Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-07-15

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FRIDAY EVENING, JULY is. 1921.
LIVE STOCK CREDITS.
There is general recognition Of the value Of live
stock on the farm. Intelligent students Of agricul-
ture agree that real farming without a proper eouip-
tnsnt of live stock is an impossibiiity. Interest in
the development Of the live stock industry has grown
greatly in recent years, when it has become evident
that without the proper stock equipment the fert;li-
tySof many Of our fields is being sadly deprecated.
4 Farmers themselves are taking an interest in the
subject, and others whose business prosperity de-
Ponds directly on the prosperity Of the farmer arc
taking steps in various ways In the development Of
this industry.
Wherever there is in progress q great movement
81 this kind, there are to be found those who desire
~ take advantage Of it without contributing any,
Mfflhiiig toward its success Leeches attach them
selves wherever blood is to be found. In this con-
nection there is evidence Of an effort to yictirnize
farmers through the medium Of Organizations pur-
porting to be created in the interest of the live stock
INDUSTRY, and which issue plausible announcements
in support OF their plans. Naturally, not all an
nonncenents OF a business nature asking for invest
irientin the live stock business are to be regarded as
frauds. Undoubtedly many of them are well meant
and many are well planned and entirely legitimate !:
but the fact that there are frauds in connection with
TINS business makes il necessary that ali proposals.
TOR investment in any form in concerns whose stand
ing 10 unknown to the prospective customer, should
pc very carefully investigated.
q typical announcement il at hand. It tells of
ehe organization of a live stock loan association.
Ihes farmer = invited to make a statement of his as
sets, his liabilities, and his needs, and to make an
pIlicatlonn for membership in the association. If his
application 10 accepted he will BE entitled to borrow
money Tor the purchase Of live stock on ! monthly
A.notsazatfon plan at a low rate Of interest. The
circular says that the association is not regularly en-
gagged IN the business of selling cattle. 1t will loan
money for the purchase of cattle and the purchase
may be made from any source satisfactory TO the
tarner, and also satisfactory to the company The
oiapaiy's representative will inspect the stock
Fs1ufetaased, and pass on all deals of this character.
y the farmer cannot satisfy himself in his local mar
kets, the company will, as an accommodation, ar
range to purchase cattle for him. This all looks to
&c perfectly above board. 1t may be entirely SO.
IN the other hand, there may be a nigger in the
WOOD Pile. Members are accepted Of course, only at
a1 lp optlon OF the management, and when it comes
NJ ~ the inspection OF the cattle, it would be easy for
sf me company SO inclined to have its agents make
unfavorable reports on prospective purchases, thus
steering the farmer toward the company as his
source Of supply; These cattle can Be sold perhaps
at several times their vaiue and the farmer would he
tied up il q binding contract, secured BY chattel
mortgage not only on the present purchase, but on
Other property 50 that he might easily be victimized
~ the extent Of several thousands of dollars.
Most farmers who have been in the business
many years will recall the frauds that were perpe-
rated some years ago in the sale Of stations to
community organizations, the animals sold proving
a many cases to be absolutely worthless. A great
many such animals were sold in the vicinity Of
Strand Forks, the figures ranging from two to three
thousand dollars, when in reality they had no ya1ue
whatever for breeding purposes. The frauds thus
perpetrated, through the inevitable reaction, tended
81 discourage investment in a legitimate horse
breeding industry. Frauds perpetrated in the cat
re industry will have 4 like effect, and every person
interested in the growth Of that industry owes it to
himself and his neighbofs to Investigate thoroughly
every financial proposal made to hin, on the basis Of
investment IA live stock.
SsssaSS S COLONIES.
he gathering IN London Of renreeert,+;,.. ,f