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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Encampment Record
Location
Encampment, Wyoming, United States of America
Date
Aug 17, 1916
Page
2
A concise outline of the Federal Farm Loan Act highlighting the act’s salient features as presented by H. M. Hanson, treasurer of the Farm Mortgage Bankers' Association of America. The summary outlines lending structure, eligibility, and regulatory framework within the agricultural credit system.
A summary of the Federal Farm Loan Act as enacted in 1916 describes a land bank system for the continental United States, forming twelve districts. The act creates a treasury supervised framework with a Farm Loan Board, specifies salaries, appointed officers, and duties. It outlines powers to charter banks, set interest rates, approve bond issues, regulate appraisals, and supervise banks and associations. It also requires state law reviews to ensure mortgage protection and authorizes treasury deposits up to 6 million dollars for federal land banks.
An outline of Federal Farm Loan Banks including structure, officers, stock, and ownership. Details cover district branches, capital, dividends, and the roles of government and borrowers. Powers include mortgage handling, bond issuance, asset management, and agent operations with tax exemptions and reserve requirements.
National Farm Loan Associations govern loans of up to 10000 with 50 percent land value and 20 percent permanent improvements limits. They may form with five directors and a three member loan committee, issue certificates, and handle deposits convertible to farm loan bonds. Restrictions include 6 percent loan interest, 8 percent on default, and 90 day remedy for defaults.
Sections outline government actions on farm loan bonds including buy and sell authority and related provisions. The act specifies that no commission or charge not authorized shall be demanded or received, detailing limits on fees.
A private corporation may be formed under Section 11f-A of the act by ten or more organizers. The provision outlines eligibility and incorporation steps for establishing a land bank organization under the statute.
The text outlines governance and financial rules for joint stock land banks including minimum board size, operational scope within states, semiannual examinations, capital and loan limits, stock ownership restrictions, bond issuance, interest caps, commissions, and taxation. It covers powers to lend on farm mortgages, issue farm loan bonds, and Bank duties as public depositories with limits on deposits and investments. It also references federal oversight, reserve rules, amortization, and roles of the Farm Loan Board and Federal Reserve Banks. Names of sections Sec. 10, 14, 16, 17, 18, 20, 22, 23, 26, 27, 28 are cited with various conditions.
A 250 pound sturgeon, one of the river’s largest, was netted and roped by George Saxton and Anthony Shores while they fished for shad in the Delaware near Bristol, Pa. The lively catch fought hard before landing, and the fish yielded rich yellow meat sold at 45 cents a pound while the caviar-friendly sterpe sold at one pound.
Metal market prices from Western Mining and Oil News list New York lead at $6.00 per unit, bar silver at 66 cents, spelter in Denver at $8.6714, copper casting at $24.8714, and Boulder Cole Tungsten concentrates priced $20 to $25 per 60 percent unit. Crude ores show 60 percent $15 to $22.50, 25 percent $9.40 to $12, and 10 percent $8.80 to $10 per unit.
The Jerome Verde shaft expands to three compartments and a new shaft is planned at Baker ville by Calumet and Arizona. Jerome shaft deepens beyond 300 feet with a yellow sulphide stringer found. Pearce Commonwealth mine yields 9,000 to 10,000 tons monthly. Copperosity near Casa Grande ships ore 12 to 18.70 percent copper. Shat tuck-Arizona copper nets $689,615.94 last quarter with 12 percent dividends totaling $437,500. New Cornelia camp at Ajo added to major camps. about 1,000 men at work in the district.
The Allgrove mill at Cardinal adopts an oil flotation process while the Emma mine in Ice Lake basin nears heavy producer status. Manganese finds at Iron Mask mine Leadville compound with Yankee hill Gambetta property. Crevette & Co. at Silver Plume ship forty tons of ore netting 210 dollars a ton from Seven Thirty mine. Iowa Tiger mill near Silverton to boost flotation by sixty percent. Strong mine Battle Mountain near Vic tor continues sinking. Boodle mine Nevadaville completes ore shipment. L. D. Miller ships mill run silver ore from Westcliffe district to Pueblo. Stratton's Cripple Creek properties logs ore shipments by lessees. East Tennessee works gain attention in Leadville district. Colorado and Wyoming produced 4 454 000 barrels of petroleum in 1915 valued at 2 400 000 dollars, up from 1914.
Parsons Mining begins work on hills and additional buildings in Parsons Lincoln county while timber arrives for aerial tram terminals from Pacific mine to Socorro Milling Co plant. Empire Zinc plans claims work in Kingston district with engineers on site. A. T. McGee Company undertakes 60000 acre Animas valley land option to prospect for oil. Mogollon Mines changes freight delivery with a Glenwood transfer station twelve miles from Mogollon for fuel and supplies.
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