| Show TER rm 11 BANK AND IDAHO 13 BANKERS ANKERS FORM LARGE BANK AND WILL ASSIST FARMERS IN BOTH STATES will WAI be available for agri cultural purposes tf within short time prominent men behind venture assures success rr Pre ellmary limary organization of 0 the utah idaho joint stock lund I bunk bank created to extend long term credits on agricultural cult nral real estate was announced wednesday by tile directors representing the bankers of the two states who are subscribing to the capital stock of formed under the provisions of the federal farm loan lending power of fifteen times the capital stock or 3 which the directors intend to 1 distribute di bute equi equally tIly in utah and add idaho it is 18 the first corporation of its kind in n the intermountain intel mountain section and Is 1 probably the most significant cooper co oper ate financial move ever taken la in the th t two states the directors are W IV armstrong president of the national copper bank who heads the temporary organization charles S burton barton vice pre president of the utah state national bank bajik D I 1 L evens president of J K N ireland irelan d and company bankers of malad idaho H E hatch president of erf thatcher brothers bank of logan 0 W adams vice president of the first national bank of lot odgen 0 B berglund bergland lund president of the Gunn nison valley bank of gunnison utah carl val entine president of the FIL first L national bank of pocatello E 31 kennedy KeD Dedy president of the first national bank of blackfoot idaho john ohn W hart president of the first national bank of rigby idaho N T porter former state bank commissioner of utah la is secretary of the organization the permanent organization will be b effected upon the receipt of the charter tor for which application will be made immediately to the federal farm loon loan ward board it Is the aim of the backers of the bank to be ready to begin making loans within tie the next licit thirty days advantages possible to the th borrowers borro from the joint stock land bank as compared with the borrowers from the federal lin land d banks are principally these that the borrower from the joint stock land bank 1 Is not required to make any subscriptions to the capital stock of the bank that the borrower need not necessarily be engaged in ID the cultivation of the land on which the loan is sought that hat the borro borromei wei makes application for hit big loarl loan direct and Is not required to become a member of a national farm loan association and abd that the individual ual borrower may obtain any sum up to 37 SOO the borrower from the federal land abante cannot get more than one of the principal objects ot of the organization of the utah idaho joint stock land bank is to relieve many of the banks of utah and idaho principally those in the country from their frozen loans on agricultural r real eat estate estat e to relieve the banks of a con ild Ad erable amount of tills this paper will ne release credits for other and more constructive tive purposes in addition to making more liquid thesis the assets sets ot of the banking institutions while the benefit ot of the institution to the banks 1 Is to be of very twy irrie importance the benefit to the tanners farmers who obtain the long lone term loans will be of MeS inestimable benent benefit if the bankland banks bank sand and the farmers are helped by the organization and it sews seems certain certa n that thai they will be all the members of the involved are bound to share at least in tile the move |
