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I J' n n rv I I 1 NA VOL. I MOUNTAIN AIR, NEW MEXICO, THURSDAY, JANUARY 26,--lW7 NO. 17 MOUNTAINS STATE BANK OPENS TOR BUSINESS Charter Signed by Examinar Carter last Tuesday Morning DIRECTORS TO BE CHOSEN ON FEBRUARY 6th The loug-fooked for bank at Moun tainair 8 now a reality. After numer ous attempt to organize a financial in stitution here during years past, and an increasing demand for a bank, the Mountainair State Bank opened its doors for business on last Tuesday. Stat Bank Examiner Carter came in Tuesday morning, and after interview ing our people on the needs of such an institution and the probable support which would be given it, and an investi gation of the matters pertaining to the organization, granted the charter and gave the officers permission to "do business." That our people realize the necessity of a bank here is proven by the fact that almost three dozen farmers and businessmen subscribed stock in the institution. The impossibility on the part of the merchants to supply suf ficient change for the large sums re ceived by the farmers last fall when marketing their crops, and the necessi ty of being forced to go elsewhere to secure assistance in the way of neces sary loans, proved only too clearly that Mountainair must have a bank. The officers of the bank are: H. F. Mathews, president; Jas. H. Rhoades, vice president and J. N. Burton, cash ier. A stockholders meeting has been called for Tuesday, February 6th at which time a board of directors will be selected. In the mean time, the law provides that the officers shall act as uch board. School Notes New pupils in room 2 are, Ray, J. B. and Lela May Whiteside from House, New Mexico. Work is progressing nicely with those who are in school regularly but there are a number who are quarentined be cause of measles. Mrs. Ralph Stewart visited in Miss Hoyland and Mrs. McNeese's rooms Wednesday. Mrs. H. L. Hanlon and Mr. W. R. Orme were high school visitors Wed nesday. The school children of the various rooms are planning to assist the Ladies Aid in their program to be given Feb ruary 2d, in connection with their box supper. The high school girls will furnish music and the others, drills and folk dances. Stockholders Meeting A stockholders meeting of the Moun tainair State Bank is hereby called for Tuesday; Frbruary 6th, 1917, at 4 p. m. at the Bank building, to transact such business as may rightfully oome before them at such time. All stockholders are urged to be present. H. F. Mathews, President Mountainair State Bank. Wedding Miss Piedad Chavez, daughter of Julian Chaves and wife and Antonio Serna, son of Plaeida Serna, were in Mountainair Monday, making applica tion for marriage license. The cere mony is to be performed at Manzano next Monday by Rev. Fr. Jose Gau thier. After the ceremony a(reception will be given the young people at the bride's parents' home, after which they will leave for Belen and Los Lunas, where they will spend their honeymoon visiting relatives. WHAT THE PLAN Of AMORTIZATION IS Figures to Repay a Loan of a Thousand Dollars One of the features of the Federal Farm Loan Act which makes a strong appeal to farmers is that it compels them gradually to retire their indebted ness through a long or short period of years. This process is called amortization. Under it the interest and principal are paid off in equal annual or semiannual installments throughout the period of the loan so that at the end of the term of the mortgage the borrower is out of debt. All loans under the Farm Loan Act are made under amortization or install ment plan. Since the borrower begins paying off his debt the first year after he gets it, and because a long time loan is best suited to f arméis, borrowers under this act are permitted to execute mortgages to run from five to forty years at their option. Permission is given to pay all of the loan or any part of it on any interest paying date after the mortgage has run five years. Borrowers are not permit ted to pay off within the first five years, because the money which they have borrowed has been procured by the bank through the sale of it3 bonds, and bonds cannot be sold for a shorter period than five years. To give the prospective borrower an exact idea of the size of annual pay ments required to wipe out a mortgage in a given period, tables have been pre pared. The following table shows the amount of the annual payment required to extinguish in the period indicated a $1000 loan bearing interest at 5, 5J and 6 per cent. Term (years) Rate of Interest. 5 percent.5J percent. 6percent. 10 $129.50 $132.67 $135.87 15 96.34 ' 99.63 102.96 20 80.24 83.63 87.18 25 70.95 74.55 78.23 30 65.65 68.81 72.65 35 61.07 64.97 68.97 40 53.23 62.32 66.46 The use of the borrowed money is limited to the following purposes to purchase land or additional land, to pay off existing indebtedness; to purchase live stock or to make any productive improvements such as clearing, fences, drainage, buildings and machinery. The object of amortization is to en able a farmer to turn a mortgage into an investment. When he can borrow at a less rate than it. yields him he is able to pay off his indebtedness out of the profits of his investment. A long time loan enables him to use his money judiciously so that it will centribute to increased value of his land and its in creased producing power. Heretofore formers have not been able to borrow for long periods. This discouraged investment in live stock and for many other purposes because the returns are slow. Short term loans made a speculator out of a farmer. So the farm Loan Act in addition to providing a way for the farmer to bor row to the limit of safety, induces him to put his borrowed money to produc tive uses and provides a way for him to get out of debt from the profits of the investment. Thus the Farm Loan Act places with in reach of the farmer the means to help himself and stimulates his busi ness initiative. The long time loan with its small annual payments puts a quietus on the terror of mortgage fore closure. -7 Frank R. Wilson, of the Fed eral Farm Loan Bereau. Word from John W. Corbett is to the effect that the Corbett's have taken the Wilbur Dunlavy residence at 1124 W. 5 1 at Place, Los Angeles, while the Dun lavy's are making an extended visit in Trinidad, Colorado and New Mexico. Mr. Corbett says he is feeling some better but cannot get warm. He asks us to have Juan Trujillo bring him a load of piñón wood, so that he can fire up. COMERCIAL CLUB STARTS WORK Of Petition to bs Presented to County Board at April Meeting The Commercial Club of Mountain air met last night, there being almost double the number in attendance as at the previous meeting. Reports on the water question held the attention of the body, the question being thoroughly discussed. A proposition made by J. H. Latham, who recently purchased the well and mill from Mr. Sellers, to fur nish water to those desiring to haul water at seven cents a barrel at the well, and to deliver water to customers in town at fifteen cents a barrel, was accepted by the Club. Mr. Latham agrees to have a plentiful supply of water in the tanks so there will be no waiting on the part of those desiring water. In return he asks that there be no free water at the windmill. This is only a reasonable request, inasmuch as he must have a man on duty to as sure a supply of water at all times, he could not afford to pump the water at these prices unless he supplies all that is being used. As to a permanent or future supply of water the matter of bringing water from the springs at Ciénega (now owned by the townsite company), was discussed. A committee was named to look more thoroughly into the feasibili ty of this proposition, and report as soon as possible as to probable neces sary work and cost, including the lay ing of mains and pipes to convey water to all parts of the townsite. Just how this matter will be handled will be 1150 FILINGS UNDER NEW ACT Since January 2, when the 640-acre law took effect there have been 1150 filings at the local land office, taking up 550,000 acres of land and bringing in the sum of $27,000. This was the information given out today following the sending of a tele gram containing this information to the commissioner of the general land office who inquired about the results of the new law in this district. He also asked that weekly messages be sent telling of the number of new fillings, the amount of land taken and the amount of money received. It is not believed that the telegram from the U. S. commissioner is an in dication that Washington fears all of the available land will be taken up. There is still so much room for home steaders in this country that it is be lieved it will be a long time before there is a land famine. Santa Fe New Mex ican. Word from Mrs. C. L. Burt, who un derwent an operation at St. Joseph's Hospital in Albuquerque recently, is to the effect that she is recovering nicely. She was able to sit up long enough to write a short letter to Mr. Burt last Friday. Warning Boys are warned not to meddle with the thermometers and rain guage on the commons near the depot, as these are Government Property. This week boys were seen opening the shelter and investigating the themometers. One of the supports was found broken, which these lads will have to make good. Should the meddling be contin ued, it will be necessary to turn the boys over to the courts to say what shall be done with them. INCORPORATION threshed out after available data as to expense is at hand. The probability is ..i.ut a stock company will be organized to handle the matter. The matter of incorporation of Moun tainair as a village was discussed and the opinion of those present appeared to be practically unanimous in favor of incorporation. It was agreed that the solving of the water question would not be satisfactory until the town is incor porated and authority vested in some body to grant a water franchise. A committee was named to prepare a pe tition and secure the signatures neces sary for the presentation of the mat ter to the county commissioners at their April meeting. The secretary reported having re ceived a communication from an attor ney desiring a location. The Club was of the opinion that a live attorney of the right sort would find here a good opening. It was decided to hold the next meet ing of the Club on Saturday night, Feb ruary 3d, and try to secure the atten dance of all the business men and pro perty owners of Mountainair, as well as as many farmers as possible. The matters the Club is now working on are of importance to every property owner in town, and every one should show his interest in attending the meetings and helping to solve these problems to the greatest benefit of all concerned. 86 CARS OF BEANS SHIPPED OUT Another car of beans was loaded this week, making eighty-five cars shipped out this season from Mountainair. This is a total shipment of 3,400,000 pounds shipped from here, with a value to the farmers of about $225,000. Just as we had the above figures in type concerning the bean shipments, we learn that another car of beans is being loaded, making the total eighty six cars. The Independent's estimate of one hundred cars shipped from Moun tainair during this season will yet be come a reality. Two cars of cord wood are loading for shipment to Belen. Mr. Culberson brought in an immi grant car from Artesia. He brought several fine horses and a number of good grade milk cows. Among the cars unloaded here during the week were; a car of flour and bran for the Mountainair Lumber Company; a car of hay for Mountainair Produce Company; a car of shingles and finish ing lumber for the C. E. Goodner Lum ber Comprny. J. A. Cooper, who left here for a visit in the for eastern states, writes from Springfield, Missouri, that he found about a foot of snow practically all the way through New Mexico and Kansas. He has been talking with farmers on the trains and is more con vinced than ever that the Mountainair country will pay better returns in farming than any other section, when the price of land is considered. A schoolboy was asked to explain the formation of dew. His answer was: "The earth revolves on its axis every twenty-four hours, and in cor sequence of the tremendous pace at which it travels it perspires freely." REPORT OF LOCAL WEATHER OBSERVER Daily Maximum and Minimum Temperature of Week We have beon requested to publish data regarding the weather, as reported by the Ioeal observer 'of the U. S. Weather Bureau. In the future we will give the Maximum and Minimum temperature each day, for the week preceding, and such data regarding the precipitation as is at hand. Following is the report for the week ending yesterday: Jan. Max. Min. Range Character of day Partly tloudy Clear On the night of the 21st one ar.d a half inches of snow was recorded, the precipitation being .13 of an inch. Homestead Filings The following persons have made filings before U. S. Commissioner Han on since our last report: Leon J. Pohl, el nwi sec 84; swi nei, nwl sec 33; swi swi sec 28, 2, 5. Gustav A. Pohl, wj el, sei sel, e wj, wj swj, swj nwi, sec 29, 2, 5. Joseph A. Hamlett, sec 17, 1, 9. John A. Valentine, sec 3, 1, 8. Vernon T. Furman, e 1 sec 25, 8, 7. si, sec 9, 2, 7. Earnest Wood, wj sec 30, si sec 19, 2, 6. Granville Powers n 1 sec 19; si sec 18, 2, 5. William Osborn, nl soc 18; wj sec 7, 2, 5. Frank W. Hill, wj see 6. 2,' 6. ErneBt F. Gooch, sei sec 11; swi sec 12, 1, 8. Burl L. Brown, sel sec 25, 2, 7; swi, sec 30, 2, 8. Herman E. Harris, si si, si sec 30; ni nl sec 31, 3, 5. Juan Aragón, si sec SO, 3, 6. William J. Wyatt, see 31, 1, 9. Joseph J. White, nei nei sec 5; nwi nwi, ei nwi, nei swi, nwi sel nd wl nei sec i, 2, 6. Julian Chavez y Chavez, swi nei and nwi si see 9; ! nwi and swi sc 10, 2, 6. Manuel Brown, el nei, nei "ei sec 4; nwi sec 8, 2, ó. Eduardo Chavez y Torres, sai swi, si sei sec 3; nei nwi, el sec 10, 2, 6. Ysidro Sanchez, si swi sec 35, 3, 6. Samuel G. Harrell, el sec 31, 2, 9. Eugene Mills, w sec 28, 2, 9. Byron R. Voss. nl sec 1, 2, 5; nwl nei sec 10, 3, 6. Luciano Ballajos, nl nl and sel nei sec 10, 4, 6. Robert Fain, nl sec 10, 3, 8. Richard A Bruce, si nwi, nl swi, el sec 17; si nei, nl sel sec 18, 2, 7. Robert E. Hale, sec 19, 2, 9. Valentine S. Anglin, sec 31, 2, 5. Marion F. Hallman, wl sec 20, 2, 9. Encarnación Garcia, sel, sel nwi, el swi, swi swi- sec 32, 4, 9. Walter F. Ridgeway, si swi, nei swi, sei nwi sec 45, 3, 7. Free Program for Box Supper February 2, 1917 Piano 'Solo, Lois Hollon. Recitation, Veda Cooper. Cowboy Drill, Mrs. McNeese's Room. Piano Solo, Rebecca Bryan. Recitation, Francis Clark. Folk Dance, Alice Hoyland's Room. Reading, Hazel Doyle. Piano Duett, Miss Corbett and Miss Hoyland. Reading, Bernie Orme. Vocal Solo, Mrs. MeNeese. Julian Chavez, whose farm is north west of Mountainair, had about fifty five acres in beans the past season and threshed 58,000 pounds, an average of over a thousand pounds ger acre. 18 46 23 23 19 43 20 23 20 44 22 22 21 36 10 26 22 87 26 11 23 32 10 22 24 34 11 23 COMMITTEE OF -APPRAISERS CHOSEN V BY FARMERS By-Laws Committee Named to frame Regulations for Association OFFICERS CHOSEN FOR COMING YEAR The board of directors of The Bean Growers National Farm Loan Associa tion met last Saturday afternoon at 2 p. m. in the room in the rear of the Barber Shop for the .purpose of com pleting the organization of the associa tion and transacting such other busi ness as should come before the meet ing. Charles A. Noble was unanimously elected chairman and Edgar Ingraham vice president for the year James A. Perkins was chosen secretary for the meeting. J. N. Burton was elected secretary-treasurer for the year. Messrs. W. F. Martin, II. Holland and R. Sellers were elected to serve as appraising committee for the associa tion. It was decided that the territory in which we should do business shall in clude all of Torrance courity and that headquarters should be at Mountain air. A committee , consisting of Messrs. Noble, Ingraham and J. A. Perkins was selected to draft by-laws by which the association shall be governed. The appraising committee will pro ceed at once to the appraisement of the lands of the applicants for loans, so that we ought to be ready to send our applications within a week to the Land Bank at Wichita, Kansas, for consid eration. New applicants are coming all the time. We now have thirty applicants and a total of $33,100 of loans applied for. All who are expecting to join, or are thinking of doing so, are requested to do so at once, so that we can make as good a showing of interest in favor of the Federal Land Bank system as possible, in the initial application. Charles A. Noble Chairman. James A. Perkins, Temp. Secretary. En Lazos de Flores El Lunes 29 de Enero, en la parro quia de Manzano serán unidos en. lazos de flores por el sacramento del matri monio, la hermosa y virtuosa señorita Piedad Chavez, hija de Don Julian Chavez y su esposa, Doña Isaac Torres de Chavez, con el joven Antonio Serna, hijo de Don Placida Serna y su finada eBposa Doña Josefa Sisneros de Serna. Después de la ceremonia se tendrá una recepción en la residencia de los primeros, al poniente de Mountainair, y en el tren de la tarde partirán los recien casados a un viaje de boda para Belén y Los Lunas. Ofrecemos a Iob futuros y familias muy sinceras con gratulaciones. Box Supper The Ladies' Aid have arranged to give a Box Supper at the School Audi torium on the night of February 2d. A literary and musical program will be rendered after which the boxes will be disposed of. A good time is assured and all are invited to come. The ladies are requested to bring lunch boxes. Thursday Afternoon Club The Thursday Afternoon Club met with Mrs. W. R. Orme January 25 with eight members present. Music by Miss Orme was followed by current events. Mrs. Hanlon read a paper on our Foreign Possessions, A business ses sion elsed the meeting. Delicious re freshments were served.