The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-10-28

1 that there are various enterprises In
this section devoted to the making of
, fertilizer, farming machinery and farm
implements, as well as gins, nails and
wire fencing.
Moreover, it is pointed out that Bir-
mingham is most conveniently located to
serve to the best advantage the intensely
developed sections of the proposed district
known as the great Tennessee valley, ly-
ing to the south, the valley of. the Coosa,
Alabama, Tombigbee and Warrior riv-
ers, with the important Piedmont section
to the east and west This with other
advantages, are briefly outlined.
FARM MORTGAGE
Section 8 of the brief shows the signfl-
canoe of the Industrial Importance of Bir-
ming ham district to the future opera
tons of this new character of Institution
seeking to expand agricultural develop
ment by creating standard form of
Investment resting upon farm mortgage,
in the event farm loan bank should
be located in Birmingham. In this sec
ton it is contended that there are two
elements essential for the successful OPP
GRAFTON of the federal farm loan bank.
One of which is the organiza ton of farm
loan associations to serve respective COM
munities and to accumulate mortgages
for the farm loan bank, while the other
is the sale of the bonds resting upon
these mortgages
1t is pointed out that inasmuch as Biz
bingham is an industrial center with con
siderable money invested in the savings
departments of banks paying smaller
dividend than stock in this bank would
pay, that thousands of persons would be
glad to purchase the federal farm loan
bank bonds. Not only this, but that Bir-
mingham is a financial center is stressed.
This is considered one of the most APP
pealing features of the claims Birming-
ham as city, is laying upon the bany.
That the ponos viii be more readily
disposed of here than in other cities
seeking the bank is thought assured by
members of the committee. There is in
connection with this section a statistical
table showing the time deposits in the
Birmingham and adjoining town banks.
In this distct there are 1884 time ac-
counts with total of $12,5i9.625S9 stand
ing in the banks drawing on an average
of per cent. This figure would show
an average per capita of less than $500.
POINT OF LOCATION
In the fourth section they undertake TO
show the board the miscellaneous data
tending to show the Importance of Biz
mingham as the center of the proposed
district and it's value as point of loca-
ton for the conduct of the business OF
the headquarters bank In administering
the affairs of the federal farm loan
system.
Section of the brief further, or more
accurately speaking undertakes to create
a district which is composed of Alabama,
Mississippi, Louisiana, Tennessee, Geor-
gia and Florida. In this part the COM
mittee undertake to show the board that
this section of the state is really deserv-
ing of the bank, and outline some of the
many advantages enjoyed by the district.
The briefs prepared are not narrow in
scope, the committee being willing to ac-
cept the decisiontof the board in regard
to the exact location of the bank, but
being as whole for the bank to be
located in the proposed district as they
have mapped it out. In making the rec
concentrations in this section the commit
tee have borne in mind the three things
which must control the defense of the
single district The first of these is the
area covered by it; second, the volume
of undeveloped land which may in the
future become farming land, and, there
fore, need the facilities of farm loan
bank or which may be developed through
its operation; third, the volume of farm
loans now existing as shown by available
statistics
In addition to the data submitted in the
brief several speeches will be made, not
of any lengthy duration, however, and
the uSdTiH5 pTODdDly Will CoiiSiSl pilii-
cipally of the examination of witnesses,
and an interchange of questions between
the board and the farmers who are eX-
pected to be present.
According to members of the commit
tee while no farm loan associations have
been formed in the state, they have q
number of applications for blanks to form
such organizations from various parts OF
the state, consisting of Admission. Besse-
mer, Huntsville, Prattville and other
towns. In addition to that the committee
has on hand a number of petitions from
farmers in all parts of the state Then,
there probably will be large delegations
OF farmers and business men from towns
throughout the state.
BONDS DISPOSED OF
The characteristic paragraph of the
brief comes at the close, where the board
demonstrates that the bonds could be
easily disposed of, and that while not
making bid for the location of the bank
they have received expressions of Will
ingness to purchase these bonds, the
amount not in excess of 100000. The COM