The Daily Ardmoreite. (Ardmore, Okla.), Vol. 23, No. 265, Ed. 1 Friday, August 11, 1916 Page: 4 of 8
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Ardmore Friday August 11 1916.
PAGE FOUR
THE DAILY ARDMOREITE
Sljp BaUtj Arftmomtg
"under VrfSfrn Management Since 1897
ARDMOREITE PUBLISHING CO.
BIDNKY Sl;us President
V. f' Sl'GOH Ma"?.?w
JOH. K. KASLEY Editor
THE OFFICIAL PAPER
Of Carter County and th City Of
Ardmor
If It Is In The Ardmorelte It la Legal
i Member of
Ardmore Chamber of Commerce
Buelnesa Men's Credit Association
Entered at the I'ontoffW at Ardmore as
Secunil-Claw Matter i
TERMS OF SUBSCRIPTION
The Dally Ardmorelte I
One Ywir . $3-M
One Month
One Week !
Pavable In Advance (
The Weekly Ardmorelte
One Year ty mail . 11.00
Hlx Months .GO
Three lion t lis .2
J'itynl.1 in Advance
Any erroneous reflection on the charao
ut . in I i ii it tif r.'.iilf it I i i in tit firiv ri.THnn.
film or roniorati.'ii whirli may appear In
the i-olunitiH of The Ardmorelte will be
Itladly enrrected upon its licniK brought
to the altentiou (ho management.
Phones:
Business Manager's Office 538
City Editor's Office l 5
Job Department (84
Ardmore Friday August 11 1916
oiir..-a?&E 1
anils become angry at one another
It really J not pleasant to live In
Texas until the state has settled the
prohibition It-sue.
0
THE FARM LOAN ACT
' The farm loan or rural credits meas
ure became a law on July 17 when it
1 wag signed by President Wilspn
Evolved as it has been out of bun
dreds of similar measures it should
proVe to be a forward step In help
ing the farmer to buy land improve.
his present possessions or pay off
existing mortgages bearing a higher
rate of interest than can be charged
under the system for which this law
provides. 'While the law Is far from
Ideal' It IS a beginning toward Improv
ing farm financing.
The act provides for the establish
bent of twelve regional federal land
banks' and permits the organization
of any number of joint stock land
banks for the purjwse of making loans
at rate of interest not to exceed
per cent for long periods of time and
on the amortization plan.
Tor the purpose of establishing the
federal land banks which must have
a subscribed capital stock of not less
than $"30000 each the country will
be' divided into twelve regions or dis-
tricts with one bank in each The
capital dock of these banks will be
divided into shares of $5 each and
THE WETS AND DRYO ' '
Drlng a crowd of T3x is democrats
k I I ! 1 .
lui'llMT laiz; I 111 III a l .'in I I ;ur 3I1V uiwuru unu piiHM-n n f
formal purpose and wit.'nn five mln-f offered for sale to anyone. If any of
utes after the prayer Invoking bar- the. stock remains unsold thirty days
arter being placed on ttie maruei me
secretary of the treasury shall buy it
for the United States. Ultimately
however it is Intended to have this
stock owned by national farm loan
nssnciat ions.
The membership of these local na-
tional farm loan associations Is to
consist of owners and operators of
farm land who wish to borrow money
under the provisions of tills act. Any
ten or more men who own and oper-
ate farm land may organize an asso-
ciation of this kind provided they
wish to borrow In the aggregate not
leas than $20000. Each member of
the association to which he belongs
rmust buy stock in the association in
a sum equivalent to 3 per cent of
the amount he wishes to borrow
which stock will be held In trust by
the local association as additional se-
curity for eacli member's loan. The as-
sociation in turn when It applies to
mony on their counsels they w n n.ve
segregated themselves ii.to two
groups. They will have reas'd to be
democrats except In name and be-
come wets and drys antis and pros.
And they will see almost exeiy ques-
tion that comes up -lir-iu -;li wet and
fry spectacles so that 'n strict real-
ity they are fundamentally as antag-
onistic as republicans ! n 1 Ji'iroerats.
Prohibition Is as perennial is it is
paramount as an issue in our politics.
The methods devised -o keep it ut-
slde party councils have fallal utter-
ly. It determines most other decis-
ions and Influences all of then) until
it would hardly exaggerate '.o Fay
that no question Is considered cn Its
own merits. Dallas Mornln; New3.
Jim Ferguson was elected qovriinr
on h platform demanding that .he pro-
hibition question rest for a while.
Every Texan would like to see a rrst)
from this discussion. The pros and
SATURDAY SPECIALS
AT HENRY BAUM & CO'S.
Children's Muslin Underwear 1-2 OH
LADIES MUSLIN SKIRTS
Chemise Combinations Suits Teddies Pants
The $1.25 kind for .....98c
The 1.00 kind for 79c
The .75 kind for 59 C
The .50 kind for 39c
The .25 kind for 19 C
MIDDIES
Q "1 00
$1.50 Middies for
1.00 Middies for 75c
.50 Middies for 35c
Colored Voiles and Batiste 36 inches wide
35c value for 20c
25c value for X5C
One lot of novelty and embroidered Voiles to
close at HALF PRCE
One lot of Dress Summer Materials
nndpO
Children's Gingham Dresses at Prices to close
out.
COLORED SATIN PETTICOATS
$1.50 value for
$1.00 value for
SI13
75c
HENRY BAUM & CO.
the federal land bank in Its district
must buy stock in the bank to the
extent of 5 per cent .of . the money
it deslreg to borrow for its members
same to be held In trust by the bank.
Borrowers who do not have money
with which to buy stock in local loan
associations may borrow the price of
the stock as a part of the loan on
their land.
Each stockholder In a local associa-
tion will be liable for the acts of that
association In a sum twice the amount
of his stock. Thfs of course is rot
a serious matter since no man und'r
this law can borrow more than h-i'f
the appraised value of his land ex-
clusive jf permanent improvements
ply 20 tier cent of the value of
such improvements and then only on
first mortgage. In all cases therefore
the risks will be perfectlv safe and
no member of a local ns.i iciation
could possibly lose anything because
of negligence or bad management on
the part of one of its members.
In case it is impossible to organize
a local iarm loan assoiiation ;n a
given locality any individu.-l entitled
to a loan may through agen:s iui ke
application for a loan direct to the
federal land bank in his lisnict.
Loans may be made for th follow-
ing definite purposes and fur none
other:
(a) To provide for the purchase
of land for agricultural ma.
(b) To provide for the purchase of
equipment fertilizers and live stock
necessary for the proper and reason
able operation of the mortgaged faun;
the term "equipment" to be defined
by the federal farm loan 00 irl.
(c) To provide buildings aiul for
the Improvement of farm land; fie
term "improvement" to be define! ly
the federal farm loan board.
(d) To liquidate indebtc Int'sa i" '."ue
owner of the land mortgni;nd o:;i.-.ting
it the time of the organization o? III1?
first national farm loan as.-).:Satbm
established In or for the coiTtv in
which the land mortgaged is situated.
or indebtedness subsequently in
curred for one of tho purposes men-
tinned in this section.
No individual can borrow more than
$10000 or less than . ! 03 ur.der this
law. All loans must run for at legist
live years and may run for forty
years but not longer. However any
borrower may after five years pay
off any remaining part of his loan on
any interest day in sums of $123 or any
multiple thereof and thus liquidate
the loan in less time than the mort
gage calls for.
No federal land bank or joint stock
land bank Is allowed to charge more
than C per cent and never more than
1 per cent In excess of the interest It
pays on Its hind bonds. If for ex-
ample the bank pays only 4 per cert
on its bonds it can charge only 5
per cent on the money it loans on
farm mortgage. Out of this margin of
1 per cent the banks must pay all
expense of operation and set aside a
certain amount for a reserve fund.
The federal land banks are not al-
lowed to charge commissions or fees
for making loans except such as may
be authorized by the farm loan board
which has complete control over all
land banks.
Each federal land bank may after it
has loaned $.".00110 on farm mortgages
issue bonds to the extent of $."i0000
against the mortgages and then use
the money thus obtained to make
further mortgage-secured loans. This
process of lending on mortgages and
selling bonds may be repeated by
e.u-h federal land bank until it has
outstanding obligations equal to twen-
ty times its capital stock. Thus rt
federal land bank with a capital of
$T."iOot0 may lend a total of $13-
(00000 on first moragtges.
ITi.th mortgages and bonds are ex-
empted from all taxation and the capi-
tal stock of the federal land banks is
likewise exenmted. The bonds of
these will be issued in denominations
of $:o $:0 $100 $."0i and $1000 and
federal reserve banks and member
banks of that system may buy and
sell them.
The federal farm loan board which
has Miperxision over the whole system
is composed of the secretary of the
treasury as chairman and four mem-
bers appointed by the president.
Each federal land bank will be In
tl'C hands of nve directors appoinieu
! by the federal farm loan board until
1 the subscriptions from local lean as-
sociations total $100.0ih). after which
. directors are to b appointed In the
following manner: Three directors
( residents of the district in which the
land bank is located shall be appoint-
I ed by the federal farm loan board.
; and six directors also resilient of the
! same district shall be elected by the
' farm loan associations who are stock-
I holders in the bank. At leart one of
i the district directors appointed by the
federal board shall be actively en-
gased In farming at the time of his
l appointment.
J Kach local loan association must
have a board of directors and a secretary-treasurer.
The rules governing the Joint stock
land banks are very similar to those
governing the federal land banks. The
Joint stock banks must have a paid
up capital of at least $250000. They
may lend money In any amount to an
individual but in no case in excess of
50 per cent of the value of the land
and 20 per cent of the value of per-
manent improvements thereon. These
banks may lend only to the extent of
fifteen times the value of their capital
stock. The restrictions in regard to
interest rates are the same for both
systems of banks.
How this law will work whether It
will be of any material benefit to the
farmer Is a matter that no one can
! foretell at this time. The future will
i
t ll. If it should not work satisfac-
torily it will be comparatively easy
to make such changes as experience
may dictate from time to time. -Farmer
and Stockman.
The Strong Withstand the Heat of
Summer Better Than the Weak
Old people who sre feeble and younger
people who ars weak will he strengthened
end enabled to go through the depress-
ing heat of summer bv taking regularly
Grove's Tasteless Chill Tonic. It purifies
and enriches the blood ard builds up
the whole system. 50c.
A DANISH SCHOLAR'S VIEW OF
THE WAR.
15 per cent
SAVFf)
30 per cent
ABSOLUTELY!
We Danes are somewhat Inclined
to admire their unity of spirit for
their discipline ana their organiza-
tion as well as for their ability to
endure the sufferings of war without
a murmur; and we orcen forget that
these qualities are to be found equal-
ly among the other belligerents. If
we are impressed by the sight of
two states resisting many other
states if we are animated by a noble
feeling of sympathy for any one who
is fighting against a foe stronger than
himself we should consider another
aspect of the matter and should re-
member that the reason the Germans
are resisting so strongly is because
they had the greatest number of sol-
diers fully equipped and the largest
quantity of ammunition. The organi-
zation of which they are so proud has
reached a high level but it b normal
value still depends upon the object
for which It was created. If for
many years the object of this organi-
zation was the use or the most effec-
tive means for killing the largest pos-
sible number of fellow-men It is no
longer an organization to which hu-
manity should attach increasing im-
portance in the future. If the task
of safeguarding peace could be or-
ganized as efficiently as the Germans
have organized their preparations for
war mankind might rejoice at the
sight of a regenerated and civilized
Europe.
In connection with the war much
has been said of German culture. No
one would deny that the Germans are
highly civilized and that we are deep
ly indebted to them in science and
In mechanics but that does not pre-
vent us from despising a government
which is so lax in Its political morals
that lfThas recourse to a war of mines
and submarines against defenseless
non-combatants and worst of all in-
$100 3-piece Library Suite
Genuine Spanish Leather Up
holstering quarter-sawed oak
Golden polished til?085
frames. Drice now vvO
$100 Massive
Fumed Finish
Now
Divan Light
(50
$48s
Dignified Credit
Buy Now! and Save
vades and ravages lielglum despite
treaties and human rights. If 'we are
asked "What can be hoped from the
peace that is to be signed?" we can
answer briefly that In the future the
world must be defended against such
revolting occurrences as those we
have recently witnessed; that war
must become more difficult by the in-
creasing influence or the people them-
selves In international litigation and
by the Unanimous adoption of a year's
delay in the interest of a peaceful
settlement such as Bryan introduced
into a series of treaties between the
United States and otner countries.
The whole question can be summari-
zed in a single sentence "Ileal and
universal sacred and inviolable re-
spect for the rights of others." Until
we have attained this goal we shall
be living in the age of barbarism."
Professor Jospersen or the University
of Copenhagen in New York Times.
nated at Chicago instead of Mr.
Hughes he might have composed ex-
actly this sort of a notification ad-
dress. There is no passion displayed
for democracy in government either
in the United States or Mexico and
it must be admitted too that the
speech throws no strong light upon
Mr. Hughes' capacity as a construct-
ive statesman. Where we look ex-
pectantly for indications of the lines
Mr. Hughes would follow as presi-
dent we usually meet disappointment.
He is naturallyhighly crical of his
opponent's record but he Is cautious
reserved even surprisingly ambiguous
at times concerning the program ho
himself would follow In case he were
placed in charge of the government.
Springfield Republican.
WIRELESS ESTABLISHED BE.
TWEEN GERMANY AND SPAIN..
The Hague Netherlands Aug. 11.
At the Ardmore ITorse and Mule It is announced that wireless tele-
Market Saturday August 12 we will graphic communication has been es-
sell to the highest bidder 20 head of tabjhshed between Germany and'
mules and 15 head of horses from Spain. The Spanish station carrying
5 to 8 years old 14 to 15' hands 'on the service Is that of Aranjuez-
hlgh. Jack Miller. Phone red 922. radio. A similar communication had:
4-4! already been Installed between Aus
tria-Hungary and Spain.
If a
Disappointing.
"standpatter" had been noml-
Rent that room with a want ad.
Accomplishing "the impossible
in a Cigarette!
It is years back since smokers have heard of any
NEW quality in a cigarette.
But here at last is a cigarette that has accomp-
lished "the impossible" namely:
A cigarette that satisfies and yet is MILD
Chesterfields!
For the first time in the history of cigarettes
you are offered this new kind of enjoyment!
No cigarette at any price can give you this new
enjoyment except Chesterfields !
Why?
Because no cigarette maker can copy the
Chesterfield blend!
Try Chesterfields today
The Most Expensive Turkish To-
baccoes that grow are contained in
the famous Chesterfield Blend:
XANTHIA for its fragrance:
SMYRNA for its sweetness;
CAVALLA for its aroma; SAM-
SOUN for its richness.
20 for 10c
OGAR.S'B'TES
and yd they're MILD
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Easley, John F. The Daily Ardmoreite. (Ardmore, Okla.), Vol. 23, No. 265, Ed. 1 Friday, August 11, 1916, newspaper, August 11, 1916; Ardmore, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc154595/m1/4/: accessed April 23, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.