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Show FARM BONDS SELL ABOVE PAR C. G. Salisbury, secretary-treasurer of the Springville national farm loan association of Springville, Spring-ville, Utah recently received word from the Governor of the Farm ! Credit Administration, Wm. I. Myers, telling him of the ready reception which farmers and their creditors are giving to the bonds of the Federal Farm Mortgage corporation which are now being tendered by the Federal Land Bank of Berkeley in place of cash settlement of farmers' debts. "These bonds have been selling in the large markets at a little above par, indicating a ready market for them. Just a week after the banks began using bonds instead of cash, the first bonds to be sold on the New York market mar-ket were purchased at 100-::'i. We anticpated these bonds wheh bear 3 'A percent interest per anum would sell at par or above at the time we set the interest rate. for government bonds maturing in 1941, bearing the same rate were selling above par." Mr. Myers pointed out that these bonds were not only exempt from local, state and federal taxation with the exception of surtaxes, inheritance and gift taxes, but that they are as readily salable as government securities. He said they are being quoted in the metropolitan papers but if such quotations are not available readily to farmers that they will be given the quotations if they will write to the Federal land bank of their district. |