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Show oo ! OGDEN HAS A CLAIM ON FARM LOAN . BANK That Ogden bankers do not look with disfavor upon the move to establish es-tablish a federal farm loan bank in Utah, in compliance with tho rural credits law enacted by congress, was Indicated by tho presence of officials of two local financial institutions bo-fore bo-fore tho federal commission at the .hearing in tho Commercial club in Salt Lake, yesterday afternoon and I last night These two officials were r A. P. Bigelow, cashier of the Ogden State bank and James Plngree, president presi-dent of the Uingree National bank. Mr. Bigelow was active in presenting present-ing testlmon' that would establish Ogden's claim to the institution. He held to the position that such an institution in-stitution would not interfere materially mate-rially with the business of Ogden banks as it would seek to enter a field that is not canvassed under the present banking system. Mr. Bigelow's testimony was to the effect that the money from his bank would havo greater productive power on short term loans than on long term loans. He said, however, .that money loaned on first mortgages and especially on farm lands was productive. produc-tive. He had found farm land securi- ties safe and recommended the establishment estab-lishment of the federal institution on that basis. D. D. McKay, president of the Weber We-ber County Farm bureau, another to represent Ogden's claims for tho institution, in-stitution, said that as the result of a canvass seven out of the eighteen districts dis-tricts in the county into which the farm bureau is divided had declared for the farm bank and earnestly sought its establishment in tho community. com-munity. The federal commission which heard the claims and which is traveling travel-ing over tho country with a view to dividing the nation into twelve districts, dis-tricts, each to havo a central federal farm loan bank, under tho operation of the rural credits measure, asserted that the testimony of Mr. McKay presented pre-sented the first definite working basis bas-is that would be considered In the claims given at any of the hearings. J. L. Robson, Weber county assessor, asses-sor, testified as to financial conditions condi-tions prevailing among the farmers in Weber county. The testimony of Mr. McKay was added to by W. Preston Thomas, Weber We-ber county farm demonstrator. Mr. Thomas described conditions in the county and stated that tho fanners generally welcomed tho institution because it would afford them means of obtaining oasy money for use in developing tho farm industry or in carrying car-rying into effect other development projects that had been planned. Members of the commission, it was stated, expressed the opinion that the intermountain country, including possibly pos-sibly the states cf Idaho, Wyoming. "Utah and Arizona, should comprise one of the districts and that Utah, because of her central location which is advantageous to travel, should be tho state in which the bank is located. lo-cated. No conclusion as to which city or which stato will get the bank was reached. The commission will take tho mass of evidence after It is collected col-lected from tho hearings to bo, held in the various states and from that extract the data that will enable tho members as a body to reach a decision. deci-sion. oo |