Arizona republican., 1916-11-14
FUR ]
 FARM LOAN MEETING.

Prank R. Wilson, of the information division of the United States govern ment. was a Phoenix visitor yesterday, spending the afternoon in this city, for the purpose of completing arrange ment for the federal farm loan board hearing in the federal building here Saturday. The purpose of this hear ing is to learn the farm loan needs of farmers of Arizona and to establish boundaries for the twelve federal land bank districts.
 "The farm loan act was adopted for the benefit of the farmer" said MT. Wilson, and the board is desirous of talking to the farmers of Arizona when it holds its meeting in Phoenix. For this reason, l urge that every one who can possibly do so, be present at the meeting. In this manner they can tell the board first hand their farm loan needs"
 Mir Wilson announced positively that Secretary McAdoo will attend the Phoenix hearing, as will all other mem bers of the board, including George w. Norris, Herbert Quick, Captain w. B. A. Smith and Charles E. Lobdell. The board will arrive in Phoenix Saturday morning, leaving early the same night It will then be on the last lap of its 2J,O00- mile tour of investigation in all the states, gathering information about the farm loan needs of various sec tions. During December it will digest this great mass of testimony and out line the twelve bank districts. The banks will be established soon after the first of the year and it is hoped that they will be ready to lend money for agricultural purposes in February.
 "The farm loan act has met with a
 
 try" said Mir. Wilson. "The south has been particularly aggressive in or ganizing to take advantage of it's bene- fits. Naturally. the sections which have suffered from a curtailed credit will be the first to grasp the new op- portunities provided under this act.
 "The government will establish twelve federal land banks, each with capital of $75O,OOO," explained the visitor. And the government itself will subscribe the original capital. Farmers, to borrow from these banks. are required to group themselves into national farm loan associations, prob ably one for each county or commun- ity. These associations must have ten or more members, made up of farmers or prospective farmers, who want to ! borrow These groups borrow in bulk ! from the banks.
 "The organization of these groups is required in order to provide the ma l. | chinery for governing the banks, for | the valuation of lands. for the crea- | ton of a local responsibility and for , the elimination of worthless accounts. ] These local association of borrowers are the foundation stones for the whole | system and through them the system ais made purely cooperative and ~through them it's ownership and con- i trol are kept in the hands of the farm 1 CTS themselves"
 Farmers are permitted to borrow up to 50 per cent of the value of the land l and if a tenant desires to borrow to | purchase land, he may get the 50 per | cent possible under this act and then 1 he may give a second mortgage toNthe i original owner for the difference. Sc ! it is expected that the act will enable l many tenants to become land owners After the original capital of these l banks is loaned, the banks get addi- Shields. Roy Beloat, John Ciago ans :, Arch Sanders.
 Second Events-Ladies' broncho rid ing for $50 cash prizes. Prairie Lii. Dr., ,f,.f-.