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FRIDAY? kSHi f i. ?ji>I 13?4XV Up ?9xa POLITICIANS IN CAPITAL AGOG AS PERSHING^ SAILS Washington, Sept. 3.?general Pershrng^B departure from France, --- * ? ? ?= ?nmmanripr of the srreatestj YlCW.(UUO VVu....WM.v. ^ expeditionary force in American history, has put thrills of expectancy! ' into the-political camp here?and fori reasons that present an amusing; paradox. The Democrats are hoping General Pershing will come back in a fighting mood and expose what they construe as a picayune effort to find fault with the war department's war enterprise in France. Many Republicans hope General Pershing's political complexion which has thus far remained yague and imperceptible, may take on a Republican color and whether or not he is the candidate of the Republican party for presilent, fhoro nwv be derived at least the pleasant advantage of "pointing with pride" to the commander in chief of America's biggest army as a Republican. But, if General Pershing has any political ambitions, he must acquire strength on the basis of his accomplishments in Prance?and just now mar committees of the Republican congress are busily engaged in investiirations designed to prove that the Democratic administration made i:icre or less of a fizde of everything 1 I Do You WANT TO I I OWN L-AND ? ? ? I A?K SUTHERLAND [ Now all of the land will be i some man's land?why not I -? "> Tk. I I come into your ioars * thrift you're learned to practice will now brin| to yon the J security of property-posies*ion, the happiness of homo-owning. We'll show you how to start so you can safely finish buying the property you desire. 15 ROOM HOUSE on South Main Street at cotton mill, lot Fifty-two feet front running back 210 feet. Price - $1150.00 / VACANT LOT little off South Main street, near cotton mill containing one acre. Will make two good building lots. Price $250.00 100 ACRE TRACT, 7 miles from Abbeville, S. C. 1 1-4 . milea from school and church. Off public road, rents for 4 bales cotton. \ Price $35.00 Per Acre ' 156 ACRE TRACT with 6 room house, barn, well, on public road, near school house. Price $30.00 Per Acre I ? ippks land 1-4 miles off | i public road, 3-room tenant bouse, small bam, one mile from school house, 9 miles from Abbeville. Rents for 2 bales cotton. Price $27.00 Per Acre 156 ACRE TRACT?Located 4 miles Southeast of Abbeville S. C. Six room dwelling, 3room tenant house, barn. About 2-horse farm rented for this year. Good bottom land, plenty ashe wood and I timber. Price per acre $30.00 166 ACRES?6 miles from Abbeville. Good dwelling, barn tenant house, located in Lebanon section, close to school and chnrch. Price per acre $30.00 36 ACRE?Tract of land, 3 1-2 miles from Hodges, 8 miles from Abbeville, good dwelling, barn and oathouses. Price, $1,650.00 r~ connected with the war. Also there are many in congress who want xo see the whole American venture in France exposed not merely as to matters financial but particularly as to .ha advance of Ameican troops or-J dercd a couple hours before the armistice. LAND BANKS FOR FINANCING FARMERS The organization of Joint Stock Land Banks has brought inquiries as to what relations these banks have to J the Federal Land Banks. This being j a matter of such interest to farmers I we give from a study of the Federal: Farm Loan Act, and the actual oper-j -a! T.nriH Ranks the dLlUIlb u1 tuc i- wuvawa ? following brief statement for their j information: These two kind of Land Banks have no relation with each other, except that both are chartered by the Government under the provisions of the Federal Farm Loan Act; both make First Mortgage Loans on the same percentage of valuations on' farm lands for a period of five to forty years under the same ammorti-1 zation plan of payment; both use ap-| paisers appointed by the Farm Loan Board; both are under the supervis-' ion and examination of that board/ and both have the power of issuing! tax free bonds, based on the Mort-' gages made by them. Neither bank' can charge in excess of six per cent.' interest nor collect directly or indirectly any commission for making loans. In their control and plan of' operation they are quite dieffrent as' shown under the following headings: Capital. Originally the capital ($750,000.-, 00 each) of the Federal Land Banks was paid in practically all of it by the United States Government, but hat is to be gradually returned to .he Treasury by the capital stock which every borrower from these banks is required to take to the extent of five per cent, of his loan. ; The capital 3tock of a Joint Stock Land Bank, which must be at least $250,000.00, is paid in by private ubscribers, the same as in a National Bank. No borrower is required to .ake any of this stock to obtain a loan. Management. The Federal Land Banks are now - jr 1 | managed by five directors, appointed by the Farm Loan Board and the' Joint Stock Land Banks by five or more directors elected by their own Stockholders. How Loan* Are Made. The Federal Banks loan only to I members of the Local Associations, who must also be stockholders in it.' The Joint Stock Land Banks loan di-J rect to the farmer, the same as an: individual, or any ordinary BankJ would except that as stated above both Banks use a Federal Appraiser J - - - i but in the Joint Stock Banks no outer; appraisement is required by low. The borrower from a Joint Stock Bank assumes no obligations except his' own regular semi-annual payments. Sub-section 4 of section 12 of the Farm Loan Act restricts borrowers to four specific uses for their loans. Sub-section 6 restricts loans to those who are actually cultivating their farms, or who bind themselves j to do so shortly. Sub-section 7 limits the amount to any one borrower to $10,000.00. Sub-section 10 imposes the penalty: of foreclosure at the option of the Land Bank if the borrower uses any1 portion of his loan for purposes not1 specified in his oroginal application, j These restrictions, however, apply to the Federal Banks only, since sec-j .ion 16 of the act states that they do -ot apply to the Joint Stock Banks,' so that it would seem that those1 Banks can loan for any legitimate' purpose to any farm land owner ac-; ceptable to the Banks, and for any! amount above $10,000.00 his proper-' ty will justify. The Farm Loan Board j iinwpvpr. has made a regulation' that no Joint Stock Bank can make any' one loan in excess of $50,000.00. ! Cost to the Farmer*. The borrower from a Federal Land Bank must pay directly or indirectly! the cost incurred by both his associa-l tion and bank. This applies also to I the Joint Stock Banks, except thatj there are no association expenses.1 Until the Joint Stock Banks' are in J active operation it will not be possible to say what the relative costs will be in the two kinds of banks. As to1 the interest rate, however, the comparison can now be made. A bor-1 rowe1" of 51,000.00 in a Federal Land Bulk, pays at present five and one half per cent, on that amount of|l which he gets $950.00, less expense,'! in cash and $50.00 in Stock, while in I the Join Stock Bank he gets $1,000.- I 00, less expenses, in cash, and pays * six per cent. || Socd*. | A very large number of farmers, bought Liberty Bonds largely from: patriotic motives, but now that some of them have some funds to invest,! will hp inteirated in knowinel M4VJ ? ? ? about the bonds offered by these Land Banks. The first and strongest security behind them is the first mortgage on farm lands, and after that the capital stock of the banks issuing them. At present the capital stock of the Federal Banks is held partly by the j Government, and partly by the Na-: tional Farm Loan Association. Ther does not appear to be any double liability on the stock held by the Government, but ultimately that will be replaced entirely by association stock on which there is double liability. This associaton stock is the same as that held by the borrowers, members of the associations, and as all the twelve Federal Banks are jointly liable on the bonds issued by any and all of them, every borrower from a Federal Bank in the United States is behind these bonds as guarantor. Drincioal and interest to the extent of ten per cent, of his loan but no more. I There is double liability on the! stock in Joint Stock Banks the same as in National Banks, but each one of them stands as the sole guarantor, of its own bonds, however the' Federal Banks are permitted to issue bonds up to twenty times their capital and surplus while the Joint Stock; Banks may issue only fifteen times. I At present the Federal Land Bankj bonds pay four and one half per centj interest, and the Joint Stock Bank bonds pay five per cent. As there is excellent security be-j hind both and both are free from every kind of tax, except inheritance, they are now selling readily at a' premium.?Bulletin. BRYAN DISCUSSES RAILROAD PROBLEM Washington, Aug. 29.?William j Jennings Bryan today laid before the> house interstate commerce committee his dual plan of state and federal ownership of railroad lines as a solution of the railroad reorganization; problem. In doing so the former; secretary of state denounced private, ownership of the railways as indefensible and intolerable and characterized railway magnates as political corraptionists. "We have never tried government ownership," declared Mr. Bryan, referring to the railroad administration. "A subsidized newspaper never thinks to tell that the government' took over the railroads when the private owners could not run them. The government has been only in; temporary control and the roads iaj the hands of those who wanted to j see government ownership fail so, they could get the roads back." Mr. Bryan said the railroad mustj be considered as a monopoly and; "that no one can defend a 'private; monopoly unles sthe has so much! stock in it that it silences his con-j science." Mr. Bryan agreed with the funda-, mental proposition of the Plumb plan that the government should own the roads, and such nationalization he .asserted was better than priavte^ monopoly. As for political power under a na^ tionalization scheme, Mr. Bryan de-j clared the government could do no! worse than private ownership, for "mIImswIo Viovo in nolitics every day for the last 25 years." Sen-' ators and representatives, State offi-j cials and others have been elected! because of railroad influence he charged. ULTIMATUM DELIVERED TO WASHINGTON POLICE; . I Washington, Sept. 2.?Commis-^ sioners of the District of Columbia today told Washington policemen they woud havle to resign their un-j ion membership within five days or^ leave the force. The commissioners object to the union on the grounds that it is af-| filiated with the American Federa-, tion of Labor. Policemen have not yet decided what answer they will make to the .ivder. I ' Do You Coi Men who er , take pleasure splendid ass< Brothers' Shi fit; matched sleeve length Percales in th Men's Shirts / PARK kJL . I " Untwine 11UJJIU1K3 SUITS I 1 - Friday; Woolens MR)BRA Make Positi J.M Abl wmmmmmmmmmmmmmmmmmmmmmmmmmmammmmmmmm. m Like Good Ryright \yy \/j\y^Z 'icritf?r<?l ljoy wearing Gi i in selecting tl Drtment. Q Hei rts with tailored cuffs; full bodi . Shirts of Sill r 11 . i . le new ran coion / - - $ :er & i iTafloringl WD OVE tfade To Measu and Satur Shown in F Drapes. ZEALLE IN This One c re Engagem* ANDERSC Clothing Store Seville, South Ca\ mmm?mmmmmm?mmtmats:? n mmmmmmmmrnmm _ ' .;? Shirts??? , 1 . ':.Q ' ' '*. ood Shirts will lem from our . * . . 'v. V , re are Wilson I neckbands that es and proper c, Madras" and ! p8"61"81.00 to $10.00 . i ' IEESE __________________ ' ^~ n n. .. ... uompany RCOATS ire < i y SEPT. uay 5th-6th ull Length / CHARGE ){ Your ints >N CO. rolina s