The Springdale news. [volume] (Springdale, Ark.) 1887-1990, 1918-06-14
Piles Cured in o toI4 DAVIS


Your druggist will refund money il PAzo
OINTMENT fails to cu,e any case of Itching
Blind. Bleeding or Protrudipg Piles in to IA days.
The hrst application gives Ease and Rest. Soc
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i 3onds. in at amount not TO exceed
two per cent OF the assessed valuation
Of all the property in the State. ana
to place the proceeds In the State
Treasury in a fund 10 be known as tho
/ Arkansas Rural Credits Loan Fund
Sec 3. Said bonds shall be issued
in denominations OF $500 10000.
$4,000 and 81 10000. and shall be is
sued in series of $4,000 90 or multi
Piles thereof, drawn to mature in not
more than thirtysix years nor shall
said bonds be sold until applications
from bona ide purchasers OF land ag-
gregating $4,000 60 have been fled
with and approved by the State Land
Board. Said bonds shall bear interest
at the rate OF four per cent per an
mum, and shall be exempt from tax
alton by the State OF Arkansas or any
of its subdivisions
Sec 4 Said State Land Board Is au-
thorized and directed to loan the mon
eys in said Arkansas Rural Credits
Loan Fund TO bona hde purchase rs OF
farm lands in Arkansas. upon notes Sc
cured by mortgages or deeds Of trust
constituting first liens on such farm
lands in amounts which shall not ex-
eeed seventy five per cent Of the ap-
praised value or such lands The cred
] Il OF the State shall not be loaned te
any person to purchase mere than 81
acres of land, nor land valued nj more
than 5000 per acre Ner shall loan
u less than 100000 nor more than s.
n00 90 be made to any purchaser Or
land.
Sec g. Such loans shall not be made
except to owners who Operate" and
occupy lands mortPaged and shalt
be made for the following purposes
fa) The payment fer lands purchased.
OBJ the purchase OF live stock and 9th
or equipment. and the making of i'm
provements which. in the Judgment OF
said board will increase the produc-
tivfty Of such lands or add to their
value as a farm home in n degree to
Justify such expenditure; and (c) for
the satisfaction of encumbranees upon
such lands. which. in the Judgment of
sad boar. We're incurred or assumed
- said applicant fof the aforesaid
purposes.
Sec. .. Every applicant for q farm
loan shall state clearly in his appltca-
tfoh the purposes for which such loan
Is desired, and upon it's approval BY
the board this statement shall be deem
ed part of the note or contract under
which the loan is granted. But no
failure to apply such funds to the
purposes stated in such application or
enumerated herein shall invalidate =
loan when once made, nor shall any
thing herein contained be deemed 20
prevent any farm owner from selling
or leasing lands subject to such in
cumbrancet but If he shall violate his
said contract by applying the moneys
borrowed to purposes other than those
stated In his application or enumerateG
herein, or If he shall lease such lands
or sell them to any person not fulnll~
Ing the conditions and purposes pro-
Vided for herein, said board is author
lied and directed to require the repay
ment OF said loan upon six months no
t1ce. and said note or contract shall
contain a clause providing therefor
Sec. 7. Such loans shall be repaid
with Interest aecruing In annual In
stallments on the amortization plan
such installments being fixed at such
sums as will cover the interest rate
and will liquidate the debt in period
to be agreed on between said board
and the applicant. said period to be
not less than I'VE nor more than thirty
six years; but any debtor may liqui-
date any part or all Of his Indebtedness
in amounts of $4,000 or multples there
of upon any amortization payment
date.
Sec. s. The rate of interest on loans
shall be five per cent per annum: pro-
vded, that no Farm Credit Bonds shall
be sold for less than par and pro-
vided further that the board shall re-
quire each applicant to pay an initial
charge OF ! per cent of the loan grant
ed. the minimum charge to be $1,000
TO cover the cost of appraisal and ex-
animation OF title.
Sec. O. All surplus funds accruing
from the operation of the system Of
rural credits herein provided for. after
paying interest accruing on the afoTe-
said bonds. and all operating and other
expenses arising from the administra
ton Of said system OF rural credits.
shall be placed in the State Treasury
and become part of a fund TO be
known as the Arkansas Rural Credit
Reserve Fund" Said Arkansas Rural
Credits Reserve Fund shall be loaned
on farm lands in the manner herein
provided for the Arkansas Rural
Credit Loan Fund, and the interest &C
cruing from loans made from said Ar
kansas Rural Credits Reserve Fund
shall be added TO il and become a part
OF it. The said Arkansas Rural Credits
Reserve Fund shall be irreducible. ex-
cept that IL may be drawn upon to re-
imburse the State fer loss incurred In
the administration of said system Of
rural credits
Sec 10 The Legislative Assembly
shall provide in such detail as II shall
deem advisable for the carrying Out
and administering Of the provisions OF
this amendment and shall provide ad-
equate safeguards against the use OF
such loans as an aid To the purchas-
ing and holding Of lands for the pur~
poses OF speculation. Such safeguards
shall include clear definitions OF the
terms Operate" and occupy" useo
herein In the absence OF such leEis~
n.
it's enactment the State Land Board
shall proceed to administer said sys-
TEN OF rural credits under rules ana
regulations provided by itself. but sub
ject to the provisions herein contained.
See Ii. The provisions OF the Con
stitution OF Arkansas in conflict with
this amendment are hereby repealed. IN
so far only as they conflict herewith
The provisions or this amendment
shall be self-executing. and shall take
effect and be in operation 60 days al
ter their approval and adoption by the
people of Arkansas.
Approved by the Governor and fled
in the office OF the Secretary OF State,
March II, 1917.
Each elector may vote for or against
the above amendment
witness my official signature this
the gath day OF Aprl, 1918.
fSeaIl TOM !. TERRAL.
Secretary of Stats.