Fitzgerald leader enterprise and press. (Fitzgerald, Ben Hill County, Ga.) 1921-1964, 1924-06-05
MONEY IS NOW
AVAILABLE FOR
THE FARMERS
First National Bank Arranges. With
Land Bank For Financial Aid For
Agricultural Interests

lhe First National Bank of Fitz-
gerald constantly alert to the needs
OF Our community, and alive to every
opportunity to expand its service. has
perfected arrangements with the A.
!anta Joint Stock Land Bank of A.
ialta Tor the purpose of lending fl
iahciai assistance to theAgricultural
interests OF this locality. The Atlanta
JOINT otock Land Bank of Atlanta is
tne strong financial institution organ
lzed under the provisions of the Fed
eral Farm Loan Act, chartered by the
Government and operated under gov
eminent supervision.
Under the provisions of the Federal
Farm Loan Act, the Atlanta Joint
stock Land Bank will operate in the
states OF Georgia and Alabama, with
an authorized capital of $2,5OO0OO co.
Inc Joint Stock Land Bank is per-
mite to use joint stock land bank
ponds up to and including fifteen tim
es the capital mad surplus, and this
VIII afford millions of doars for the
refer OF farmers at a minimum ex-
pense. The Act provides that farm
owners shall not be charged in excess
OF per cent on loans, to extend over
a period of 80 years, on what is
known as the amortization plan. This
means the gradual liquidation of the
loan, both principal and interest, in
Seml-annual payments on easy terms,
so that at the expiration of the mort
gage the entire obligation has been
paid: Therefore, the Joint Stock Land
Bank mortgage is known as "The
Mortgage that never comes due"
The Atlanta Joint Stock Land Bank
OF which the First National Bank of
Fitzgerald is correspondent and whose
officers are stockholders in the Allan
ia institution enjoys the unique distinc-
ton of having every loan made by its
officers approved without reservation
is recognized in banking circles as one
OF the most successfully operated in
situations of its kind in the country.
The Atlanta Joint Stock Land Bank
is an institution chartered under the
provisions of congress known as the
Federal Farm Loan Act, for the
purpose of making loans on farm lands
in the states of Georgia and Alabama.
Loans are not restricted to actual far
mers who live on their farms, but are
made to both actual farmers and farm
owners who are engaged in other lines
of business or the professions.
All loans are secured by first mort
cages on farm lands and the proceeds
. of the loans must be used for purposes
kNith the spirit of the Federal law, that
lis, having for its ultimate object, the
promotion of agriculture. No loans,
are made to spectators. Loans are
made on the amortization plan, under
which both principal and interest is
paid by a fixed number of equal semi
annual payments.
The officers of the Atlanta Joint
Stock Land Bank, which was organ
lied Oct. 1922 are as follows: A. B.
Simms, President; E. Rivers, vice
president; L. G. Council of Americas,
Ga, vice-president; B. w. Pruett OF
Admission, Ala, vice-president; Frank
w. Allcorn, Jr., secretary and treasur--
er and Randolph and Parker, General
counsel.
The Board of Directors include
leading bankers in the State of Geor-
gia and Alabama.