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Show Directors Of NFLA Hold Meeting Here SIX COUNTY GROUPS AT TUESDAY SESSION Interest Rates And Cost Reductions Are Discussed Here Proposals that would assure farmers far-mers continued low interest rates on their mortgages with the Federal Fed-eral Land Bank, and at the same time would help the land bank system cut operating costs, were discussed in Preston Tuesday by the directors of 7 National Farm Loan associations in Franklin, Oneida, Bannock, Bear Lake, Caribou Cari-bou and Powei" counties of Idaho. The meeting was held in the County Coun-ty Court House with W. M. Rees, district manager of the Association Service Department) of the Federal Land Bank of Spokane, and Attorney Attor-ney F. A. Knutsen, also of the bank, both from Spokane, participating. Director Neil Boyle of Blackfoot, Idaho, addressed the assembly. The associations representative representa-tive are composed of approxi-mstely approxi-mstely 2500 farmers who have Federal Land Bank loans. These associations are stockholders stock-holders in the Spokane Bank. Among the subjects discusseo were the possibility of government guarantee of land bank bonds; a change in the structure of National Nation-al Farm Loan associations from stock 'cooperatives 'to membership cooperatives, and a safe and workable work-able mechanism for the adjustment of excessive mortgage indebtedness in appropriate cases, it was reported re-ported by Clifford Warr, secretary and treasurer of the Fanklin county associations. "In the 23 years that the land bank system has been in operation," Secretary Warr said, "many changes have taken ta-ken place in the system, in farming and in the organization of cooperative associations of all kincts. In light of their experience ex-perience during these ,23 years, members have made many suggestions sug-gestions for changes in the system. This conference is one of many being held throughout the Northwest by the Spokane oank to obtain the reaction of 'ts borrowers and stockholders to some of the changes most generally recommended. "These conferences are part of effort of the land bank, to de- pnranze its operations to trans- as much) responsibility as pos-. pos-. sible into the hands of the mem-era mem-era of the system, and to consult 'se members whenever important Ganges are being considered." Besides discussing the problems 'he land bank system the bank's "wn servicing policy was reviewed. n's policy, Warr said, is designed 0 continue desei 'ving borrowers their farms; to reduce farm cu .a. y' and t0 Preserve the se-ythe se-ythe fai'm with its soil and "s 'mprovements. "Our aim," Warr explained, "is m'ike farm mortgage credit pro-'e pro-'e farm ownership the well-be-of the farm family, and at the e time protect the community a the nation from the loss of its man resources through tenancy. th4 'he loss of its soil resources rugh erosion or other depletion. |