Three Per Cent Dividend Told "If you want something, do il for yourselves," Watkins M Abbitt. Fourth District Congressman, told a large group of stockholders of the Farmville Production Credit As sociation and National Farm Loan Association of Fa mville Saturday at the annual stockholders meeting here. His remarks were made in piaise of the work of the organiza tion in providing money and credit for the farmers of thi area since 1934. In a talk that preceded Abbitt. We S. Green, chaiiman of ihe Farm Credit Board, described local con ditions that went hand-in-glove with the address made by the Congress man. Green graphically described the plight of farmers as facing an in tolerable situation. He coined a phrase "displaced farmers” as j those who have been run out of busi ness. He said there are some to bacco farmer that couldn't make a living even if the pirce of tdbacco was raised to SI per pound. In spite of the foreboding picture painted by Abbitt and Green, fav orable financial reports were given : to the members. Directors Elected W W. Vaughan made a director’s r< port for the board of directors of the National Farm Association. He pointed out that the NFLA made 47 i loans during the past year for a total of $448,600 The year 1956 was asknowledged as the "best, year in the history of the association in Farmville." Total assets for the NFLA rose from $93,444 in 1955 to $109,052 for 1936. The association showed a net operating income of S3.711. W. G. Harvie, of Amelia, was re-elected to the board of directors of the NFLA. Directors re-elected to the PCA were IL E. Boswell, Jr., of Burke ville, and B. M. Wailes. of Sweet Briar. W. W. Vaughan, who was chosen to fill the term of the late Frank Baber, was also electrd to continue to serve on the board of directors of the PCA H. E. Boswell. Jr., made the di rector's report for the PCA and he pointed out that the loan committee had to meet every week to process the applications that came into the office during 1956. He reported 686 loans made in 1956 for a total amount of $2,418,368. In view of the favorable financial statement, he announced a three per cent dividend for stockholders. In commenting on the reports. As sociation President G. W Palmer, of Green'Bay, noted that it is a fine compliment to the farmers of the area that loans totaling over olie million dollars a year were being made through the organization and there were only scattered cases of the money not being repaid cm time ((Continued on page 7)

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