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Newspaper
Algona Courier
Location
Algona, Iowa, United States of America
Date
Aug 10, 1916
Page
6
A 1916 synopsis outlines a federal land bank system in the continental U.S. divided into twelve districts. It details board structure led by the treasury secretary, roles for farm loan commissioners and appointees, loan terms, collateral, taxation, agent rules, and the use of farm loan bonds. It specifies limits, interest, amortization, and supervisory provisions for federal and joint stock land banks and associations.
Section 4 outlines one per land bank district with branches and a full officer slate. Section 5 sets a $750,000 capital, stock at $5, and US participation rules. dividends shared by US government and borrowers. gradual retirement of original stock. minimum 5 percent in US bonds. additional powers to buy mortgages, issue bonds, and receive payments. Sec. 18 covers property, deposits, borrowing, and bond activities. Sec. 13 references land appraisals for bond purposes.
Farmers seeking loans totaling twenty thousand dollars or more may organize a National Farm Loan Association. The affairs are run by five directors including president and vice president, a three member loan committee, and a secretary treasurer paid a fixed salary by the Farm Loan Board. Capital stock details follow in the document.
The text outlines Joint Stock Land Bank obligations under Section 16 A, including formation by ten or more persons, a five member board, operation within the state of principal office, semiannual examinations by the federal land bank examiner, a $250000 minimum capital, double liability of shares, and government ownership restrictions. It describes lending rights on farm mortgages, ability to issue farm loan bonds up to 15 times capital and surplus, and conditions for starting business before all capital is paid.
A dealer in wearing apparel installed two full length mirrors one concave and one convex to help customers of different builds. Stout shoppers viewing themselves in the concave mirror see a slimmer figure while thin customers are shown a fuller silhouette in the convex mirror.
In Columbus Omer Scudder a real estate and Insurance agent told fellow Bassett building occupants he was hungry They scraped together 60 cents for ice cream and planned to split a half gallon Scudder finished the half gallon and asked for more as the others watched in disbelief The men returned to work in embarrassment.
Three genuine philosophers ride a motor car for twenty miles before it breaks down. The first philosopher aims to study nature, the second notes a farmhouse with food likely available, and the third expresses a desire to be in a certain situation.
Mrs. Livingstone Wilson, Dr David Livingstone’s surviving child, traveled to Old Chitambo in northeast Rhodesia to visit where her father’s heart is said to be buried. She saw Victoria Falls, journeyed with 60 carriers, and noted local chiefs and beliefs as detectives and interpreters described biographers’ accounts. A brick memorial with a cross was erected in the bush, with an avenue and a book for visitors to record names of travelers and explorers.
Costa Rica leads the Western Hemisphere in Musa Saplentium bananas exporting 10 to 12 million bunches annually. The banana zone covers about 890 square miles with some under cultivation. Yields have fallen due to an unresolved disease while new plantations rise and abandoned lands shift to thriving cacao cultivation.
Wealthy New York heirs win court ruling against two will executors who sought a 400000 commission for distributing the estate. The court held a man cannot be paid for handing over what he already possesses, affirming that self-payment is unjust. Heirs protested the impropriety of the claim.
A sermon by Hen. John Fox of the New York presbytery denounces “The U boats of unbelief” and launches a pointed attack on View Hite amid a charged religious discourse. The brief remarks liken opposition to wartime torpedoes and imply ongoing theological conflict within the church.
Saskatchewan dairies show butter production up 1.5 million pounds and strong markets abroad. Manitoba reports 1915 gains with butter and cheese output rising, total product value over 2.76 million dollars, milk and cream valued separately. Northern Alberta notes 2.53 million pounds butter produced, with export prospects improving. Rural life highlights include fodder crops, cattle totals, and a note on advancing dairy factories. Death rate per generation halves from 31 to 14 per thousand.
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