OCR Text |
Show IMPORTANT FACTOR IN AGRICULTURAL AGRICUL-TURAL DEVELOPMENT The firm of Miller & Viele has been an important im-portant factor in the development of the agricultural agricul-tural side of the prosperity of Utah, Idaho, and adjoining states. This firm confines Itself to agricultural securities. securi-ties. It was founded by Mr. Lee Charles Miller, the present manager, who negotiated his first farm loan on a Utah farm in 1889. At that time the business was confined to nearby valleys in Utah. The business was reorganized under its present name of Miller. & Viele in 189G, and has gradually extended its area until it now covers five inter-mountain states. Many a farmer in this section dates his real prosperity from the time this concern financed him. Furnished him money to buy more land; furnished him money to develop the holdings he already owned; furnished him money to buy water rights; furnished him money to buy cattle and sheep. The firm of Miller & Viele has never at any time handled any speculative irrigation securities, securi-ties, but has financed a good many farmer ditches in Utah, Idaho, Colorado, Oregon and Wyoming. It is a common theory of the uninformed that is not the case in our great mountain states. The farmers borrow money because distressed. The farmers here, when they borrow money usually borrow for development or investment. Take it as a whole, the interest money farmers farm-ers have paid is a bagatelle as compared to the profits they have reaped by this development work or investment. The firm of Miller & Viele has local correspondents corre-spondents in every important valley in this whole mountain country. It has a large corps of salaried appraisers and examiners who are constantly con-stantly in the Held inspecting securities, determining deter-mining credits, examining farms. A glance into the spacious offices on the eighth floor of the Kearns building with its score or more of busy employees, impresses the observer with the importance im-portance of this farm credit concern. Miller & Viele have been for many years representatives rep-resentatives for the land-credit system of amortization amorti-zation loans, and for more than twenty years credits have been extended to farmers in such a way as to permit the farmer to gradually reduce his indebtedness out of his resources. Miller & Viele have been for many years the financial correspondents of the Union Central Life Insurance Company of Cincinnati, Ohio, one of the great life isurance companies of the world. This life insurance company now has assets over one hundred fifteen million. Many of these millions mil-lions have been loaned J)y Miller & Viele upon our mountain farms. t |