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Newspaper Archive of
The Lone Tree Reporter
Lone Tree, Iowa
April 5, 1934     The Lone Tree Reporter
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April 5, 1934
 
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&apos;.REDERAL FARM LOANS TO per cent for the emergency periodl! when made through a national farm I DEFINES BANKERS'  R.J. taschnagel, secretary-treasurer of the lowa City National Farm Loan l.ssoeiation, received word today from ,Vm. I. Myers, Governor of the Farm 1 Credit Administration, Washington, L D. C., that Federal ,and bank loans News; Send It In. • at Home an expensive o Sg0e been In comrtant mm  by hundreds of p euceelI treatment d and bl pries. , Wonderfully eetlve, and positively safe remedy, be early nd quickly appll- home, and  treatm4mt Without lees of time or ex. Price large size, full treat- SLOO at your anywhere in plain receipt of $1.00 by D. P. Q. Holton, Kans. I not secured after using ol Will be promptly Accept no substitute. for Hea&che, , new, harmle6s, non-nazoot endorsed and prescribed bF of physicians and nurse relieves severe headahe Pelns, earache in children, sleeplessness, musc or rheumatlo pail a poBltlve money back At your druggist o D. P. C. LABORATORI Kansas. • DAk yor Barb w ]kmty LAST IER ED have been waiting for prices or easier i*.erms to buy yOur elec- r  your op- has come at last! ractive HASE PLAN naw makes Electric eration available to EVERYONE Brand NewMode NowoDilay 10wa ric Co. i and land bank commissioner's loans will be made in the future through the Federal land bank in bonds of the Federal Farm Mortgage Corporation, !which bonds are guaranteed by the United States Government both as to principal and interest, which will be at the i-ate of 3i per cent per annum ifor ,.:,_ bon' ,o be ssued at this I time. These b(,hds will take the ',p]ace ot the cash distribution in the disbursement of tffe unclosed loans r:reviously approved by the Federal land banks. t The bonds of the Federal Farm i Mr, rtgage Corporation, according to • the statement bY Governor Myers, will have behind then not only the un- conditional guarantee of the Federal Government a. to both principal and interest, and the capital of the Fed- :aI Farm Mortgage Corporation, am- ounting to about $200.000,000, but also the consolidated bonds of the Federal land banks issued in exchange for the bonds of the Federal Farm Mortgage 'Corporation and the mortgages ac- cepte by the land bank com:issioner as security for loans. ' Gove:or Myers assure:i Secretary ', Iasclm2el that ttle PedeStal Farm Mortgage Corporation bonds will be an attractive investment. "They wil! be as readily marketable as bonds of he United States Government and they will be quoted in all of the prin- cipal markets", he continued. "Hold- ers wire have to dispose of those i bonds should not sell them without first ascertaining their real market value." The Governor particularly stressed the fact that country bankers prob- ably will be large investors in these securitms since the creditors of farm- (.Is who are being refinanced may not all be in the position wSere tF, ey can hold the bonds so acquired and will find it necessary to sell them. Secretary Baschnagel states that these bonds, which will be tendered to farmers' creditors in payment of the refinanced indebtedne's, are "ex- empt f:om all Federal, State, munic- ipal and local taxation, except sur- taxes 21td estate, inheritance and gift taxes. They are lawful security for fifteen-day borrowings by member hanks of the Federal Reserve system. They are also lawful investnnts for all trust, public and fiduciary .funds of which the deposit or investment is ! under the authority or control of ¢be Government: The pafmont of :the interest on these bonds and the re- payme . of their principal are guar- lanteed by the U i!2fl, States, which means that if th Federal Farm Mort- gage Corporation should ever be un- able to meet the payments on the bonds, the Treasury will assume such payments. "'These bonds dll be issued in de- nominations of $100, $500, and $1,000. However, amounts less than $100 will be disbursed in cash. For example, a loan of $965 would he made in $500 bond, four $100 bonds and the rest in cash. In addition, to provide for certain debts, such as tae which cannot be paid in bonds, cash eover- ng the required amounts will be pro- vided. "Loans which have been appIled for and approved, but on which the cash has not been paid out as well .s those approved by the bank in the uture, will be financed ou the above basis, This arrangement In uc way disturbs or alters the other provis- one of the loans. The interest rate on new loans will ctlnue to be 4 Solitaire r PART IN RECOVERY OUTRAGEOUS I Sioux iCty Union,tat and Public For- um: It is indeed outrageous that the[ government should advocate and in-' sist on higher wages in lrivate in dustry and allow Mr. Farley, post- master general, to pursue an opposite policy in the postal department. The public should demand that Un- cle Sam's employee be in:laded in the New Deal and that Mr. Farley's boasted savings be not at the expeme of wkezs already sweated to a point of despr-ion. Uncie Sam should set an example as a model employer; not as a sweat- shop exploiter. PEOPLE WILL PAY Lyon County Reporter: We do not think much of Governor Herring's strictures on the failure of the spec- i session of the legislature to pass the NRA bill. The govern:or says it is a poor. return for the sending of 125 million dollars into Io'c:a. The people of Iowa wit1 pay their share of this money in the final etlement. Why Fabric Is Used in Roads In surfacirlg roads with c.tto: fab ri,:. the road ;, Iirl :,ari{ivd azd given the dczCred v:de. V,tc-n t!;e .u'/u'v b.conms firm it is sw.pt el .;z of lcme particles, and ;t rhie c.a: of l;ghI [ar app]:cd. V,'[:lo lbe ];:r hs Stilt sticky the t.orloi :ll)l"c is spread in • ' '" ,w," Ilq;lla srips a;;d l-!l,tl( rid.., c;vcred w:h he! asph:Htie .i! apItli( "d )y l:i{*;tlS O* ¢ :1 I.':': t:r(" '.'.4tri.Utr This is (.,,ve,'ed ".vi.h cv.:r:p s:l::d "zrav el or Ell']y ("l:d:" } :'.*:.:'- v:hIqh is .h{:ll (':WeT:'ly :',,i'. "" .'r' 't'TIC¢,|. .... DarW VY.:y tko "'" " " Tim r:fiW,.:w  (L<, refrae- tiozl ;llld I''!O ",t;''ll 'q llVll{ [L*." v.'all,r ,;r;.s. "; ::t" ,+:+;{ ;':::' ++;: ; ;o:', i: +ll tile +t;}|tl}>il" Si*!" ( ltl#* I)FI+I'%*( .r frtml tile %1111 (lip ll:f:iln } . !S i ]I'('IIIHF /vilh it.  i.olller Oil lilt- -$71. :'.I; I:'!t', |lFlijoetell. [FOIl| Slid Ill It]}I-!'VI'.': it!Ill ilS D(ISiIiOI2 [S tilt. [illS:i,i. i;[ [ht" lilt :J! dl'ODs thai are, 11 till" p,V;II-'T!I. ]lYl,,{ll'i:;: it, Y REMOVES CAUSE OF ffOMAffH (}AB Most stomach GAS is due to bowel poisons. For quick relief use Adler- k. One doe cleans out body waste, tones up your system, br/ngs und seep. At Leading DruSS. I csclc f;xeaSt.ee e,.r, tr-& I -'TFl, e undertake many things at ,- Joe, nytg " APRIL // 2--Flour now $1,090 a bael in Richmond, Va 1865.  3--C.ngre votes t eman- cipate the daves, 1852. 4--Henry Clay ad John # Randolph dvel blooI- ]y, I}26.  ..-Romantic Pocahonta marries John Relic, 1614. 6--Admiral Pear" rt to teach the Nortk Pole, 1909. / 7--Sauer Kraal rnamed Cabbage, 1917.  ...ponee de Leon fomIs St. Augustine. Fla., ttlak Head of Americ=n Bankers As- soclatlon Aasures the Presi- dent of Confidence and Desire to Cooperate Among Bankers ASHINGTON, D. C. -- President Roosevelt tn his address before the NRA conference here on March 5 an- nounced that he had received the fol- lowing telegram from Francis M. Law, President of the American Bankers As- sociation: "On this your first anniversary please allow me In behalf of the country's banks to express our full confidence and our sincere desire to cooperate In your courageous efforts to bring about recovery.*** The banking structure of the country is sound and liquid and banks have never been in stronger pc. sltion to function effectively. Condi- tions have Improved to the point where it is no longer necessary for banks to be super-liquid,*** There is a definite call now for banks, not to extend Icse credits or to make improper loans, but for a most sympathetic attitude towerd legitimate credit needs and for a recog- nition of responsibility for their proper and vital part in the program  re- covery." The Soundness of Bankin In an address before ",l recent trust conference of the association's Trust Division in New York, Air. Law said: "A depression cannot long survive a sound banking structure if the banking structure is responsive to legitimate needs and functions in a way that is virile and alive. The most cheering fact of the present situation is the knowl. edge that banks are In strong position. "Recovery, even to the most pessi- mistic, is no longer a myth or a rumor, nor is it merely psychological. Abun- dant evidence and proof lie on every hand--tangible proof. With a return of confidence the wheels have begun to go round and a great many well managed businesses may look for a profit during thls calendar year with fair assurance at least. For what has been achieved let us thank the President. who has labored with courage and patience and vision. Let us thank the Congress, whose members during the emergency have put the public welfare above par- tisanship. Let us thank one hundred twenty-five million of our own clttzena who have refused to be stampeded, but rather who have kept alive the divine spark of faith and hope, Cau for Confidence "We may reasonably expect that the ant action of the government In sta- bilizing the dollar will have a marked tendency to encourage industrial and other business eommltments. Business men need not be so exclusively engaged in taking counsel of their fears now that uncertainty does not haunt them. "Much has been said about the looS- ing of credit by banks. During the acute period of the depression banks for the most part have not been lending nor. really, nor should they be blamed. With public confidence shattered the banker was properly concerned t liquidity. having in mind his primary obligation to pay off deposits. The situation has improved to the point where super- liquidity no longer seems necessary. conditions have materially changed. will desire, for every reason, to return to a more normal lending policy. This means a sympathetic attitude and a recognition of responsibility for his proper part in the program of recovery by the banker as he passer upon and meets sound credit requirements of business as it swings Into and con- tinues on the upward turn." °FuMc Confidence Returns Direct Information Indicates con* elusively that the banking situation ts showing definite and steady improve menL J. F. 2'. O'Connor. Comptroller of the Currency of the United States, enid in a recent address. He pointed out that the decided drop which has occurred in money in circulation shows the public has largely ceased hoarding. On March "1. 1934, the Federal R serve Board reported that the volume money i circulation amounted to $$03,000.000. which was a decline of $1.07.00.000 since March 1. 1931. It was a drop of $2,226,000,000, or over 29 cent from the all-time peak of $7,581,000,000 reached on March 13, 1933. About one-bali the decrease, it wa lialed out, reflected the return of currency from the public. Money in circulation declined rapid- ly after the reopening of the banks tn March, 1933. and has continued since to decline from week to week. "notwith- standing the lncreage In the demand for currency arising from enlargement of pay rolls and increase in the volume of retail trade." the Comptroller said. which, he added. "Indicates a continued return of money from hoards as bank- ing facilities were reestablished." About Bank Loans "As for the charge that the banks will not extend credit, the first aud ob vious reply is that the banks them. selves are made up of the very bone and sinew of the industrial commercial and agricultural interests of the eouv try. Bank dlreetor and, to a large e tent, bank oflcer, are drawn from business and farming population. they do not feel at any given mome. that It is wle to make a particul loan. it is more than probable that the are mound reasons for not maklnE it says an editorial  the Saturday l nlng Post. MESSER & NOLAN --LAWYERS-- SUITE 405 JOHNSON COUNTY BANK BUILDING IOWA CITY. IOWA Special Attention to Settlement of Estates and Court Work SECURITY ABSTRACT CO. ABSTRACTS OF TrIE L. O. W. C]earman, Pres. Carl S, rhel, llle I14 S. Clinton Sh Iowa City, Iowa D] LESLIE ADAMS Chiropractor Hours, 9-12; 3-5; 7-8 Lone Tree Phone 23 OSCAR OROSSHEIM Better Photographs For 44 Yearl Muacatine, Iowa I JOS. ]K OTTO ! I Attorney At Law Ofce, ecO1 floor JohnS0u ] Count Bank Butldi, Iowa CRy Iowa. W.H.YOUNKIN Lone Tree, Iowa " Dtrlct Agent BANKERS LIFE COMPANY Des Moines, Iowa J. T. BOLAND Marble and Granite Workl 517 E. recOnd Muscatlne, iowa No Agentl--Buy Direct 8ave Money H. U. BAKER, D. O. SPECIALIZG in &no-Rectal dis- eases VERICOSE VEINS and HERNIA treated by AMBULANT METHODS, Mondays, Wednesdays and Frb days. Paul Helen Bldg., [owa City, Atl other hors at Lone Tree, Is. Charles Larew AUCTIONEER Crle all kinds of sales. Dates made at Eels office. Ine Tree. Is, 8-21 C.M. CANTRE, M. D. Office Houri: 8:0 a. m. to 12 M. 1:30 p. i,. to 5 p, m.--7 p. m, to 8 p, m. Sunday by appointment. Office Just WeIR of The Shell 8ewice etation Phone 4 Lone Tree, Iowa DR. O. B, LIMOSETI CHIROPRACTOR Licensed Palmer Graduate L Crease State Normal UnlveJtf ef isoonsin Un!¢erel.v tf Iowa Opposite Jefferson Hotel Washln0ton St. lewa Glty OR, H, d, BUEHLER Graduate Veterinarian Located in Lone Tree Office at Corbett Lumber Co. Phone 49 Residence Phone 176, at J. R. Corbett home Notice to HOG FEEDERS We have 60% Protein Tnks at $30.00 per ton. IOWA CITY RENDG WORKS Day Phone 6042 OALL ROY NIELSON Phone 54 Lone Tree For Standard 0il Co., (Ind.) Products MAENER AND ADAM, Llasmled Embalmeri and Funeral Directors =hOne, store 181 Lone Tree. Is. Nlltht Catle Answered Promptly Realdene Phone 1111 DR. I G. KILBOURNE Dntistry Office ups€sire in Fisher Block Hours 9 a. m. to 12 m. 1 p. mr. to 5 p. m. v3nl bY Alypolntment. 'Phone 65 V. O. NOH. M. D Offie Hors: $ to 10 a. m, 1:15 to 5 and 7 to $ p. m, 8mday S to IJ L m. 8dalr p. m. by t meal Phone 8@ NI@HOL|. IA. KODIK FINIS H I NQ 25(: w,.., ,o, and one print each of } slse 6 or 8 ], Kodak R,il Film, rash with order. Work re turned postpaid. THE PAkEN STUDIO CALEDONIA, MINN. Monuments Anyone wil anFOflng in our lne wll do well by caUg on us m) yo sre &gents mllaon, We carr a complete toek t all tlm. Night Phone 6136 iOWA (HTY. IOWA / Phone 6146 R. J. Baschnage], Manager Miller Bros. J. R. Baschnagelt& Son REALTOR Real Eslate, Loans andllnsurance OFFICE OF THE IOWA CITY NATIONAL FARM LOAN ASSOCIATION : (Organized Under the Federal Land Bank of Omaha) R. J, BASCHNAGEL, Secretary.Treasurer SEE US FOR LOANS UER FEDERAL EMERGENCY FARM MORfI'GAGE ACT FEDERAL FARM LOAN8 On Firat Mortgages Lonl Term Intertit 4Va% Limit 50,@00.00 One Pelion Iowa (llty, ll!