Show FEDERAL FA FARM M LOANS LO r. r HOW TO SECURE MONEY k t. t Farmers Should Plan Now Get to-Get Some Som of the Cheap Money Offered By the Government Local Government Local Loan Board Must lust Be Organized in Each Community Capitalists throughout the East are poking looking to Utah with her wondrous un undeveloped resources to supply much of ot the worlds world's necessities of the future This is shown b by Inquiries that ia Q slowed Hawed into the offices of the Utah conservation commission for tor last week Materials for making paint pigments pigments pig pig- ments clays for pottery oil shale hundreds mica of natural paraffin such rare and valuable products of nature are found In la the mountain of this state r They exist in such Buch quantities many of them as to be a source of latent wealth b beyond yond ordinary Conception members of the tho conservation conservation conser conser- mUon l hoard oard declare These These things l particularly are what the men of money in the East are talking about Present inquiry aril ana the tone of business in practically practically ally all aU communications presage subsequent U sequent developments of importance importance im im- conservation commission commission- commissioners ers believe I Using information given by prospectors pros pros- i and others who penetrate I the territory where these potential I riches lie the board hoard Is replying to torill rill 1111 ll 1 possible 06 ihie letters giving as cx- cx et ct knowledge as ns it had Resource maps of the various out out- counties not yet being finished I there thore are many portions of oC the state which contain minerals undisclosed to the state officials Twelve of ot the new federal land laud banks anks where farmers may borrow money at a low rate of Interest will be established throughout the 1 United States I The privilege of obtaining obtaining loans under this system Is limited to actual actual actual ac ac- ac- ac farmers The money borrowed must be he spent on the mortgaged i land either for the purchase of landor land landor or to to pay off oft an indel indebtedness upon it It for needed improvements upon the theland theland theland land or for the purchase of live livestock livestock livestock stock or equipment needed for the I reasonable operation of the farm It cannot be used for any other pur pur- pose pose Farmers ma may borrow orrow any amount from to and the mortgage mortgage mort mort- gage gag may r run n from five to forty years at the option of the borrower The amount of the loan cannot exceed exceed ex ex- 50 per cent of oC the value of oC the theland theland theland I land and 20 per cent or of the value of the improvements The Interest rate cannot be more than C G 1 per por 01 cent and may not be more than 6 per cent To make use uso of this banking system system tem however tho the law requires that farmers or prospective farmers must get together in groups of ton or more and form local National Farm Loan associations This means that the farmer who wants to borrow mono money from tram a federal laud land bank must find at least nine other farmers who also want to borrow money Then these ten or more farmers form torm an association elect officers and send in their applications to the federal land bank of the district for tho the loans Through the formation of or these these theseas associations associations associations as as- and the bulking of oC the tho applications applications ap ap- for loans and business busine of the banks hanks is expedited a 11 local responsibility Is provided for the exclusion exclusion ex ex- of r worthless risks and the overhead cost of handling the loans is greatly reduced Under such an ment the appraiser can inspect inspect inspect in in- ten farms almost as cheaply as one For the farmer who wants to make a aloan loan the important thing is to find the other nine or more farmers who also want loans This is not always easy to do because e the average farmer fanner farm fann er does docs not usually know the financial financial financial finan finan- cial needs of his neigh neighbors ors To aid the tho farmers who would like to make such loans and to facilitate the forming forming forming form form- ing of tho associations there Is printed print print- ed below helow a coupon which the farmers are asked to fill out and mail man to the Federal Farm Loan board These names will wUl not not be published bu but t will willbe willbe willbe be entered In a list of prospective mem members ers of farm loan associations and as soon as the federal lan land 1 bank for this district is read ready for business which should lJ be within a few months the farmers in the tho same sarno localities who have ther timer names entered on the list will be duly notified so they can form an association Division of oC Information Federal Farm Loan Board Hoard Washington D. D C. C I here hereby y request that you enter my my name as a prospective member of or the National Farm Loan tion I would like a copy of ot the booklet How Flow to Form a a. National Loan association Name i Postoffice R R. R F. F D D. County State Slate |