=7, 



a.un 



^"n>h 



NEWS 



(Continued from page 26) 

 tober 29. A total of 836 members received 

 patronage dividend checks averaging $36.99. 

 Patronage diTidend rates ranged from 11 to 

 20%. C. H. Becker of Illinois Farm Sup- 

 ply Company spoke. 



The ninth annual meeting of the Livings- 

 ton Service Company, Pontiac, November 

 22, was attended by an enthusiastic crowd 

 of 1250 Farm Bureau members and their 

 families. 



Patronage dividends ranging from 12 to 

 22%, exceeded $50,000, were the largest in 

 the history of the company. Manager George 

 Scheef disclosed that 94% of the Farm 

 Bureau members in the county were patrons 

 and received average dividend checks of 

 $34.00. 



President George Chappie pledged con- 

 tinued efforts of the board to a program 

 of equal rights for alt members, pointed out 

 that this was one of the principal reasons 

 for the fine record of the Company. 



William Householder was elected a new 

 member of the board. C. H. Becker was the 

 speaker. 



The eighth annual meeting of the Jo- 

 Daviess Service Company held November 

 10, at Elizabeth, was called to order by 

 President John E. Bonnet, who stated that 

 the company made a considerable gain in 

 volume during the past year. Patronage 

 dividends ranged from 11 to 16%, totaling 

 $15,126.59, the largest in history. 



Manager R. C. Flory announced that 638 

 patronage dividend checks were being dis- 

 tributed, an average of $26.33 per Farm 

 Bureau member. All directors were re- 

 elected. C. H. Becker of Illinois Farm 

 Supply Company was the speaker. 



The twelfth annual meeting of Ford Coun- 

 ty Service Company was held in the Melvin 

 High School on November 29. Manager 

 H. H. Doughty reported a 1 1 per cent gain 

 in business, with the lowest "Accounts Re- 

 ceivable" and highest "Net Income" in the 

 history of the company. Seven hundred 

 seventy-one members received patronage re- 

 funds, in the form of credit on accounts, 

 totaling $16,140.59. J. G. Dorward of Il- 

 linois Farm Supply Company spoke. 



New directors elected are: Earl Miesen- 

 helder, Piner City, Geo. Gilmore and Wm. 

 Elkin, Gibson City. 



The Green County Service Company 



of Monroe, Wisconsin, held an enthu- 

 siastic annual meeting at the K. P. Hall 

 in Monroe, Wisconsin, on December 2, 

 1938. Patronage dividends averaged 

 |17.64 per member and the patronage 

 rates ranged from 8% to 13%. J. G. 

 Dorward of the Illinois Farm Supply 

 Company was the speaker. This Com- 

 pany operates under the management 

 of the Stephenson Service Company 

 with A. O. Grossmann, manager. 



2500 WPA EMPLOYEES ON ONE JOB 



These men are mostly from the in- 

 dustrial areas oi Madison and St. Clair 

 counties. They are vroildng on the 

 Cahokia Drainage Ditch in Madison 

 County. WPA's short hours and $48 a 

 month apparently ore preferred by 

 many to a regular job. Unemployment 

 relief, the nation's No. 1 problem, is 

 closely linked with form prices. Many believe the solution lies largely in a more 

 reasonable attitude toward wage scales on the part oi organized labor coupled 

 with a restoration oi farm prices to parity levels. Many WPA workers are skilled 

 artisans. Normal farm buying power would send millions back to the ioctories 

 and construction jobs in useful employment. 



]\ew Farm Loan Plan 



Greene county farmers spread 22,000 tons 

 of limestone in 1938. They used but 15,000 

 tons last year. 



M NEW federal act to make 



j *Tr '* ^^S''^'' fo"^ anyone to get 



^^^ I a long time loan for buy- 

 ing or improving a farm became effec- 

 tive on May 15, under Title II of the 

 Federal Housing Act. 



The interest rate may not exceed 5 

 per cent ; it might be less depending upon 

 the credit of the borrower and the policy 

 of the bank, loan association, life insur- 

 ance company or other lending agency. 



The government doesn't loan the 

 money. It merely backs up the bank or 

 lending organization by insuring the loan. 

 Smaller loans of $5400 or less may run 

 for 25 years, bigger ones of more than 

 15400 are to be amortized in 20 years. 



But there's a catch to it. If you borrow, 

 you must agree to spend at least 15 per 

 cent of the amount borrowed in improve- 

 ments. For example, if you borrow $10,- 

 000, fifteen percent or $1500 of the 

 amount must be spent for materials and 

 labor in new buildings, repairs, etc. Your 

 own labor and any materials you may 

 have on hand for building can bie figured 

 in on the $1500. Of course you can bor- 

 row the money invested in construc- 

 tion or repairs. 



The act states that you can borrow up 

 to 90 per cent of the appraised value of 

 the property if the loan is $5400 or less, 

 and between 80 and 90 per cent for loans 

 from $5400 to $8600, and 80 per cent for 

 loans exceeding $8600. 



The FHA plan has the advantage of 

 eliminating second mortgages and peri- 

 odic refinancing costs and commissions. 

 You pay off the loan in monthly, semi- 

 annual, or yearly installments. 



The Federal Housing Administration 

 makes a careful appraisal of the property 

 you intend to purchase and then advises 

 you whether or not it is a good buy and 

 how much they will loan. You pay $3 

 per $1000 with application to cover the 

 cost of the appraisal. The bank or lend- 

 ing agency charges you up to $20, also, to 

 close the transaction. Loans up to $16, 

 000 arc insured under this plan. 



For further information see your local 

 bank or loan association, or write to Fed- 

 eral Housing Administration, 1001 Ver- 

 mont Ave. N. W., Washington, D. C. 



Modernizing ones home does not 



necessarily mean a major building op- 

 eration. Simply replacing some of the 

 accessories with modern up-to-date and 

 new fittings will work wonders. 



The first Illinois dairy herd improve- 

 ment association was organized in Mc- 

 Henry county in 1910. The extension 

 service of the College of Agriculture, 

 University of Illinois, reports 66 as- 

 sociations in operation with more than 

 1,400 members enrolled. 



Uncle Ab says if men and money 



aren't kept busy they lose interest. 



28 



L A. A. RECORD 



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