The Bozeman courier., 1926-09-10

the organization of the Northwest
Land q Finance corporation, q
proposed $25,OOO, 900 company de-
signed to stabilize land values and
improve general trade conditions.
have been summarized in a state
ment issued at Minneapolis by a
cOmmitte that has been working
on its formation.
! The project has received the in
dOrsement of the Minnesota Realty
association and numerous banking.
civic and commercial organizations
of the northwest and was proposed
by Howard Everett of st. Paul
The corporation as contemplated
will be privately owned and operated.
Capital will be invested in selected
desirable underpriced farms in the
northwest that the company may de-
sire to carry until such time as land
values have reached a more perm
ahent level. These farms will be
offered for sale to experienced farm
= ers on 10 to rs years time with very
small down payments.
Additional funds for investment
are expected to be obtained from
the sale of debenture bonds sold
with these lands as the underlying
security. Further objects Of the pro-
posed corporation will be to act as
agent and to lease, manage, appraise
and sell land for others.
Corporation Aims
The corporations statement of aims
, follows:
'There are apparently no ade-
quate means for taking care of the
mOrtgage-foreclosed land situation
In the northwest. Lacking these ia
cilities, owners are unable to sell
and customers unable to buy. I'm
til this Is made possible. there can
be no stabilized values in the CAP
ital investment of agriculture.
! Besides the extensive acreage
! that has been acquired by local in
: stitutions and individuals, thous-
: ands of nOn-residents scattered
! throughout the United States have
: come into possession Of farms
: through mortgage foreclosure who
: are not in touch with local condi-
tions or values and are without the
!, necessary experience, finance or ia.
Z ciliies to enable them to operate OF
dispose of their holdings. Many OF
these farms are uEoccupied and un.
cultivated.
II ga corporation with large capita
+ such as proposed, with an organized
q co-ordinattve plan of settlement anC
8 finance Will furnish opportunities tt
n purchase such of these lands as ar,
+ desirable with small down pavmen
and long time, easy terms. It viii
give early relief to banks, business
houses, receivers and individuals ans
immediately tend to change thu
whole psychology of farm thought
y stabilize land values, encourage &
Y Dack-to-the-land movement and re
store confidence"
Further leaders said, it will:
E Create demand for farms amonj
desirable, experienced tenants whC
are provided with equipement anC
are now farming the higher-price,
r lands of the central states, by af
Il fording them with the opportunit,
S, to purchase with small cash pay
ment and long time terms.
Stimulate local demand by Great
ing foreign demand.
Create a back-to-the-land move
ment by publicity and ADVERTISING
the personal solicitation of settler
by supervised agencies, the grouping
of observation-disclosures lands int
communities of ownership more at
tractive than tenancy.
Reduce tenancy and encourag
: the operation Of farms by owners.
Bring about a closer relationshi
: and better understanding by an
between life insurance companies
Mt farm loan companies, fraernal Soc
9r eies and individuals holding frs
is mortgages on land and local bank
and business houses holding secon
st mortgages and prevent unnecessar
in foreclosures.
> Furnish a market for desira bI
ls lands acquired by banks and say
p many of them from liquidation.
Furnish a market for desirabl
y mortgage foreclosed lands acquire
"a - by investors or their dependents VIII
10 are without sufficient income, e1
q perience or knowledge of farm maj
=, agement to protect their interest.
- To Furnish Better Market
lA Furnish a market for lands a.
~ uuired by state banking department
. acting as receivers for closed bank
" and for lands acquired by the T,
ds ceivers of national banks, thus avoi,
es ing further depression of land valu,
caused by offering the same for sa
to highest bidders.
of Build up public morals and r
ed store confidence in agriculture an
he finance.
Ter Encourage stockholders who ha'
IL, been doubly assessed to further fl
III, ance banks in which they are inte
is ested, thereby saving their origin
ice investment and avoiding losses
le- depositors, etc.
in stabilize land values and esta
lg, lish a demand for land securities.
Va Enhance the market value Of ra
TT, way and industrial stocks.
er- ''Put in circulation millioni Of dC
rer lars now IN hiding.
ley stimulate the lumber, ininin
de manufacturing, jobbing and all /
dustries.
"Result in the subdivision Of lar
me small grain farms, accelerate Il
IN transition Of farming methods, e
IN -s~.-~.e~, T4~rorofffoG fovs~,,S~.u a-,I a.