Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1916-07-27

49,, -. 49,. H., -, n,
10 he an officer or director of any other
institution. association or nartnersbin in
banking or I'm the business of making
land mortgage loans or selling land mort
rages
r,pN loan DAWES
ne c'n'"'e'''a' "',eu o'".es' eNc'n-
u'S'ri'tS' eaVh KNOWN as ie"erai lano-
Jain ui9'il'" "l'i'''loIeu WIN ieS"iu "
inc larin-iohh needS Oh 'he country put
nv u''''.o' ''"i. CONTAIN a. i'"''''''t'i p''
Vi any ota'e' III each u'S'r'ct ieoera'
,''',' "''"N 10 ~ NC ~ wy
"a. "' nan "'' We i-'N' ''e'"'
ii -'"''u .'''"h 10 " NC .e''i''' al NY "'"''
~ n'"'u Va "'e Va LUIS ".f''
Z" ny ''e ieue'ai i"''h 'o"" "o"'u' i"e
W ca"
l'"'' oai'k Is W oe unuer ''e 'irec'io' oi
" "o"'u 'ois'"'''iS " '''''e u'' ectoiS' d"
VI these shai' ne Known as iocai uirec'ors'
anu are ~ pe 'noSo" Wy anu "e fePie-
se''"''Ne Vi i'a''oi''' iari' '-''''" aS9o' Id
luis LIE ''''er '''ee "ic''''9 a'e W "o
N"'"h as u'S'i'' uileN'''' D anu "'e ~ 10
appoi'''eo 10y ''e leueia' i"''i' '''' oo"'u'
STOCh OF LAND BANKS.
Every federal land bank must have a
capital of not less than $4,000 The cap
ital stock Of each federal land bank is
olFloeu mo sha'eS Oh - each lhese
Sh"reS may ne subscribed ior ana he'd
oN any 'hoiN'o "ai' urn or corporation or
pY the government OF any STATE or oF the
government Vi '"e OHi'e" Hta'es' STOCK
o""e" ny me EoNcri'neh' VI 'ne 'H''eu
E'"'c9 /" ieuei"i 'hi'u paiihS II nv W
snare III VI receive any ulNiuei'uS' All
o'"er s'och ls U snare III "iNluehu ust'l-
ou'iohS N'.houl preference IL Incomes
the u"tN OIL the farm loan BOARD as soon
as Pr"''icaole AFTER the passage Oh TINS
law TO open BOOKS or subscription Tot 'he
capl'al STOCK or the 1ederai lana nank III
each federal iahd-hank dlstrict' II WITH
III o. "aNS "i'c' opening t"e S'ooh su"-
ScriP''oh DOCKS any part Oh 'he minimum
capl'aii"ation oil Sh"''" snail remain uh-
S"'S''l"'u IT. 'heh peooihes the ou'F OIL
'he SeFre'ar! OF the treasury 10 subscribe
"''u W pay i"r ''e oaiaHce trereol ior 'ne
h'teu states government nieht say
mere Una IL II ''ie 'orSe''Sus VI oI''i'o" Vi
'hose VINO nave given me most study 10
'"iH pi' 'H"t pray 'icaIls all IL ho' an ''ie
oris'nal STOCK SUBSCRIPTION TO me federai
'' ~ ''''i '"iN' WI i''N''"'''H nave ~
10 ''i"Ne "H 'he ieuer'i governments
RETIREMENT OF CAPITAL.
When the subscriptions of capital stock
by national farm-loan associations shall
amount to $4,000 in any fedora, farm
land bank the bank shall then apply semi
annuallv q per cent. Of all sums there
paymont and retirement of the shares of
stock which were issued to represent the
subscriptions to the original Capital of
the bank Thus when all the original ca D.
ital stock is paid for and retired. the then
capital stock of the bank would all be
owned 10y farmer borrowers.
The federal land banks and joint-stock
land banks, when designated for that
I purpose by the secretary or the treasury,
shall lie depostarics Of public money, ex-
cept receipts for customs, and they may
also he employed as financial agents for
the government and must perform all such
| reasonable duties as depositaries of pub
! lie funds and financial agents ot the gov
eminent as may he required Of them. Nc
| government funds deposited, however, are
/ loan bonds
Any 10 or more persons who are the
owners or who are about to become the
| owners Of farm land qualified as security
/ for mortgage loan under this act, may
subscribe to articles of incorporation and
"rt"'''|' ha'oh'' lar'n-loan aSSo'la'"'
ana ~ "'e '""'''r i"r 'he same l'"''
'''o ." i"''" i,''" '''"' III "'"N"''
"Pp'''"''o' Tor 'har''r' the subscribers
or ''S'"'"o'S ~ '"' "''"n'' i"r"'-'""'
"'N'' ''"r ''''9' "'"Ne aPP''"'Ioh |" -
."e i'r '"e''Sol>'H rom inc i"'n NV
aanroon,o an,o,',,, 80 200 Ice ,,a, sao NO
no ,oo, - no co,. ,oss than s,oo ord non,
for marc tbor s1ono rbo cborter grant
-, a,, ro,to,o, .or,, ,oo,, ossooiot,o,
1a.i,,,,,,o. ,,o ,or.i,or,. T., ,,hio,, .ho 90
,ooia,io,, ,,,o,. onaro,o o,,d n,oLo I,..,s
1,,.o,,, ,o,ioro, forr,-,o,, oseocia,i 10,
nus. oloo, . hoor1 ~ NOT loss ,bou rv
,o,,,,o., o,o, oc ubor, sbou aurira IN
,a.,, 80 IT,. ,o,,a ha,a s,, rasidar
., tho ,orritor,. n.i,bi,, u,bicb tbo o,so,ia
,I..,.,. - ,,,,,,,a,i,.., a. It..
1,,a haana -, atrao,or.. s,,ou Than otaos
.,,,.a.,.,. ,.o,,n,,ra. ,,.ha .,,,,u .i,.
49,,
,a.a shah ao,o.,,,i,,o ,r,,a a.o,a.,
,..... .....' -, 49,. ,--.,
", '''''''''' 4"' a. ~.
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