Jasper County Democrat, Volume 22, Number 68, Rensselaer, Jasper County, 22 November 1919 — THE FEDERAL LAND BANK OF LOUISVILLE DECLARES A DIVIDEND [ARTICLE]

THE FEDERAL LAND BANK OF LOUISVILLE DECLARES A DIVIDEND

V. M. Peer, secretar-treas-urer of the Walker Township National Farm Loan association, has just received notice from the Federal Land bank of Louisville that the directors have declared a dividend of 6 % per 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 hank. This dividend is not unexpected by persons acquainted with the progress being imade by this bank. Althpugh it has been in business for a little more than two years it has paid all of its organization expenses and has placed 25% of its net earnings in 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 iprofits 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 he 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 within the next year. The success of the Federal Land bank is assured.