The Federal Farm Loan System, New Method of Farm Mortgage Finance, Under National Supervision: A Practical Manual Upon Organizing and Conducting National Farm Loan Associations, Also Joint Stock Land Banks. Showing how Farmers, Investors, Bankers and the Public May Obtain the Fullest Benefit of the System |
From inside the book
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Page 9
... charges are exacted again , in full or in part , at each renewal of the loan , which may come every three or five years . The result is that the farmer supports a vast , elaborate and expensive system of middle men or intermediaries ...
... charges are exacted again , in full or in part , at each renewal of the loan , which may come every three or five years . The result is that the farmer supports a vast , elaborate and expensive system of middle men or intermediaries ...
Page 10
... charges , have a tend- ency to keep the farm borrower in debt in- stead of encouraging him to get out of debt . Moreover , in some sections it often has been difficult for even successful farmers to obtain first mortgage loans at any ...
... charges , have a tend- ency to keep the farm borrower in debt in- stead of encouraging him to get out of debt . Moreover , in some sections it often has been difficult for even successful farmers to obtain first mortgage loans at any ...
Page 49
... charge borrowers anything for its services in securing loans for them , but it need incur no expense in connection there- with . Only those experienced in co - operative building and loan association affairs can ap- preciate the almost ...
... charge borrowers anything for its services in securing loans for them , but it need incur no expense in connection there- with . Only those experienced in co - operative building and loan association affairs can ap- preciate the almost ...
Page 51
... charge whatever . The secretary - treasurer of the national farm loan association in any locality , is the one official upon whose carefuiness will depend much of its success . He need not be a farmer nor a shareholder , and after it ...
... charge whatever . The secretary - treasurer of the national farm loan association in any locality , is the one official upon whose carefuiness will depend much of its success . He need not be a farmer nor a shareholder , and after it ...
Page 52
... charge of the directors elected by the shareholders and of the officers and com- mittees chosen by the directors . The instructions they receive from the land bank's representative will help to make matters clear . " It is all easy ...
... charge of the directors elected by the shareholders and of the officers and com- mittees chosen by the directors . The instructions they receive from the land bank's representative will help to make matters clear . " It is all easy ...
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Common terms and phrases
accrue agent amount application appointed approval authorized board of directors capital stock cash centum per annum charge charter ciation co-operative collateral security coupon debt default deposits dividends earnings exceed exceeding expenses and profits farm loan act farm loan association Farm Loan Board Farm Loan Commissioner farm loan registrar farm loan system farm mortgage Federal Farm Loan federal land bank federal reserve Federal Reserve Act five per cent funds gages government bonds held holder indorsed insured investment investors issue of farm joint stock land land bank district land mortgage lender loan asso loan bonds issued loan committee ment mort mortgage loans national farm loan organized paid payment person principal rate of interest real estate receive Secretary section twelve sell semi-annual dues shareholders shares six months stock land bank supervision surety bond taxation thereof thrift tion Treasury unpaid vote
Popular passages
Page 193 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 227 - That if any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 224 - That if any person shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting any note, in imitation of, or purporting to be...
Page 225 - ... draft, bill of exchange, mortgage, judgment, or decree; or who makes any false entry in any book, report, or statement of the association, with intent, in either case, to injure or defraud...
Page 180 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on personal security...
Page 225 - Currency, or from the board of directors of such bank, except when ordered to do so by a court of competent jurisdiction, or by direction of the Congress of the United States, or of either House thereof, or any committee of Congress or of either House duly authorized. Any person violating any provision of this section shall be punished by a fine of not exceeding $5,000 or by imprisonment not exceeding one year, or both.
Page 224 - Other than the usual salary or director's fee paid to any officer, director, or employee of a member bank and other than a reasonable fee paid by said bank to such officer, director, or employee for services rendered to such bank, no officer, director, employee, or attorney of a member bank shall be a beneficiary of or receive, directly or indirectly, any fee, commission, gift, or other consideration...
Page 179 - State in which said bank is to be located, the amount of capital stock and the number of shares into which the same is divided, the name and place of doing business of each bank executing such certificate, and of all banks which have subscribed to the capital stock of...
Page 186 - Treasury shall require the associations thus designated to give satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as financial agents of the Government...
Page 179 - The names and places of residence of the shareholders, and the number of shares held by each of them. Fifth. The fact that the certificate is made to enable such persons to avail themselves of the advantages of this title.