Atlanta Daily World

Insurance Company Makes Farm Owner Loan To North Carolinian

NEWTON, N.C.—The North Carolina Mutual Life Insurance company of Durham recently became the first Negro lender in the state to make federally issued farm loans when C. C. Spaulding Jr., assistant treasurer of the company presented a check for $2,800 to Ted Anthony, Catawba county farmer.

Present to witness the transaction were Ralph W. Sharpe, county supervisor of the Farmers Home Administration in Catawba and Lincoln counties; and Ralph W. Tate, FHA farm management specialist for North Carolina.

Previously the N.C. Mutual had become the second Negro lender in the nation when it made similar loans last April in Kingstree, S.C., at a twin ceremony with Ulysses Fulmore and Walter McFadden receiving checks from Mr. Spaulding for the purpose of buying their own farms. The company has now invested more than $18,000 in the Farmers Home administration insured mortgage loans program and plans to invest approximately $2,000 additional in the near future.

The Supreme Liberty Life Insurance company of Chicago made the first loan of this type in the United States last February in Cassapolis, Mich., which attracted nation-wide attention.

Mr. and Mrs. Anthony will buy 120 acres of land with the loan funds to increase their farming enterprises. They already own a modest 8-acre farm about 10 miles from Newton in Catawba county. There are two boys and a girl in the family. Four years ago the Anthonys were sharecropping on the farm of E.B. Goodin, white planter, who helped Anthony get started toward owning a farm of his own.