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'.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!