Salt Lake Tribune | 1913-10-07 | Page 7 | [Illegible] Loan Concern Established Here

101 CONCERN HUSHED HERE Is to Assist Farmers ockmen on Amortization Amorti-zation Plan, ners & Drovers company of tlio luteal llrtnnclal Iiiutilu-tubllhjd Iiiutilu-tubllhjd in tin Intermoun-. Intermoun-. It jtir-o.-H to finance ttlo mortB.mcfl on the aniortl--vhlcli 1ms boon prevalent In id I-Yhiico for many yearn, s new to America. Amort I- reduction or extinction of sinking fund. , the borrowers can obtain unnlnpr for a porlcd of sev-in, sev-in, subject to tho atnortlza-c atnortlza-c The Farmer- &. Drovers II extend Its loans up to a limit. The advantage of the to bo a cheaper rate of long-l, long-l, a factor Important to the cattlcmnn. ors & Drovers company has irated in Delaware, but Salt III be lis huHlnoHu hcadquar-rlll hcadquar-rlll do business In Utah, una and Washington. Its apltal la $1,000,000. Among are Governor William Spry. 1 Smoot. V. .1. Ilalloran of -Judge Loan & Trust com-' com-' S. McC'onilok, president of : Co. -Mr -McCornlck Is also of the company. Oovornor daho and former Governm rrls of iMontana arc also dins di-ns of i ho company will be lirongh the regular banking ii tho territory In which" It Oil leperatc. It alms to co-operate rath-HEjin rath-HEjin compote with tho hankers. The I HrporatorH declare that almost every !flflEr sees the need of -such a mortgage joaii company that Is financially able IfitBftkc farm and cattle loans that few " Wmi can kupp In large amounts on ac-Etof ac-Etof the desirability of keeping their :Bg liquid. The company propones to Hjcodern methods of financing with jiHkcIent capital to convey security to , lJK.purcliaser of Its guaranteed mort- ry'iKu prospectus to bankers tho Farm-v Farm-v mm Drovers company declares that the .'PBJtry Is calling for a readjustment of VHii credits on a fairer and more PJtablo bads to the land owner. It aPj"that this problem "nan a. very dl-liK.bcarlng dl-liK.bcarlng on tho cost of food." IHk offices of the company will bo Io-'Bd Io-'Bd in the McCornlclc building, while i'Efftatcr part of Its loan and mort- k vHe business will bo handled by 'banker ' "'fponileiits throughout the territory k 'ijSiiich It will operate.