Show Banks Win Award A yard for Service to Agriculture For the eighth consecutive con year Summit county's banks have participated participated participated with 55 other Utah country banks to win the tho 1000 point award of the tho th Agricultural Commission of or the Ameri Ameri- American American American can Bankers Dankers Association according according- to Moses C. C Taylor Kamas State Bank Dank who is Key Banker Danker for tor Summit county Utah Bankers Banker's Association Asso The Tho award is made on a basis of at con con- constructive constructive regular and extra services which the banks render In the Interest of ot ranchers and farmers and all aU of ot the tho banks in the state and the Utah Bank Bank- Bankers I ers era Association share In the honor Their exceptional work scored red much higher than the tho minimum 1000 points necessary necessary sary to win It The Tho work done In the home communities ties tics by the banks of ot Summit county contributed substantially to the success of ot the A. A B. B A. A national 45 1944 program Help Keep Agriculture Sound which alms aims at many benefits for tor agriculture Its Immediate goals are 1 Help farmers build and maintain finan inan- financial financial cial reserves through planned savings In war bonds and bank accounts 2 Work to prevent a farm land price boom 3 Give all out support to make farm provisions of or the G. G I. I Bill BUl workable by toy aiding the tho th returning veterans whose de desire de- de desire desire sire experience and nd ability will sup sup- support support support port successful sUe farm fann operations and 4 Keep farm debts at a safe sate level The Tho Utah Bankers Dankers Association Is ac actively ac- ac actively actively supporting this program which has among other long term goals a n Development of ot adequate banking and credit services for farmers designed to tofit tofit fit it the needs of ot farm tarm operations b Increasing farm tarm incomes through diver diver- diversified diversified sUled and well balanced production c I Improving and conserving the fertility of at the soil Every segment of o each rural community communIty ity ty Ity participates in this program which is varied to meet local needs and which has proven of ot Immense value to the state Utah home town bankers have encouraged their thell rural customers to utilize high wartime income wisely and ando to o establish financial reserves as a protection pro pro- protection protection against eventualities by buying war bonds and savings in bank deposits Throughout the war years cash income In Income In- In Income come from farm and livestock production In n Utah has been advancing ng Last year total otal cash received from all aU farm tarm mar- mar and government payments in inthe Inthe the state aggregated compared com com- compared compared pared with In 1943 and 86 in 1942 The be farm tarm and ranch families In the tho state will also be better letter able to meet the problems of the first years ears of ot peace because they own substantial savings and because the Inventory value of or their crops and live live- livestock livestock stock is generally larger than at the close of ot World War I. I I I survey show that last year Utah country j banks served of ot their farm and ranch customers with agricultural loans aggregating Of Of all farmers and ranchers borrowing from banks banks' last Ian year ear ar had loans l ans In an an aggregate amount of or out out- outstanding outstanding outstanding standing at the th beginning of or this year This outstanding volume was made up of or loans on Crops In storage Insured by bythe bythe the Commodity Credit Corporation amounting to farm and live live- livestock I livestock stock production loans of or and andreal andreal I Ireal real estate mortgages totaling I Utah farmers and ranchers have need need- needed needed ed to use only about one half balt of ot the bunk bank credit available to them Banks Danks need need-I I of ot the state report that in addition to the of or agricultural loans out out- outstanding outstanding outstanding standing they have more than 20 available for tor additional loans 1 if there exists a demand for tor such loans Indicative of or tho the strong financial position of ot farmers and ranchers In Utah I is the fact that only 45 per cent ce t of or I them found it necessary to use bank credit during the year Farm land prices in Utah Increased 38 I per cent during World War II In World War I the advance was 22 per cent and andI J I by 1920 average prices were up 67 per percent percent I cent cent above war pre-war level Many farmers I f who over extended themselves to buy I high priced land met disaster when the I I depression came in 1933 I The Tho rise In farm tarm land prices s now I appears similar to the Increase follow- follow followIng Ing World War I and Utah bankers are reminding their farm tarm customers of ot dan- dan danI I gers gera in n the present situation During the war period just passed lour i J OUT our farmers have cooperated with their J home town bankers in following proved I I financial policies and have not pot only re- re retired re retired tired debts of at all kinds but they also have engaged In projects such as soil conservation which are of or a positive constructive value Mr Taylor said |