The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1936-02-21

notes to that, and give Won q war T.
renty deed. This would be to vonr
advantage and the company would
like to get it's money because it
needs it."
Hurshel recalled that in the fall
before H. B. Smith had offered
him a warranty deed with ali
notes marked 'paid in full" for
81 600 cash which he could not
raise at that time. "Well'' answer
ed Callahan, 81 have some debts
and taxes to pay, and thew are
preferred claims. l owe the ma
chine company about $4,000. and
Boulder Jensen $4OO or $500. and
they must be paid before a cent
can go to the company" alright"
said the agent, pay the debts and
give us the. rest, and we will give
you your deed-that would leave
US about $4,000" "I will apply
for the loan in the sum of S17,5O0.
and pay my debts as stated, and
turn you over the balance. which
will be about $4,000. Maybe /
can't get that much. will tell
you what I will do. l will put in
the application, take what is
granted me, pay off the debts, and
give the Union Central the hal
ance." alright, the company will
do that" replied the agent. "When
it SHOWS and gets too cold to ped
die fruit and vegetables, / will
return to Redstone, when will
make an application for the loan
at once" continued Callahan. To
which the agent agreed. There
were no complaints, not a word
and never had been, suggesting
that Callahan had not lived up to
his land purchase contract. There
was no fault finding because there
had not been a substantial pay
ment on the purchase note for
three or four years.
Now by verbal contract, and
Hurshel had had many such con-
tracts with the company, it was
agreed that he was to apply for
the federal loan, pay off his debts,
and turn over the balance to the
Union Central when the company
would give him a deed. All this
to be done when the loan was per-
fected. There was no time limit
and no other conditions.
Callahan returned to his home
at Redstone on January IL, 1884,
about a month after his conversa-
ton with the Union Genital agent,
and while in Plentywood on his
way home that very day, he con-
tacted a Mr.. Patterson, special
agent of the Federal Land Bank
of Spokane, located here at Plenty
wood, and made out his application
and paid his application fee in the
sum of SIS. He applied for a loan
Of $17,500 on his fine farm, one
Of the best improved and titled
farms in this section of Montana,
which he himself bought in good
faith for over $4,000, and on
which he had already paid
over twice the amount Of the loan
applied for. Callahan never doubt
ed for moment but that he would
get the entire amount Of the loan
applied for, when as a matter Of
course he would pay his debts and
turn over about $4,000 to the
company. In his mind the matter
was settled and he only awaited
the coming of the money to carry
out his part of the deal. He paid
the appraisal fee of $25. The To-
cal appraisers Of the 500 Farm
Loan Association of Outlook, Mon
! tana, thru which he made his ap-
plication for the loan, namely,
Tommy Peterson, of Outlook, Roy
Collins of Raymond, and R. r.
LELAND of Antelope, in due time
made the appraisal for the local
loan association, and recommend
ed the allowance Of the full am-
cunt applied for. In time, the APP
praiser of Spokane Land Bank, a
broken banker of Vida, McCone
county, appraised the farm, and
he said to Callahan, "This is the
finest farm ever appraised" and
he very definitely stated he had
appraised the farm for a value
more than enough to carry the
loan applied for and in the face OF
facts and conditions, he would
positively recommend the loan in
full. So Callahan was now sure
that in time the money would ar
rive when he would pay the com
pany and get his deed, and he
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