St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-01-13
FARM
LOANASSOCIA-
TIONFORMED
FOR PARISH

It has been shown that the rural
credit systems of Europe placed the
farmer on a much surer footing in
these countries than here, and the
United States Government institute
ed an investigation, sending compe-
tent investigators there to study the
system. Voluminous reports were
made upon these Investigations ana
| the matter was placed before Con-
! gress. On May 13, 1916, the Senate
passed this act as reported by the
| banking committee, there being only
five dissenting votes, and few days
later in the House with but ten dis
senting votes. The Federal Farm
Loan Act was reported 'by the con-
! ferees in June and had praeUcally
/ unanimous vote in the mouse anu
Senate and was signed by iresldent
Wilson July II, 1916. @
The object of the Act is the de-
velopment of the agricultural inter-
| ests of the United States. Its prop
I, er exercise will give the farmer every
opDortunity for success in his call
ing, placing him on a footing Win
the capitalist in obtaining money.
Every farmer becomes sharehOld-
er in the bank, for he must use hve
per cent of his loan for the purchase
Of stock, but this stock will be good
investment and will pay dividends.
By this method every farmer De-
comes interested in the business OF
| the bank and consequently interest,"
ed in the success Of every borrower
of money from the bank. 1t is CO.
operatiye concern, with every mem
her working for the interest OF every
other member. A penalty OF not
more than $4,000 or one years I'M
prisonment, Or both. is attacned loi
fraudulently obtaining funds. :,
Not over per cent interest snai1
be charged on loans. IL memDel
should borrow $1,000 for 80 years
he will have paid interest and princl
pal by paying $500 in semi-annua
|, installments. That is, $500 every
six months. This includes PEI
cent for general expenses.
| The least amount of loans tina
! must be pledged to organize loca
Farm Loan Association is $4,000
Such an association was organized
for St. Tammany parish in Covingto,
Wednesday with 81 members, as foi
lows: j. H. Warner. Capt. u. =
Millar. D. w. Diel, F. N. Bennett
Emile Fuhrmann, J. w. BlackWet'
Cleve Blackwell, Henry King, b. a
Taylor. Alfred jenkins, Ed. jenkins
In. C. Kuhn, B. Thompson, W. /
Thompson, A. M jenkins. Georg
Fendlason, Louis Heintz, M.
Planche. L. O. Martin, H. N. Fendla
son. Geo. Edwards, Arthur Stanga
L. A. Harper, Rich Singletary, Nor
man Core, H. B. Pruden, Joe Schnel
der. Harvey E. Ellis. John Cotton
Charles Green, G. A. Slattery.
The following officers were elect
ed: J. H. Warner, president; e.
Millar, vice president, e. v. Richard
secretary-treasurer.
There will be general meetln
at the courthouse Saturday, Januar
20, 1917. All who are interests
are invited to attend.
the strange young man aranot goin'
to arrive at your own home later a
guests, for that is apt to start SOM
, very serious complications.
That is the unfortunate predic'
rnetn in which Alice Altwold foun;
; herself after she had Introduced Ber
: niece Somers and Clevery rrafton t,
: her father and mother a9ssNr. ani
} Mrs. Gardner in order to avoid ex
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