Ken Meenan, twice-married half
back at Northwestern university,
has decided to continue his college
football career under Pop Warner
at Temple university.
Old papers for sale at Empire.
MUSIC or
i ENTERTAINMENT
[ Furnished for Lodges, Parties j
or Dances
| F. E. MILLS PHONE 38 |
Land Banks Set
In Emt
i
By FRANK I. WELLER
(Annotated Press Farm Editor}
WASHINGTON, April 26.—The
federal land banks, pioneers in the
farm credit field since 1917, pro
ceed again as pacemakers under
authority of the emergency far-m
mortgage bill passed by the house.
During the next two years the
bill would permit the offering of
a maximum of $2,000,000,000 of 4
par cent bonds, the proceeds of
which would be lent at 4H per cent
interest on first mortgage security.
Twelve Land Banks
Tile banks, located in 12 key
cities, act virtually as a single in
stitution. They now have $1,283,
000,000 of gross loans outstanding
to farmers at an average of 5U> per
cent interest against which they
have $1,147,407,420 of bonds out
standing to the public at approxi
mately 4'4 per cent interest.
Limited to an interest spread of
1 per cent, the land bank's rate to
the farm borrower has been gaug
ed by the rate of interest it had
to offer to sell its bonds. The gov
ernment guarantees the interest on
the $2,000,000,000 issue and the
bonds are tax free.
