The Springdale news., 1918-10-18
Graf0nOlas, Monographs,
Pianos and Player Pianos,
Records and Needles. Come
i'm and hear them played.
e.. w. KEENAN,. Agent
HEWITT BUILDING
Logan's Old Stand.

the satisfaction OF encumbrsnees upon
such lands, which, in the Judgment OF
said board, Were incurred or assumed
by said applicant for the aforesaid
purposes.
Sec. 6. Every applicant for a farm
loan shall state clearly in his appllca-
ton the purposes for which such loan
Is desired, and upon its approval oy
tie board this statement shall be deem
ed IA part OF the note or contract unuer
which the loan IL granted nue nv
failure To apply such funds TO the
purposes stated In such application OF
enumerated herein shall inyailaate
loan when once made. nor shall any
thing herein contained be deemed 70
prevent any farm owner from seiihs
or leasing lands subject TO such ~
cumbranee; but II he shall Violate hls
said contract by applying the MONEYS
borrowed to purposes other than thoss
stated in his application or ennmerslsu
herein, or IL he shall lease such isnu'
OF sell them to any person not talhh-
Ing the conditions and purposes pr
vided for herein. said board IS authol
ized and directed TO require the repay
ment OF said loan upon six months M
tee and said note or contract sna"
contain a clause providing therefor.
Sec. z Such loans shall be repair
With interest accruing in annuai ~
staf1ments on the am0Ftlzat1oh pa,
such installments being liked AZ sun
sums as VIII cover the interest ias9 ~,
and will hquidAte the debt IN Peiipi
20 be agreed on between said poetu
md the applicant said period 10 20
not less than five nor more thah I'M ty
xix years. but any debtor may llaui-
date any part or alt Of his inaepts In,
IN amounts of $50 90 or multipies me-
y upon any amortization Pss
date
Sec. 8. The rate Of interest on loans
shall be five per cent per anaun' Pr,
vided. that no Farm Credit Bonus sha .
be sold for less than par anu Pr
vided further that the board sha trt,tsl
quire each applicant to pay an nj
charge of / per cent OF the loan a. "a
ed. the minimum charge TO be Slo'Vo
to cover the cost Of appraisal ana
animation OF title s,,tr,,
See. g. All surplus funds aceI uahs
from the operation Of the ssste,,
rural credits herein provided TOT a. - ~.
paying interest Hccruing on the AZ
said bonds and All operating ana othei
expenses arising from the adiAlhiA4,
ton Of said system OF rural CT e9 ..-,,
shall be pInced IN the state lteasut
and become part or iunI Lear
known az the Arkansas hufS p,.rai
Reserve Fund said Arkansas 1s ui a,
Credits Reserve Fund shall be ioahe1
on farm land in the manner g,,pai
provided for tire Arkansas huia'
credit Loan Fund and the lnteies1
ofutng from loaf made from ~ E,,na
kansas Rural credits ResetNe -
shall be adde1 rs III and become a II, .
Of IL The said Arkansas Rural cfealt'
Reserve Fund shall be trredaelpis -
cept that II NAV be drawn upon 70
imburse the state for loss lncutieu -
the administration Of SAID system
rural credits a,,l,
Sec 10 The Legislative ahs,s
shall provide in such detail 10 out
deem advisable FOR the carry las -
aud administering 81 the pfoslsiio,ns a.
this amendment and shali ptof - Of
equate safeguards against lhe ~
such loans a. an aid to the purena
ing and holding 81 lands TOT sne,,srds
poses of speculation suen - ~ the
shall include clear definitions VI ,sad
terms .onerat@r and occupy u.s.
herein. In the absence OF suen FER
lation, and subject to the sa u,e poard
its enactment the State i.4hu -
shall proceed to admlhis'e -'ias and
tenn or rural credits anaet h,St sI1b
regulations prov ided by itseit. a,tsines
feet to the provisions herein ~ conr
Soc II Tbe provisions OF ths ~ ~
stItutfan or Arkansas IN eohHts1 "a IN
this anapd,,fnt are hereby fepeaieeit 80
40 FAR only as they confilet NJ. s,,,.,nt
The provisions OF thls .hall take
shall be self-exeeuting. and 81 aaxs ar
effect and he In opera ll lsantfan bv the
ter their approval anu AeSs
people OF Arkansas -, and filed
AppraVod by the GoNeIhui, - state
In the office Of the Seefetaif
March L. 1911 ,or ar against
Each elector may vote ioi "
the above amendment .,ynature this,
Witness my official s a,S
the gath day OF April TrPRAL.
lSeall Secretary Of STAKE.