Evening Republican, Volume 22, Number 282, Rensselaer, Jasper County, 22 November 1919 — FEDERAL LAND BANK DECLARES DIVIDEND. [ARTICLE]

FEDERAL LAND BANK DECLARES DIVIDEND.

- V. M. Peer, secretary-treasurer of the Walkes Township National Farm Loan association, of Walker township, has just received notice from the Federal Land Bank, of Loufs- ' ville, that the directors have de- । dared a dividend of 6 per cent per I annum on all stock held by national ; farm loan associations. This will ' enable this association to declare a dividend to its shareholders, who are farmers in this vicinity borrowing from the Federal Land Bank. This dividend is not unexpected by , persons acquainted with the progress being made by this bank. Although it has been in business for a little more than two years it has paid all of its organization expenses and has placed twenty-five- per cent of its net earnings irf reserve account, and after paying this dividend has a nice sum left in the undivided profits. Regular dividends will be declared in the future. This! dividend serves to reduce the interest rates to the borrowers. All of the profits of the bank go back to the borrowers in dividends, thereby giving the money to them at actual cost. The borrowers will soon realize that, the •stock owned by them in the national farm loan association and the federal land bank is a good investment and one to be highly valued. The Louisville bank now has loans of more than $19,000,000 and it is estimated they will increase to $30,000,000 wi thin the next year. The success of the federal land bank is assured.