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THE CABOLINA UNION FARMER
[Thursday, April 17, 1913.
First National Bank
GASTONIA, N. C.
Capital, . . . $100,000.00
Surplus and Profits^ 75,000.00
We Pay 5 per cent, on Time
Certificates of Deposit
Your Business Solicited.
4 Per Cent on Savings Accounts and
Certificates of Deposit. Accounts
Subject to Check Invited
Merchants and Far
mers National Bank
CHARLOTTE, IN. C.
United States, State, Coonty'and City Depositary
Capital - - $200,000.00
Surplus - $200,000.00
European Farm Finance
GEO. E. WILSON.
W. C. WILKINSON.
iFirst National Bank
STATESVILLE. N. C.
Surplus & Profits - 33,000.00
Farmers are specially invited to open
an account with us.
JOS. C. nvIN, Pres. E. S. PEGKAM, Cashier.
GASTONIA, N. C.
Capital & Surplus - $ 92,249.26
8 Per Cent Raid on Time
Certificates of Deposit
Union National Bank
CHARLOTTE. N. C.
Capital - - - - $100,000
T. W. WADE F. B. McDOWELL
H. M. VICTOR
We cordially invite business and offer
every courtesy and accommodation con-
sistent with safe bankincr* We particularly
invite the accounts of farmers.
H. M. VICTOR, Cashier
Abstract of address delivered by
Hon. George Woodruff of Joilet, Ill.,
president of the First National Bank
of Joliet, to the First National Con
ference on Marketing and Farm
Credits, at Chicago, April 10.
Agricultural credit in Europe is
divided into two general subdivis
ions; first, mortgage credit, and sec
ond, personal credit.
The institutions belonging to the
first subdivision are of two classes,
the first of which is best typified by
The Credit Fonder de France, and
the second by The Landschaften of
Germany. The institutions belong
ing to the second subdivision are of
three classes, the first of which is
best typified by any of the ordinary
credit banks, the second by the Raif
feisen and Schulze-Delitzsch banks,
and the third by The Credit Agricole
There are, of course, in Europe
numerous agricultural banks having
characteristics somewhat different
from those of the above mentioned
institutions, but in the main the in
stitutions included in the above out
line constitute the real basis of agri
cultural credit organizations in Eu
rope and all other agricultural
banks are very largely patterned
The Credit Foncier.
The Credit Foncier de France, in
addition to certain activities that are
not strictly connected with agricul
ture, loans money on farm mort
gages for long periods of time on an
amortization basis. The chief advant
age to the farmer is in the fact that
he is allowed to pay off his loan by
making small semi-annual payments,
will never have to renew the mort
gage, which will continue to run un
til the semi-annual payments have
cleared the farm of debt, will never
he compelled to pay any renewal
commissions, will never have to go
to the expense of bringing down his
proof of title or having it examined
every few years, as under our Amer
ican system, and in addition will be
largely relieved of any anxiety lest
he fail to meet the mortgage when
due and consequently lose the farm.
The Credit Foncier holds these mort
gages as collateral for its debenture
bonds, which it sells to the public
and from the proceeds of which it
obtains the funds to advance to the
farmers. The Credit Foncier, while
under the supervision of the govern
ment, is nevertheless a privately
owned joint stock company and pays
regular dividends on its capital
stock. The rate of interest which is
charged to the farmer is not as low
as has sometimes been stated in
America, where attention has been
called to the fact that the Credit Fon
cier issues bonds hearing 3 per cent
Every Idle Dollar
of your money should be put to hard
When your money is invested it
works for you day and night-interest
accumulates with astonishing rap
Also the knowledge that your
money is safe from thieves or fire
helps you sleep nights.
Why not start a Savings Ac
count here and let your money earn
future money ?
WE PAY 4 PER CENT ON CERTIHCATES OF
DEPOSITS AND ALL SAVING FUNDS.'
Sonthern Loan and Savings Bank
chari^otte:. im. c.
JNO. M. SCOTT, W. S. ALEXANDER, W. L JENKINS
Pretidtat. Vice. President. Cashier.
Credit Foncier 8 Per Cent Rate.
The Credit Foncier 3 per cent rate
is due to the fact that the bonds car
ry with them a lottery feature by
which each bondholder has a chance
to win a prize consisting of a large
sum of money, but the cost of these
prizes increases the actual cost of the
bonds to The Credit Fonder from 3
per cent up to about 4 per cent and
the money is then loaned to the far
mer at 4 3-10 per cent. Therefore,
the farmer does not get 3 per cent
money, as is oftentimes stated.
The Landschaften banks of Ger
many loan money to farmers on much
the same basis as that employed by
The Credit Foncier of France except
that they do not make a practice of
paying a farmer cash for his mort
gage. They simply exchange their
debenture bonds with the farmer for
his mortgage and the farmer then
sells the bonds himself. The Land
schaften are under the supervision of
the government and are strictly co
operative organiaztions involving in
many instances the unlimited liabil
ity of the members, and, not being
operated for a profits or paying divi
Tjandschaften 3 1-2 Per Cent Rate.
Attention has been called in
.America to the fact that the Land
schaften sometimes issue bonds bear
ing a rate of interest as low as 3 1-2
per cent, but in actual practice this'
Landschaften 3 1-2 per cent rate
costs the farmer considerably more
owing to the fact that the Land
schaften do not pay the farmer in*
cash, but merely exchange their de
bentures for his mortgage and he is
then compelled to sell the 3 1-2 per
cent debentures below par. The
money consequently costs him more
than 3 1-2 per cent.
Ordinary Joint Stock Banks.
The ordinary form of credit bank
is operated on much the same general
plan as the ordinary commercial
bank in America. It loans to farm
ers for fairly short terms on the same
general conditions as in our country.
These banks are privately owned
joint stock institutions and would
doubtless be able to do much toward
financing the farmer for his needs
were it not for the fact that the Eu
ropean banking methods have led to
the present existence of but a com
paratively small number of ordinary
credit banks. These banks are usual
ly large institutions extending over a
considerable territory and are not
small independent community banks
as in the United States.
The rate of interest charged by
them follows to a considerable ex
tent the ups and downs of the money
Raiffeisen and Scliulze-Delitzsch
The Raiffeisen and Schulze-De
litzsch banks are small community
Institutions organized on the co-op
erative plan and not operated for
profits. The Raiffeisen banks oper
ate more particularly in the country
and are purely co-operative, while
the Schulze-Delitzsch banks operate
more particularly in urban commun
ities and are a somewhat modified
form of the purely co-operative type.
These banks oftentimes have behind
Stop Pests From
Here’s a remedy that will positively rid
you of the hawks, crows, rats, owls and
minks that steal your chicks. It prevents
and stamps out sapes, roup, limber neck,
leg weakness, sorehead, indigestion, and
diarrhoea—frees hens from vermlu.
MacNalr’s Cbicken Powder
Life to Chickens—Death to Hawks
Feed ft to your chickens with their food.
Then if a pest eats a chicken fed on it they
will surely die. Due to a difference in their
anatomy, what is life to one is death to the
other. Thousands testify to its value.
Send 30c for a package. Your money
refunded if it falls to do the work.
THE MACNAIR CO*
Box D Sulfoilf, Va.
NEW EMBLEM BADGE
ENAMELED IN BLUE, with the
desigm in £rold plate, screw back
style. The prettiest and neatest
Farmers Union Badge we have
yet seen. Price 25 cents each,
or 12.40 per dozen, by mail.
UNION SUPPLY CO.. Marshville. N. C*
Nancy Hall. Providence and Yel
low Yam Potato Draws
Ready now, $1-50 per thousand-
Farmers’ Plant Co., Enterprise, S. C.
Sweet Potato Plants
Leading Varieties. 15.000,000
Price 81-50 per thousand- Plants of first qual-
ty- Count and safe arrival guaranteed-
C. W. WAGGHTEL,
Box 49 HOMELAND. GA. M-1
Eggs and Chickens
100 nice Single Comb White Leghorn
Hens for sale : $1 each. Breeding pen
eggs, 15 for $1. Indian Runner Ducks,
fawn and white, lay snow white eggs,
13 eggs, $1. Both prize Hiniiers and world’s
Sonny South Poultry Farm. Newton, n. c.
Eggs From Prize Winning Pens
Black Langshans, Rose Comb Black Minorca
and Single (Jomb Brown Leghorns. 15 Eggs
$1 50. I won first prizes at Shelby, Spartan
burg, Henrietta, Lincolnton, Morganton and
Charlotte. I also have Tamworth Hogs for sale.
G. H. LOGAN, King’s Mountain. N. C.
The Best is Always the
When it comes to S. C. White Orpingtons and
White Indian Runner Ducks I have the best.
Eggs from either, 12.50 per sitting. I prepa) ex
press on two sittings.
them the unlimited liability of all of I ThoS. W. Hnnlcr. NorWOOd, N. C.
their members, and they accept de
posits allowing interest thereon and | Of f Don’t delay Act at once. Get
loan the money to their members for
fairly short periods of time. Each
one of their co-operatively owned lo
cal banks usually belongs to a co-op
eratively owned central association
which exercises a control over the en
tire organization, acting as a sort of
clearing house and central bank.
Co-operative Bank Rates.
The rates of interest charged by
these banks depend largely upon the
rates of interest paid on savings de
posits in each particular locality, for
they must, of course, meet competi
tion in order to get the business.
While as a general thing they are not
able to obtain funds at a cheaper rate
than other institutions, nevertheless
they are able to loan these funds at a
somewhat better rate than other in
stitutions, owing to the fact that
their expenses are very light, their
officers usually serving without sal
ary, and due to the further important
fact that they are co-operative or
ganizations and are not operated for
The Credit Agricole of France con
sists of a large number of co-opera
tively owned local banks which are
^ busy. Send $10 quick and get
new 36 lb. feather bed with 6 lb. Pair Pillows
FREE. Everybody buys. Everybody enthu
siastic. Agents start right in making money
first day. Agents and customers say best bed
and pillows ever offered. New feathers Best
ticking. Freight prepaid on all. Satisfaction
^aranteed. Big profits. Easy pleasant work.
Reference, Commercial National Bank. Write
today. TURNER & CORNWELL, Dept 19.
Charlotte, N. C.
Less 5tcait\- LonserVear
For sixty-seven years we have been manufac
turing and perfecting Engines. None can sur
pass the high-grade service the Schofield
Engines render today.
RnrinG baRTflf c«n«tn>ct«d with propr dwtri*
Dotion of ro«tRl. which strain whers
eomss. Buitt for bosTT duty, and particnlari/ adaptad
for saw mills, oil mlUs. eotton giaoaiiss, or a&y placa
•ncinos can bs usod. ^
All sixes. Center Crank type—12 berse power to 100 horse
^ powor—eido crank type—OO horse
FRDA FACTORY Pow«r to iso horsepower. Also
Tn vnil manofactoraboilers, tanks, tew-
lu TUU „ mmokm rtneks, saw mills,
end all kinds ef mechiD«ry*-fmU,
supplies, pip# salranised rooAnc.
Schofleld Iron Works
Dept. H Macon, Ga.
I AM Selling Cheap to Farmers
can save you money on watches, clocks,
watch chains, lockets, bracelets, rings, emblem
pins and every kind of jewelry. I will malL
post paid, a Union Emblem Pin for 6 cents. Be
sure and write for catalogue and save money.
WILL C. WALKER, Butler, Tenn.