Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1916-10-19
Maketh the Heart Sick
Hope DeerredOny Faith the Shadowy Substance of Things
Hoped For---Tha Smart Carpetbagger Asks Questions
Oueting the Titles Cousin Ned to Farmer Ben.

Ing, just dS IL ne MIC" HOW W ldTll
better than you did. He dosn't tell
you what he going to appraise your
farm at and that's all you want to
know from him. Why, he wouldn't
know a Poland China hen from a
Plymouth dairy sire and if he tried
to pillow, like as not he'd go back
wards. So you ten farmers wink and
laugh behind his back, until the smart
carpetbegger shakes hands and de-
parts.
Ten days more go by, and then the
secretary gets another letter from the
Federal Land Banker who says he
regrets that the appraiser was obliged
to report that all your appraisals were
thirty per cent too high and that Tom
Edgely's and your own were forty
per cent, too high. 1t would be neces-
sary, therefore, to refuse the loans to
any of the ten members without re-
appraisal by the committee of the
Farm Loan Association within the
maximum limit set by the banks ap-
praiser-that carpetDagger, you know
1t does not soothe you to be informed
by Squire Brown that you nave to pay
the cost of having the carpetbagger
appraise your farms.
You hold a meeting and "cuss" that
|carpetbagger, but that does't get you
your loan, so by majority vote, you
instruct your appraisal committee to
try again. About that time Tom Edgely
gets mad. He's a air-tigger sort of
a fellow, and he pulls out of theFarm
Loan Association and gets his loan
through Squire Brown but the rest
of you decide to go ahead.
Then the banker writes you that
nine farmers cannot form a Farm
Loan Association-therem must be ten
or more. You can't persuade Tom
Edgely to come back, for Squire
Brown already has his signed applica-
ton, and that binds him. There don't
seem to be any other farmers who
want to borrow except Widow Nelson
and she wants only $500 and that
wont make up your total of 100000.
So it is all off for several weeks,
but just about Christmas another
neighbor turns up for loan of 5000
to enable him to buy the farm next
to his, and after another delayed trip
by the carpetbagger, his appraisal is
o. KID and your Farm Loan Associa-
ton is ready to go ahead. All ap-
praisals are satisfactory to the bank,
now. though some of you feel insult
ed by the value they put on your land.
Now surely you expect your loan
to go through, so you will get your
cash before spring plowing-in fact
you look for it in a few days, for the
Washington's birthday, the secretary
or n nt he ha, be hot Go
Sticks great grandfather had given
a mortgage on this farm which had
not been paid when he died. The
of the great grand
fathers estate made division of all
the property and this farm fell to
Sans grandfather subject to mort
gage. Later the grandfather paid the
mortgage but never put the satisfac-
tion of mortgage on record-and
there is no proof that he really paid
it. Some years afterwards, the ad-
was closing up his affairs
with the great grandfather's estate,
and, knowing that the mortgage had
been paid, in the general settling up
of the estate, he filed for record a
of mortgage secured by
him as administrator. or course this
was years before Sam was born.
But now the title examiner finds
that the deed, subject to the mortgage
was given to the legatee, Sans grand
father, prior to the date of satisfac-
ton of mortgage, to be given to the
legatee and not to the administrator.
Both the administrator and the leg
atee have been dead thirty or forty
years and so there is cloud on Sans
title. The Government takes no
chances; every cloud must be cleared
through the court, before a loan can
be made to Sam, so the banker writes.
He estimated it would take six to
eight months in tn process of court
to quiet the title. You felt sorry for
Sam but as you had homesteadedy your
farm, your title came direct from the
Government, and so you rest sure there
is no speck Of cloud on your abb
stract. So your secretary writes to
the bank to hurry along the other
nine loans and says Sam would hire
Squire Brown to quiet his title just
as soon as possible.
In a week the banker replies that
without Sam, there are only nine of
you in the Farm Loan Association,
and so none of you can get loan
from the cooperative Rural Credits
Federal Land Bank, while there is
that cloud on Sans dead grandfath-
er's deed.
That is why all you nine are going
to give up your cooperative credit
National Farm Loan Association and
see what you can do with that new
ioint-stock land bank which is being
organized in the city under this same
new Rural Credits Law.
Next time l write you, I'll tell you
what you are up against with the
joint-stock bank. That's a corker.
Your affectionate cousin
Rem