| Show J HERE TO DISCUSS PROBLEMS OF WOOL GROWERS 1 i r I d v r F 1 ii i Y n nI I iW s t y 3 I x 6 4 t E ii 4 4 t y Y s p rI 1 r 1 Y Y s sF F U. U i p DWIGHT P P. P N President Texas Federal Intermediate Credit bank to address wool growers grow growers rs r UW R R. R C POLLOCK POLLOCK General manager National Livestock an and Meaty Meat board says meat prices reasonable abie 4 F. F F 1 M. M BUTCHER UTCHER President Wichita Federal inte Intermediate Credit bank here for wool growers growers' meet Credit Talk Is s' s Feature Of National Meet ee Agenda en a Federal Intermediate Credit Bank Head Will Address Wool Growers Credit An address by Dwight P P. president of th the e Federal Intermediate Credit bank of Houston Texas Applying final touches to the reaching far-reaching program of the three three- convention of the National Wool Growers association association- day opening I Wednesday in Salt Lake City the program committee Tuesday wrote down that inscription in large letters For finances of the sheep industry industry indus indus- try being what they are and lending lending lending lend lend- ing ability of local banks being what it t is the address is is' viewed by national officers and arriving delegates as perhaps the most important important important im im- on the schedule of the big meeting In little less than 15 years the federal intermediate banking system system system tem has lent the sheep in industry of the west the imposing sum sum- of 36 36 Accompanied by F. F M M. Butcher president of the Federal Intermediate ate bank at Wichita Kan Mr reached the city Tuesday with a delegation of 25 Texans Other groups from 15 15 western states poured into into in the th Hotel H tel Utah where will sU succeed the two two-d two day s of the Utah State Wool Growers' Growers tion ZOO COO Expected J At least delegates are expected expected expected ex ex- at the national meeting and it was believed most of the delegates delegates delegates dele dele- gates to the state convention would remain for the national sessions to tobe tobe tobe be presided over by President Roscoe Roscoe Roscoe Ros- Ros coe C. C R Rich ch of Burley Idaho Mr took a calmer view of wool and lamb production Continued on Page PaJe Twelve Column Five TALK ON CREDIT TO BE FEATURE Continued from Page One than most of ot the speakers ers at the state convention Im not so familiar with northwestern northwestern north north- western conditions but in my state which possesses the he largest sheep population of any in the Union physical conditions are good and the he industry is basically sound he said Capital Cited The 12 banks in the intermediate credit system he explained have a combined capital and surplus of have made total loans of and in outstanding collateral liabilities-collateral collateral u r e s shave shave slave s- s have lave secured d by notes of farmers and stockmen We finance with borrowed money he went on We sell our debentures in the open market to insurance companies commercial banks janks and other investors A great amount is held in Salt Lake City Throughout our dealings we re require require require re- re quire the best of security He termed the intermediate system tern tem em one of the strongest sustaining sustaining sustain- sustain ing ng influences of the sheep indus indus- try Rates Held Reasonable The intermediate banks Mr dan pursued have since 1923 provided provided pro pro- vided a permanent source of discount discount dis dis- dis count for general agricultural and livestock paper at reasonable rates of interest This source of credit is always available to the if he can prove that his ranching methods are sound the banker said The Th intermedIate in intermediate in- in banks are always there in good times and bad I r 1 consider it one of the mightiest sustaining factors for the sheep industry industry in industry in- in as well as other agricultural businesses because in local commercial commercial com corn mercial banks there is never available available available avail avail- able eno enough gh funds to furnish the needed credit It is strictly an agricultural agricultural agricultural agri agri- cultural banking system Topic Is Given Mr announced that that in hIs address set for Thursday morning mornIng morning morn morn- ing he would deliver a resume of the general subject of credit with particular reference to the sheep ind industry in- in d try reminding the wool growers that the intermediate banks were created solely to provide agriculture with better financial service than it had ever before enjoyed In 15 years he said pridefully the intermediate system has handled handled han han- died in agricultural paper paper With Mr and Mr Butcher ButchI Butch Butch- er came a delegation of 25 wool growers from all parts of the Texas sheep rangeland I Evils Were Vere Discussed Gathering early Wednesday the I delegates from outside states will find that the Utah convention aready al already already al- al ready has paid respects to many of the difficulties and al alleged ged economic and political evils through which the entire wool ind industry try claims it is being fleeced Officers of the national association association association tion arriving early to speak before the state convention have expressed opinions identical with Utah producers producers producers pro pro- against the proposed tariff reduction in the coming United States-British States trade pact against the proposed 15 per cent increase in general freight rates against present present present pres pres- ent taxes in favor of greater state and federal efforts ts toward eradication eradication eradication tion of predatory animals in favor of exclusion of big game from sheep forage land and in favor of sharp correction of many federal and state laws Prices to Be Studied Price of live lambs alleged by bythe bythe bythe the to be far too low in comparison with dressed lamb prices will receive attention of the national organization as the delegates delegates delegates dele dele- gates hear an address Thursday from Thomas A. A Connors of Chicago Chicago Chicago Chi Chi- cago head meat buyer for one of the nations nation's largest chain store Ann Kingsley cooking demonstrator tor for the National Livestock and Meat board of Chicago will demonstrate demonstrate demonstrate demon demon- strate cooking of lamb in the convention convention convention con con- room Wednesday Fridays Friday's session will be devoted to discussion of legislation |
