The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1917-01-04
C0LUMb b|A WINS
FARM LOAN BANK
SOUTH CAROLINA CAPITAL GETS
ONE OF THE TWELVE INSTl-
TUTlONS.-
DISTRICT ALONG THE COAST
Will Open in about Two Months and
Serve Georgia, FIorda and Two
CaroIinas.

CaroIinas.
WashmgtOn.- a few days be.
fore the prescribed time Tor receiv-
ing New Year presents, Columbia was
given one Of the farm loan banks by
William G. McAd0o, secretary of the
treasury, and the members of the
farm loan board after one OF the most
interesting and exciting contests with
$50 other cities throughout the Coun-
try. Columbia did not win the fight
for the bank without effort 1t got
into the game when. months ago. it
was practically certain that there
would be farm loan hank in the near
future. Following initial efforts made
;t that time, it kept on fighting and
when about three weeks ago, it was
stated in this correspondence that it
might lose the bank, instead Of sulk-
ing its business men took hold of the
situation with renewed effort, the re-
suit being the presentation of the
bank. That Columbia has won the
| fight in competition with such cities
as Birmingham, Nashville, Jackson
vile and others, $50 of them alto
gether, speaks well for the concerted
business activity of the capital city
Had its citizens failed to keep up
their fight. especially when it looked
as il they were whipped. Columbia
would have lost, instead OF winning
magnificent victory.
The II cities in which are to be To-
Gated the federal farm loan banks
were announced by the farm loan
board, and it is expected that within
60 days the new system will be in
! operation, ready to make the loans fce.
which applications already are pour
country.
The Twelve Banks.
The banks will be set up in Spring
field, Mass Baltimore. Md, Columbia.
New Orleans, La, Houston, Texas, 81.
Louis, Mo-, Louisville. Ky, ST. Paul.
Mimi, Omaha, Neb. Wichita, Kan,
Spokane, Wash, and Berkeley, Cal
The IL districts into which the
country is divided were announced by
the farm loan board as follows:
District No. l, Maine New Hamp.
shire, Vermont Massachusetts Rhode
island Connecticut, New Yo"', and
New Jersey; district No. 2, ln&a II.
vania, Delaware, Maryland. Virginia.
West Virginia and the District of Co
lumbia; district No. 3. North Carolina.
South Carolina, Georgia and Florida;
district No. 4, Indiana. Kentucky and
tennessee; district No. s. Alabama
Mississippi and Louisiana; district No.
6, Illinois, Missouri and Arkansas;
district No. z, Michigan, Wisconsin.
Minnesota and North DekOta: dis.
trict No. 8, Iowa. Nebraska South
Dakota and Wyoming; district No. 9.
Oklahoma, Kansas. Colorado and New
Mexico; district No 10, Texas; dis.
trict No. II, California Nexada and
Arizona; district No. IL, Washington.
Oregon, Montana and Idaho.
I'm determining the federal land
bank districts and in designating the
cities within such districts VIII ere fed
eral land banks shall be located" the
official announcement says, "the fed
eral farm loan board has given care
1ul consideration to the farm loan
needs OF the country. The board held
pubic hearings in nearly every state
in the Union and in this manner col
lected information Of great value i'm
determining it's decision.
Every reasonable opportunity has
been afforded to applicant cities to
furnish evidence to support their
claim as locations of federal land
banks. More than rs cities applied
to be designated as the headouarsers
or bank and were heard through
representative committees and indi.
viduals"
The banks will be established as
soon as practicable Each will have
O capital Of $750,O00. Application for
loans have been pouring into the
board in great volume recently and il
Is estimated that sum more than 90
times in excess OF the combined cap
ital stock could be used In making
loans.
Almost the first work OF the banks
after approving and issuing loans
Will be the issuance of farm loan
bonds, new form OF security in this
country. The bonds will be issued in
denominations as small as $25, it is
expected, and will bear interest at
rate Of | per cent less than the in
terest rate charged farmers on their
loans.
Il