The Little River news., 1922-05-17
J. A. MCDONALD MAKES
 APUBLIC STATEMENT
Replies to Charge of Alleged Short age and Says Books Show Him
 Long About $4OO.

Ao]A AooOSlnliOA, ASHUVWu, ATk. T take this means of telling you that I have found the books that I ! kept my private charge accounts on Swh1le I was your Sec.-Treas. I had thought that they were burned as wife had burned some old papers and from
 her descriptions of some of the small
 books and pamphlets that she threw into the fire l was confident that I
 was in very unpleasant situation.
 Now, as I have them am getting out a complete statement of each and every loan that I put through for
 you; showing the number of your loan, the date of the application, the date is was closed, the number shares
 of stock each of you hold in the Land
 Bank, and where every cent of your money went to while I had anything to do with it.
 T am also giving you a statement of the expenses of your loan from start to finish which I should have giv- en to you at the time of the closing of your loan, but not thinking it real ly of much consequence until some one showed yellow streak and wrote a very unbecoming article to the Ar kansas Gazette in which it was to be inferred that my accounts were short, but if any of you will take the pains to ask my successor, the Hon. Judge W. E. Trustworthy. about it you will find that I gave him a check for every cent that is due the association.
 Not only that but you will find that the books will show that after the examiner had cut all that he would dare to out that they are due me nearly S400. Which I had not drawn from the treasury. No my friends, I was under $10,0OO bond. but the bondsmen are not at all frightened over that report in the Gazette, and when you learn the whole truth of this matter you will be some wiser and you will see the politics in the whole matter. I will mail your statement to you in few days. I am not asking anyone for their sympathy, no indeed, but just give an honest Irish lad a chance. I am for the cooperative features of the Farm Loan Act, as it was ori- ginally intended
 Let me say to you right here that I consider the Farm Loan Act one of the greatest pieces of legislation for the small farmers that has been en- acted by the Congress of tn United tates in many years, that is the Farm Loan Act, as it was originally enact ed with that splendid cooperative feature
 And if the powers that be would let it alone, even as it is now, We still have a good thing, but they are con- tinually trying to amend the Act so as to render it ineffective to the small farmer by removing all the co-opera- tive features.
 "Now. friend and members I will say that each of you can render very valuable service to this association by trying to be helpful to the present Sec.-Treas. and try to hold him up and not knock. He is very splendid man, patient and kind and will make the association a splendid Sec.-Treas.
 'I shall also ask that you consider the great work and responsibility that is resting on the Board of Directors of this N F l.. Association, they are all very good men and have served the Association well and for the most part without compensation, which the Farm Loan Board at Washington says they should do. But, do not think that We should ask any one to quit his work and go do this or any other work for us without pay. I am only one member but I am willing to give my part towards paying them well for every time they attend a meeting.
 ''The board made a rule when the old loan companies had put us in the supreme court and there was no work on hand, no loans going through, that they would hold back the dividends until times pick up, and they intend as I have heard some of them say that if things get no worse that they will prorate the dividends to each of the stockholders at the end of this year. However they were advised to make the course they have taken from the Federal Land Bank of St. Louis, Mo. Which was pointed out to us the only safe course to pursue in these string ent times in the financial world.