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Show MARCUS ASKS R. F. C. WAIVE LOAII INTEREST Salt Lake Mayor on Eastern Trip Proposes Flve-Year Relief for Cities EUmlnation ot Interest for the first five years on R. F. C. loans made to municipal corporations on' self-liquidating projecta appears likely. Mayor Louis Marcus said Monday upon his return from an eaatern business trip. While in the east Mayor Marcus conferred with Wilson McCarthy. Salt Lake attorney and a director of the Reconstruction Finance corporation. The mayor also conferred with Senator Sena-tor Reed Smoot and Senator William H. King of Utah. "Mr. McCarthy indicated there la a possibility of reducing the Interest rate on R. F. C funda from IS and per cent to 4 per cent,' said Mayor Marcus. It was at that point Mayor Marcus suggested to the R. F. C. official that interest be eliminated altogether for the first five years on loana to municipal munici-pal corporations. The suggestion was taken favorably. Mayor Marcus aaid. "Senator King prom lead to Introduce Intro-duce a bill In congress with would set aside Argenta and Mill D reservoir reser-voir sites In Big Cottonwood permanently perma-nently for the benefit of Salt Lake," aaid the mayor. This would relieve the city of the necessity of renewing periodically its filings on the sitae with the Interior ' and forestry departments. Speaking ot business conditions. Mayor Marcus said there la a growing sentiment In eaatern atatea In favor ot legislation which would remove possibilities ot recovering deficiency judgments on mortgages. In other 7 words, explained the mayor, if a morV gage holder foreclosed and failed to ' recover from the aale ot the property the full amount of his loan he would be estopped from taking a deficiency Judgment to compensate for the remainder re-mainder of the loan. |