Show 1 Banker Tells Of Loans to Agriculture j i Utah banks were serving farmers farmers far far- mers mars and ranchers with more credit than any institutional group of lenders on January J 1 of this year yeat according to Glen M M. Carlson manager of the First Security flank Dank In Moab who represents the Utah Bankers Bankers Bank Bank- ers association as Grand County County Coun ty Key Banker During 1958 the states state's banks maintained their leadership In n agricultural credit services Utah banks held helda a slightly higher proportion of ot the total farm production credit credit credit cre cre- dit than a R year previous Based on the eighteenth annual annual annual an an- nual farm lending summary by bythe bythe bythe the Agricultural Commission of the American Bankers association tion Mr Carlson reported that at the beginning of the year Car Utah bankers were helping farmers farmers far far- mers morn and ranchers with in loans 13 13 per cent more than a n year ear previous The total included In Jn production production production tion loans and in agricultural ag ng- ag- ag mortgages On the same date in agricultural agricultural agri agri- cultural loans were held by Insurance Insurance Insurance In In- companies by Federal Land Banks by Production Credit associations associations asso asso- and in non- non real estate loans plus in real loans by the Farmers Home Administration More than 70 per cent of the production credit extended by lending Institutions in institutions institutions In- In to Utah farmers and ranchers came from banks Mr Carlson said that more and more the banks in Utah find that farmers and ranchers need a n new type typo of credit to help finance the rapid increase in capital requirements To m me met t this changing ne need d banks in n Utah now make larger farm loans and an increasing amount of agricultural credit is on an term Intermediate repayment basis Intermediate tern term loans arci are arc most frequently needed t for r machinery machinery ma mn chinery and equipment livestock livestock livestock live live- stock soil soU Improvements additional additional additional addi addi- land an and refinancing term short-term notes Over one half of all real estate credit is used to fiance those intermediate intermediate- type capital expenses |