The Springdale news., 1918-09-06
GrafOnolas, Harmographs, Pianos and Player Pianos Records and Needles. Come in and hear them played. C. w. BRENNAN. Agent
 HEWITT BUILDING
 L0gan's Old Stand
The 0ulnlne That Does Not Affect tbe pa,d

tu0 ou"WW ihot pocs Eot AIieCt the HoM Because of it's tonic and laxative effect I4y. TIVE PROMO OUiNINE IS better than ordinsrv Quinine and does not cause nervousness no, ringing in head. Remember the full na me snd look tor the signature oi |. W. GROVE. OS Bonds, in al. amount not 10 excssd two per cent of the assessed vamatio, of all the property in the State and to place the proceeds in the stats Treasury In a fund to be known as tho Arkansas Rural Credits Loan Fund"
 Sec 8 Said bonds shall bs issuv
 In denominations Of $2500 ,I0Og0
 f5eo 0o and tt.000,00. and shall be h.
 sued in series of t10 900 % or multi.
 ples thereof drawn to mature in m, more than thirty six years nor shall
 said bonds be sold until application, from bona fide purchasers of land az. gregating S10. .000 00 have been filed with and approved by the State Land
 Board. Said bonds shall bear interN, Al the rate Of four per cent per an.. nun. and shall be exempt from tar. aton by the State of Arkansas4 or any of It's subdivisions
 See. ( Said State Land Board fig su.
 thorized and directed to loan the mon.
 eys in said Arkansas Rural Credit. Loan Fund to bona fid. purchasers of farm lands in Arkansas. Hpon notes SC. cured by mortgages or deeds of trust constituting frat liens on such farm lands in amounts which shall not eY.
 seed seVentN=fixe Der cent of the 3D. praised value of such lands The cred. II or the State shall not be loaned to any person 10 purchase more than So acres of iant nor land valued at more than .50o0 per acre Nor shall a loan Of less than zoo % nor more than ss. n be made to anY purchaser Of land
 See }. Such loans shall not he mad. except to owners who Operate" and occupy" lands mort9ased and shall be made for the following purposes
 fal The payment for laHds purchased, tb) the purchase of live stock and oth. CT equipment and the making of irn- proYements which in the judgment Of said board will lncroaee 'he produc- tivtty of such lands or add to their value as farm hon in a degree to Justify such expenditures and tel for the satisfaction Of eneanbranees upon such lands. which. in the judgment Q! said board. were incurred or assumed by said applicant for the aforesaid purposes.
 See. 6. Every applicant for farm loan shall state clearly in his applica' uon the purposes fot which sueh ioan k desired, and upon it's approval W the board this statement shall be deem ed part of the note or contract unaef which the loan is granted. But ho failure to apply such funds 10 us purposes stated in such application os enumerated herein shall invaliaate loan when once made, nor shall any thing herein contained be deemed " prevent any farm owner from seliins or leasing lands subject to sueh III. iI cumbrance: but If he shall violate nls said contract by applying the mohe!s borrowed 10 purposes other than tioaS stated in his application or enumeFalse | Rh or sell them to any person not tuIhii- ing the conditions and purposes pIo' vided for herein. said board IS authoa' ized and directed to require The fepa! ment of said loan upon six months hy u tice, and said note or contract s,"' contain a clause providing theteioi.a
 Sec. !. Such loans shall be fspaI1 with interest accruing in annual stallments on the amertiza ton p,aJs p'as such instaliments being nNed Al su. ,a sums as will cover the interest aS iaS and will liquidate the debt Tn Pe'S to be agreed on between sala ooat ta and the applicant. said period 9.,g. W not less than five nor more han 1nnaa, mt, six years; but any debtor may ilau, as date any part or all of his indeptepnsss es. in amounts of 5000 or multiples lhe., of upon any amortization pasinsA' date.
 See. 8. The rate of interest on losn' oH vided. that no Farm Credit Bonas sna" nrn' be sold for less than par anu p,s 70. vided further that the board shaH aHH,.tsi quife each applicant to pay an aant. Ira charge of l per cent of the loan s.ta 0O ed. the minimum charge To oe sY to cover the cost of appraisal anu animation of title. ,,,e
 Sec 9. All surplus funds aeetuihss from the operation of the sysls,i, a,tsr rural credits herein provided toi' ears. S paying interest accruing on lhe atber said bonds. and all operating anu is,Ts. S expenses arising from the ad, l'lurs5ifs ton of said system Of rural efeu,,1y shall be placed in the State Treasltb.. and become a part of funi Soad,t Io known as the "Arkansas Rural IpnTal Reserve Fund" Said Arkansas tnnnsd Credits Reserve Fund shall be ,arein on o,,fi,, farm lands in the mann. mannef Rural crulng from loans made from said dEund kansas Rural Credits Reserve nart shall be added to it and become 1aLadIts a p of IL. The said Arkansas Rural ex. Reserve Fund shall be irreduelDieo, o re- cept that 1t may be drawn upon in imburse the State for loss lneui ot the administration of said sys'eA rural credits .,bly
 Sec. 10. The Legislative Assei9hSnIl shall provide in such detail as ont deem advisable for the carig us,,s of and administering of the prov lsi9a .si3a ad- this amendment. and shall pl"F4suiss siss of equate safeguards against the ehas- such loans as an aid to the put pa nur- ing and holding of lands Tor ssnN,T,ards poses of speculation. Such saIes inc shall include clear definitions sed terms Operate" and occupS Isgis- herein. In the absence Of sueh oFter lation. and subject to the sali,e paard its enactment, the State Lana avs shall proceed 10 administer sata and tenn ofa.Ipral credits under iuie sub regulations provided by itself paut.ained jeet to~the provisions herein coHt Con
 Sec~11. The provisions or at ln with stituthn of Arkansas in comm laa in this amendment are hereby rePearawith. so far only as they conflict headment The provisions of this amehp'ks ii take shall be self-executing. and sha. af- effect and be in operation tg dss the ter their approval and adoption - people of Arkansas. a aled
 Approved by the Governor state, In the office of the Secretary ol
 March 1T. l9f7 ,ainst
 Each eleetur may vote for or as
 the above amendment. . tbis.
 Witness my official signatui
 the 24th day of April l9lS S,ppaL
 lSeall TOM J. TEhh c,.iA