Iron County Record | 1954-07-01 | Page 4 | Co-Op Stock Dividend Paid to Local Farm Loan Assn.

Co-op Stock Dividend Paid to i Local Farm Loan Assn. i I The Cedar City National Farm Loan Association, Secretary-treasurer (Jlen Kenney reported today, to-day, has received a four per cent dividend on its stock outstanding outstand-ing May 31 in the Federal Land Hank of Berkeley. This dividend, Mr. Kenney explained, will be used to increase reserves and surplus to assure future stability stabili-ty in line with established financial fi-nancial policy. This semi-annual dividend was distributed by the land bank to the 53 national farm loan associations in California, Cali-fornia, Arizona, Nevada and l.tah. which own the hank and are in turn owned by the farmers farm-ers and ranchers using their long-term credit service. Mr. Kenney said that 195-1 promises pro-mises to be very favorable from I the standpoint of service and i earnings for this co-operative farm credit system. It is expected expect-ed that loans to farmers and ranchers in the four states during dur-ing 1951 will exceed the 23,-,000.000 23,-,000.000 total issued in 1953. j During only one other year in ithe organization's 37-year his-jtory his-jtory has there been so great a I demand for land bank loans.