The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1922-01-05
TREASURE STATE FARM AND LIVESTOCK
MONTANA WAR FINANCE AGENCY APPROVES
$4,000, 900 LOANS FOR MONTANA ST0cKmEM
ON APPLICATIONS RECEIVED UP TO THIS TIME

company to repay the amour of the
advance at maturity, with interest as
stipulated therein.
Advances Must Be Secured.
The law also provides that all such
advances to banks or companies
above described shall be fully and
adequately secured in each instance,
by endorsement, guaranty, pledge or
otherwise. 1t further provides that
such advances may be made for a pc
riod not exceeding one year, although
it is apparently contemplated that
the corporation will, from time to
time. extend the time of such pay
ment, if it deems it advisable to do
so. In no event shall the time of
payment be extended beyond the pc
Rod of three years from the date up
On which such advance is originally
made. 1t should also be noted that
no bank or company is permitted to
receive from the wal finance corpo-
ration an amount in excess of the ag-
gregation of the loans of such bank
or company, made for the purposes
therein described, namely, agricul-
tural purposes, which term includes
the breeding, raising, ct cetera of
livestock.
Those interested will therefore
readily understand from the reading
of the law that individuals cannot Sc
cure advances from the war finance
corporation by direct application; but
such advances must come through
their banks.
Applications Approved
Up to the present time the Montana
agency of the corporation has re-
ceived from banks and companies 1874
applications for advances, a%ggregat-
ing the sum of $7,732,000. The Mon
tana committee has approved 125 ap-
p~lications, aggregating $5,466, 900,
while the office at Washington, to
which such applications must be sub
mitted for final approval, has ap-
proved applications aggregating ST.
$4,000, all of which latter sum has
been paid over by the federal reserve
bank as fiscal agent.
Aid For Stock Interests.
Certain public spirited individuals
and banks of this state, DESTROYS of
assisting the agricultural and live
stock interests of Montana to secure
the fullest advantage of the provi-
sions of the act, have recently con-
tributed to the capital stock of a new
corporation, organized with head
quarters at Helena. This company
was organized at the instigation and
largely through the efforts of T. A.
NARROW of Helena. 1t is a private
corporation and is in no way connect
ed with the war finance corporation.
It's capital stock is subscribed by
banks and individuals of this state.
It's authorized capital is 100000.
The officers of the corporation are
as follows: Sam Stephenson, Great
president; S. McKennan, Hell
lena, vice president; A. T. Hubbard,
Helena, secretary-manager; T. o.
Helena, treasurer; T. o.
Larson, Choteau, field manager in
of inspection and inspectors.
This corporation is organized for the
purpose of doing business only with
banks, from which latter it purchases
stock loans only.
Must Back Its Advances.
Under the provisions of the law a
corporation such as this is permitted
% make application to the war fl
nance corporation through its Mon
ana agency for advances necessary to
in financing the livestock in
iustry of this state. No applications
rom individuals for loans are con-
.l---1 - 4I.- a-aAs41 -
1t is confidently expected that
through the medium of the banks and
ompanies of the state a very large
UNI, sufficient in amount to be of
assistance to the agricul- 1
ural and livestock interests of the
tate, will be secured as the act pro-
ides that, if necessary, funds may be
royided to the amount of n billion