The Liberal democrat. [volume] (Liberal, Kan.) 1911-1924, 1921-11-10
BYERS PUTS OVER BIG LOAN
COMPANY FOR THE GREAT SOUTHWEST
Organization Perfected Wednesday Evening
Which Will BE of Tremendous Importance
in Agricultural and Live Stock Industries
ISTRIBUTE MORE THAN $1,000, 100000
Local Board to Have Absolute Supervision of
Credits and Will Loan on Stock Farm
Products and Land

An organization of far-reaching i'm
portance was formed in the room of
the First National Bank in Liberal
Wednesday when the Liberal Loan
Company was organized with a capi-
tai stock of $100,OOO.OO.
The organization is the idea of o. p
Byers, president Of tie Kansas G. Okla
homa railroad, the Wichita & North.
western and other lines. Mr.. Byers
realizing the need of the farmers and
cattlemen of the Southwest, went to
Washington and met with the War Fl.
nance Board and with the assistance
of Senator Curtis and Congressman
Tincher convinced the Board that
there was need for finances for the
finances for. the live stock and farm
ing interests of this section, AS a re-
suit of the conference Mr.. Byers was
informed that all the money would
be placed at the disposal of the COM
pany he expected to organize and he
returned to Liberal to perfect the or
ganization.
The final plans were completed
Wednesday evening when the fol.
lowing officers and directors were
elected:
President, J. F. Fuest.
Vice Presidents: j. A. Kelley, j. N
Evans, c. G. Stevenson and w. P. By
ers.
Treasurer: c. E. Woods
Secretary: Jennie Karau
The Board of Directors will be corn
posed of J. F. Fuest, ]. A. Kelley, ]
N. Evans, C. E. Woods, Ernest vii
son f. M. Dean and W. P. Byers.
The formal organization make,
available to the farmers and stocl
raisers $1,00O,0O0.0O at this time ant
the organization has the promise Of
more if needed. Applications are be.
ing received today for loans and there
Is no red tape. The board of directors
has the power to pass on collateral
and it is expected to have the money
available within a few days after the
approval Of the security.
The company will loan money or
live stock, either already in the pos
session of the raiser or to purchase
additional stock, will also loan on any
kind Of grain, broomcorn or other
farm product held on the farm, as
well as second mortgages on land up
to certain point.
Mr.. Byers went to Topeka to Sc
cure charter and it was but few
minutes tack. He explained the prop.
osition to Governor Allen Judge
Reed, Secretary of State PettijoRn
and member of the supreme court
OF Kansas and all promised Their
their hearty cooperation. Governor
Allen said nothing which has hap
pened in the last ten years which will
be of such far-reaching Importance"
The organization of the company
will not only benefit the agricultural
interests of the Southwest, but will ef-
feet every .class.Itis stipulation that
the company will lift the farm paper
now held by the banks, and this will
allow the banks to finance other lines
and will mean revival of business in
this section which just now is hamper
ed by lack of ready money and should
be the d avn of new era of improve
ment in Liberal and surrounding ter
ritory.
The company loans at 8 per cent
for three years, enabling the farmer
or stoclman to turn his products at
the most favorable time thereby re-
ceiving the benefits Of the best mar
kets.
: The Liberal company is the second
organized in the United States. The
first was organized at Fort Worth,
and as a result the price of steers
jumped 81 per head in a few weeks
time. It will be seen from this that
the company will be a big boost to the
cattle industry, forster increased pro-
duction and as the country prospers so
will the city and its institutions.
This is not a money-malxing prop
osition for the men back of it, but is
in the interest of the common good,
and it could not be placed in better
hands. The officers and directors
are all men whom the people have tho