The circle banner. [volume] (Circle, Mont.) 1914-1939, 1922-10-20
BY G. w. Fowler

With western Montana alread.
leading the rest of the state in dairy
ing, which industry authorities thu
e world over declare to be the mos
/ prosperous branch of agricultural en-
. deavor, the people of western Mon
tana will naturally be very much IN
terested in the Montana Mutual Dairy
Loan association which has entered
the field as financing organization
for the dairy industry.
The federal census of 1910 shows
the number of cattle being used fol
milk cows in Flathead, Missoula, Ra.
!, yalli, Sanders, Granite and Mineral
counties at 1888, fewer by hall
than single good dairy county OF
Wisconsin possesses.
With it's splendid climate, excel
lent water and quantities of good
feed, this section of the state could
support ten times the number OF
COWS it has, and they should be of a
type which would be twice or three
times as productive as the average
COW now being used for dairy pur-
poses. 1t is for the purpose of fill
ing this need that the association
has been formed.
1t is corporation, organized I'M
der the laws of the state of Montana.
with an authorized capital stock of
| 100000. 1t is much like build
| ing and loan association. 1t lends
money after the same plan upon
dairy COWS as security instead of on
homes. Its principal place of bust
ness is at Missoula, and it will oper
ate throughout the entire western
part of the state.
The association will import first
class high grade dairy cows and pure
bred sires for sale to borrowers at
approximately cost and it will lend
the money with which to purchase
them on long time easy payments
The association will not only lend
money for the purchase of dairy cows
and pure bred sires, but for the con-
struction of improvements such as
silos, barns and other buildings on
dairy farms. When money is loaned
for this purpose dairy cows will be
taken as security.
Knowing we'll the truth of the old
saying that Prosperity follows the
dairy cow" business men, bankers.
farmers and savers of all kinds, in
terested in a good return on their
money and in seeing Montana devel- |
op, will be investors in its stock. 1t |
is believed that by concerted plan
of action, where the COWS are fur |
nished on easy terms, and the indus
try is encouraged by wide and per-
sistent campaign, as much cst1 be ac-
complished for the development of
dairying in western Montana in a |
few years as could be accomplished |
through ordinary haphazard growth |
in 20 or 80 years.
The association, like a building
and loan association, secures it's
funds by the sale of stock to its mem
bers. All stock has par value of
500 per share. The most popular
classes of stock are Investors In
stallment Stock" and Fully Paid
Stock" Investors Installment
Stock" is sold upon the installment
plan. Payment is made at the rate
of soc per share per month for one
hundred months or until $50 per
share has been paid into the asso-
citation treasury. Dividends are de-
clared on this stock semi-annually in
to the amount paid in by
the member. They are computed and
semi-annually, and at
the association pays the in
vestor 500 per share for each share
Of stock upon which he has paid $50.
Dividends compounded semi-annually
accumulate rapidly.
Fully Paid Stock" is issued to in
who at the time of purchase
pay 500 per share for each share
nay be left with the association and II
semi-annually or they
nay be withdrawn at the end of each
tx months period by the investor.
A membership fee amounting to
wo per cent of the par value of each
hare of stock sold is placed in the
association expense fund Members
Who have subscribed for installment
took or fully paid stock may, at the
md of one year, withdraw amount
tanding to their credit on the books
# the association upon 80 days writ
en- notice. This includes all divi-
lends. N
How 1t Loans It's Money
Applicants for loans will be re-
Iuired to show that they are at pres
mt milking cows and disposing of
he product in a satisfactory manner,
hat they have barn facilities for the
ows to be purchased, that they have
eed for them and that they are gen.
rally qualified as dairymen and sat
sfactory borrowers. Having salts
led the association in these respects
he association will lend all the
money for the purchase of dairy cows
tut it will require the applicant to
'ffer as additional security one
ourth as many COWS as he proposes
o purchase with the new money.
That is, an applicant for the money
o purchase eight cows must have
It least two good COWS unencumber
ID, which he offers as additional Sc
urity at the time the loan is made.
Take for example, the farmer who
q vim he oh srav &c n