The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1921-12-02
FORM LIVESTOCK
LOAN COMPANY
Montana Corporation Organized And
Will Handle Montana Livestock
Loans. Stephenson Heads.

Articles of incorporation for the
Montana Livestock Finance corpora
ton, in which banks throughout the
state are represented, were filed in
Helena Tuesday afternoon. The con-
Germ, which is organized for the pur-
pose of giving financial aid to the
livestock industry of Montana, is cap
italized at $500,000, half of which is
paid in.
The following comprise the board
of directors:
Sam Stephenson, president of the
First National bank at Great Falls;
S. McKennan, president Union Bank
and Trust company, Helena; E. J.
Bowman, president Daily Bank and
Trust company, Anaconda; c. F. Nor
ris, vice president Security State
bank, Havre; Charles Vandenhook,
vice president Commercial National
bank, Bozeman; Jay f. Merkle, presi-
dent American National bank, Bill
lings; P. J. Wedge, cashier First Ma
tional bank, Miles City; T. o. Ham
mond, vice president and cashier Mon
tana Trust and Savings bank, Helena;
T. A. NARROW, president of the Ma
tional Bank of Montana, Helena.
Officers Of the corporation were
elected as follows: Sam Stephenson,
president; S. McKennan, vice-presi-
dent; T. o. Hammond, secretary
treasurer. These officers constitute
the executive board.
The directors announced that they
would Immediately proceed with the
selection of manager to have charge
Of all inspectors and general business
and the establishment of the head of
flee which will be in Helena.
The following statement was issued
by the directors:
"The corporation was organized for
the purpose of financing the livestock
industry in Montana. The intention is
to invest the capital stock in the high
est class of securities, and the cor
poration will pass upon and indorse
applications for livestock loans to be
submitted to the U. S. War Finance
corporation at Washington.
"The corporation in this state was
organized along the lines of similar
corporations in other states, which
have proven efficient and successful,
and has the full approval of the U. S.
War Finance corporations board.
at is estimated that the Montana
corporation will handle between $2,-
100000 and $3,500O,0O of livestock
loans within the six months ensuing.
"The corporations stock has been
subscribed and is held by representa-
tive banks in all parts of Montana. It
is not, however, the intention Of the
corporation to accept loans only
through subscribing banks, as applica-
tions for loans through non-member
banks will receive the same consid-
GRAFTON as from the subscribing banks.
"The principal purpose of the cor
poration is to assist the livestock in
dustry of Montana in every way pos
sible financially, and to minimize the
necessity of shipping young stock out
of the state
"a recent announcement that steps
were being taken toward the organi-
zation of the corporation had sta
bilizing effect in the livestock indus
try almost Immediately, as did the
somewhat similar organization in the
wool industry last spring, which went
far in effecting conditions which are
now sustaining prices in the wool mar
kets.
"The present paid-in capitalization
furnishes a basis for Endorsement o1
$2,5O0,0OO of livestock loans through
the Washington board. The directors
Of the Montana corporation are au
thorized to accept additional subscrip
tions for capital stock as their judg
ment dictates.
"The organizers of the corporatio,
are confident of being able to be o.
great benefit to the livestock industr,
in the immediate and father future ~