OCR Text |
Show FEDERAL FEDIRAL : LAND BANK LOA'I.S LOAI.S LOAIS LOANS BANKLOANS ! ' . ON O'l Ol ! ' . INCREASELoans INCREASE INCREASI INCREASELoans : Loans made by the federal federalland land banks m in the 194G 1946 fiscalyear fiscalyear year indicate mdlcate an hncreasmg iincreasing [ increasing de demand demand mand for farm mortgage credit creditWillard creditIWlIIard IWlIIard Willard D Elh Ellis " , president of Ithe ofIthe the ofthe Federal Land Bank of Berk Berkeley Berkeley Berkeley eley announced this week on II11s This onII11s onThis onhis return from a conference of ofIPresldents ofpresidents ofpresidents presidents of the 12 federal land IPresldents ( landIbanks landbanks banks of the country held m in inWashington mWashmgton Washmgton Washington DC D C Dollar DoIIar volume volumeof of bankslasct bankslaset loans made by the land banks I laset $135000000the 135000000the 000the year ) ear totaled $135000000 135000000 $135 135 $ 000 000 the largest amount made in any year anyyear s nee nce 1936 Ellis reported reportedOf reported10f 10f Of this total almost $13000000 13000000 $13 13 $ 000 000 000was 000was was loaned in m this district dlstnct which whichcovers whichcovers covers the th " states of Cal forma fornia Arizona Anzona Nevada and UtahLand UtahLand Utah UtahLand Land bank piesidents plesldents presidents were wereunammous wereunanimous wereunanimous unammous unanimous thatthe in the opl op opinion mon that the totheir land banks should hold to their longtime policy poltcy of basing basmg their thelr long tIme loans on normal agncul agncultural tural value Loans fitted to the long thelong theland time earning earnmg power of the land help to stem inflat lI1fIat on m in land inland mland values Ellis said and give the givethe borrower a reasonable reasonablechance reasonablechance I chance of meeting meetmg loan pay payments payments paymcnts ments in m the event ot of a drop m in farm infarm mfarm commodity prices pnces |