Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-01-31
TAKING ADVANTAGE OF FEpE RAJ
FARM LOAN oPPoR.
TuNiTlGs.
NAVE TAKEN $4,000, 900,
APPLY FoR oousLE THAT
Loans Being Made Rapidly and Eighth
District Sank 10 Doing Business Of
$1,000 Weekly - Government
Making No Profit From Loans 10
Farmers.
Special to Times Republican.

SpSSAoL W
Omaha, Jan. 3l-Iowa farmers have
taken hold OF the federal land 0aaN
scheme with vim. The Iowa farmers
are borrowing money from the eignth
district paak a. the rate " about =
mIilion and nalf dollars every mOn.h
and the rate Is increasing every Gay.
There Is not u single county IN tue
enllre state where the government
loans have not been placed and ia Al
most every county local Organizations
have been affected. Where no iocais
have been formed the indlvldUa. farm
ers have entered locals Just across
IneIr county lines.
Iowa farmers had borrowed, or had
appled for loaus, agsrcysting fl2,5's,-
49, at the close Of business GA Jan. IS,
1919, according TO report " the
eIgnth district farm ,oan bank male
on that date. Loans in Nebraska, at
the same time, aggregated but 'lo'-
1885.
Less than two years ago the bank
was started without even an organ
ization. Now the bank is doing -
business Of Sl.0oo, 900 every week. one
day, some wee.s ago, The bank did
business Of 81, 5GV,VeO-every cent ol
it among the farmers OF Iowa, Neo-
raska, South Dakota and Wyoming
Those four states comprising the
eighth district
In a few ycars this eighth dis
trict bank viii be the greatest farm
financing concern in a.! the world,
says President Hogan.
Actual Loans Over 5000 900.
Up TO noon. Jan. 70, Iowa farmers
had actually borrowed ss,22s,I50 and
had applied for ss.3S6,.ls more.
Practically all that sS,3Ss,7ls ap-
piled for will pc granted" sad Presi-
dent Hogan, because the security Is
the best IN the worId-Iowa farm
land
The four states. Iowa, Nebraska,
South Dakota and Wyoming, have
borrowed, or have made applications.
for, a total Of 332,i2o,ol9, from the
district bank.
Incidentally, the government land
bank makes profit. The borrowers
get It all. There are no dividends and
the officials and clerAs are paid ~
the government
President Hogan is particularly
pleased at The results achieved IN
Iowa.
when the bill establishing the
land bank was before congress, ana
even afterwards, II was said the Iowa
farmers would never borrow from the
government and bank" said M
Hogan. They said the land bank vas
all right for western Nebraska, for
wyoming. and for the sparsely set
tied parts of the distric. but that 1t
would never amount to anything IN
Iowa. They said the IOWA farmers had
such splendid security for loans in the
shape OF the best farms on earth ana
that they could get money on soca
good terms through the established
agencies that they would never take
an interest in the land bank.
And when the bank was first es-
tabiished, the officials began TO Won
der il the prediction was not about
right. For Iowa stayed out while the
other three states OF The district came
right In.
But finally, a little al time, Iowa
rot into the organization. And now
she has struck q stride that has al
ready overtaken Nebraska and has
placed her 100000 ahead OF the lat
ter state