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Show RESERVE BOARD HEAD VISITS BANKERS HERE W. P. G. Harding of War Finance Corporation Interested In-terested in Stockraisers. W. P. G. Harding, governor of the federal reserve board at Washington, as well as executive head of the war finance fi-nance corpora tiun, arrived In Salt Lake yesterday afternoon for the purpose of taking up with local banking interests Questions relating to the livestock Industry In-dustry and Its encouragement. Mr. Harding came direct from Washington, and will leave this morning for the Pacific Pa-cific coast. "The war finance corporation has a . capital of $500,000,000," said Mr. Harding. Hard-ing. "It is separate and apart from the federal reserve system, although I happen hap-pen to be at the head of both. At the suggestion of Herbert Hoover, nnd the department of agriculture as well, I came to Salt Lake to discuss with local bankers bank-ers the advisability of extending federal aid to stockraisers in this section of the country. "The war finance corporation was established es-tablished by the government to extend aid to essential industries which are unable un-able to obtain ready financial assistance from local sources. We contemplated establishing es-tablishing a district office in Salt Lake to look after the needs of this part of the country in this regard, but the local people assure me that they have plenty of money and are well able to tako care of the needs of the livestock growers in the territory surrounding Salt Lake. "Mr. Hoover and the department of agriculture fear there will be a shortage of cows and steers, and wo aro co-operating with loans to avoid such a contingency. contin-gency. We have found that in many localities lo-calities bankers are unwilling to make loans to breeders on the security of their' cattle, because it ties up the money for at least two years, since It takes that length of time to grow an animal to marketable mar-ketable size." ' |