The Springdale news., 1918-11-01
Grafon0las, Harmographs,
Pianos and Player Pianos,
Records and Needles. Come
in and hear them played.
G.. w. KEENAN,. Agent
HEWITT BUILDING
Logan's Old Stand
Logan's Old Stand.

the satisfaction of encumbranees upon
such lands, which, In the judgment OF
said board, were incurred or assumed
By said applicant for the Aforesaid
purposes.
Sec. G, Every applicant for farm
loan shall state clearly in his appiiea-
ton the purposes for which such loan
= desired and upon its approval by
the board this statement shall be DEEM
ell Il part OF the note or contract under
which the loan is granted But no
failure to apply such funds 10 the
purposes stated in such Application OF
enumerated herein shall invalidate
loan when once made. nor shall any
thing herein contained be deemed 70
prevent any farm owner from seiilhs
or leasing lands subject TO sueh IN
cunbrance; but II he shall violate M
said contract by applying the moneys
borrowed to purposes other than mos
stated In his application or enumeIatse
herein, or II he shall lease such ishus
or sell them to any person not fulnii-
ing the conditions and purposes pr
Yided for herein, said board 10 autnoI-
lied and directed to require the tspa'-
ment of said loan upon six months no,
ttce. and said note or contract snsn
contain clause providing THEREFOR.
Sec T. Such loans shall be repaid
with interest aeerulng in annual IN
staliments on the amortization plan
such instnllrnents being nxed AZ sun
sums as will cover the interest M
and Will liquidate the debt In perloa
70 be agreed on between said ooafa
and the applicant. said period 10 Dc
not less than five nor more than thit9
six years; but any debtor may neul.
date any part or ali OF his Indebtedness
IN amounts OF $50 90 or multipies me-
of upon any amortization pa'hs''
date
Sec s. The rate OF interest on loans
shall be five per cent per annum pm
Vided. that no Farm Credit BONDS sha"
be sold for less than par, anu p.o
Vided further that the board sinai -,
quire each applicant 10 pay an nj,
charge of | per cent OF the loan 10 an
ed. the minimum charge TO DC 49,.
to cover the cost OF appraiser anu
animation OF title,
Sec. .. All surplus funds accru'nss
from the operation OF the
rural credits herein provided io'' 80.
paying interest accruing on Inc 49,
aid bonds. and all operating ana o, ,re
expenses arising from the aah'iiaH.it az.
ton OF said system OF rural efeuiss,
shall be placed In the State ifeasu
/ and become a part OF fahI S.st,
known az the Arkansas Rufh 49,
Reserve Fund" Said Arkansas hura,
Credits Reserve Fund shall ne ioans ta
on farm lands In the manner NO. 49,
/ provided for the Arkansas hula
1 Credit Loan Fund. and the th'ste "a
cruing from loans made from SAL r,na
kansas Rural Credits Reserve :,
+ shall be added to II and become pn :
i Of f. The said Arkansas Rurai ~ 49, ~ :.
Reserve Fund shall be irreducipi.,
cept that IL may be drawn upon " =,
/ lmburse the State for loss incur s, a ~
/ the administration OF SAID sss's''
rural credits .o,,hly
Sec 10. The Legislative As 4, ~ Il
4 shall provide In such detail ~ 81,
/ deem advisable for the CARVING oa =,
and administering Of the provisions -
/ this amendment. and shall pfosias a. ~
1 equate safeguards against the uss
/ such loans as an aid to the puis :
i ing and holding OF lands Tor ny "a,
/ poses of specula ton. sueh saiee tbe
/ shall include clear definitions OF "a
terms Generate. and occupy USE
herein. In the absence Of snch s,sr
| lation, and subject to the sam paard
! It's enactment the state Lam ,a avs
| shall proceed to administer a,e. and
tenn of rural credits under ~, sub
regulations provided by hseh, ~
feet to the provisions herein en-.
Sec. II. The provisions OF ,hs ssifh
/ stitution OF Arkansas In comm, "a IN
this amendment are hereps paraw,th,
so far only as they connie, nj
The provisions Of this a.'au take
| shall be self-executing, anu ~. A.
| effect and be in operation eo aA r. the
ter their approval ana aaep'
people OF Arkansas and nled
Approved bv the Governor, anu stats
in the office OF the Secretary
March II, 1917. - or AGAINST
Each elector may vote ~.
'hv Vs. apess NV official signature this.
the 24th day of April, lsis r,rppAI.
fssaD TOM j. TEhhS1..
toea'i Secretary OF StsaS