The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1921-04-14
PLAN is TO ENABLE FARMERS TO
SECURE FUNDS TO BUY BREED
ING AND DAIRY STOCK
FINANCING FIRST COMPANY
Movement is Backed by Montana De-
veIopment Association, Which Will
Send Representatives to All
Communities of the State

will be formed in every agricultural
community in the state, according to
plans announced this week by the Mon
fana Development association.
The object of the business mems or
ganization in forming these ~loaning
companies is to encourage and make
possible the more extensive breeding
of stock and dairy cattle in Montana.
The hard winter of last year, the high
price of hay which obtained and strin-
gent money conditions seriously de-
pleted Montana's livestock resources.
II is now considered to be a very OPP
perfume time TO 20 into the livestock
business for many reasons and the as
sociation believes that it presents a
big opportunity to the average Mon
tana farmer. Good stock can be bought
at favorable prices for some time. il
is believed, and breeding can go for
ward under the best possible condi-
lions.
The plan, which in a general way is
borrowed from many European coun-
tries, where it has been in successful
operation for many years, was worked
out by I. D. O'Donnell, prominent Bill
lings farmer. and the first loan COM
pany to be formed under the plan is
now getting ready TO take care of the
needs of the farmers of Yellowstone
county.
Many have come TO the conclusion
that dry farming in itself is not profit
able and can only be made profitable
by the breeding and raising of live
stock in connection with it. the asso-
citation points out. The dairy COW prac-
tically means a payday every month;
hogs and sheep will give returns at
least every six months beef COWS and
return an annual profit.
The associations TO be formed in the
various communities will be headed
by boards of directors composed of
farmers and business men. Each as
ISOLATION will be independent of other
associations, handling its own
loans and paying its dividends accord
ing TO profits made. Cooperative pur-
chasing of car loads of stock NAV be
resorted to, however, among various
associations.
Each organization will be subject
20 inspection by the state bank exam
liner and will be administered along
practically the same lines as are the
building and loan associations of the
state, affording to wage n
school children and othersaa splendid
opportunity to save money by means
of small payments on stock made
monthly.
Loans will be made to the farmers
of he state at eight per cent, although
accruing dividends probably will make
the rate slightly less, it is thought.
Each borrower will become a stock
holder and finally will cancel his loan
with paid-up stock. The terms of paw
ment will be determined in most cases
by the borrower himself and will diff
fer according to the kind of livestock
in which he elects to invest.
A third class of stock, in addition
TO the savings and borrowing stock.
will provide an opportunity for bust
ness men and others who wish to pur-
chase fully paid-up stock for the pur-
pose of helping the association to &C
quire the necessary capital with which
TO operate. All classes of stock viii
participate in any dividends which
may be paid and which are to be de-
scmi-annually.
In addition to building up the quail
Ity Of Montana's herds and increasing
the states and production.
these associations will also
thrift among all ranks of citizens. af-
a safe and convenient method
,f saving small amounts.
The associations will insist upon reg
stored sires; they will encourage the
purchase Of community sires and facil-
tate community changing OF sires
They will pool purchases of good
trades Of stock, thus saving consider
bile money to the individual farmer.
Another important advantage which
viii accrue through the plan. it is
bought, is the pooling of shipments to
market and the marketing of live stock
the most favorable conditions
Z
Representatives of the Montana De- /,
'elopment association will visit every
arming community in the state. il is (,
nnounced, TO lay the plan before the
ssociation membership and represent
tive farmers. All information neces- .
AIRY for the formation of the ~Ioaning !
ssociations will be furnished by the I
eneral office of the Development as c
ociation in Billings. q
"The first essential to raising the q
honey and making such a venture a :
access is thrift said Mr.. ODonnell. !
Yellowstone county we have had !
ratifying returns for the effort we =
put forth in canvassing the bust !
ISIS men. farmers and others, and {
Tough stock has already been placed e
insure the successful financing Of Il
e venture here e