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Show Berkeley Bankers Visit Utah South Salt Lake News Agricultural Tour of Northern Utah Serving The Center Of Industry Entered as Second Class matter at the Post Office at Salt Lake City, Utah, under the act of March 3, 1879. Published Weekly. Subscription Rate 3106 Thursday, June 18, 1970 SOUTH SALT LAKE NEWS Page 2 $2.00 per year South Main Street P.O. Box 11426, Phone 484-144- 1 Salt Lake City, Utah Publisher Editor Photographer Earl Alsop Marilyn Barber Margo Jones The staff of the South Salt Lake News would like to invite contribu- tions for publication. Items such as club news, upcoming marriages, and neighborhood events will be gladly published. Saws Sharpened Fishing Worms THE SAW SHOP 2305 SOUTH MAIN STREET CG INTERMOUNTAIN STAMP CO. EVERYTHING FOR YOUR MARKING NEEDS RUBBER STAMPS MACHINE ENGRAVING NOTARY SEALS CORPORATE SEALS BRONZE MARKERS PRINTING INDUSTRIAL MARKING PRODUCTS 2505 South West Temple Phone 484-883- fit m Rabbits and Rabbit Pens IN-STA-- Utah, Arizona, California and Nevada, Mr. Beyers said. The Federal Land Bank reported total assets of more than $543 million at the end of 1969. During that year, the bank introduced the variable interest rate plan w'hich means that changes in the cost of money obtained by the bank for makThe seven directors who will ing farm mortgage loans will be reflected in the rate of inattend the Utah meetings govern the farm credit systems terest charged farmers and eleventh district which includes ranchers. Over the term of any Utah, Arizona, Nevada, Calgiven loan, the interest rate ifornia and Hawaii. may increase or decrease perThe rate is guaranThe Federal Land Bank of iodically. for three years however, teed, Berkeley, one of three separate, borrowers in their to assist non-probanks making up financial planning. the Farm Credit Banks of Another of the three specialBerkeley system, presently has ized lending institutions of the more than 2,300 loans outstandCredit Banks of Berkeley Farm ing in Utah. These Utah loans the is Federal Intermediate total more than $34 million, according to Mr. Herbert Credit Bank which discounts Beyers of Salt Lake City who individual farmers and ranchis Chairman of the Board of ers notes for local production Farm Credit Banks of Berke- credit associations. This bank ley. The Federal Land Bank also makes direct loans to the Profarmer and rancher-owne- d makes long-terloans to farmAssociations. duction Credit ers through Federal Land Bank Associations of which there are The Federal Intermediate five in Utah, Mr. Beyers said. Credit Bank of Berkeley reported assets of more than Located in Logan, T remon$247 million at the end of last ton, Salt Lake City, Provo and year. Richfield, Utah's Land Bank The third area of activity of Associations accounted for the farmer-owne- d Farm Credit more than $2.9 million in loans Banks of Berkeley is the Bank from the Federal Land Bank of for Cooperatives. There are 13 Berkeley in 1969. Banks for Cooperatives in the United States, one in each of Each association is a cooperative, completely owned by 12 districts and the Central its stockholder borrowers. Bank for Cooperatives in There are 35 such farmer Washington, D.C., which parrancher credit associations in ticipates in larger loans. Representatives of fanners and ranchers from all over Utah will attend meetings on agricultural credit scheduled Tuesday at the Hotel Utah. Governor Jaenke will speak at a dinner Tuesday evening. Board meetings will be held Wednesday. The Berkeley Bank for Cooperatives loan volume reached a new high of $250 million at the end of 1969, up $30 million from 1968 and double the 1964 level. Berkeley Bank for Cooperatives loan advances to Utah cooperatives exceeded $12 million in 1969. Each of the three Farm Credit banks is owned by its borrowers who become stockholders. Among the Bank for Cooperatives' Utah stockholders are the Norbest Turkey Growers Association and In- termountain Fanners Association, Salt Lake City ; Federated Dairy Farms, Inc., Ogden; Cache Valley Dairy Association, Smithf ield ; H i - L a n d Dairymens Association, Murray; and the Moroni Feed Company Moroni. The seven Directors of the Berkeley Farm CVedit Banks who will be in Salt Lake City include Chairman Beyers, Salt Lake City; C. P. Gould, Vice Chairman, Litchfield Park, Arizona; Cecil H. Miller, Phoenix, Arizona; Howard L. Bud-long, Paul Anaheim, I. California; Enns, Bakersfield, California; Golden F. Fine, Yuba City, California; and Philip N. Mark,. San Francisco, California. Considering the current eco- nomic situation and the associ- ated availability of money and high interest rates, these meetings will be of great interest to the Utah agricultural 6 l The Hill Top Times SALT LAKE OFFICE Sales Force Base Hill Air 3106 South Main The Hub Salt Lake City 484-144- 1 277-465- Defense Depot OGDEN OFFICE Accounting Ogden, Utah 84401 Ogden The NeWSCope Service OFFICE Kaysville, Utah 84037 376-551- 8 SALT LAKE OFFICE Sales 3106 South Main Salt Lake City, 484-144- 1 277-465- 0 Center - Production 14 South Main HiU Top Times Hub IRS NeWSCope South Salt Lake News Western 393-499- 6 Sales (Night) . P.O. Box 884 KAYSVILLE 0 Law Books Magazines The South Salt Lake News The Utah Sportsman (Night) Sales, Inc. |