Show AU AUTO TO DEALERS 0 H HIT IT INTEREST INTERESTS RATE GUT Utah automobile dealers Tuesday vigorously I denounced a bill now be be- considered by the judiciary committee rom com of ot the senate of the Utah leg legislature legis lature that would reduce legal legill rate fate of ot Interest on loans made in itt Utah Introduced by Senator Eldred M. M Royle Boyle D D. Utah the bill provIdes provided provides that rate of ot interest on loans should 1 bo boo reduced to 6 C per cent from 8 per cent and interest in on contracts contract from 12 to 8 per cent If the rates were cut the time time- payment automobile business in Utah Would suffer great hardships both Henry D D. D Moyle M lt f the Uta Utah State Automobile Automobile- Dealers Dealers' association and A. A B. B Irvine representative of ot several dealers declared during a public learing on the bill Tuesday A reduction In interest rates rates both said aid said would not allow dealers a 3 sufficient suf sur margin to offset bad debts debic Small country banks would be handicapped if It the measure bec becomes mes law aw E. E H. H Street Streit of or the Southern Utah Banker Bankers Jankers' a. a association told the commit tee ce when they negotiated loans from larg larger arger r banks bank |