The herald-advance. (Milbank, S.D.) 1890-1922, 1919-02-14

south D0kOLa, curing the last year,
borrowed nearly ten and a half mil
lion dollars for use in loaning upon
the lands of the state. This money
was loaned to farmers on 80 years'
time at 5h per cent. said A. W. Ewart.
treasurer Of the Rural Credit board.
The South Dakota Rural Credit law il
simple. The state, by . direct pledge
Of It's credit, b0rrows money and loans
1t at the lowest rates possible upon the
security OF farm lands practically at
cost. Mr.. Ewart outlined the process Of
obtaining a loan as follows: Any resi-
dent land owner OF the state may apply
to the South Dakota Rural Credit COM
mission for . loan I he is at the time.
or is soon to be engaged in the de-
velopment of the farm land to be
mortgaged. No loan may be made for
more than $4,000 nor for less than
$500. No loan shall be for more than
20 per cent Of the appraised value OF
the land plus 40 per cen Of the insured
value OF the Improvements. and in no
event can the loan exceed the average
assessed valuation of the land for the
three preceding years. The legitimate
purposes for which money may be bor-
rowed r to provide for the purchase
Of farm land, equipment. fertilizers.
live stock. buildings and other i'm
provements or to pay indebtedness
on the farm land Of the mortgagor.
The loans are made payable on the
amortization plan. which consists in
paying both principal and interest in
the given term. Thus far the annual
installment payment 10 1851 for each
81 1000 borrowed. The borrower may
pay off his loan wholly or in part at
any time after five years at any inter
est paying date. Or. he may then Sc
cure q re-appraisement OF his land for
the purpose OF increasing the amount
of his loan.
A sheep pasture of 100, 1000 acres is
what is required for the ranging OF
10000 sheep in the southwest cOrne
Of Cheyenne river reservation. The
Indians get $500 a year for their
sheep pasture covers only seven town.
ships, two cattle pastures on that reseT-
walton are larger. The Zimmerman
pasture is thirty-six miles long and
about fifteen miles wide. Ten thous-
and cattle are grazing there this warn
and open winter weather. The Moss
man pasture 10 fully ~ large. and ex-
tends east Of the Zimmerman tract,
with $4,000 head Of cattle. These cattle
men pay the Indians at the rate of $3.50
per head. From all these leases the
Indians on the Cheyenne river reser-
walton get about $4,000 q year. which
will be distributed at an early date.
Farmers OF Beadle county. members
of the Beadle county farm bureau. in
session here. voiced Z strong senti-
ment in favor of building concrete
roads over Beadle county. Some
said that hard surface roads we're
absolutely essential II the farmers
were to get their produce to. market.
The heavy traffic Of the present day
from the farms and the motor trucks
which are rapidly replacing the horse
drawn lighter farm wagons have put
the dit roads into the worst condi-
ton. and that some improvement must
be made in the highways at once.
Several resolutions IN favor OF road
building were passed and a delegate
wal named to take up the matter with
the county's representatives in the
state legislature.
A colony OF Mennonites who sold
their holdings in Beadle county last
fall and went to Canada are reported
to have returned to this section Of the
country md have purchased about nine
sections Of land in eastern Sully county
several miles northeast Of Onida. They
will settle in that region. They tried
to purchase back their Beadle county
holdings. but could no make the deal
with the present wners. ;
The Missouri river At Yankton.
weakened by the warm weather, broke
up Sunday afternoon and tho ice went
out for miles above and below stream.
Most Of tho pontoon bridge had been
removed to q place Of safety. but ice
struck the balance and wrecked 1t.
This IL the earliest the Ice hAs broken
up at this point since Yankton was
founded, the earliest previous date be-
ing February II, 1917.
AS a result OF the recent rounding
MP Of q number Of Sisseton boys o. .
charge of malicious mischief and de-
structicn Of property. they being
charged with causing losses Of more
than $1,000, the city council has pro-
hibited all boys under IL years old
from entering pool halls and has pro-
hibited tobacco being sold to any boy
under 81 years Of age.
In accordance with . petition filed
with the board Of trustees. lof KAder.
a special election will be called to vote
m school consolidation. It 10 planned
to consolidate several districts I
A movement has been inaagurated
by Doland business men asA ether
residents to organise Q stock company
composed OF local men and install ~
electric light system. .
In accordance with . petition filed