Show Railroads Now Mow Sell Transportation I On Installment Installment- I Plan PlanA 1 I A plan whereby travelers can buy their rail tickets and pay other travel expenses on monthly installments installments install installments ments was announced here today by the representatives of local railroad rail railroad railroad road companies Emphasizing that the installment plan is entirely separate and distinct distinct dis dis- t from rom the credit card arran arrangement arrangement arrange arrange- g et e- e me ment nt of or the Rail Travel Credit Agency the representatives said that the new plan will be placed into into in- in ito to effect September 1 b by y r more than 50 major railroads in the east and west working in cooperation tion with local banks A traveler who wishes to use the plan merely goes to the ticket office office of- of fice face of any cooperating railway orto or to a travel agent and makes application application application g cation for credit in the amount of I the cost of the proposed trip v I If t the application is approved after a routine credit inquiry the traveler is notified that his ticket I is ready and he lie picks it up as asI v I through paying cash for it I Applications for fOl credit will be passed upon within 24 hours Arrangements may also be made to cover expenses of travel other than rail fare The railroad representatives pointed out that the lie use of the I B Travel Installment Plan requires no collateral only the signature of the individual No down payment Lt is necessary and the interest rate I charged will be the usual local Q R I bank rate for consumer credit loans The railroads believe that the largest use of the plan will be for or vacations although the service is intended to cover any form of railway railway rail rail- I way travel The plan pIon is limited to a minimum minimum minimum mini mini- mum sum of Leonard Erickson our local agent at Woods roods Cross states that the Farmers State B Bank will handle the loans here |