OCR Text |
Show Farm Loan Assn. Does Record Business During 1952 I J. M. Palmer, vice president of the Cedar City National Farm Loan Association, announced today to-day that new loans totaling $19,321,900 were booked last year by the Federal Land Bank in I Berkeley. The local association is one of the 53 farm credit co-operatives in California. Arizona, Utah and Nevada, that are sole owners of the Land Eank. Glen Kenney. secretary and treasurer, reported that the Cedar City National Farm Loan Association Asso-ciation closed S165.600 of this 1952 new-loan volume, which was the second largest in the bank's 30 year history. The record year was 1934 when Land Bank loans totaling $56,000.0(10 were made to farmers in the four states. The bank's year-end statement of condition showed $72,877,546 outstanding in long-term farm loans, an increase of $4,536,573 during 1952. Of this sum, $es,321 represents loans in this area made through and serviced by the Cedar City Association. The bank's net worth increased $816,843 to $21,806,374 at the year's end; and capital stock, all held by the 53 national farm loan associations, totaled $4,540,-641. |