The Hays free press. [volume] (Hays, Kan.) 1908-1924, 1917-04-07
RATE A BOON TO BORROWERS
Federal Land Banks to Loan Money at
Per Cent on Farming
Land.

Dan +. Callahan, president of the
Wichita Federal Land Bank, has re-
turned from Washington, where he at
tended a conference of the presidents
of the twelve federal land banks with
Secretary Meade and members of the
federal farm loan board He express
ed qualification over the fact that this
conference had fixed a flat interest
rate Of per cent, applying to all
parts of the United States He de-
clared that this interest rate would
prove a great boon to the farmers of
the Middle West, and predicted that
within year the Wichita Federal
Land Bank will have made loans ag-
gregating to 10 million dollars.
Mr.. Callahan announced that the
bonds issued by the twelve federal
land banks would be placed on the
market at AZ per cent, but probably
would be sold at a premium.
To borrow from federal land bank,
farmers are required to organize them
selves into groups containing at least
ten borrowers and each group asking
for at, least $4,000 of loans. The
Wichita Federal Land Bank is now
prepared to furnish a blank form of
articles of association to make the or
gan1zation of these groups simple and
easy. Other necessary blanks will
also be furnished on application
Farmers are permitted to borrow up
to so per cent of the appraised value
of the land, plus 20 per cent of the
value of the permanent insured i'm
a.
on the amortization plan, which means
repayment by fixed annual payments
throughout the period of the loan The
loans may run from five to forty
years, at the option of the borrower.
The object of these long time loans
is to enable the, farmer to meet these
annual payments out of the increased
earnings of the land, made possible
by the investment of the borrowed
money.
Frontiersman Dead-John r. Cook,
pioneer frontiersman, Civil War
veteran. author and lecturer, died the
other night at his home in Wulburton.
Funeral services were held at the
Soldiers Home at Fort Dodge
Wheat at $2-The highest price for
wheat on record at Junction City was
paid when L. w Oesterhaus, a Gray
County farmer, sold one thousand
bushels to the Tyler Milling company
for 81 a bushel.
Riley County Pioneer Dies.-J. W.
Blain, pioneer of Riley county, died
at his home near Deep Creek the
other night. He was "a years old.
* *
independence Pioneer Dead-Wil-
liam c. Green, So years old, who had
been a resident of Montgomery county
forty years, is dead. He is survived
by a widow and six children.
* x
One Dead in Kansas Fire.-Jo-
seph Scott, cashier. met death at indie
pendence, and H E. Jones, bill clerk.
was probably fatally burned. when
the lower part of the Missouri Pacific's
freight station caught fire. Evidently
the two men smelled smoke and went
to investigate Jones managed to push
open car door and get out Scott was
found near another door with his coat
over his head. He was badly burned
and life was extinct.
x
Walks fs Miles to DriII.-MerIe
Stiles. farmer boy who lives near
Everett, recently enlisted in the Hor-
ton National Guard company. He
walks from his home to the armory
and back again, eighteen miles, in or
der to learn the rudiments of military
training.
Gives $500 to seIsians.-wiehita
raised. $4,000 for the Belgian relief
fund. It will be turned over to Joe
r. Marshall Of Coneordia, Kas., who
viii take the Kansas fund Of $4,000
to Belgium.
X
Blown OFF OIL Derrick. Eugene
Williamson, a wichita contractor, is
dying OF fractured skull in q local
hospital, the result OF being blown
from a 35-foot oil derrick near Doug
lass by high wind His head struck
a beam.
Pioneer Woman Dies.-Mrs. Ann n.
Kirham, the first white woman to
establish a home IN Leavenworth
county is dead. She was q years old.
Mrs. Kirham came to Leavsnworth
In 1854 and vas living there before