Newspapers / The Franklin Times (Louisburg, … / Dec. 22, 1916, edition 1 / Page 1
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A. MERRY CHRISTMAS AND [HAPPY NEW YEAR TO ALL An Advertising Medium That Brings Results. The Franklin Times A. F. Johnson, Editor and Manager. ? THE COUNTY, THE S^ATE, THE UNION. VOLUMN XLV. LOUISBURG, N. C., FRIDAY, DECEMBER 22, 1910. ? - , NUMBER 45 How Farmers May Form A National iirni Loan Association . Farmers want cheaper money. ' T^hey ought .to have It. The Federal Farm Loan Act aids them to get it. The operation of this law is under the control of the Federal Farm Loan Beard. The board is the herfcl of the Federal Farm Loan Bureau which under the Treasury Department- at Washington, D. C. The Federal Farm Loan Act pro vides a way of getting mortgage loans for farmers at low rates or interest, at lengths of time to suit the borrow er, -and on easy terms of repayment. All fafmers have to do is f<j form themselves into national farm loan associations. The Government will do its part in helping them. Farmers, can easily form loan associations as' prescribed by the new law. Let ?? see how this may be done. Farmers Only Xeed Apply. Ten farmers may unite to form a national farm loan association. ,Thar. Is the least number the law allows, and farmers only can be members. If more than 10 get together for this purpose, so much the better! But <f only 10 farmers are willing to join an organization to borrow on farm mortgage, that number satisfies the law. . Let us suppose these 10 men are farm cvae-s. They may all be close neighbors &;id know eacli other well. But they ni.v live some distance from '".ch other, though being in the same . 'munitv, or district, or county. In tfe - case they may not know eaci ?t*: '* ao But that - makes no dlffs;-. nee . They all have the iuao t..,ns n view. They* want to borrow money or farm mortgages at 4. 5, ,-r C r>3.- ca.ii interest. They want the mortgaps.; t0 run 5, 10, 20, or -10 years, r?-*i>sp3. They want to pay the morirtze debt oiT a little at a time. Ti.o.v ktipw this will help them and so they get together. a Neighborhood Meeting. Now, tlicse 10 or more farmers In a community, call a meeting. It may be held in schoolhouse, a hall, ' i, churtlt, or -I 't one of-their liouses-mosv convenient for them all. V. Itci: n 1 1 :mers have com-: . to gether, ch-.y t'iocuss tile subject "In formallv an.: d?clje to form themsel ves into an association to oorrow mon ey on mortgage. They appoint a committee to draw up articles of as sociation. These articles should set forth the object of the association aiul the territory within which It proposes to do business. They may follow a prescribed form furnished by the land bank, or they may be modified :o suit the needs of any particular body of farmers: But nothing can be in cluded in the articles of association that i3 contrary to the letter Slud spir It of the law. The farmers who thus unite tliem selvs into a national farm loan asso. ciation then sign the artlCTes. copy of them is made to Kb sent to the Federal land bank of the district within which .the association is situa ted. When the articles of association are received by the land bank they are filed for future reference. Appraising hy a Loun Committee. A loan committee of three members must be appointed to pass on loans. A written report is drawn up by them after they have examined the lands. The committee examines the farms and farm lands for the purpose of appraising their value.'* The report of this loan committee, signed by ail three members, m-jt be sent to the land bank with tiie "articles -of asso ciation. Ail three members must sign the report or it will be worthless The land bank will not consider tht. request for loans unless ail thres members sjgn their report about tho value of the farms. Their reiport should state distinctly that the said committee had examined the lands ahd appraised their values. The lands and farms should be described, and the value of those upon which the members desire loans should be st<it-? ?d. -r. jit is very Important that the -loan committee put a Just valuation on the farms. Care should be taken not to put the valuation too high nor too low. The former would be rejected by the land bank; the latter might prevent the farmer from getting as high a loan on, his farm as he want ed. ... Loan committees should remember that thelF appraisement Is only pre liminary; It Is not binding on the Federal land bank of their district. For later oa the land bank will sand its own appraiser to fix his, values on the same (arms. It would be a fine, thing for the members of the associa tion If the two Independent appra;s ments of the same farms should com.) close together. It would prove to the officers of the land bank they wort dealing with an upright, Intelligent body of fartnero.- That would be a moral and Intellectual credit to the their financial credit. So loan com mittees should be fair at the begin ning. Let them fix Just values on tWc community. It certainly would help farms of those members who are a^k ing for loans. The report of the loan committee should also give any other informa tion which would help the land bank to understand conditions In that com munity. Making An Affidavit. W(th the list of proposed members the articles of association, and the re-, port of the loan committee, an affida vit must be made out and sent to the federal land-bank. This affidavit must be signed and acknowledged by the members. It must also be sign ed and acknowledged by the secre tary-treasurer, whose residence and ? post office address must also be stated on the affidavit. This affidavit, thus signed and acknowledged by the mem bers and the secretary-treasure! , should set forth that each subscribct is the owner of farm land, or is abou to bccome the owner of a farm. That Is, a person in the community may not be in actual possession of a farm, but expects to be in a short time, by pur chase, the owner of the particular farm described in his application; In that case he could legally Join the associalton and become a member . I The affidavit should also state thai the desired loans added together amount to $20,000. Farmers Only Can Be 31 ember*. JUe national farm loan association) are to be organized and run by farmers and for farmers. Persons not fann ers need not apply for membership; they cBuld not legally be acmlttcd. For the law says that no one except farmers 'shall bo members, and no one except members can borrow . Tlio lowest sum any farmer can borrow is $100; the highest is $10,000. Thos? are the limits fixed by law. The associations will grow by the admission of new members. After the affidavit, showing that the loans amount to $20,000 or more, has been sent to the land bank and the farm loan association has become a corpor ate body through a charter being granted to it by the Federal Farm Loan Board, a farmer -who wants to borrow $100 only can be admitted tc membership. In fact, there is no I limit to the growth of the association | after the first ten or more have become I a chartered association. Any farmer may be admitted to membership who wants to borrow on farm mortgage any sum ranging from $100 to $10,000. In this way the national farm loan associations will grow in numbers. Farmers as Shareholders. But farmers can not join without buying shares in their association. The valu?*of the shares is fixed at the low price of $5 each. Every farmer who becomes a member of a national farm loan association also becomes a borrower and a shareholder at the same time. For the law says that he must subscribe for stock to the amount of 5 per cent^of his desired loan. II lie wants to borrow $100, he must take 1 slia^e of stock; if $200, 2 shares If $1,000, 10 shares; and If $10,000, 100 shares. The borrower may pay in cash for his stock at the time he applies for membership, or he may wait until his loan is received and then pay for his stock for the loan . He may, if he wishes, even add the cost of his stock to the amount of his loan, providing this does not Increase his loan above 50 per cent of the appraised value of tthe land and 20 per cent of the perma nent Improvement thereon. But the owner must keep the buildings in sured . This plan of buying stock makes the national farm loan associations cooperative in character. When the farmer borrows money, the shares of stock he has to buy are held by the association as part security for his loan. But if the association prospers dividends on his tock must be paid to the owner. When his debt Is paid off, the stock owned by the borrower Ib cancelsd. 'fW la. It a farmer ? Ira? held two shares of stock he Is paid $10, the stock is canceled, and the farmer is no longer a member of the asscicia It's migrhty nice throughout each year. To have the fellowship, and cheer,. Of an old time friend-r1 To know that somewhfcre on this earth, There's a pal of prove? worth A true blend friend. | ~ And so this Christmas pay, old boy. ? I wish you loads and liads of joy. tion. The payment of a debt auto matically removes a farmer from membership In a national farm loan association . Each farmer is liable for the debt* of his association to twice the par value of the stock he owns. One-half of this liability has already been paid as represented by his shares of stock, held by the association, a member who held one share would be liable for only $5 more.. Thus the members take little risk and reap all the benei fits of cooperative mortgage credit. The Associations us Shareholder*. The money the farmers pay their association for stock is turned over to the Federal land bank to buy stock in that bank for the association. The cash may or may not be sent iu with the subscription for stock. If cash is sent, the. secretary-treasurer of t^e association must procure it from the prospective borrowers. Ea<hi farmer fays his share according to the amount of his loan. For example if one member wants to borrow $300 and another wants to borrow $lr000. the first one has to pay $25 and tiio second one $50. The subscription price of $1,000 for the land bank stock is provided in this way . tf-for any re&soi^ flowerer. any or all of the loans sliotlTa not be granted by the land bank. "Wier- money paid in advance on account of stock subscrip tions would be refunded. But the cash need not be sent In advance with the subscription made by tne secre tary-treasurer . When the loans p.ro granted by the land bank, the amount of the subscription to the stock may be deducted 'from the total amount o^ the loans. In such case the balancc is forwarded to the secretary-treasur er of the association. That is, if the loans total $20,000, the secretary treasurer would receive $19,000. Ho would then pay over to the farmer who asked for a $500 loan the sum of $475, and to him who wanted $1,000 (Continued, on Tenth Page) MB. W. M. PERSON. Senator Fj-o m Franklin. Mr. Person Is a lawyer of a wide p ractlce In Franklin and adjoining counties and has met with much succ ess. He waged a goo^ fight In the recent primaries and did much effecli ve work In the campaign before the general elections when Franklin made a decided gain In Its already large majority. He Is a descendant of one. of Franklin's oldest families and w*'1 no doubt, make an enviable record as .a legislator. He has always been a staunch democrat and will give the b est of his tlipe -o the service of tho people . Honard-Hlrks. Invitations reading as follows liav* been mailed to friends: quest the honor of your presence at the marriage of their daughter, Mar garat Hnlt. toMr. Cary MUls Howard, V ' ? Wednesday evening, January the third at eight o'clock, Methodist Church, Loulsburg, North Carolina . At Home after the tenth of January, One hundred and forty-eight, Chesnut Street, Danville, Virginia, j | No invitations in town. Reception latter ceremony at home of Mr. and Mrs. L. P. Hicks, from 9 to 11 o'clock. Friends are cordially invited . ?? # I *j Miss Hicks is the younger daughter of Mr. and Mrs. Lucas P. Hicks, and i? a charming young lady. Her sweet and charming disposition and lovely character has made her the favorite among her numerous friends who will regret to lose her companionship. The groom is i most likable youns man of splendid business ability. He was connected with the local tobacco market in 1915 being the head book I keeper for one of the largest buyers represented here, during which time he made many friends in L^oulsburo . The many friends of this popular young couple both here and at other places will watcli for the coming event with much interest and many congratulations. - School <?olng is a Business . ^Aj^the^eiul of the fpurth month, 1 ronB of the Graded School to a few things that may help 1*11 of us: We I need your cooperation and help. We can do your child very little good il he idles away all his time out of school and stays away from -school when there is the least inclination to do so. It is the business of the home to see that children attend school in a business-like way. An education can not be gotten like a shoe-shine, while you wait. A child that misses any considerable part of his school time will soon decide that it makes no dif ference whether he attends or not. It his father feels that way, who blames the boy? If the teacher tries to have your boy work hard at his lessons, it is poor policy to pass it on to the boy that you do not believe in her plans You have invested your money in the enterprise, and we are anxious for each patron to see to it that the chil dren attend regularly and do a reason able amount of work eacn. day. If your boy roams the streets in the afternoon and night, hangs around the drug- store, the hotel, or other places of social amusement, how long will it take him to decide that it is a perse cution to him to attend school? If you allow this to continue, can you have the conscience to blame th<> school if he grows up to manhood and has little education? " We want to help the boys and girls, but we can not be responsible for tl'C idle habits that are contracted out o? school. We are willing to carry out part of the load, but we can not edu cate your child against your will and his. We believe in rigid discipline. We believe that the sooner a boy or girl learns that there are certain things that must be done, the better for that boy or girl. We do not believe it is J productive of citizenship to allow a j boy or girl to play at going to school. We try to impress upon them the idea that school-going is a business, and that it is not business and not good morals to be an idler. W. R. MILLS. Supt. Judge Coo?e Not Doing Well. The latest report from Judge Chas. M. Cooke, who is in a sanitorlum 111 Richmond, is that he is not getting along bo well. His son, Edwin Cooke, left Monday for Richmond to spend some time with him. Mrs. W. Rufus HarrlN Dead. T^efuneral services of Mrs. W. Ru fus Harris, ^ who died Saturday at 2 p. m., wefe conducted Sunday after Kittrell, assisted by Rev. Waiter M. tlUmore, of this city, at the'family real dence three miles north of this place, and the interment was made at the Oaklawn cemetery. Mrs. Harris had been sick for many months and her death was not unex pected. She was 32 years old and leaves four small children, one boy a" u three girls. Her husband, her mother Mrs. Southall, and three brothers James H. Southall, of this cit?; Louis and Ferney Southall, of this county, also survive her. She was devout and highly esteemed ir. her community. MK. S. AT WOOD NEWELL. Member -House of Representatives. Mr. S. Atwood Newell, who was elected in November to represent Franklin County in the House of Rep resentatives in tli q coming State Legis lature, is a young lawyer of marker! ability and will give to the County good service. He is a son of Uie late Rev. Geo. W. Newell, of this dounty, and enjoys the^friendship and confl dence of a host of friends and acquain tances. Aft6r graduating he practic ed law at Willlamston for a number of yearo, but returoed to hjs.lioma coun ty twTo years ago." Mr. Newell. *'Jl no doubt, do credit to himself nnd bis county .in the important work he is undertaking. List of Letters . The following is a list of letters re maining in the post office at Louts burg, N. C., not called for Dec. 22nd, 1916: Mr. Simon Collie, Eddie Collins, Mr. Alfred Evans, Mr. Bryant Hall, Mr. C. D. Ball, Mr. W. M. Pate, Mr. Harry M. Rous^. C. E. Waker, Miss Roth may Williams, Mrs. Elnpra Williams. Persons calling for any of the above letters will please state that they saw them advertised. R. H. DAVIS. P. M. ltlg Hogs. The killing of the following big hogs the past week have been reported tc us. E. A. Kemp. Louifeburg township one weighing 280. J. T. Clay, Louisburg townsk'p three weighing 280, 250, 200. J. R. Woodlief, Louisburg township four weighing 280, 270, 270, 265. W. W. Holmes. Louisburg township. 430, 400. Mr. Bissett Made Deputy Sheriff. Mr. R. O. Rissett, who was employ ed as bookkeeper by the Hill L'vo Stock Co.. until the receivership pro j ceedings last week, and who was for merly connected with the local tobac co market here, was on last Friday appointed Deputy Sheriff by Sherit H. A. Kearney. He will do the office work. Mr. Bissett is especially capa ble and is justly popular among a host of friends and acquaintances;" who will be glad to know that he has taken this position. Sheriff Kearney and tho county are to be congratulated upon securing his services. Cotton Report. The tabulation of?the card reports shows that there were 10,991 bales of fcotton, counting round as half bales, ginned in Franklin county, from tlia crop of 1916 prior to December 1, 1916, as compared with 10,390 bales ginned to December 1, 1915. To Close For Chrlstnas . We are requested to state that the Banks in Louisburg. following the us ual custom, will close two days next week ? Monday and Tuesday ? to ob serve the holidays. All persons having business with these institutions will bear this In mind. mond and HopeWfll, Va., the ptfst week returning home Monday. LEGISLATIVE WILL HAVE BUSS STAHT. Urat Six Days Allowed For Passaic Of PriYate and Local Bills. The first six days of the approaching session of the General Assembly will be the busiest a North Carolina legis lature has ever seen at tTTat end of tho session, If the anticipations of tho'so who have experience In legislation and the ways of legislators are realized For there will be six days of grace fci tli6 private and local legislation before the constitutional amendments prohib iting suih enactments come Into fores on January 10. Result Is. It Is thought, that eVen now representatives and senators eect are framing those bills of local character which they hope to rush through the legislative machin ery before the constitution steps in to prevent. Roll call bills will not b? excepted from the six day flourish of local matters . With five days allowea for the passage of a roll call bill, it has still one day margin if introduced at the opening session. The committee of the Bar Assocla. ion appointed by the preident at tli.s Instance of_the executive committee at a recent meeting in Raleigh will meet here at 2 o'clock this afternoon to ccn^" sider matters 'pertaining to bills which will provide machinery for tile en forcement of the const'tutional amend ments. The committee is composed of Sen ators A. M. Scales and Matt H. Al len and Representatives Gallatin Ro berts, of Buncombe, and J. E. Pegram of Durham, and A. T. Grant. Moelts ville; E. T. Cansler, Charlotte; J. O. Carr, Wilmington, and W. S. Wilson, secretary. ? News-Observer, Tuesday. Mrs. W. J. By?rly Dead. Mrs. W. J. Byerly of this city died at Martin Memorial hospital at one o'clock last Monday morning, follow - Ing-a-veiy sei lous operation whlcH*o? curred Saturday night, a week ago.,_. Her physicians and her family real ized t^e seriousness of her condition from the start, but It was not until the latter part of the week that the public learned that her condition was critical, everything that medical skill could suggest was done to save her, and many prayers both In private and m public wore offered in her behalf, for Mrs. Byerly was a woman of very lov able character and was beloved by all who Ww her, but the progress of the diseasf wa'sf such that It was not pos sible to check Its course. Before her marriage about 18 years ago, Mrs. Byerly wp.s Miss May Leon ard, of Lexington, she and lier husband came to tills city about twelve years ago when Mr. Byerly btscame presi dent of the Bank of Mt. Airy, during her residence here she has won the love and confidence of our citizenship. She was very modest and unpretenti ous, and was unfailing kind and cour teous to the humble and poor as well as the rich. She was a faithful and consistent member of Central Metho dist church and gave her support and influence In the work of Hie women s societies. Th</ funeral was conducted at tiio elegant Byerly home on north Main street Tuesday afternoon at 1:30 o'clock by her pastor Rev. Geo. D. Herman, and her remains laid to rest in Oakdale cemetery; perhaps never before has such a profusion of lovely floral designs been offered in this city as a tribute to the gracious character of the deceased, as on this occasion. The spacious home could not accom modate the large crowd that gathered to pay their last tribute to the memorv of one whose womanliness and modes ty had won a place in tlieir affection. Those from a distance attending tho funeral were Misses Nora and Ella Leonard, of Lexington; and Mrs. Hur ley. of Newborn, sisters of the decear ed. Prof. Hurley, of the faculty of Greensboro College for Women, a ne phew of Mrs. Byerly, and two broth ers-in-law, Messrs. C. A. Hunt and E. E. Raper, both of Lexington; Mr. Byerly'g mother, ffnd sisters Miss Mary Byerly and Mrs. Will Polndester, of Winston-Salem, and Mrs. C. J. Tay lor, of Advance; Mr. C. M. Sheets, of fcorth Wllkesboro, and Messrs. Jacob Moser, of Taylorsvllle and E. K. Shore, of Rural Hall, and Dr. Byerlj., of Cooleemee, N. C. ? Mt. Airy News. Services at St. Paul's. Christmas Day services at St. Paul * church, at 11 A. M., Rev. Basil M. corned and asked to Jpln in these ser vices .
The Franklin Times (Louisburg, N.C.)
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Dec. 22, 1916, edition 1
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