OCR Interpretation


Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, February 20, 1914, Image 5

Image and text provided by Washington State Library; Olympia, WA

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn88085488/1914-02-20/ed-1/seq-5/

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FARM CREDIT BILL
A bill providing for a natural sys
tem of farm land banks has been
introduced in congress.
This measure is tentatively the
administration bill for the establish
ment of a national rural credit sys
tem !t represents the results of the
labors of a United States commission
appointed by President Wilson last
April to investigate the rural credit
system in European countries and
report thereon.
The bill In the form Introduced
has not the unqualified indorsement
0 the house banking and currency
committee. It represents in the
main the views of the committee and
go far as the measure's general prin
ciples are concerned It has the ap
proval of President Wilson.
President Wilson has been positive
upon one point.in regard to a rural
credit system for the United States.
He is opposed to any scheme by
which the United States government
would become directly the creditor
of the farmer. This view is in en
tire accord with the views of the
majority members of the house com
mittee on banking and currency.
The bill, as introduced, provides
for the creation, operation and
supervision of a national farm loan
bank system through which the
farm land banks to be established
under the terms of the act, or to be
created through the federation of
existing state farm mortgage con
cerns and farmers' banks, shall be
come the new rural credit system of
the United States.
The bill provides for the organiza
tion under national charter of
national farm land banks by 10 or
more persons. All laws relating to
these banks are to be executed by the
commissioner of farm land banks,
who shall head a special bureau in
the treasury department.
The commissioner Is to be appoint
ed by the president with the advice
and consent of the senate, at a sal
ary of $6000 a year. There Is to be
a deputy commissioner, with a sal
ary of $3500.
Two Kinds of Bunks
The bill provides for the establish
ment of two kinds of farm land
Banks—co-operative and profit-mak
ing. If organized on the co-oper
ative plan it is provided that no
stockholder shall own more than 10
per cent of the share capital. The
dividends are limited to the pre
vailing interest rates of the commun
ity, any excess earnings to be dis
tributed among patrons of the bank
in proportion to the amount of busi
ness done with the bank.
Shares of stock in the co-operative
banks are to have a par value of $25
each., A minimum capitalization of
each bank is fixed at $10,000.
If the bank is not organized on
the co-operative plan a 0-year
charter is provided. The bank is to
have power to make contracts, to sue
and be sued, and to be under the
control of a board of directors hav
ing not fewer than five nor more
than nine members.
The specific powers given to land
banks are to accept and pay Inter
est on deposits not exceeding 50 per
cent of the paid up capital and sur
plus; to receive deposits of postal
savings funds; to make loans for not
more than 35 years maturity 'on
farm lands anywhere within the
state in which the bank operates,
provided that the farm loan shall not
exceed 50 per cent of the value or
improved farm lands or 40 per cent
of unimproved lands.
Every loan must be reduced by an
nual or semiannual payments on
the principal if the loan is made for
more that five years. The bank la
empowered to issue, sell and trade
In its own collateral trust bonds se
cured by first mortgages or first
deeds of trust. The interest on loans
may not exceed interest on bonds
by more than one per cent. As rap-
Idly as amortization payments are
made bonds are to be called in and
Paid or purchased in the open mar
ket and retired.
Bonds may not be issued by the
banks against mortgages running
1088 than five years. The capital
stock surplus and deposits may be
used temporarily for the purchase
of mortgages or bonds.
The banks are permitted to do a
general banking business, including
the purchase and sale of gold bul-
Hon, the collection of notes, draft 3
and bills of exchange, the discount
of commercial and other short time
Paper.
Co-operative banks may carry on
for their stockholders all business
now permitted to national banks,
under rules and regulations pre
scribed by the commissioner.
No bank may issue bonds to ex
ed 15 times the amount of its
capital and surplus. The amortiza
tion payments must be sufficient to
ray interest charges, the administra
tion charges of the bank and to re
tire the entire obligation at its ma
turity.
No national farm land bank may
'end money on faith or credit or on
the assignment of Its own bank stock
° the stock of any other farm land
°ank. it may lend one Individual a
sum not exceeding 20 per cent of its
capital and surplus.
Profit Making Banks |
The shares of stock in the profit
making banks shall have _ par value
of $100, each stockholder being en
titled to one vote for each of his
shares. Double liability is made
mandatory with the provision that
stockholders may assume a largei
liability by a two-thirds vote. This
permission is intended to permit co
operative banks to improve their
credit by assuming, it: necessary, the
unlimited liability of German land
banks.
National land bank bonds are
made available as security for postal
savings funds, as legal Investments
for time deposits of national banks,
and as security for loans made by
national banks to national farm
land banks. National banks may so
lend money to the extent of 25 per
Cent of their capital and surplus or
one-third of their time deposits.
The value of farm lands on which
loans are to be made is to be deter
mined by an appraisement commit
tee composed of three members of
the board of directors and appointed
by that board.
National farm land banks are re
quired to maintain a reserve of five
per cent of time deposits and two
per cent on checking deposits. This
reserve may be held in cash or in
balances with other banks.
The banks are not permitted to
operate branches, but are allowed to
maintain loan agencies throughout
the state in which they operate. They
may maintain sales agents for the
sale of their bonds within the state
or outside it. This provision is ex
pected to permit the establishment
of many agencies in New York City.
SOME FACTS ABOUT THE
PULLMAN SAVINGS AND LOAN
ASSOCIATION
Who Its For
To provide a systematic and abso
lutely safe plan for the investment of
savings, and to aid its members to
acquire homes of their own is the
object of the Pullman Savings and
Loan Association. The Association
is in every sense a Home institution.
It is for the Practical Man, who
realizing the uncertainties of busi
ness and of health, and of the folly of
spending all his money as fast as he
gets it, provides for an emergency.
It is for the Prudent Woman, who
out of her earnings or allowance, de
sires to put away a little money,
monthly, where it will be securely
and profitably invested, and give her
the least trouble and where she can
get it when needed.
It is for the Young Man possessing
the manhood and determination to
save something every month from
his earnings as a reserve fund, to
draw on when sick or out of a posi
tion, for providing a home or for a
start in business.
It is for Boys and Girls, to help
them to be economical and industri
ous and to encourage them to ac
quire the habit of saving, provide a
fund to educate them and to make
them independent.
It is for Societies, Fraternal and
Other Organizations wishing to in
vest their income for the p-rpose of
creating a reserve fund, or for build
ing.
It is for all Peeking a Home or
who want to improve their property,
or pay off a mortgage or to provide
a fund for any other worthy purpose.
Call on or Write
M. K. SNYDER
Pullman, Washington
THINK OF IT
Thirty Thousand Persons Publicly
Recommend Our Remedy—Some
Are Pullman People
Over one hundred thousand have
recommended Doan's Kidney Pills,
For backache, kidney, urniary ills,
Thirty thousand signed testimon
ials
Are appearing now in public print.
Some of them are Pullman people.
Some are published in Pullman.
No other remedy shows such
proof.
Follow this Pullman man's ex
ample.
C. S. Stone, carpenter, 1701 A St.,
Pullman, Wash., says: "My kidney
trouble came from straining my back
at my work. A year ago last winter
I had much trouble from my kidneys
being weak. The dull pain that set
tled in them tortured me. I was
told to use Doan's Kidney Pills and
when I did, I found they were just
what I needed to help me. They
took hold of the trouble at once,
clearing up the kidney secretions
that had been unnatural and soon
having me free from pain."
For sale by all dealers. Price 50
cents. Fj.ter-Milburn Co., Buffalo,
New York, sole agents for the United
States.
Remember the name—Doan's—
and take no other.
If for any reason anything you
get from our Grocery Department
should be wrong—and It will happen
sometimes—we will gladly give you
your money back. That's fair, is it
not?. Phone 39.
feb2o C. R. SANDERS CO.
——^——iaaaaaaaaaaa—aMa^auM
PKO_]___lO_i_U_ CARDS
DR. D. R. CAMPBELL
Physician and Burgeon
Office in first National Bank bldg.
Office phone 32
Resilience phone •
Dr. L. G. KJMZEY
Successor to Dr. Ed Maguire
Office at White's Drug Store
Residence 1200 Maiden Lane
Residence Phone: City 56 V; Farm
ers 36 R.
Office Phones: 126 both phones.
DR. E. T. PATH
Physician and Surgeon
Office; Odd Fellows Building
Residence: 801 Colorado St.
Farmers Phones: Office, Blue 2;
residence, Red 36.
Bell Phones: Office, 100 R; resi
dence, 100 Y.
Pullman Washington
DR. M. J. BEISTEL
(Successor to Dr. Else)
Physician and Surgeon
Office: First National Bank Bldg.
Both Phones
Eyes examined; glasses properly
fitted,
Pullman Washing' in
DR. O. H. RUSSELL
Office in White Brick
Opposite Postoffice
M. 8. JAMAR
Attorney at Law
Office in Flatiron Building
D. C. DOW
Attorney at Law
Room 14, First National Bank Bldg.
F. E. SANGER
Attorney at Law
Room 11, First National Bank Bldg.
H. J. WELTY
Lawyer
Office Post Office Building
Colfax, Wash.
DR. A. E. SHAW
Dentist
Office: First National Bank Build
ing, Pullman.
Hours: 8 t« 12 a. m., 1 to I, p. m.
DR. A. A. ROUNDS
Dentist
Office in First Nat'l Bank Bldg.
Phone 63
■ ,' T. ALLISON BALL
_v_£Jß_y; Eye Specialist
w&J^GPJ&y Office First National
xs>^_^>< Bank Building
Res. Phone 138 J
.^gJPggte W> H' STRAUB
fl X^lfc Optical Specialist
'"^U?*-* > Strictly Correct
'-. x^,? *^ 5" Glasses Guaranteed
ill Main Street, Pullman, Wash.
Phones: Farmers 1031.
Bell 284.
SPECIAL SALE of potted plants
suitable for window decoration.
Geraniums, fuchias, chrysanthe
mums, foliage plants and other sur
plus greenhouse material. State
Colloge Greenhouses. Phone 229 Y.
Pullman Transfer
& Storage Co.
J. P. Duthie, Manager
Dealers ln
Brick. Lime, Cement and Bond.
We make a specialty of moving
household goods and pianos.
Call on us and give us a trial.
Office, 807 Grand st.
The
Pullman Hospital
Pullman, Wash.
1506 Star Route St. Phone 69
WHITE LEGHORNS
For Sale—Half a dozen single
comb white Leghorn cockerels from
choice prize winning stock. Two of
them have been scored over 91 in
a show. All of them first class
utility birds. A bargain at J2.50
each. Address Box 127, Pullman,
Wash.
V STRONG INDORSEMENT
W. 11. Holmes of the Decorah, la .
Journal,' says, "I have been a suf
ferer from Piles and Memmorhoids
for years. I got ro relief until my
druggist recommended Meritol Pile
Remedy. Before I had taken half
the package the distress was gone
find I have had no trouble since. I
would not take a thousand dollars
and be back in my former condi
tion," H. S. Groat, exclusive
agency.
LOST -Monday. February 16, In
the business section of Pullman, a
lady's gold watch and guard pin,
both engraved with the initials O. G.
Suitable reward will be paid for re
turn of same to 1311 State street, on
.Military hill. feb2o
Exceptional value, IXSteel Clad
Dairy Pails, 85c; 2X Steel Clad
Dairy Pails, 50c. At the Variety-
Store. feb2o
A heavy cold in the lungs that
was expected to cure Itself has been
the starting point in many cases of
disease that ended fatally. The sen-
Bible course Is to take frequent doses
et BALLARD'S HOREHOUND
SYRUP. It checks the progress of
the disorder and assists nature to
restore normal conditions. Price
25c, 50c, and $1.00 per bottle. Sold
by Watt's Pharmacy. feb
FARMERS: If you are going to
make a farm loan, it might pay you
to write to Tho Anderson Mortgage
& Investment Company, Hutton
Building, Spokane, Wash., for their
best terms and rates. Jn23fbl3
FOR SALE
Golden Oak Bedroom Set
Good as Now— Bargain
Phone 110 L
POST-INTELLIGENCER
BARGAIN DAY OFFERS
Close February 28th
Bargain ; Bargain
Regular Day Regular Day
OFFER No, 1. Prion Price | offer NO. 20, Price Price
Poat-Intelllgencor, Dally and Sunday.! 6.0) £4.. ' P"«t- intelligencer, Dally and Sunday .$ tt.nJ ,
Post-IntMligencer, Dally Only 4.00 53.60 Sunset 2.T.0 | rf n »-
Post-Intelllgencer, Sunday 0n1y..... 1.60 $2.00 American (or Woman . Home Compn) 1.30 V \h A**
OFFER NO. -i Total Regular Price $10.00 )
Poet-Intelligencer, Dally and Sunday.! 6.0)~j „ I
Pearson'. Magazine 1.60 ICC IA OKKKR SO. 311
raflD.lU Post-Intelligencer, Dally and Sunday.! «0} ,
Total Regular Price !7.6«J Review of Reviews 3.00 | f n <-»A
- , ■ Metropolitan (or Delineator) 1.60 > \n [\J
OFFER wo. 8l _ . , —■ rr "
Post-Intelligencer, DaUy and Sunday.! 6.0J "I Total Regular Price HO.uOJ :
Pictorial Review 1.00 I CC OCI" — ' '
f JJ.-.0 OFFER Ml. 2_i
Total Regular Price.. !7.00J 1 Pout- Intel] it, Dally and Sunday.! B.OJ
. , . ! Youth's Companion 1.00 | ff-i A A
OFFER HO, * Everybody's 150f^l.UU
Poet-Intelligencer, Dally and Sunday.! 6.00"| _ . „ , L,"' ."777
American Magaaine ... .." 1.60 I . CC 0A Total Regular Price !»-60 I
Total Regular Price $7.60J *••"V OFFER NO, 33i .^__^
. Poet-Intelllguncer, Dally and Sunday.! *Q)\
OFFER NO. Bi World. Work *00 | #1 AA
Pr»t-InteUlgencer,__Uy and Sunday.! f.OJ^i American (or Woman. Home Comp'n) 1.60 i. J/.UU
Woman. Home Companion ........ „ jUo Ijr M<\ ~j £- tsO.iol
Total Regular Price >...*7.&oJ *"»^v —"" — ~L~L~Z
■ ■ — — OFFER NO. 24i . .-.,
OFFER NO. 0. Post-Intelligencer. Daily and Sunday.! 6.0J-V
Poet-Intelligence*. Dally and Sunday.! 6.0 J) Bcrlbnert ............. •''•;•••' J'?' I \7 fill
Metropolitan .... ;.Z. ..Tl.iwf CC C<\ Pearson's (or Pictorial Review) .... !.■>»>• ,)|,UV
Total Bagular Price file) *3.0U j Total Regular Price »">•*»'
OFFEB NO. Ti l OFFER NO. 2SI , ...
Po.t-IntelHgenoer.Dally and Sunday.! 6.M ) Pom lritellUrn,..r. Dally and Sunday .! J.OJ,
Delineator . ~—•• . •••M IT 50 Scientific American P«r^r.:::iKls7.7s
"•*#or ~ —•• _^ \K Ml pictorial Hevlew (or Pearson's) ... _1.60 I)/ ./ 3
Total Regular Price _. ...|T.So) *v,vv 110 60
— . _ Total Regular Price .____-—.
OFFER NO. Hi ""
Poet-Intelligencer. Daily and Sunday.! 8.0)) OKFER NO. 2«i ,
fcverybodyl" Mag_.1«\_77.777777! .. L6O C r PA P^n\Vg°em*!r.DaUy and Sunday., 6.0)
Tot,. »g___ Price «d JrJ.OU : Bverbody'. ,;,.;;;;;,:::::::::::::::: VjU $5,95
Total Begma. Price #7jw) *«»vw «ccaii'. :::::::*.:: :6orio.yi)
•^_> s—MIMe————-m*-—____—, mMHMimriWMa*me_^_a—«—■mhea«_Mi»■MmMeMMuMaaMMm—MMasMißme* * LMJtty B ...ee.eeeee.eeeee
Post-_ot^lg2_J?,._teUyandß__d_y.! «.0» 1 Total Regular Prlc *»-50J
Post-Intelllgencee, Dally and Sunday ! «0* 1 Total R «*ular Frlce ,l>- 8g _____-—
tanaet ■♦-—•*♦•' 1-60 ( frC PC OFFKR NO. 271 , .'77 7*
TVHaI Regular Price 1 „60 / \ri nil l^f^}"^;?•;^.^.f^*'.! S.oo] » ? OP
I>otal Regular Price ..^-^ !_SO *U»Wa I Poßt-IntelllK^i'-er, Dally and Sunday .! 6.0)
— OFFER NO, KH 1 j American Review! »■«» l" 9"] »^«
OfPKR no. rh | American MaKa.lne 'ln'> ,
Poet-InteUlgencer. Dully and Sunday.! «M) Pictorial Review ___..!„
Review of _uwiew. _. jloo ffr -TA Total Regular Price tll-wJ
5 Total Regular Price U...**#*) **- 'V I ~ ~
— _~..a>».</v> OFFER NO. ffli jo , .«a „
OFFER NO. U. Post-Intelligencer, Dally and Sunday.! 6.0J
Po^-lnteiligenoer. Dally and Sunday.! «.0> * ; Youth's Companion 1.50 I _7 7ft
Youth', comp«io» ..r. .^:!tK jrgo _^, e n r^ r Ma,ta ?'. n?.:::::::::::::::: gj.- V«/U
Total Regular Price _. —UM>) *J* JU TotAl .- lllar rlre 111.00.
OFFER NO, 1-a " ~~
Post-Intelligencer. Dally and ■____» I 6 o« \ OFFER NO. 2»i «_n,\
wend-. w r^.....^r.f_f.^: l US r fi « 0 j^fi^J|R^\^.?!f.? r. nd. ay., s.So j; ro 0A
Total Regular Price .— jjg D>lv Ktr'Mt. •.:::::::::::::::::::::: LB $o.ZO
OFFER NO. l»i _>aUy and Sunday.! «.<K» 1 TotMi u«*uUr pr,ce |110° ,
Poet Intelllffeueer, DaUy and Sunday.! B<W ) Totai iu*uUr Prlr-e fl ,
BCr,b°^" - MX7 00 OFFER NO! »■ " „
Total Regular Price _.__ _»__ ) ♦'•»" Pont-Intelllgencer, Dally and Sunday.! e»h
— —■"—"• •***"' Century <00 -_ ft _
OFFER NO. Mi McCall'. JO V VJ|
Ptjet InteUlgencer.DaUyandSuodar.! I.M| Today. • " *O.UU
Scientific American . i_«o / _><■» a A "77777
*"• iJK\ \7 fill Total Regular Price !11.00j
Total Regular Prloe .. ,_^ 77^7) *!.""
" !_-__ " — . ■ OKKKH NO. 811 .....
Oa~F__i NO. 18, Post Intelligencer, Dally and Sunday.! 6.00 \
o*!:. ln.fU,t *now ' Dallg and Bandar I 601 1 Woman's Home ('oinp'n (or American) 1.60 I
~ Z -^ Hs7 20 M,.".'..:::::v.::::::::: r :R $6.35
Total Regular Prtoe |¥ .o«) *'•*«« Today. • -M I *v,tfw
0»FEB NO. Mi ~~~ ~~ ~~ ~~ Total Regular Price 610.00/
Pw^^eWgencer. Emily and Sunday.! 6.0 M \ "
Harper*. Maga^oe _.... 4.00 f7 QA OFFER NO. 82. ;'- .. „
__ . „ ( \/ All Intelligencer, Dally and Sunday.! 6.0.X
Total Regular Prh».. ..^^.. .|M.OO ) *'* Uentlewoman " / fl -»A
-—— " — ——— Farm and Fireside »•( \fl #11
OFFER NO. ITi Poultry Success *°( #*»IV
Po.t-InteUljraaoer, Dally and Sunday.! «.00 i .T7^)
C^**^ : __ „, ....... 4.00 ro ca _ Total Regular Price *■"'
Total Regular Price.. ...^ iirZooi^O.DU offer no. 83•
~___S_: -7-7_ — Post-Intelligencer. Dally and Sunday.! «.OJ\
<MyKBB NO. ***« _. Woman. World «/ ft -If\
Peet-Intemg.a..,. I^llr *_d Sunday, !.0» x Farm Life ."I J4.7U
K__i. •••*- —* _. -"O/ »■ .*■. Fruit (Jrower and Farmer 1.00/ *I.iv
'"" a»aa«ana)aaa»««tMi .40 > \J\ X*\ „.. \
-_..._ . -Zll 44.03 Total Regular Price »7-*8 /
Total Regular Prtoe M !7.00 ) — — '
™ ' '11. —_______!— j■. ■ai*aMa»_M_________.^fc_________. | , OPFPH O. 841
WPFSa NO. _* po.t-Irrtdll'lge'ncer, Dally and Sunday.! I.OJ )
wTll'i*^W» eo<>s_' Dally and Buaday.! !,0»\ The Ranch »Xf f M AA
SSK-!..!^* 0011* °«»ta*^> <*' AmmricanJ 1.60 /»« 1A The Westerner ™\ SOU
D*Un<,Uw - 1J0) \K All Pacific Poultryman _™( *"•*"
f> Tot^ ttmWmm Pvloe ..««.>.^..!T00) * Total Regular Price tl.Ul m'
"™*' ■'■"'■■■■ i—i i .I, —„-,-n.i. i ■■» ■-■ ' ,- r ' "*
ALA, magaaine ettere Incl-de one yeaf. .uh.crtptlon to each maga.lne mention.d In •«*■•"•£ _*__!?%
Miuii-M. cannot be apllt. The comblnatlone are e.actly a. .tated. Where de',**s' I .n,V,ncer
_ta_f*_?___*^ to.- te all °»«»- Be sure and mention offer number. The Pojtjlt ».l»genoer
_ ._• "WMhingto^e Be.t Jtow.papor." It I. the only Seattl*. Sunday paper oarryln* A_*oclate_ rra«.
nig alulae!!. Bargain Dag prloe rune from now till February It, 1114. ' •
tfy&t&P**- -* All Lengths and Width. '
*=s*^ jg?W C. R. Sanders Co.
Frank Russel
Gloves!
Hand-sewed, with a double welt,
will not rip.
Made of the best medium weight
horsehide obtainable.
111 in iii ii 11111 11 mi ■■ i■
Finck's "Detroit Special"
Overalls
iiimmmiiiiiiiiiiimmiii
V. W. CLARKSON
"MEN'S OUTFITTER"

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