OCR Text |
Show the following features: 1. Provision for Mortgage loans to run from five to thirty-five thirty-five years. 2. Interest rates on these loans as low as is consistent with the risk involved, and with the rates on other loans equally well secured. 3. A method of making the mortgage securities as readily negotiable as the bonds of amun-icipality, amun-icipality, or other govermental agency. 4. Provision for wiping out the principal of the debt by means of annual payments by the borrower, slightly in excess of the stipulated rate of interest. These rural Credit associations are based on the report filed in Congress by the Commissioner appointed by Congress to investigate in-vestigate rural credits in Europe, and if deemed advisable to adopt them in this country, viz. To loan money to farmers atQ'A from five to thirty-five years on a 50 'A appraisement. The Inter Mountain Rural Credit Association has been organized or-ganized for this purpose for the states of Utah and Idaho. The representative of this company for the counties of Juab and Millard, Mil-lard, has been in Delta for some time, and expects to do a big business bus-iness in this vicinity. Any further information can be secured by writing or calling on F. S. L. Patterson, Representative Repres-entative for Juab and Millard Co., Delta Hotel, Delta, Utah. Rural Credit System The object of Rural Credits .is to complete the purchase of farm land, to improve and equip such land for agricultural purchases, or to pay and discharge debts secured by mortgage, or other lien on said land, To meet these requirments, loans of a. long time and low rate of interest are demanded. The average rate of loans on farms in the United States is 8h per annum at the present time. This rate is much higher than is warranted by the character of the securities offered for such loans, and is a serious handicap to the farming industry. To correct this, Rural Credit Associations have been formed in various states, which embody |