The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-10-24
HALF MILLION
CATTLE LOAN
COMPANY IS
ORGANIZED
Bankers at Meeting Here
Decide on Incor-
poration

bankers from various parts Of the
stato-insluding more than a score OF
delegates from outside of Albuquer-
que-stcpped into the llmelight today
To bring relief to the livestock and
agricultural interests OF New Mexico
when they met at the Chamber OF
Commerce this morning.
a farm loan company. In accord
ancc with the wishes OF the war IL
nance corporation was organized with
an authorized capital stock Of $780,
600. The name OF the New Mexico
company ~ TO be known as The
Livestock and Agricultural Loan
Company Of New Mexico" Although
Albuquerque seemed to be favored as
the headquarters FOR the company no
headquarters had been designated
definitely when the session was re-
surod at 2i50 o'clock this afternoon.
The directors OF the association are
to be John W. Poe OF Roswell, W. H.
Morley Magdalena. J. Is. Herndon.
Albuquerque. W. D. Murray, silver
City. Gregory Page. Gallup: A. G..
simms, Albuquerque, &. 4. Bigelow.
Estancia; c. q. Mnrdorf, SantL Fe
ana %. y. Eastcrwood, clayton
Caucus ON Subscriptions.
The election Of the directors and
the selection Of the name OF the com
pany came after "a committee. which
had been named to recommend di-
rcctarr and name for the company
had made "A report tho report being
accepted by the delegates
The Afternoon session was late get j.
ting started because the delegates
were awaiting Il report from the Al
buquerque bankers as to the amount
they would subscribe. The amount
ether banks In tho state subscribe to
the company will depend upon the
amount subscribed By Albuquerque.
The local bankers went into caucus
shortly before noon to discuss this
question.
The meeting this morning waa
called to order by J. B Horndon.
president OF the State National bank,
who had issued the. call for the meet
ing
Tho call FOR the election Of tempo
tary officers resulted In Gregory Page,
president of the Gallup state bank
being named chairman and Frank H.
Coon Of Lordsburg. secretary
Mr. Herndon aa one OF the first
speakers then related the purpose OF
the meeting us he raw II and told OF
his correspondence with Eugcn,
Meyer Jr. president of the War ~
nance corporation IN which tho latter
had urged that a farm loan COMPANY
hc formed in New Mexico as has beer
done in some of the other states.
Las Vegas Men Speak
Tho Las Vegas delegates who wrr,
instrumental In forming the loar
company n the Meadow city wor,
among the speakers Co follow Mr.
HrrudOu. Their delegates to CONT
here wcro John n Harris. George n
iuukor and u. T. IIuskius The lat
ter was the chief speaker Tor the tfi,
ana told the banking delegates tina
the loan association at Las Vegas hn,
urEani2ed with an authorized capita
stock 81 S250.OOO, "a pant Of which hal
already been paid iu.
NJ. Iioskius stid that he believed
u would be- proper to have Scycrn
loan companies in tho state. hddinl
th1t that was the attitude Of th'
bankers iu his section uf the state
lic believed that large number %
loan associations. would mako avail
ulir more money for the lycHocl
men
THE more companies the mcrrior.
said MI HusklnE
W Ray Morley. of fHgdnlcna tool
issue with the Vegas delegates. say
ms that hc believed that ID was tn
desire uf the war finance corporation
10 have but one largr company 70
Now Mexico.
"a large company" said Mr. Nor
Icy would be able Ia bring NOR
money into the state than would scv
crHl small companies The amour
OF money available FOR loans will de
pend upon the capital Invested and
large company would have more pow
err
FOR whole State
Following the disnuHsiou In whic
the ideas OF Mr. Mu-yv seemed (
prevail. Mr. HDrudun made the me
ton TO form "a state loan ussoCiatiu
(COntinucd on pagc ,wo)