The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1925-04-30
BANKS TO HELP
FARMERS OUT
Wisconsin Mortgage and
Securities Co. Promises
to Help Farmers.
OF INTEREST HERE

terest in the formation of the Wis
consin Mortgage AMI Securities COM
pany, financial consolidation which
is to become effective about June l.. 1t
is believed that this organization will
greatly help farmers in this county
as we'll as throughout the state to
finance their needs.
The Bankers finance corporation and
the Wisconsin Mortgage and Securi-
ties company effected a consolidation
that is of great Importance to bankers ;
security investors, and to the agri-
cultural interests of Wisconsin.
Instead of two successful organi-
cations with interest somewhat in
common and having the same broad,
general purpose, namely, to provide
easily availsbie credit for the states
agricultural development without
overlooking focal banks of the agri-
cultural communities with their pa
per, there will be one, larger and
stronger institution.
Heretofore the mortgage company
has confined itself to the business of
purchasing farm mortgages of local
banks and consolidating them into
bonds, with the First Wisconsin Trust
company of Milwaukee as trustee, thus
providing security of the safest
character for the investment of indi-
vidual, bank, executor, trustee and
private funds.
Valuable Relief for Farmer.
On its part the Bankers Finance
corporation has created another valu-
able financial relief for the farmer in
need of short time credit, credit to
buy necessary machines or build q
silo.
His local banker makes the loan,
payable, perhaps, in installments over
a series of months. The corporation
takes over the note, endorsed by the
local bank making the loans, and then
consolidates many of these notes in
the hands of E. A. Reddeman, vice
president of the National Bank of
Commerce, Milwaukee, as trustee, and
leaving 20 per cent margin of safe
ty, issues and sells the corporations
short time paper against this security.
Meets Two Needs.
Two important results have thus
been accomplished. The farm bor-
rover gets the money he needs when
he needs it, and the finance corpora
ton minimizes all risks by being able
to spread them over every part of the
state, so no merely local conditions
can be factor of serious danger.
Briefly, this is the system, that
has helped. both Wisconsin farmers
and our local bankers to keep an even
keel of confidence and prosperity
through the recent few years Of post
war imitation.
More than one-third of the local
bankers of the state are represented
among the stockholders of this con-
solidated enterprise, which goes for
ward from this time with paid-in
capital of over 100000, and assets of
over $1O,0Oo,000.
The personnel of the new insti-
tuition is one to command attention.
President Moehlenpah, who was the
first president, and for four years the
exective officer of the Mortgage Sc
curities company, came into the under
taking with exceptional experience.
He had been for 20 years executive
officer of the Citizens Bank of Gin
ton; a community center of dairy
farming. Coming to Milwaukee in
1914 to take charge of the Mortgage
company and the Bankers Joint Stock
Land bank, he was later called to
Washington by President Wilson to
serve upon the Federal Reserve board,
succeeding r. A. Delano of the Wa
bash railroad.
Vice president Smith was for Is
years cashier of the Merchants and
Savings bank of Janesville; four
years with the bond department of the
Harris Trust & Savings bank of Chi
cago, and was the first secretary Of
the Wisconsin State Tax commission.
He is now q director of the National
Exchange bank of Milwaukee.
Represent Many Banks.
The officers and directors Of the
new Wisconsin Mortgage & Securities
company are as follows:
President, H. A. Moehlenpah; vice
president and treasurer, 8. M. Smith;
E. j. Perry, Fond du Lac, second vice.
president; John Rose, Green Bay, sec
rotary; L. T. Hammond, Milwaukee,
assistant secretary. Directors: G. S.
Morris, vice president, First National
bank, Berlin, Wis; E. ]. Perry, presi-
dent, First Fond du Lac National bank;
John Rose, cashier, kellogg National
bank, Green Bay, Wis; w. E. SPEECH
er, cashier, State bank, independence,
Wis; George D. BARTLETT vice presi-
dent Bank Of Sherwood, Milwaukee,
Wis; ]. ]. Jameson, cashier, First
National bank of Shullsburg, Wis;
Earle M. Pease, president. Bankers
Joint Stock Land bank, Milwaukee,
Wis, E. A. Reddeman, vice president
of the National bank of Commerce of
Milwaukee, Wis; E. B. Hawks, coun
sci, Milwaukee, Wis.
The new organization is distinct
ly a bankers corporation and there
are about $50 stockholders among the
bankers of the state AS has already
been suggested, the broad underlying
program is rural credit-the loaning
of money upon the improved and go
ing farms of our state, and the extern
sion of credit for short periods to
farmers through local banks and other
working units that are serving farm
ers. The corporation will, as hereto
fore, be the distributor of the we'll
known Wisconsin farm mortgage !
bonds for five and ten years, and of
short time credit notes running from
three "a nine months