OCR Text |
Show Local Representatives Attend Farm Loan Convention 3. M. Fulmcr, vice president, the other four directors and IS. Glen Kenney, manager of the Cedar Ce-dar City National Farm Loan Association, As-sociation, spent Tuesday and Wednesday of last week in Salt Lake City, attending a conference of directors of the eight national farm loan associations in Utah. I These associations, together with 41 similar cooperative lending lend-ing organizations in Arizona, California and Nevada, are the owners of the Federal Land Bank of BerkeJey. The meeting was devoted de-voted principally to discussion of recent policy changes in the Rerkeley bank which make it possible for these local orcaniza- Hons, through which Land Bank loans are made, to offer Improved service to farmers and ranchers throughout Utah and the other three states. Mr. Kenney stated that the Cedar Ce-dar City association has loaned in excess of half million dollars this year in Its area. In a report to the conference group, Walter C. Dean, president of the Federal Land Bank of Berkeley, stated that the financial finan-cial condition of the bank is extremely ex-tremely healthy and it is enjoying enjoy-ing one of its best new-business years in history. He commented that loans' in excess of $33 million mil-lion had been made so far this ' year and the volume of loans outstanding had Increased from $S9 million on January 1. 1955, to nproximatelv $105 million as of October 31, 1955. |