The Dawson news. (Dawson, Ga.) 1889-current, 1917-09-04
SAL LAND BANKS, RE-
by ORGANIZED, DOING
EMENDOUS BUSINESS.
1 AT Low RATE
boz LONG TERM OF YEARS

eral farm loan board farmers
&Dlications for 5 per cent. long
ms during July amounting to
,652, or more than a million
\ per day. During the same
the board approved loans
ing to $16,016,853.
board has just completed it's
bar of service, the members
been sworn in Aug. Z, 1916.
q the year the cooperative
system for farmers, estab-
hnder the federal farm loan
Z been put into complete oper-
d every state, and loans to
are now being approved at
of nearly one million dollars
4 About twenty-five farm loan
iOns are being chartered
bach association representing
$4,000 of loans.
100000 of Loans Wanted.
greater part of the year of
Aation has been consumed with
of dividing the country into
federal land bank districts,
BIZ to the farm loans needs of
4ious sections; the location of
Aeral land banks; the selection
b directors and officers; the
"a of federal land bank ap-
and the establishment of a
rest rate of 5 per cent. on
ortgages in all parts of the
States, The federal land
egan lending money late in
pg, and in two and a half
just closed more than 500
IN associations have been
ID, representing total loans of
#nately $40,O00,0OO. The av-
amber Of farmer-borrowers in
ISOLATION chartered is eighteen
loans average about $4,000
Additional farm loan .asso-
! now being organized through
/ United States will run the
4 loans applied for this year
Eond the $100,000,O00 mark.
r farm loan associations are
fed 1t is necessary for the lands
| members to be appraised and
(ts of title provided. More
70 hundred federal farm loan
|ers are in the field placing val
on the lands as rapidly as
n get to them. Approximate
.OO,OOO of loans have already
Posed and the money actually
ed to the farmers.
expected that the 5 per cent.
thus provided will prove of
assistance in aiding the
Of the United States to meet
sfeased demands for food oc-
+ by the world war. Before
crop is planted the federal
an system will have been COM
organized in every state of
IN and its services made avail
all the farmers of the coun-
p0rtgages Four Billion Dollars
sFalng to testimony compiled
Vlme of the consideration of
Fra farm loan act in congress,
~ volume Of farm mortgages
united States is nearly four
kuoilars, and the average in
Ea'e IA per cent. If all of
IortIgages are transferred to
HeraI farm loan system at 5
4 the result will be an annual
Il interest charges to the
u nearly $100,000,000 an
the act farmers are permit
oiFoW for the purpose of land
III rounding existing indebt-
livestock purchase; clearing
lnlng land; construction and
inents and the purchase of fer
nG any equipment necessary
uIIy,iVation of the land. The
united to so per cent. of
alsed value of the land, plus
vent Of the appraised value
permanent insured improve
/, OIIJ;gages under this act are
me amortization plan and
eraIly for SO years. The
make annual payments equal
H. cent, 8 per cent. paying in
NJ per cent. being applied
t4iinclpal. The 1 per cent. APP
4 'n ne principal annually wipes
r. Lne end of SO years. The
.. mas the right to nay all or
VI me mortgage after it has
way and May Not Borrow.
Rers and prospective farmers
H. ow, Land leased to tenants
H. oe mortgaged under this act.
n 'p capital cannot be used
i SPECULATION and land mo-
each. arc iiiii,1eu 10
1 F9at volume of capital which
ttG9aned to farmers is pro-
me sale of bonds to inves-
tanks lend money and take
.eaigsaagg !; in return, they issue
''hst the mortgages and sell