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Show FARM PRODUCTION CREOIT ASSN. BOON TO UTAH LIVESTOCK IN The Utah Farm Produotion Credit Association, Edwin K. Winder, Secretary-Treasurer, and the Utah Livestock Production Credit Association, George E. Collard, Secretary-Treasurer, have applications for a total of $262,604.00, as of May 29, 1934, according to reports of these resident re-sident managers. These loans are to assist farmers far-mers and livestock men in Utah and the Arizona Strip north of the Colorado River, in the raising, rais-ing, breeding and jfattening of livestock; as' units fostered by the Farm Credit Administration, these Production Credit Associations Associa-tions take their place as a part of a permanent system of agricultural agricul-tural credit. Since last 'fall when the first of these farmer-livestock-managed credit cooperatives was set up in Illinois, the movement has spread throughout the entire United States. There are now more than 650 similar associations, associa-tions, of which Utah Livestook Prtiduotion Credit Association and Utah Farm Production Credit Cred-it Association serve this State and the northwestern portion of the State of Arizona. These Associations are capitalized capital-ized for $1,500,000 with a lending lend-ing capacity of approximately $7,-500,000. $7,-500,000. The Production Credit Corporation of Berkley has subscribed sub-scribed for $1,125,000 of the capital cap-ital stock. Funds obtained by the Association by the purchase of capital stock are invested in government gov-ernment bonds or similar high-grade high-grade securities and placed with the Federal Intermediate Credit Bank of Berkeley also a unit of the Farm Credit Administration for this district as additional security for the notes of farmers and livestock men who are members mem-bers of either (Association and whose notes are discounted by the Federal Intermediate Credit Bank of Berkeley, gers, though written for one year, may run for a longer period on renewals re-newals if the security remains adequate. ad-equate. The rate of interest has been reduced recently from 6 to 5, said rate being determined by the rediscount rate of the Federal Fed-eral Intermediate Credit Bank. The Washington County News understands that by communicating communicat-ing with Mr. Winder, where the application is less than $5,000.00 or Mr. Collard where the application applica-tion is in excess of $5,000.00, prospective borrowers in any part of the State and .Arizona Strip will be advised as to the nearest qualified agent to receive their applications. If a county agent is available, he will be glad to assist. as-sist. Directors of. the Utah Farm Production 'Association are T. A. Butterfield, President, of River-ton; River-ton; Harry A. Neilsen, Vice-President, .Spanish Fork; Abe Hansen, Richfield; Saul Hyer, Lewiston; Will L. Hoyt, Nephi; W. W. Evans, Ev-ans, Layton; George F. Stallings, Eden; W. E. Hammond, Ameri-can Ameri-can Fork; Lawrence Christensen, Delta. Directors of the Utah fc. Production Credit k;, : ! are: Ephraira Bergeson, ' ! dent, Cornish; S. Jf. fe: Vice-President, Salima; Sji IBroadbent, Salt Lake Charles Redd, La Sal; 1 Adams, Layton; W. B. I: 1 St. George; Hiram Nebs; J Laketown; R. E. Allen, Pr; : I a |