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Show "mm mm iGlHEMES President McKay of Farm Bureau Tells Members of Fraudulent Pleas. Special to The Tribune. OODF.X, Oct. I'J. As a result of the numerous attempts to interest farmeis of this and other counties of t he state in private fa I'm loan associations . since the passage of the federal farm loan act. D. I'. M'-Kay, president of the Weber County f-'ann bureau, bus issued a warning warn-ing against fa i rners taki n,r up with such institution-;. In somr, instances, according accord-ing to the fnrn; bureau official, the association as-sociation promoters actually misrepresent conditions. "Smooth-tongued agents go about the country with various kinds of plausible stories." said Mr. McKay today, "the most common of which is that the farm Ion n board has promised them and their organization a charter as a joint siock land bank Immediately. They will be , able to loan money under such charter, t he agent glibly informs the farmer, months ahead of the government itself. "I want to warn farmers not to he deceived de-ceived in tins matter. Reliable information informa-tion has come to the bureau that no , joint stock land bank will be given a I charter until every loan association organized or-ganized by the farmers themselves has been takn care of, which likely is to be two years or more. This is to encourage the farmers to handle their own business and to obtain the profit therefrom. "There is one other thing also: The farm loan board has issued a warning to farmers to take no stock--in any loan association as-sociation which permits any of the money coming into its organization to he used for promotion purposes. The board in such cases will not issue a charter under any circumstances." |