Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1921-09-19
ARE READY NOW
FOR farm Loans
Iowa Farm Credit Corpora
ton Organized and is
now Operating Among
Farmers.
ONLY FARM LOANS
Is Devoted Wholly to Farm.
ers' Affairs and Loans
Limited.

The Iowa Farm Credit Corporation
is now organized AMI operating.
lis officers and directors, chosen from
each district and representing equally
the farmer and banker interests OF
those districts, makes certain the con
tinucd policy of service for every part
of Iowa.
While the Iowa Farm Credit Corpo-
ration is a distinct and separate orga-
nzation from either the State Bankers
association or the Iowa Bureau Fedora
tion. nevertheless it is the materiali-
zstiot of Il series of meetings which
were held last fail at Waterloo, Fort
Dodge. Red Oak and Ottumwa by the
combined representatives of both OF
these organizations. Proper legislation
and the formulation of the company it
self was direct result of the activi-
ties of the committees appointed by
these two organizations to study and
IL
the needs of the agricultural industry
of Iowa to meet the requirements of the
farmer and be built upon Il sound
financial foundation.
Get Much Data.
Consultation was had with. and all
possible data secured FROM banking
and rediscounting authorities in Chi
c"go aud New York besides a series OF
conferences held within the state of
Iowa. Authorities on agriculture at
.,ncs. the department at Washington,
and the foremost bankers of the whole
county were called upon to offer sug-
gcstions to meet the peculiar require
nents of the farmers in their financial
relation. Plans of other industries We're
studied and as Il result of the infOrma-
ton gathered. the corporation was or
ganizcd with the feeling that every
practical angle was as thoroughly Gov
cred as was humanity possible. The
Hills were prepared by the attorney for
the Iowa Farm Bureau. and with their
legislative committee submitted to var
ious committees and subcommittee
of the Thirty Ninth general assembly
aud were passed without Il dissenting
vote. 4 special committee represent
ing the Iowa Bankers association and
the Iowa Farm Bureau Federation
then worked for six weeks formulating
the articles Of incorporation to meet the
requirements of the farmers of Iowa.
Restrictions OH Loans.
The corporation is limited to meet
the needs Of the agricultural interests
Of the state Of Iowa. Thrcef0urths OF
the money on deposit in our banks is
fern money. The iowa Farm Credit
Corporation is wholly devoted to the
farmers affairs and can loan only on
four kinds Of paper:
1-Notcs secured by warehouse
receipt of grain stored in bonded
elevators or warehouses; This
provision is to prepare for future
contemplated marketing plans of
the farm organizations.
- Notes secured by clattcl
mortgage OF his live stock. making
possible additional collateral for
farm credit.
3.-Notcs secured by bank Ell
dorsement, giving field for re-
sponsble personal obligations
Notes secured by collateral
approved by Iowa state bank laws.
Heretofore there has not been Il dis
tinction between Investment capital
and working capital i'll agricultural
finance. This distinction can now be
made and paper belonging to invest
ment banking can be taken out of the
field of commercial banking to the
greater benefit of both bankers and
farmers.
The presentation of Il sound financial
50, henc for agricultural is the surest
method of making certain Il profitable
II arkcting plan and the only method or
withstanding the spreading Of radical
and iis0und measures. To take adj
vantage of these opportunities means
u return to normal conditions and "A
safeguard against the return Of the cX-
,crienccs of the past year. To further
encourage such a plan the legislature
riade il possible for state banks to pur-
chase stock in such corporation up to
20 per cent of their capital and surplus.
Tie operation Of the Iowa Farm
Credit Corporation will not disturb the
financial conditions in any county but
will give immediate benefit wherever II