The Springdale news., 1918-05-03
ppOGRESS OF FEDERAL
 LAND BANK, ST. LOUIS
rlansas Has Most Farm Loan AS
 oo;.t;ons of States In District All But Counties Being Represeh'eu'


 # Federal Land Bank of St. Louis' "i'o
 Arkansas man, being former a.;dent of Little Rock, furnishes lhe Ms the following information con .,ino the transactions of the lnst- .;o, from which it will be seen that 4bo farmers of this state, are aValiihg themselves of the opportunity offered +ho Government to borrow money nm long time at low rate of interest # snringdale was one of the first com munjties in the state to organize farm loan association:
 S The Federal Land Bank of St. Lotus was chartered on March 1, 1917, and # made it's first loan on July 7, l9lf. 2 Accepting the report at the close o1 8 bnsjness March 30, it is shown that # t22 farm owners in the States o1 A Illinois. Missouri and Arkansas nave # received a total of $4,112,90O In ae- & tual money paid out to them, the great h,ll of which was on the basis of , ner cent. although the present rate IS 519 per cent and the period 50 years, with the privilege of repayment of all or any part, in multiples of S25.0o, at any interest paying period after the fifth year.
 It should be borne in mind that the Land Bank does not lend direct to the borrower but only to members of d properly chartered National Farm Loan Association composed of ten or more borrowers. The organization of these Associations has taken consld- erable time, but where the Association has been perfected and the charter granted the loans to new members are considered separately or in groups, as they apply and are accept ed by their Associations; and, in many instances the applications of the new members are greater than those represented by the charter ap- plieations, showing that these Asso- citations are serving their sections in securing money from the Land Bank to the farmers of these sections in a businesslike way, as was intended and contemplated by the Act.
 
 The loans by States, as of March 30, have been as follows: Illinois, S948,9 ,94000; Missouri, $1,757, ,48000; Arkansas. $1,406 ,38000, and the loans in Arkansas represent 958 separate borrowers
 Of the three States Arkansas has the most Associations and in all but seven Counties, the farmers have or ganized National Farm Loan Associa- tions; and, in some Counties. as many
 as seven different Associations. It Is significant fact that the Counties that have County Demonstration Agents are the ones that are making
 the most progress in the organization
 of Associations to secure money from
 the Land Bank. In many of the
 Counties the farmers themselves have
 organized their own Associations, se-
 lecting one of their own members as
 SeeretaryTreasurer or business agent
 for the Association In other Coun-
 tles, the local Banker has seen the
 good that would come to his county
 as result of cheap money to. the
 farmers and the improvements and
 developments that they could do by
 reason of this advantage; and, in
 these Counties the Bankers are serv-
 Ing as Secretary Treasurers. In oth-
 CT Counties, the newspaper men are
 serving as Secretary -Treasurers. Tn one County in particular. the County
 treasurer IS the Secretary Treasurer:
 and, Tn that County more loans have
 peeh made, numerically, than in al-
 nioSt any other single County in the
 oCate' In one County in the rich, az
 "SNblOil d pIOUUlfle0L ALLOT-
 hey IS acting as Secretary-Treasure
 "Ho Tn other Counties. the local real
 estate men are serving the farmers
 as ouslness agents of their Associa-
 tlons Thus it will be seen that from
 al walks of life, practically all over
 'ne State of Arkansas, there are pro
 gressve business men who appreciate
 the advantage that comes to their sec
 uons by reason of the organization of
 Natlonal Farm Loan Associations to
 serve the borrowing farmers of their
 communities; and, to fail to give cred
 ', 70 the President of the Arkansas
 bankers Association and the mem-
 oers Of that profession for the good
 work they have done in helping the
 tanners of their sections, would be to
 iail to pay just credit where much
 credit is due.
 At this date, there are only seven
 0ouhtles in the State of Arkansas in
 ~ilch the farmers have not completed