The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1918-09-04
Federal Bank Grants lis
Credits on Farms in
This State
TOTAL FOR STATE
EXCEEDS 100000
One of II Farm Loan Associations in
Vermont is Situated in Brattleboro-
Requests for Loans in State Amount
to More Than a Million.

SPRINGFIELD, Mass, Sept 4.-One
hundred and fifteen Vermont farmers
have been granted loans by the Federal
Land Bank of Springfield, Mass, for the
purpose of increasing the efficiency of
| their farms, under the federal farm loan
act of 1917. The total amount of money
now out in loans in Vermont is 500, 455.
Two hundred and eleven more Vermont
farmers have made application for loans
and the total amount of the outstanding
and asked for loans reaches 81 ,0a3 ,367.
The loans are made through local
branches of the Federal Land Bank, COM
lmonly known as National Farm Loan as
lsociations. A farmer may borrow money
on his property for the purpose of pur-
chasing agricultural equipment, better
lgrade live stock, the making of improve
ments on his structural belongings on the
farm the purchasing of seed, fertilizer,
etc, or the development OF irrigation and
many other things or prospective farm
er may borrow money on farm he de-
/ sires to purchase.
, An appraisal of the property on which
a loan Is desired is made by the local loan
: associations officers who report to the
lbank in Springfield. Then the bank sends
{ an appraiser to visit the property. After
' the two compare appraisals the banl
considers the loan and in about three o.
/ four weeks the loan may be made. 4
loan may be secured sufficient to cover 81
: lper cent of the actual value of the lane
! and 20 per cent of the actual value OF tn
. property or the desired improvements
: Thus farmer can get 40 per cent OF tn
entire value of his farm. The farme
! lpays 6 per cent interest for his loan
: which can be paid up entirely after fly
years or let run for 40 years.
The Federal Loan Bank has had 3,5I
applications for loans on farms in tn
eight states that comprise the First Fed
Is eral Land Bank district, since it started
a total of Sl0,S97 ,253. 1t has granite
4 loans so far amounting to 1881 ,la5.
d The distribution of this amount in II
Q, eight states follows: Vermont, $500 ,455
h Massachusetts,, 1851 $50; Maine. sS07
lie 524; Rhode Island, Sls0,560; New HamI
shire, Sl64 sos; Connecticut, 81 ,l54, 44j
A. New York, s4,55s. So; New Jerse,
y S1.247 SIS.
Re There are II of the National Far
D Loan associations in Vermont and eigl
OF these already have received their fet
eral charter The names of these assoeis
4 tions with the names and addresses
] their respective secretary treasurers al
!" as follows:
a Caledonia County \. T. L. \. of S
! Johnsbury Leland A. Wood, sec. treas
st. Johnsbury.
Champlain \ f. L. A. of Burlington
". V. y. Ring, sec. treas, Jericho.
80 Chelsea n F. L. a. of Chelsea-G.
i Patterson, sec.-treas., Randolph.
! Fort Drummer n. F. L. A. of Brattl
~ boro-R. L. Burnham, sec-treas., Brattl
~ boro.
~ Middlebury \. F. L. A. of Middlebury-
- NJ B. Morrow, sec treas, Middlebury :.
\, Marble City n. T. L. A. of Rutland
" 7. G. Spencer. sec. treas, care Baxter y
10 tional bank, Rutland.
to First \. f. L. A. of Montpelier
20, Abbott sec.-treas., Montpelier.
ld Orleans Y. i. l.. A. of Newport-H.
Johnson, sec.-treas., Newport,