The Ontario Argus. (Ontario, Or.) 1???-1947, 1922-08-03
MUTUAL COMPANY PLANNED
TO FINANCE OREGON Men
Wade Siler Here to Interest Stock
men and Ranchers in New Con-
cern-Idea One That Has
Long Been Sought

Wade Siler of Portland, formerly
of Enterprise, who is here this
week visiting his brother-in-law, o.
M. Castleman, is representing a
new financial effort to finance the
stockmen of Oregon, known as the
Producers Finance Corporation. Mr..
Siler is well known in this section
| for he has bought wool for years
in Eastern Oregon and was heavily
interested in Enterprise business
concerns prior to being associated
with Mr.. Castleman in the owner
ship of the Ontario Pharmacy In
speaking of the new venture Mr.
Siler says:
| There has long existed a recog-
nized need for some strong financial
organization with a large capital,
made up chiefly of the stockmen
and producers themselves, which
should be especially fitted to serve
as medium of collective credit and
clearance between the livestock
borrowers and the financial institu-
tions. Until that day comes you
will be compelled to bow to the in
evitable, absolutely dependent up
on the other fellow for a paltry ex-
istence.
The agricultural credit systems
of foreign countries and more par
ticularly our own federal farm
loan systems, have taught us great
lesson on the subject of financing
the most stupendous industry in the
world-the producing and market
ing of farm products. The federal
farm loan system met with much
unjust criticism which was unheed
ed, and today that institution
stands as a beacon-light, guiding
the famer as he enters the harbor
of safety and success.
The Producers Finance Corpor-
alton, with headquarters at Port
land, Oregon, is being created to
serve both the livestock men and
producers of Oregon, Washington,
Montana, Idaho and. California.
This medium of collective credit
and clearance, its chief purpose will
be to aid in financing and market
ing the livestock and related pro-
ducts in most thorough and sys-
tematic manner.
1t is proposed that the Produc-
ers Finance Corporation shall be
first and foremost-a service cor
poration. There is a crying need
for millions of dollars annually, in
addition to that already being sup
piled through existing channels,
which money must be easily avail
able for the reasonable and legiti-
mate needs of the livestock men
and producers; and this money must
be available at the lowest current
rate of interest. 1t is the purpose
of the Producers Finance Corpor-
alton to render the service of sup
plying these funds, and supplying
them at the lowest rate possible. Il
1t is believed, however, that by
serveing the livestock and produc-
ers interests on this basis, suf- |
ficient volume of business will be |
handled annually, as will enable |
the corporation to earn most at
tractive profits, thereby proving |
that. "He profits most who serves
best"
Those who have conceived the |
idea of creating this service corpor-
alton. are most desirous that the
preliminary work OF securing the
needed finances will be largely done
by the stockmen and producers
through their local as
sociations and the individual effort
on the part of those who thoroly
realize the urgent necessity of such
a corporation. |
Monday evening meeting of a
number of those interested will be
held here in Ontario at which time
Fred Wilson, who is we'll known to
the stockmen of this section. will
be present to discuss the company's
plans,