The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-09-03
Permanent Organization to Be
Perfected and Officers
Will Be Chosen.
WILL REALIZE $4,000
TO CITIZENS OF COUNTY
Farmers viii Be Enabled to Bor-
row Funds at 6 Per Cent
For improvements.

The Federal Farm Loan association for
Escambia county win be finally organized
at meeting Of the farmers OF the
county who win gather at the court house
annex this afternoon at 2.sO o'clock.
This win put the association on a work
ing basis. and win make possible the re-
lease Of some $4,000 or more. for the
development Of Escambia county in tho
immediate future.
At two preliminary meetings presided
over by J. Lee smith. county agent. prep
arations for the final organization have
been made. Some APPLICATIONS for mem
bership have been returned, and about
40 such applications are stiH outstanding
and expected to be returned today. Five
directors VIII be elected BY the members
OF the organization and the directors viii
elect officers. A president and vice.
president win be selected from among
their number; loan committee consist
ing Of three members Of the association.
will be chosen. and a secretary treasurer
elected. The loan committee will be re-
sponsible for the appraisal Of property ard
the recommendation that are returned 10
the Federal Land bank.
A. G. Binkiey. attorney for the federal
Land bank for Escambia county. viii be
present at the meeting to explain any
details Of the loan process that are not
understood. within the last three
years." says Mr.. BinKley. more than
$4,000 has been loaned through the Fed
eral Land bank under the federal farm
loan act passed in 1916. II should be
remembered, too, that during the three
years mentioned. operations were held tsp
a year and half BY litigation. Loans
are just beginning to be put through
again. and with organization. speedy de-
velopment Of the county may be ex-
pected."
The farm loan enables farmers to bor-
row funds at per cent for the purchase
OF property. Of livestock. fertilizer. or
other supplies; for the purpose OF clearing
and stumping properties already owned;
for putting UP buildings or otherwise inn
proving properties and generally develop
ing the rural sections Of the country.
According to County Agent Smith, the
shipment Of farm products from Isscam-
bia county last year totailed only about
ten or twelve cars. This year. the ship
ment UP to week before last. totalled co
cars, and the prospects Indicate the out
put Of 10 or Is cars yet to go. Mr..
Smith expresses the belief that next year
win bring an increase Of some $50 cars
Win llAS Wv StSBtitNAAL AAAAt HtAA % Attdsl9
possible through the loans Of the Federal
Land bank.
Heretofore only the northern ead Of the
county has been organized. There have
been Federal Farm Loan associations at
Oak Grove and at. Bluff Springs. the two
associations territories overlapping. The
new association to be completed today.
viii include the whole county and viii
make IL possible for farmers ia any part
~ -
with money borrowed at a reasonable
rate. The new association viii not con-
fIct with the two older ones and Is be-
ing formed simply that the farmers for
whom it IS easier to transact business in
Pensacola may do so.