The Western news. [volume] (Libby, Mont.) 1933-current, 1944-01-20
Says Only
Small Loss
On Farm Loans

Un fdnn Loans
Members of the Western Montana
Production Credit Association and
invited guests held their tenth an
niversary meeting in the parlors of
the Bethlehem Lutheran Church
last Thursday at Kalispell.
E. w. Copenhaver, a member of
the Board of Directors and Powell
county commissioner. opened the
meeting by introducing S. S. Mac
lay, vice president of the Associa-
ton. who informed the group of the
activities of the loan committee dur
ing the past year. He told them that
often times the committee receives
applications which cannot be acted
on favorably but this does not mean
that the applicant cannot re-apply
at some future date when his fl
nancial situation has improved.
Mr.. Copenhaver then introduced
G. E. Lewis. secretary treasurer,
who gave the financial report. Mr..
Lewis, with the use of charts,
showed that the Association has
grown in membership and in vol
ume of business each year since its
organization. He went back over
the 10 years of existence of the
Western Montana Production Cred
it Association and informed the
members that this Association has
made 2,74l short term loans for all
agricultural purposes in the past 10
years. These loans total slightly
over s9.000,000 He also pointed out
that the total loss over this period
amounted to s2l4 or 3 cents on each
$500 loaned.
Max Legee represented the Cor
poration office atNSpokane. He re-
viewed the work done by Produc-
ton Credit Associations in the 18th
Farm Credit District which embod-
les the states of Montana, Idaho,
Washington and Oregon. Mr.. Legee
was present when the Western Mon
tana Production Credit Association
was organized in February, 1884.
His talk dealt largely with the
sound principals under which the
Associations operate. He told the
group that the Production Credit
system was set up to be permanent,
to be strictly a farmers cooperative
credit institution, to be operated
and controlled by farmer members
and to loan money to these men,
bers for agricultural purposes in bad
times as well as good at the low
rate OF interest He said farmers
who used Production Credit loans
liked the budget loan program be-
cause the loans were lined up SO
they could draw money for necessi-
ties when actually needed and re-
pay it when normal sales of crops
and livestock were made
The Bethlehem Lutheran Ladies'
Aid furnished dinner for the group.
The meal was excellently prepared
and splendidly served
During the meal, Dorothy Dick
son accompanied by Kay Korn on
the piano, played two violin solos.
Hilda Myre gave dramatic decla-
nation entitled Il Am An Ameri-
can Nancy Nolan gave humor-
our defamation entitled Mrs.
Brown Visits the Hospital These
students Of the high school under
the direction Of Miss Carr present.
ed very fine program which was
enjoyed by all.
During the afternoon session
members voted for one director
Conrad Gilbertson, local farmer
was among THOSE nominated and
voted on for director.
Among those present at the meet
ing were Tim Sullivan, represent
ing the Farmers Union; Harry Jes-
sup, Pomona Master of the Grange;
Lowell Davis, Farm Security super
visor for Flathead and Lincoln
counties, Elmer 10y, representing
Soil Conservation Service. Leonard
Eliason, County Extension Agent;
Joe Marion, old time stockman Of
Niarada and director of the Asso-
citation; Bill Byrne, F. f. A. presi-
dent, Dick VanAlstein, Donald Wea-
yer, and Fay Pemble also from the
F. F. A. chapter. Mr. and Mrs. Roy
Proud, stock raisers of Proctor,
Mont, and Mr. and Mrs. George
koebel and Warren, stock raisers
of Libby.
Mr.. Lewis closed the meeting by
the members Of the com
ing bond drive and the necessity Of
everyone doing everything possible
to make it success. The. Produc-
ton Credit Association at Kalispell
will be a qualified issuing agency in
this coming bond drive.
He advised members Of the As
ISOLATION to line up their credit
needs for the coming year at the
earliest date before spring work
starts on the farm.