwithstanding May
Begin i'm September.

WASHINGTON. July 27.--Division of
The country into twelve Federal land
bank districts and location of Federal
land banks in each of them, under the
new rural credits law. will be under
taken soon by the Federal Farm Loan
Board four OF whose members were
nominated to-day by President Wilson
Secretary McAdoo, who, as an cX onicio
member, completes the board. said to-
night however, that he believed il
would be impossible TO conclude organ
iation Of the system in less than six
months. and that it might not be in
actual operation before next spring.
The four men nominated to-day as
members Of the board are; Charles e.
Lohdelf Of Kansas: George W. Norris.
OF Pennsylvania w. S A. Smith OF
Iowa and Herbert Quick. Of West Vir-
Ginia. The President is expected to
designate either Mr. Norris or Mr..
Quick. tho Democratic members OF the
board, TO act IS farm loan commissioner
and executive head OF the farm loan
system.
Until the Senate acts on the nomina-
tons no date for "A meeting can be
set but 1t was believed probable to-
night tho members would get together
within TWO weeks. Hearing OH the
designation Of districts and the loca-
ton of banks probably will begin some
time in September. The first of these
Is expected TO be held here. and most
OF the state capitals probably will be
visited before they are concluded That
will require several months. and other
technical steps provided in the act pre-
liminary to actual organization OF the
bank probably will prevent operation
Of the system before February or
March.
LITTLE ron BOARD TO 60
ON IN FRAMING DECISIONS
Although III making his selections
the President named a lawyer. a banker
a farmer and an economist. il was
pointed out tonight that tho board
would have little 10 go on in framing
its decisions The vast amount OF in
formation collected by the reserve
bank organization committee two years
ago in alieninc the Federal reserve
districts and designating the Federal
reserve bank centcrs viii be virtually
vaiue!ess TO the new board. That COM
mittec paid particular attention 10 the
flow OF commerce and the channels of
trade and 10 informa ton from bankers
and gave little heed to the farmer.
About the only directory provision
in the new law is that the twelve Fed
cral land bank districts shal! be ap-
portioncd with due regard 10 the
farm-loan needs OF the country" and
that state lines shall not lie broken
III defining districts.
II was said Tonight. however. that
the board. III locating the banks. would
consider first cities which arc near
farming centers. regardless Of size or
other banking facilities. and that cities
which were candidates for Federal re-
serve banks, hut failed to get them,
would bc strongly considered for Fed
cral farm banks.
Requests for loans under the Law
already have been filed In large NUM-
hers in the Treasury Department. but
no action can be taken on them until
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