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Show J:VS IjETTKR FROM THE FEDERAL LAND j HANK oi'1 Berkeley! Berkeley, Cal.. July 5th The applications ap-plications of two national farm loan ; associations in Utah were passed ; this week by the Federal Land Bank of Berkeley. The total loans requested re-quested amounted to $75,000. This sum, in conjunction with $50,000 application of members of Utah associations as-sociations which was approved, brings the total sum to be loaned to Utah farmers this week up to $125-000. $125-000. Thirty-one national farm loan associations as-sociations have been organized in Utah, and the requests for the loans are either receiving the attention of the Federal Land Bank, or are being be-ing prepared by the local officers for t submission to the bank. In addl-1 tion to these there are thirty-six national farm loan associations, for j which preliminary steps have been j taken by the farmer members, and it is expected that these will be organized or-ganized within a few weeks. i Some recent rulings of the Nation-i al Farm Loan Board are of particu- j lar interest to the Utah farmers who i are homesteaders. Among them are: ! ''The Board holds that where a j homestead entryman on Government homestead has in good faith occupied occu-pied the land for the requisite period per-iod and made final proof by virtue of such settlement, his land office receipt may be accepted as evidence of basic title for the purpose of a loan under the Federal farm loan system. Where homestead entry-men entry-men commute at the end of fourteen months and pay for their lands, the Board will insist upon patent having hav-ing been granted before a loan will be passed. "The Board has also ruled that loans will be made on lands which are primarily agricultural lands, on which there are leases carrying the right to remove oils, gases, or other materials, provided mat the extent to which such use may interfere with the use of the land for agricultural agricul-tural purposes be taken into consideration; con-sideration; and that the land bank indemnify itself by requiring the borrower to include in his mortgage mort-gage the rights under such leaso, and agree therein that the proceeds pro-ceeds from such leases shall be applied ap-plied to the payment of the mortgage. mort-gage. "In regard to stock raising, the Board regards the use of money borrowed bor-rowed from the Federal land banks, for the purpose of purchasing sheep, as strictly within the purview of the law, and altogether commendable." |