Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1917-01-18

States Treasury Department and super
| ylsee BY the Federal Farm Loan Board
There IS one Federal Land Bank 10
each land bank district, and branches
permitted within its district. Its stock
may be owned BY individuals, firms,
Corporations and the U. S. and State
governments. Shares, $500 each
A part Of its powers are. to accept de-
posts OF current funds only from its
stockholders. To become financial
agents Of y. s. government and de-
pository Of public money Public de-
posts cannot be Invested 10 mortgages
or farm loan bonds. To deposit It's
securities and current funds subject to
check with any member banN OF the
Federal reserve system and to receive
interest thereon. Its loans shall be
secured by first mortgages on land
within Its land bank district. To run
from $ TO forty years. Interest on
loans shall not exceed per cent per
annum on the unpaidprincipal. Loans
may be made for the following pur-
poses and for no other under penalty:
To purchase land for agricultural pur-
poses. To purchase equipment, ferti-
iizer and live stock Tor the improve
ment OF farm lands. To pay debts
existing at time OF organization OF the
first national farm loan association
within the county Maximum loan,
$4,000; minimum loan, $1,000 No
loan shall exceed 20 per cent Of the
valae Of the land mortgaged and 20
per cent OF the permane-.s insured i'm
proyements. No loans shall he made
20 any person who Is not at the time or
shortly to become engaged In the cul.
tiyaslon Of the farm nortgaged.
CONCLUSION.
Momontous has been the year recent.
" closed. Il Seems not unreasonable
70 believe that The new year will sur
pass IL in events that will loom large
In The history of the world. Among
these will be the European war, and
tho possibility that Il viii aoon close.
From the tone OF the allies response
20 0crmany's peace proposition, Il Isl
clear, however, that there is no imme-
aiats prospects OF reaching the desired
end Germany's references to her
victories, quite ignoring she reyerses
suffered BY herself ana her partners are
almost equalcd by Che seornful Aila
siona 10 her opponents. The amount
Of business transacted. the bank clear.
ings, The exports, the earnings Of rail
roads and Of general business, all
establish new high records
Acknowledgements In cnmonths
ara almost ayc billions, and the i'm
ports arc lii4le over two billions.
Not he least gratifying figures are
The Insolvency statistics compiled by
pan's Review. which show commercial
defaults OF less than one hundred aud
ssssssss eve millions against more Than
shrce hundred aud tso millions 10 1915.
II II pleasant 70 know that 1915 has
baan rcc0rsi breaker ~ far o. our
own banks business Is concerned.
~ achievements having cKceiled those
0g a1g former year. We eannoi re-
frain from INDUCING ia word OF
commendaiion toward the forces that
hhse made possible this record II
esof corps Of clerical men have
hown their bank ssaaucher loyalty,
sls tpcs Is NOS within o9r knowledge
~ aeairr ~ make grabful mention
aEs0 ~ our vice President local atlor.
ney and other directors. TO scknoul.
edge the many Kind acts Of friendship.
good all and encouragement that have
teen accorded us.
That the hank enjoys The prosperity
ard patronage alluded 10 II not there.
fore after ~ rcnarkabIe, whcn 40 take
into consideration the loyalty referred
20.
Let as resolve that la th,s new busi
ness year W shall make ths most Of IL;
that We shall be glad Of cash days
accomplishments and pieased a. The
prospects ~ lomorrow euecess, That
- tine rolls ON SO shall Cad new
progress made toward the goal OF our
ambition.
And nov, for our friends, one and
all, we wish nothing less than your
happicst experiences Of the old year be
multiplied, May the 0iver OF all good
add His blessings upon our combined
efforts 10 make the new year The best
10 all our lives.
Respectfully submitted.
l.. r.. MuMFoRD, President,