Bemidji Daily Pioneer Newspaper, June 22, 1920, Page 3

er of farm loan honds, ‘ige lo:dm onl "on‘ fiz gage mproved: to:the -extent of fifty per cent:of the wvalue of the land'and twenty percent of :th lue’ of ‘permanent improver ments.. Two appraisments;are made. Borrowers, further, ;must Day each .| year .not only interest on .the ;loan 3.4 deairable ends. have been ‘sought itional sum '“m‘,"l“ ‘and-are in a Iair way to being|. ’ ;mfilmd in darge meu{‘ln‘. :he tirst | D 8 .that, farmers; have been given & ii¢d that of the ordinary vuilding ki 4 “""“‘1{ wh;el: ‘th:y‘ e b-121d 1oan association familiar to'most fi“tn" oans e :t ‘;’0’:": ot | American communities. :thoir ‘money from' the !‘;l:::'n! l“g | hanks ‘by;indorsing; guaral ng. an ‘| pledging ™ tgeqe 'l;at ‘mortgages, or pited States Bonds, with the bank. ; e they ~m st sub- ity of . oper l).nited Btatos w:ern t-ntly bg ing. put ' up the:: lvorage s ans hnw ‘been estab will ultimately|yrpon these morfnges as a basis, and loag almost o ith the approval of the Federal sye- 3y, to' the mrmers ot the country, who em,’ the Federal Farm Loan Banks A t fl i may issue bonds covering: the amount (the plan: of their own ‘léndings. ‘ Two types_ of "‘mfl“ are provlded ..In the event that No Farm Loan or/ by \the.terms of ithe act, -and"in nssoclatlon have ‘been ‘orare ‘likely order that the. dlsfinction between | ¢ be organized in' any given. local- ity, banks, trust companies, saving- banks’ and mortgage-companies may act as agents for the Federal Land bank’ of the district in the role of intermediary between :; prospective +| borrowers ; and ' :he bank. &n such case ‘the agent nstead iof e -asso. ral Reserve districts—and in each| iation indorses and .guarantees the strict,”a certain city is appointed mortgage. There is a legal limit on farm loan city. ‘The law. Pro-|the amount of' ‘such indorsements des that in each city a Federal|ywhich any institution may under- nd Bank, with a minimum capitali- take. Zation: of $750,000" bo - established. | “gyen 15 the organization behind “The original capital for establishing|ine Farm Loan bonds which are con- “these banks was provided by the ma-|gianily coming into. the market. al government, but. the govern-|myeir gecurity is unusually. strong. thare will gmwjm ‘a8 ‘time First, is the pr perty idtself. d ved eomqs he Farm ::Loan ® association Hability,” “or. the iy oA CeaTiaY A wirphas of and finally the ¢apital and surplus o -tions: known as Farm Loan associa- the Farm Loan Bank. There is fur- ons,. which are °,'3f'“fl“d by thefyer protection in:the growing sink- ers themselves' ‘far' ‘their own';n’tynq held by:the'association, as Denefit. For each one hundred-dol-|ips provision. of ‘the law that the 1jrs; borrowed, eachborrower must|y,; a0 of any farm, loan:-bank are the, ‘subscribe, .to. five..dollars’. . .worth- .of. § s%ck in. the association, and.on- this Joht Hw’bflity{o; n?:s‘ both ! :l(gck there is double liability,. which! %%, : émh 1%2!000 are’ employes of Swift & Company who own shares - in the business. . An addnt:onal 13 000 employes cies, ‘its m;egr;ty and purposes. That is ‘why they xnvest their savings in shares. u 3 S 5 ‘\;:,} yfl years. Thébres at: 4 8wift & Coihpany & » bought and sold on the Chxcago and Bdstefi stock, exchanges. ARy | The' ”coifipany xtself ha& " RV shares for sale,- ; The sha Vrepresent“dctual' tangible values;; There is‘no watet.“ v Anybody — livestock ‘man, “‘retailer, or consumer—may.-buy ' them and thusbeeome a part owner ! : of Swift & Company. % Novofe mh,'no 6ne tamfi} owns as much as half of ;he.smk. of acquainting. you's with the\fact that. : | swift & Company is mot a ' close cor- poration,” and that any 'ene may gmmplte in the profits—and: share e . ‘risks . ‘and reapms-bilmeohby beoommgashareholdcr. 40%: :Sw1ft & Company, U S. A Bemidji Local: Branch (358 W. J. Miller;-Manager Then |, v'e ‘been issued .mature.in: twenty y;ln, though a special provision says| that'they may be redeemed at par af- ter five years., Their genominations|: are '$25, $50, $100, $500 and $1, 000, Thelr ipterest rate cannot. be. more than five per cent. - The prevailing rate; upito the present has been' four and one' half ‘per’ cent. nre called by the law “instrumental- n |ities of the United States government’ d{ag such are ‘exempt' from-federal state'and local’ taxes of ‘every sort except” inheritance taxes.. They are legal inyestments for all fiduetary. and The Farm' Loan association obtain |’ Ford Cars. Fordson Tractors. Oliver No. 7 Gang Plowt Oliver No. 3 Sulky Brus Breakers. Oliver = Walking Brush’ . Breaker. Roderick Lean Disc Har- Phone 474 The bonds|' tiom, indivi Their,' minfmum up before an: chines. Delco Farm Light Plants. Kelly. Springfield Tires. Detroit. Storage Batteries. United' States Tires. . Violent Ray Lenses. Mobiloil-Oils and Greases. Your friends and neighbors areusing some of these money and labor saving equipments. Their recom- mendation is our best sales argument. time of the year when you need them. " Place your order at once. . C. w_JewelI 0o, Inc. o - Bemidji, Minn. capitalization -6250.900, ‘all ‘of which must be mm bonds are issued, _ _standard and dependable merchandlse' Anué.o Grain Drills. Port Huron Threshing Ma- This is the * TO KILL a policeman. *' ~ DID SMELL good. " AND 1 followed him. "FOR REALLY those cigarettes. ;runc lundn under ‘Federal’ ’]urlsd!c- bligations may' e S A AL g I'< 6 may not be'undertaken in | Thetr relation’ to the value of xcess of fifteen times the capital and |land and improvements on which 8 |surplus of the issuing bank.. . In gen-|mortgage is issned is the same. TI eral their security is the same as that |are not, however, the joint liability of Jomt atock land bonds ‘are bonds|of: the fatm l1oan bond, though thejall the banks but of the th t klmllu in' almost every ‘particular |law provides' that ot the | b e They. Sra ognl LUROE. M‘Ffim"flm Fl"ml L Srer Al P s’ that in tha case ‘of the|bank alone. ghief erence is that they areiis-|in the state in wi - sued by joint land banks whose form- |cated or inone s e ikt o} et duniellchon uuthorlzssd hbi tl;e‘ Fedorlg ’l;nvlslons as to the interest rates, uch banks are not|denominations, - a capitalized by the government but by g ax $Eemptions alg, firms' - or -corporations. | They are legal invest- The | point stock bank loans be made either | ments for fiduciary funds \‘mder Fed- and a number of states ‘have given them the pame status as Federal Loan Bonds as im- vas!ments for tfruat {funds or savings- contiguous ' state. me' tor hoth types of bonds. | ba Pofl" der t}us-- For the first time since they began their spree of spending followmg the armistice, Americans app}arently .are beginning to realize that every dollar saved now is likely to buy $2.00 worth a few years. hence. Remember that the next time you start to'spend a dollar for something that you do not need, deposit it in our savings department and watch it grow. The ’ Nortl'lern Natlonal BEMIDJI . - "MINNESOTA ||||III||IIII|IIIIIIIIIIIlIlIIlIIIIIIlIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII DALY HDNER.WANT ADS BRING RESULTS _IIIIIIIIIIIIlIIIIIIIIIIIIIlllIIII|II|IIIIIIII|||IIII|lI / mumwmnmmnmmmmmmmummmmumuunm EVEN THE eggs. o o0 WERE TIRED that morlllfll. b . ® e AND THE coffee. DIDN'T FOOL me one bit. IUT WHEN ltter breakfast. * o ! | : ! MY CIGARETTE tasted awful | | ! i Y 1T WAS too much. e o0 AND A grouch started. AND WALKING to work. | SWORE oft ‘smoking. AND.DECIDED to fire. e o 0 MY OFFICE boy. BUT JUST before I dectded. e e 0 o o0 A MAN passed me, ; | bmoxma A cigarette. < | AND SAY but the smoke. { : s o o o THAT DRIFTED back. B o o # ' Y INTO A store.. . HE THREW down two dimes. AND SAID “The same.” AND 80 did L | Lee AND 80 I'm still smoking. DR AND ‘STILL keep that. o o o OFFICE BOY. lnd I let that. ,...mnspue POLICEMAN live. l g ;.4 { ,* AND_I'M ;oh.n toboost.| * ‘ e 0 » JUST a ‘whiff of that spicy aroms of 4 THAT MAN I followed. % ai fine Turkish and Domestic 'Dhlm : FOR PRESIDENT or something. FALswke you axg) bolakc ate. = fy’' smoke. There are blends and’ 2 v blends, but none like this one. Chester» /' field’s blend is & mretlnd lteunot "4 ‘ be copied. DO SATISEY., CIGARETTES _.___+_‘