The Nonpartisan Leader Newspaper, February 1, 1917, Page 14

D L A New Loan Law for Montana in Sight The Farmers May Get at Least one Piece of Good Legislation | ~ from the Present Legislature By Special Correspondent “TELENA, Mont, Jan. 27.—If, as H now seems probable, the sitting legislature passes one of the greatest pieces of financial legislation in the interest of farmers, it will large- ly be because political forces realize the srowing strength of the movement for political independence of the tillers of the soil. Montana is in a fair way to have the best farm loan law of any state in the union and one which other states may copy to the enormous bene- fit of its farmers. In 3{15 state the investment of the permanent funds is entrusted to the state board of land commissioners. Until now these funds have been in- vested in county and municipal bonds, schgol district bonds, road and bridge bonds, etc. It is proposed in a bill now being drawn in the office of Attorney General Ford also to permit the board to loan the funds on first mortgages on improved farm property at 6 per cent, for periods of not less than three years nor more than ten, the borrower to have the option on 10-year loans of EQUITABLE AUDIT CO.,Inc. "% suion Farmers Elevator Companies’ Home of Auditing and Systems for Accounting. Write for References. 575 Down After 30 Days Free Trial Think of it!—Only $7.50 if satisfied after trial—then a few monthly &nymcnta—and—}'ou keep the Genuine Belfian Melotte— the separaf easily it will run 80 minutes after you lto&cnnkmz Write for catalog—it ezplains everything. Now- Not a Cent in Advance it back at our expense if you wish. Or $7.50 down No Duty Now Free The high tariff, which has here- tofore kept the great Melotte out of reach of tho American farmer has been cut nfl': off. The Imported Belgian Melotte now comes in free of all duty. Extra reduction now of $15.25. Weoffer youthese scparators at the rock-bottom, before the war price— Hinams e churrd o Dolglim only $1. ¢ uoppznunl'.v. Send for catalog. It — tists. 88 pages: no adv. san Leader. THE JANESVILLE MACHINE CO. JANESVILLE, WIS, 1-24-17. The Nonpartisan Leader, Gentlemen: ith th derful, self-balancing bowl. The r with the wonderful, gel g b e e —read our offer. z ust ask for a 80-day free trial. s Use th ch';‘heg we ship the h}flott% dNo nlui man calls to bother you. Use the machine in every way. er ays, sen ! k-bottom off o Batkiaze i Ioe saihe monthiy payinecis. - Weits for tres Caiaiog aad dotails Save$1525 Valuable Book Write today for **Profits able Dairying’® written by Professsors Benkendorf and Hatch, the two great, tical dairy sciens ortistng. e and care for cattle—how to increase dairy profits. Wi 'oday We'llalsosend the new e rit'e T =i lay le?nltta c:?hl-al and details 3 o 5 - Beat offer. Write while this offer lista- " The Melotte Separator H. 8. BABSON, U. S. Manager. Dopt. 5902 19th & Callfernia Ave., Chicage Pleased Them Here is what one of the big machine firms says about advertising in the Nonparti- The general agent, Mr. Hass, stated to the Leader that they were more than pleased with their results from using the Leader. While here at the Im- plement Dealers’ Convention, Mr. Hass said they were still receiving replies. We wish to express our appreciation in regard to the good results we have had from our Ad in your pub- lication week previous to the Grain Growers’ convention. We exhibited the Farmers Favorite Four Inch Grain Drill and the Janesville High Speed Tractor Plow at the Grain Growers’ convention. We had large numbers of farmers interested in our Exhibit the entire week. Col. Sam Routzong Gen- eral Traveler for the Farmers Favorite Grain Drill was present from St. Louis, Mo. for the Northwest and W. W. Hubbard, Northwest repre- sentatives were on the ground all of the week. They were kept busy demonstrating the machines to the hundreds of farmers who were in attendance during the week. And we are receiving on an average of 6 replies daily from the above ad. Exhibit was shown at the New Union Transfer building on N. P. avenue. Yours truly, THE JANESVILLE CO., C. A. HASS, General Agent. Advertising in the Leader will give you results. It goes into homes of the best farmers in the Northwest. 60,000 farm- - ers are reading Leader ads. . Try one. Mention Leader when writing advertisers elotte turns so ‘Tells how to feed C. A. Hass general agent FOURTEEN paying 10 per cent or any multiple of 10 per cent on the principal after three years. In order that such investments may not interfere with the purchase by the board of county, municipal, school dis- trict, road or bridge bonds the law provides that. the board may resell such bonds, whenever par and accrued interest can be secured, and reinvest’ the money in farm loans. In other words, the board is empowered to make what may be termed an endless chain arrangement. MORTGAGES WOULD MEET READY SALE To further enlarge the supply of money the board will be authorized to resell the farm mortgages, and again invest in other farm mortgages. By this plan it is calculated that many millions of dollars will quickly be available for farm loans. At the same tiine there will be a quick market, through the board, for all other forms of municipal and county bond issues. The state agent of one of the big life insurance companies doing busi- ness in Montana has already declared that his company will buy the farm mortgages from the board in large quantities, and that the market for them should only be limited by the amounts available from time to time. The agent referred to states that his company will gladly pay the board a premium of one-half per cent, so long as the mortgages bear a 6 per cent in- terest rate. It is calculated that the premium re- ceived on these mortgages would more than pay for all the expenses incurred by the state in making the loans, so the law will provide that borrowers will be put to no expense other than the procurement of abstracts of title. LAWYERS APPROVE DETAILS OF PLAN An examination into the rates of in- terest borne by the securities in which the permanent funds have heretofore been invested shows the average to be about 414 per cent per annum. By the law proposed the permanent funds will gain 1% per cent annually, or $15,000 on each million dollars loaned to the farmers. The legislation proposed will be trail- : * blazing in character, but Montana is not afraid to lead the way. The plan - has the approval of the best constitu- tional lawyers in the state, and of a big majority of the strong men of both house and senate. Already three of the state’s biggest daily papers have been enlisted in support of the bill, and others will fall into line. Other than the triumph of the farmers of North/ Dakota this will be the biggest victory over the high interest sharks ever achieved by the soil grubbers of any state in the union. And what a lesson this will be to the farmers in the country when they come to think it over; what a demon- stration of how it pays to be the gove ernment. PROUD OF MESSAGE (Editorial in the Hazen (N. D.) Star) The Star for one is proud of Gover= nor Frazier’'s message as a whole and we heartily indorse many of his recom= mendations. He advocates good roads, wants to put the oil inspection job in the pure food department as under the present system your gasoline still freezes, but it does create a lot of poli- tical appointive offices. He also wants the hotel inspector put under the pure food department. This is another poli= tical job that should be done away with and a lot of money saved. He wants the fire marshal's office abolish- ed which we heartily indorse. This of= fice is a joke or has been since its creae tion and only has been a plum for the faithful politicians. —_——“——-—’:’ -lx. FROM IOWA Preston, Iowa, Jan. 10, 1917. Mr. A. C. Townley: I have been greatly impressed during the past few weeks by the dispatches in our Iowa papers re- ferring to your unique organiza- I tion of the North Dakota farmers. I consider the work done by the members of the League at the last { election as one of the MOST RE- | MARKABLE DEMONSTRATIONS of CO-OPERATE STRENGTH the United States has yet seen. ‘We need such inspirations here. With respectful congrdtulations, | l Yours most sincerely, REV. ALFRED TONGUE. . — &% TRUTH ABOUT PAULSON’S MEETING ‘IS TOLD BY MEN WHO ATTENDED IT Hillsboro, N. D., Jan. 27, 1917. ‘We, the undersigned, farmers and citizens of Traill county, North Da- kota, do hereby certify that we attend- ed the meeting called by Senator Paul- son in Hillsboro on the evening of January 20th, 1917; that we were in attendance at said meeting until Sun- day morning, Jan. 21, and saw and heard all that took place and saw and heard all the men who spoke at that meeting. ‘We further certify that league repe resentatives were there by invitation, and further that Senator Paulson in- vited the league representatives pres- ent to address the meeting, and that they did not address the meeting un- til invited to do so; that the meeting was called by public notice to hear all sides and that Editor Davies of the Grand Forks Herald was among non- county residents who attended and sat on the platform near the chairman. ‘We further certify that no resolution was passed, or no vote taken, in any manner whatsoever, in opposition te House Bill 44, and further that no reso= lution was offered against the measure and further that no persons spoke against the measure except Senator Paulson, W. J. Burnett, O, J. Sorlis and Attorney Kaldor. ‘We further certify that a Vote was taken in favor of House Bill 44, sub- mitting to the people a new constitu- tion to be voted on this year, and that only two or three in the entire audi- ence voted against said measure; that when a League representative there- upon attempted to read a resolution cndorsing House Bill 44, the chair- man, Dr. Hagenson, declared the reso- lution out of order and refused to allow it read. ‘We further certify that at about midnight, while Attorney Kaldor was addressing the meeting, a League member arose in the audience and asked that the resolution be put, com- plaining that it was getting late and the farmers wanted to go home; that Attorney Kaldor shouted, “Well, go home then!” This is what broke up 2:9 meeting and the farmers left the fl, after midnight, “We further certify that if any reso- lution was passed at this meeting. it was passed after the farmers went home, after midnight, and on Sunday morning. : We further certify that the Grand Forks Herald’s account of the meet-. ing, claiming that 300 farmers of Traill county condemned House Bill 44 and passed resolutions to that effect, is false and untrue, and misrepresents the sentiment of the farmers of Traill county; further that the said false and untrue account of said meeting waa knowingly published as the writer ang author of said article in the Grand Forks Herald, Mr. Davies, was present at the meeting, Therefore, we, the undersigned, do hereby denounce and condemn the said Grand F_ork. Herald and its editor, Mr. Davies; we further announce and declare that the said Grand Forka Herald does not represent the sentie ment of the farmers of Traill county, and that it is not a truthful publica- tion, and it is our belief that it is not published for the best interests of the state but for the benefit of big intera ests outside the state which it appar« ently represents. We ask and request that this state< ment be published by the Fargo Forum, Fargo Courier-News and the Nonparti« san Leader of Fargo, to right an in« Justice that has been done the Farme ers of Traill county, by the said Grand Forks Herald which hags a general cire culation throughout the state, (Signed) ANDREW SWENSON, " L. D. BEST, INVALD PETERSON, DAN ENGEL, HENRY MEYER, T. F. QUINBY, SAM B. P. NELSON, WM. MEYER, W. J. HENNING, M. H, JOHNSON, S. H. SMITH, HARRY. Mc, CHASE, HENRY MERGENTHATL, ‘WM, ZIMMERMAN, WILLIAM SPIERING, CHAS, MAJOR, 0. 0. ENGEBRETSON, B C. KA T. A. MATHER, C. J. BERDAHILL