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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 4, 1916, Lethbridge, Alberta PAGE FOUR 5l) letbbribje XctbbriBge, HIDcrta DAILY AND WEEKLY THE LETHBRnxiE DAILY HERALD MONDAY. DECEMBER 4, Subscription Rates: Dally, delivered, per WOOK Daily, delivered, per yc'ar Daily, by mail, por year lOo ...56.00 ..HOG ir .....-.51.50 Weakly, oy mail, per yen: Weekly, by mail, per year to U.S..5.2-W 1253 1224 TELEPHONES Business Office.......... Editorial Office W. A. Buchanan John Torrancc Managing Director Business Manager Entes or expiry ot subscriptions ap- pear d. My on address label. Accept- cnce of papers after expiration date is our authority to continue tho subscrip- tion. Vour King and Country need you right now' THE PROGRESS OK THE WAR A crisis in Greece has cnce more teen averted by the intervention of neutrals and the capitulation again of lonns the province King Constantine .to-the allies. He borrow for less than 5 per cent. sui'reiidored to tho board al n valua- tion, at tho expiry of tho mortgaso terra. Should losses inlso in any municipality, the ofllco of tho munici- pal commissioner might make n levy against the municipality to recover such loss; out-the'total'levy against municipality would not exceed more than 5 per cent, of the total amount loaned In tho municipality. As loililB would bo made on tho basis of only BO. perVcont. of the value of the land, .and :tho loss would only bii a percentage'on this, the liability on the municipality would bo very remote. In return tho bill gives the municipality great powers of control. No loans would he made lu a municipality until the ratepavers had passed a money bylaw. All loans rtasi approved by the committee appointed by the municipality, and would originate in the offlco of secretary-treasurer. The association would bo authorized to issue bonds guaranteed by the pro- vince, with the mortpases as collat- eral. ui> to nine times tho amount of its paid-un capital. This was the first time In the history of the province that it was proposed to lend the credit of the province directly for tho bene- fit of the farmers. Mr. Brown explained that the rate for mortgages would be the actual cost to the province ot the money, viz.. 6 per cent, at the present time and a small addition, not exceed- ing 1 per cent., for expenses, which would vary according to the term o! the loan. For 20 years it would be 1 per cent., lor 30 years .79 per cent, and for 40 years .61 per cent., while the interest would be reduced for new couli] PICKED UP THE Jas. Croil, an old time i Captain Ian Hay. Bolth. boforq' tlie tan layman, ts dbnd at'Montreal. (Cuiuultan club at Toronto, nald tho Germnus ck'uftng wider tlieir bro- ng has acceded to, sur- rendering the rams and ammunition requested. This time affairs reached the dan- ger point, and the'Kins's capitulation did not come -in time to prevent a clash or arms between the Greeks and the allied 'were landed at Piraeus. Athens lived a 'day ot terror wliile opposing troops battled in the suburbs and -bullets buzzed j number of. votes. The'assoriatinn would be managed by a -uon-partizan board, a commis- sioner or chairman would be appoint- ed by the lieutenant-governor, who would alpo appoint two oC the mem- bers. The other two would be appoint- ed by the union of municipalities and while two must he the nolittral party which received the largest num- ber "of votes at the last election, the other two must be of the political party who received the next largest about, the palace of the king and over the roofs of the city. The Spanish end Dufch ministers managed to bring the king and the allied authorities to- gether, with the result that allied troops were withdrawn. A ray of hope glimmers through in the Kuuiariian situation. The Ger- man hosts have swept almost up to the borders of Bucharest, but here have been met by a vast opposing annv of Russians and Rumanians who are making a desperate stand to save The exneuses of borrowing would be reduced by the use of a standard form of'mortcatre free of cost, free registration of mortgages at land titles offices, free auditing of books by the and free offices at parliament butldines. etc. The loans would be 20, 30 and 40 year terms on amortization a loan of ?1000 for 20 years would cost the bor- rower each year including both principal and interest. For 30 years'the payments would be and for 4Q years ?fi3.27. The interest is paid annually rieht through thi Teutons have been pressed and term, and the balance ot the money the capital. South of the city the is placed In a sinking fund, interest being allowed at the'rate ot 3 per cent, per annum compounded. The funds of .the association only be available to farmers who are cultivating their own land; and the proceeds of' the loan advanced can be used only for the following mil poses To purchase land for aericul tural purposes, for the improvident by- the erection of buildings. The Russians are conducting a great the purchase of livestock or equip- battle in the Carpathians for a pass-Iment; for paying.prior encumbrances age into Hnngarj A footing has been I or for the pavment of debts which have been incurred previously to the the armies have settled down to a deathlock on the ArchQgu, a few miles from the city. The ques- "-ticn-ls as to the Russian re- inforcements are heavy enough to force the Danube. Teutons back across the gateed in one village on the ridge of flie southern ranges and the Russians are gaining ground. obtaining of the loan No loan will be made to any one person for any less than nor more than In view of the narrow margin of profit extreme powers of foreclosure will be provided for in the bill, but in view of the fact that the repay are spread over a long LEGISLATION LOOKING TO CHEAPER MONEY FOR FARMERS Although the question "f money for the farmers on long term term of years it is expected that there 1 -wien fare It is pro posed however, mat. should the need Southern. Alberta, nevertheless it is arise'the hoard will Tie authorized to of the big problems which has take possession wnen this course has loans may not appear to be a pressing will ho faw occasions .one at thejpresent time, especially in been before the United Farmers of past, and .there is no doubt that it will be_ an issue in provincial affairs in the near future ;Jt is; therefore interesting ;to note >yhat is being done in other parts of the Dominion to solve the problem of farm loans. The new government of Manitoba, since its inception, has initiated much progressive legislation, -..and the' other flay before th'e Union" of Tlural Munici' paHUes convention in Brandon, Wan., Hon. .Edward Brown, provincial treas explained the outstanding'tea the draft bill to be called "The Manitoba Rural Credits _ Trill" go before the provincial legislature at tho winter session for sanction The bill embodies the best points in farm1 loan legislation m and New Zealand, and also takes note of the findings of which investigated the problem ior 0 S. Congress and lor the province of Saskatchewan. In his address Hon Mr. Brown said: The direct benefits of the j-eduction injnterest rates, reduction in cost of "procuring money and the benefit from, the lonjj terms of renay- (inent The Indirect ybe the attraction that cheaper money for agriculture would prove to immigra- tion, the direct have on the high cost of liv'ing! and the competitive effect upon loan com- panies. The co-operative 'feature; was an Important item in the bill It wag; deemed important that the control oeen recommended by tne committee the.mnnicrpality interested. In ;the draft of the bill being-pre- pared it is provided that the date for the anriuaV payments shall be Decem- ber, -but itbis is a detail which has not been finallj determined The bonds issued against the mort- gages will_be edged security, as their liahiHtv will represent only 40 Talue of the mort farms These bonds will be issued by the treasury department, through any of the banks, or through any wenTestabitshed firm of brokers at any this'.way'Iand mort- gages will be presented in the form of liquid security, and this will pro vide" and steady investment to any one with money to lend yielding interest at the rate per cent, pay: able halt-yearly. In case sufficient funds cannot in our own province ;lt is proposed to establish permanent-markets for this form It is anticipated that when the char- acter of the security is thoroughly understood these will, sell at a lower. rate. o! interest than the bonds of the government itself. At least, this is tne experience in countries where similar securities are marketed .-In', connection :with this question, it to note that at the re --convention of the Western Live stock Union in Calgary, the issue was an address ny J W Leedj who the great increase in livestock production in Kansas follow ing i the inauguration of a scheme amo'ng the 'banks of that state foi loaning, .money to farmers on iong thus .putiing the farming pop should be so vented that it should position to take advan never become a merely money making j concern There would be three par- ftes to the contract, first the govern- ment, who would supply half the capi- aeco'nd, tne borrowers, who would 'supply the other half and tniid the municipalities who would, in the last t. resort, guarantee the association loss. Any profits would go to the borrowers who would'be the shartf-' holders, as the government would not share in any profits beyond the capital it would furnish Every borrower-must 'Subscribe for at least equal to 5 per of "'the loan -If.tho borrower sold hia farm the shares must "go with the mortgtge to the new owner r.nd if the borrower dlss iii.j lulidi go with ,1' the property. All giiires are held as --jeilaftral tot tfie'liuu end must tage of cheaper credit in the conduct of their business of Alberta have been Interested 'In this important matter for a. long time and will watch with much interest the success of the ven- ture-' in? Manitoba. Monday tells the tale The price ot wheat is down, but bread seems to be up to May. Commissioner Grace wouldn't qualify for a diplomat He raised the price of coal in (he face of an election in uhicli he is a candidate Her. A. Sberk, a pioneer Congre- gational minister in Western Ontario, died at The Island of Sardinia, in Hie Medi- terranean, lias been ravaged by it cy- clone. Lieut. Keglnald Stratton, son of Aid. A. H. Stralton, Petorboro, has won the Military .Cross. "Unable to get coal, many Gait citi- zens have appealed to the mayor to Set relief, Rev. G. Weir, of Glcncoe, is called to Mount Ziou Presbyteriau church, Kidgetown. An enrolment of 105 is the record of the new industrial classes recently started in connection with Whitby High school. Lloyd Miles, of Jaspar, Out., is charged with petting fire to the home of Frank Mitchell. A new police order prohibits the parking of automobiles in the entire downtown section oi Detroit. Some convalescent soldiers from i Toronto sent to the tuberculosis pital at Kingston have gone a way without leave. ken war machine. Tho Viceroy, Lord lias been making a tour of India last- ing nearly three months, is everywhere keen enthusiasm among all classes to win the war. American -bankers arc warned by tho Federal Reserve Board to. ayoid locking iii) their funds by purchasing treasury bills of foreign governments involving long'term obligations. "If tho allies are "even reduced to an armistice by the American in- says the'London Post, "they would regard the United States as a traitor to tho cause or world free- dom." As a safety measure and in lieu of gates at crossing, G. T. H. trains pass- ng through Gait will not exceed six miles an hour. Jos. Devine, of Cobourg. who offer- ed a 'Belleville policeman a drink from a flask, was arrested and fined ?2QO or three months. The case of the accused Manitoba ex-Ministers and that of Dr. R. M. Simpson will be heard at a special Assize Court in Winnipeg in January Suing for for injuries' sustain-' ed when he fell into an excavation, Dr. George W. Orchard, of was awarded and costs. i Londou Ministerial Association will1 protest to the police against a bos-, ing contest under the auspices of the! Sportsmen's .Patriotic Association. The expenditure for, charitable pur- poses fro the New York city treas- ury amounts to nearly fourteen mil- lion 'dollars each year. An Alabama .planter looks for cot- ton to go to" the i forty cent be cause ot a demand rains in the south and boll weevil attacks (From Our Own'Correspondent) Magrath, Dec. is ex- irieacing- the biggest building boom business blocks in the history of the town. No less than four arc at present under construction, tho latest of which is a new moving" picture house on Broadway, faciug gant brick structure which will soon be the new home of thtrMagrath Trad- ing Co. Melvin Godfrey is the man back of the. picture houso and he hopes to give the town a plant second to noue in the south country. The body of the building will be 40 x GO feet, with a comfortable seating ca- pacity of 350. A good-sized stage will be included and every appliance io being used to make the building lire- proof. ,Mr. Godfrey hopes to have the place ready for the holiday sea son, at which time the public will be shown some the best films on the road. The. management is installing a new picture machine-and numer- ous extras are being added for the benefit of the pleasure seeking public. The big chicken supper aiitj dance, given last night under the auspices j of the primary association proved one of the social events of the season. The ladies in clla'rge deserve praise for the sumptuous spread and the general good tinie Private John; Roberts of: Del Bonita arrived home tonight from England. ,Mr. Roberts loft i Medicine Hat last the break up of thia- unit at Caesar's camp, Folkestone,