| Show extend period Perio d on land bank loans importance to farmers of this vata teof the bill recently passed by congress and signed by the preal dent extending extending exten din g the period tor for making land batik bank loans to june 1 1042 may be seen from some figurea sup supplied by charles parker president of the federal land lana bank 0 of berkeley the authority to make commis aloner loans loana would have ended february 1 1040 if the lawn law had not been bean enacted extending this authority prom from may 1 1833 1133 to january of this year utah farm fann ers era obtained ibana from laud land bank commissioner funds bunas mr parser parlor said A portion of these were straight commissioner loans and the rest were what we call joint loans r that Is loans in which tho the federal land bask bank and the corn com missioner miss loner join to make a loan to the farmer in many cases it Is impossible for the land bank alone to lo make a loan large enough to meet the farmers farl ners needs because it la Is limited by law to making loans not exceeding one half the ulue oft of athe the farm together with i one fifth the 1116 insured value of the building this Mul limitation tation Is overcome then conditions warrant making part of the loan through the commissioner for such loans may be made up to 75 per cent of the total value of the farm and buildings utah farmers borrowed over of commissioner funds during the past six years sears and while this Is a little over one halt half of the total loans made to utah farmers through the land bank it was iwas a vital altal factor since otherwise it would have bave been imps able to have hae helped them |
