The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1921-09-22
WILL MAKE LOANS
FOR AGRICULTURE
ESTABLISHES HEAD
QUARTERS IN COLUMBIA.
Matthews at Head.
Plan Outlined For Farmers to Get
Advances on Their Products.
Ready for Applications.

Columbia, Sept. 19.-Announce.
ment of the opening of headquarters
in Columbia for the loaning of money
for farming purposes in South Caro-.
lima under the agricultural credits
acts was made Saturday by the com
mittee appointed for this state by the
war finance corporation. Temporary
headquarters will be located at the
Palmetto National bank and all ap.
plication blanks and other informa'
ton can be obtained from W. Latta
Law, Jr., secretary of the committee
The committee to have charge oi
loans in this state is composed of the
following: J. Pope Matthews, chair
man; William Barnwell. vice chair.
man; H. L. McColl, J. c. Self, w
Latta Law, Jr., and C. l.. Cobb.
Mr.. Matthews is president of the
Palmetto National bank and 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
National State Bank of Columbia and
is one of the most prominent bankers
and business men in the state. Mr.
Cobb is cashier of the Peoples Ma
tional Bank of Rock Hill and vice
president of the South Carolina Bank
ers' association. Mr.. McColl is presi-
dent of the Bank of Marlboro, Ben
nettsville, and a we'll known business
man in that section. Mr.. Self is
chairman of the board of directors OF
the Bank of Greenwood and president
of the Greenwood Cotton mills. Mr.
Law is connected with the Palmetto
National 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 wal
finance corporation and will have
charge of administering Section "A OF
the agricultural act, which authorizes
the corporation to make advances to
any bank, banker, or trust company
in the United States, which may have
made advances for agricultural pur,
poses, including the breeding, rails
ing and marketing of live stock OF
may have discounted or rediscounted
notes, drafts, bills of exchange OF
other negotiable instruments issued
for such purposes. The committee
will receive and pass upon all appli'
cations for loans.
The committee Saturday made the
following statement:
"The method of procedure viii
save a great dead of time to the loca
borrowers and will give the wal
finance corporation the benefit of the
experience and local knowledge ot
the conditions of the bankers who
will compose this committee. AS the
administration of the act is almos1
entirely a banking proposition, the
list of members consists of bankers
both national and state, who are ia
miliar with agricultural conditions II
their sections. The names of the
committee were chosen on the rec
concentrations of the various buslnes:
organizations in the different dis
tricts of the state. They are unpalo
for their services, realizing the op'
portunity for public service.
cali applications for loans must
be submitted in triplicate and or
forms provided for the purpose by the
war finance corporation. These forms
and other Information may be OBJ
tained from the secretary of the com
mittee, Mr.. Law, at the Palmetto
National bank, Columbia.
"The corporations authority te
make these. advances extends unit
July 1, 1922. Advances will mature
not later than one year and loan:
can not be extended beyond three
years from the original date of the
advance.
"Advances may be made agalns'
the note of acceptance of the borrow
er or other negotiable instruments
making him primarily and uncondl
tionally responsible for the payment
of the advance Application of the
borrower must be adequately secured
by Endorsement, guaranty, pledge
or otherwise. The corporation shall
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