Show Intricate Problem Presented Association Finding a a. Voa way out of financial surrounding the tho wool m mrk market rk as aa It affected the thc of or the thi west presented a complicated problem lcm lem according to Dr F F. R. R Marshall Marshal secretary of ot the tho National association On suggestion sUGg of Frank Fran FrankJ I J J. J Hagenbarth president of or the association association asso asso- elation the plan of ot using warehouse receipts was worked out and presented d da a few days ago This plan has been given Gf publicity but It Is the desire of or Mr Marshall that it it be reiterated as often otten as possible that tho the Intermountain tam tain may heed It and If in need of a loan on his wool clip at le least leist st he can give the plan a trial Briefly the thc plan 1 provides provides' that tho the place his wool In a 1 warehouse warehouse ware ware- house where he can cnn get a negotiable receipt This receipt he hc can present to his bank and secure secure-a a loan oan If th bank banle Is not overloaded and the bank It is understood can an In turn secure credit from the tIme federal reserve bank on n this paper If IC a a. bank is not a member member mem mem- ber of or the federal reserve resene system It Itma ma may turn such paper over to a member member mem mem- ber her bank to be rediscounted accor accordIng accord accord- In Ing to the belief beller of Mr tr Marshall This whole plan which now no promises promIses promIses prom prom- to become quite popular all over the west Is distinctly a a. western Idea evolved by western men to relieve a western situation that was becoming serious because of the tho of ot eastern east east- ern era banks to finance the wool clip says Mr Ir Marshall It is the first time In tho the his history tor of the tho Indu In Industry In- In du tr that such a 1 plan has ever been suggested an and the results will wUl be keenly keenly keen keen- I ly watched If found feasible In this industry It mo may be tried In other industries In Industries In- In whoa when occasion arises according accordIng accord accord- ing to Mr 1 Marshall 13 Ho lIe anticipates the plan will work out to the tho entire satisfaction of or all concerned but he does not expect that it will materialize Into a going proposition for tor nt at least St ten days Investigations disclose says sas Mr Marshall that the over the wool market and the financial situation situation situ situ- affecting It generally wa was for tor forthe forthe the othor other fellow tellow Ho has hns been unable to find an any who has been seriously pinched for tor lack of ot fun funds S. S Continued on Pa Pare Pace e 16 FINANCING OF WOOL EI CLIP BIG PROBLEM Continued From Page 1 1 Part 2 If tho the plan is Ia found to be workable and agreeable he says he ho expects tho the state association to tak take It up and vigorously present It to the n. n I |