OCR Text |
Show GOVERNMENT FARM LOAN APPRAISER FOR BEAVER COUNTY ..Beaver County News, Milford, Utah. . Included in the assignments of appraisers made today by the Fed- eral Land Bank at Berkeley was that of S. S. Smith of Utah, who will appraise various associations in Washington, Sanpete, Millard, Beaver and Iron counties, Utah, and in Clarke county, Nevada. Berkeley, Cal., Jan. 18, 1918. With the assignment of appraisers to various National Farm Loan Associations As-sociations in California, Arizona, Nevada and Utah, today, the Federal Land Bank of Berkeley began the work of the new year which is expected to bring the bank a business of a million dollars a month, according to Secretary A. W. Hendrick. "During the closing months of 1917 the bank attained a pace closely approaching the million dollar mark; $880,000 in loans having been closed in November and $S00,000 in December," said Hendrick. We expect a great influx of applications within the next few weeks," said Hendrick. "We have information that many farmers, who have been holding their applications to see what disposition Congress made of the proposed pro-posed amendment to the Farm Loan Act which would have made impossible the loaning of land bank funds for the purpose tif refunding existing mortgages, mort-gages, will now send them in. "The amendment which would have prevented 90 per cent of our applicants ap-plicants from obtaining loans was killed, however, and the amendment which carried allows us to use the funds so obtained for any of the purposes pur-poses set forth in the original act. The action of Congress, of course, places the stamp of approval on Farm Loan Bonds as nothing else could have done and they have become, without a doubt, the ideal investment. "While we go forth now for new business with a rate o interest one-half one-half of one per cent higher than that which existed for the most part o last year, so far we have seen no difference, and we do not expect that any material ma-terial difference will be made,-in the number of applications received. The farmer is willing to pay 5 per cent which is the new rate, and is most interested in the long period of time over which the mortgage extends." FEDERAL LAND BANK, Berkeley, Cal. |