The Algona Upper Des Moines from Algona, Iowa on March 7, 1967 · Page 19
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The Algona Upper Des Moines from Algona, Iowa · Page 19

Publication:
Location:
Algona, Iowa
Issue Date:
Tuesday, March 7, 1967
Page:
Page 19
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16-Algona, (la.) Upper DM MobtM Tuesday, March 7, 1967 191Y . There was a war on. Dad was too old to go. I was too young. Congress had passed a law creating the Federal Land Banks to help farmers and ranchers pay for their land. 1918 Dad bought a quarter with the help of a Federal Land Bank loan, obtained through the local Land Bank association. 1922- • • Hazel and I got married. A quarter wasn't enough to support two families, so Dad and I went to the local Land Bank man again—we got another loan and bought more land. 1927.. Prices were sky high—except for agricultural products. We got by due to the small payments and low interest on our loans. 1931- .. Things were really tough—but we were managing somehow. And we were raising a fine family—Tom, the oldest, and two girls. 1933. }.. .The great depression—business in a turmoil, banks closing. We went to the local Land Bank association and arranged to refinance our loan to cut the payments down. Many people lost their places, but the Land Bank stuck by us and other folks who had Land Bank loans. 1938. >.. .Things looked better and I bought a top bull. Some of the neighbors said he was too expensive—but I got the best calves I'd ever had. 1936... and dust—with the outlook pretty dreary. But Dad and I decided if we were to stay in business we would need more land, so we bought the adjoining place with the help of a Land Bank loan. "We Won't Forget the Part the Land Bank Played!" 1940s • • War in Europe. I bought some high quality heifers—neighbors said I'd paid too much, but I noticed they were looking for better stock. • • -Tom was in the army, one of the girls was home, the other in college. Dad passed away last year. 1947. . Tom was home and married, with a place of his own. Yes, there was another Land Bank loan in the family. V J 1955 ••• That original quarter had turned into a considerably larger unit. We built a new house and renovated some pasture land that year. j/ • • • Bought new haying equipment and built a new cattle barn. Modern agriculture takes a lot of equipment and a lot of money. Over the years the Land Bank has provided the money to buy land, to improve it, buy equipment—to keep abreast of the newest developments. - • • Hazel and I have had a good life—we raised a fine family—we have six wonderful grandchildren— and we own a good place. The Federal Land Bank and the local Land Bank association certainly played an important part in our success. This Is the 50^/lnniversary of the FEDERAL LAND BANK Established in 1917... Owned by the People it Serves. Self-Supporting...Operated without Government Funds. FEDERAL LAND BANK ASS'N of ALGONA (South of Penney's) E. H. HUTCHINS, Mgr.; Helen Haas, Keith Hopp, Assistants DIRECTORS Hugh Black, Algona, President; Robert Deal, Algonq/Leander Menke, Sweq City Marvin Junkermeier, Elmore, Minn.; Donald Usher, Ottosen

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