Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1921-09-21
Will Make Loans for Agri-
culture.

culture
Announcement of the opening OF
headquarters in Columbia for the
loaning of money for farming pur-
poses in South Carolina under the
agricultural credits acts was made
yesterday by the committee appoint
ed for this state by the war finance
corporation. Temporary headquarters
will be located at the Palmetto Ma
tional bank and all application
banks and other information can
BE obtained from w. Iatta Law, Jr.,
secretary of the committee.
The committee to have charge OF
loans in this state is composed of the
following: j. Pope Matthews, chair
man; William Barnwell, vice chair,
man; Il. L. McColl, j. C.. Self, w.
Latta Law, Jr., and C. L. Cobb.
Mr.. Matthews is president of the
Palmetto National bank and a direc-
tor of the Federal international
Banking Corporation of New Orleans
and other large industrial companies
in the South. He has long been a
leader in advocating new methods OF
financing the Southern farmers.
Mr.. Barnwell is president of the
Z National State Bank Of Columbia and
is one of the most prominent bank
ers and business men in the state.
MIR. Cobb is cashier of the Peoples
National Bank Of Rock Hill and vice
president of the South Carolina Bank
srs' association. Mr.. McColl is pres
ident of the Bank of Marlboro, Ben
nettsville, and a well known business
man in that section. Mr.. Self is chair
MAJ of the board of directors of the
Bank of Greenwood and president OF
the Greenwood Cotton Mills. Mr.. Law
is connected with the Palmetto Ma
tional bank and was formerly with
the National City Bank of New York
in New York and Habana, Cuba.
Will Be Loan Agency.
This committee will function as the
loan agency for this state of the war
finance corporation and will have
charge of administering Section "a
of the agricultural act, which author
ICES the corporation to make advances
to any bank, banker, or trust COM
pany in the United States, which may
have made advances for agricultural
purposes, including the breeding,
raising and marketing of live stock
or may have discounted or rediscount-
ed notes, drafts, bills of exchange or
other negotiable instruments issued
for such purposes. The committee
will receive and pass upon all appli-
cations for loans.
The committee yesterday made the
following statement:
"This method of procedure will
save a great deal of time to the local
borrowers and will give the war fl
ance corporation the benefit of the
experience and local knowledge of
the conditions of the bankers who
will compose the committee. AS the
administration Of the act is almost
entirely a banking proposition, the
list of members consists of bankers,
both national and state, who are IA
miliar with agricultural conditions in
their sections. The names of the
committee were chosen on the rec
concentrations of the various business
organizations in the different dis
tricts of the state. They are unpaid
for their services, realizing the op-
p~ortunity for public service.
"All applications for loans must
be submitted in triplicate and on
forms provided for the purpose by
the. war finance corporation. These
forms and other information may be
obtained from the secretary of the
committee. Mr.. Law, at the Palmetto
National bank, Columbia.
How Advances Made.
stThe corporations authority to
make these advances extends to July
1, 1922. Advances will mature not
later than one year and loans can
not be extended beyond three years
from the original date of the ad-
vance.
"Advances may be made against