An article from the Sunday, January 31, 1926 Des Moines Capital, entitled “Says Federal Land Bank Has Followed Rule: D.P. Hogan States Omaha Bank Carries No Real Estate: Has Ample Funds”. The article then quotes a telegram from Dennis P. Hogan, President of the Federal Land Bank of Omaha, in which Hogan explains that the front page article of the Thursday Capital did the bank a great injustice by implying that the policy affected Federal Land Banks and Joint Stock Land Banks equally. Hogan explains that not only has the Federal Land Bank of Omaha always charged off 20% of real estate, it has been charging off every foreclosed piece of real estate it has ever acquired and does not, therefore, even have any real estate to be affected. The Bank, Hogan continues, has a Surplus and Profit of $1,844,000, more than $50000 more than required. The Bonds of the Federal Land Bank of Omaha are supplying a steady flow of funds as the Bank has easily sold all of its bonds when advertised. Hogan concludes by saying that he has been receiving a lot of inquiries from confused farmers throughout the state, who thought that the ruling would not affect the Federal Land Bank of Omaha, and that he sincerely hopes that the Des Moines Capital will correct the misleading statements from the Thursday article.
Institution: National Archives and Records Administration
Collection Name: RG 103, Entry 1052
Box & Folder: b. 6, f. 1
Tags: 1920's, Calvin Coolidge, Farming, Federal Farm Loan Board, Finance, Joint Stock Land Banks, Land Banks, West North Central