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Show Federal Land Bank Place Big Sum Here J. W. Paxman, federal land appraiser ap-praiser for Utah, and one of the largest dry farm ers of the west spent this week in Gunnison appraising land for applicants who are negotiating loans from the Federal Land Bann of Berkeley. There are seventy-five applications filed from members in the Gunnison Valley National Farm "--Loan Association and it will be some time during the coming week before all of the applications are disposed vast amount of money that will come through the Federal Farm loan act, is the big sum which has been and will be distributed by the Gunnison Valley Sugar company for beet payments, pay-ments, and it is doubtful if any other section in the state will rank any . better than right here in the great Gunnison valley. "The sugar factory which has been established in your valley is proving a wonderful asset," said Mr. Pax-man. Pax-man. "It is having its effect in a most telling way, in, that it is creating creat-ing a higher class of farming and the latter will become mpre intensive, of. The total of the loans asked for at this time, will run " approximately approxi-mately between $400,000 and $500,-000. $500,-000. With the loans already made and the cash delivered to the applicants, appli-cants, it is estimated that through the local organization more than $GOO,000 will be supplied here to tide the farmers over. Added to the The factory will prove a big feature for the raising of the standard of agriculture ag-riculture and when this is accomplished accom-plished your valley will forge ahead as never before." . Mr. Paxman stated that since October Oc-tober 1st of the year, approximately applications for $6,000,000 had been made to the Federal Bank at Berkeley Berke-ley for farm loans from this district, which includes Utah, California. Nevada and Arizona. Utah leads thus far in the point 6 applications. The drain has been heavy and the officials of the bank at Berkeley express ex-press some surprise at the vast amount am-ount being asked for by the farmers And it is evident that the heavy obligations ob-ligations were incurred, apparently during the prosperous periods. Owing to the large sum of money which has been requisitioned frorr tne federal bank and owing to the fact that the present allottment if running low, it is likely that some few of the applicants will be disappointed disap-pointed at this time, or until late In spring when another bond issue will bo made. |
