Byrne v. Federal Land Bank of St. Paul

The Federal Land Bank o.f St. Paul was chartered under the provisions of the Federal Farm Loan Act and is engaged in the business of loaning money to farmers under the provisions of said act. The same act makes provision for the organization of other separate and distinct organizations known as Farm Loan Associations and in July 1918 the Nortonville National Farm Loan Association was chartered by the Farm Loan Board, under the provisions of the same act. Such farm loan association is empowered to issue shares of stock at a par-value of $5.00 each and a borrower in territory allotted to a farm…