Salt Lake Telegram | 1934-07-30 | Page 13 | R F C Will Grant Loans to Miners

R F C G Will GRANT LOANS TO MINERS Adequate Security Required to Secure Advances Copies of the newly ac accepted code of ol the Reconstruction Finance corporation cor cor- providing money for loans on mining property were received Monday y at the offices o of ot the Utah chapter of the American Mining congress congress con con- gress in the Kearns building A. A G. G Mackenzie cx executive secretary an an- Money is available for to those having adequate security based on mineral acreage to recognized d and established corporations partnerships partner partner- ships or individuals engaged in min min- lag Ing ng or smelting the explanatory papers papers pa pa- I pers said A time limit of live five years has las b been en set by law Jaw aw for lor each loan Joan with exceptions made upon decision of the R. R F. F C. C Loans will not be granted for lor payment pay pay- ment of indebtedness promotion expenditures ex cx and only partly for payment pay ment of taxes Applicants must furher fur fur- thor her prove themselves owners of the property or that they are in iii possession posses posses- sion ion of the owners owner's permission ion to obain ob ob- tam ain ln the loan Joan Interest will not exceed cx ex 6 per cent