Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1921-03-18
Proper Working of This Credit
Will Do Much in Speeding Up
Clearing on Rus k COun y
Farms

We have before us Il copy OF Il let
ter from the Investors Finance Cor
ioratiOn to w. c. Bssell. of Milwau-
kee. in regard to the third line OF
credit" that is being conferred around
the BisSell stump puller.
This puller is a land clearing unit
big enough TO interest financiers and
farmers who can use this machine
profitably should do SO to speed up the
whole process of land clearing in tht
county.
We quote the letter as follows:
March =, 1921
Mr.. W. c. Bissell,
Milwaukee. Wis.
Dear Sir: Briefly stated, it is our
plan to assemble the land clearing lien
in the form of a mortgage against the
land cleared and the rest OF the farm
said lien to be paid in three INSTALL
mentS. We are to take these liens,
trustee them and issue our finance
corporation debentureS and sell same
in the open market.
We are endeavoring to bring about
the amendment to the state farm loan
act. permitting us TO file these liens
with the state treasurer. as custodian.
as security for our finance corporation
dcbentrreS He will certify these de
bcntureS as being secured, etc.
We hope to have these debentureS
listed as non-taXable in Wisconsin,
and as legal investment for trust funds
and insurance company funds.
1t is not our purpose to do business
alone with your corporation but with
any other corporation or group or IN
divdual who may be clearing land
We want, however, to have the unit
cleared to be at least ten acres, and
we must have it cleared. as we assume
| that il will be satisfactory TO the own
er and that the commissioner OF agrl
| culture or county agent may q. X. on
| 'ear mark" the lien. establishing the
| fact that the proceeds of the lien were
| used for land clearing purposes. This
| certificate of the commissioners of ag
riculture will be prima facie evidence
| that it is land clearing lien. The
state treasurer then would only have
| to review this certificate.
Trusting | have made myself clear
and assuring you of our complete Gle
| sire to cooperate in this movement
we are
Yours very truly.
| Fl. A. MOEHLENPAH.
President Investors Fl
nance Corporation.
| This is just what Rusk county
needs. The terms should be made three
years before any payment except inter
est is required.
This would give the farmer time t.
| get his land in good shape, and III
could pay for the clearing or at leas
| the biggest part of it from the hay OF
| crops he could raise on the cleared
| acreage.
| This clearing can be done along thu
Rusk county plan, but the stumps mus
| be taken out before the land will b.
considered cleared. This. as we I'm
| derstand it. does not mean that the
land must he plowed but can be levelet
and seeded the same as though The
Stumps were left. 1t is not advisable
| to tackle green clearing on this prop
| osition as the expense of getting the
stumps and grubs out is too great t.
get the job done on a $4,000 per acr,
loan.
However. if your land has been GU
over for several years you can just a:
well stump it as you go, now that yol
can get the money to do it with.
| Land here that is brushed. logged
stumped, leveled, and seeded. is wOrtl
| upwards of 500 per acre. and will pay
off any loan that can he placed agains
| it in a few years if kept to clover ant
| timothy.