Salt Lake Telegram | 1936-05-01 | Page 9 | Bureau Backs Interest Bill

BUREAU BACKS INTEREST BILL The Utah State Farm Bureau federation has hils telegraphed Senators Senators Senators Sena Sena- tors William Villiam King and Elbert D. D Thomas urging their support of the Wheeler bill now in tho the senate which would continue interest rate on farm loans at 3 3 per per cent Tracy R. R Welling bureau secretary said Friday Support also was as asked for the Gillette bill now ow in 11 the house which has similar provisions Mr Welling VeIling said The law that cut the Interest rate to 3 per cent will expire June 30 If It the bill is not not- passed the In Interest Interest Interest In- In terest rate on farm mortgages will vill rise to 4 per percent cent Mr Welling said representing a loss Joss of at a year ear on an average crage to borrow borrow- ers The amount of at farm arm mortgages in Utah is proportionately large larg