Show C A hymas county agent M chinley morrill and jasper jaspe Wili wiliarts arns attended the district distri cl meeting held at richfield last thursday day I 1 ahe he object of thi lh meeting was to aram ze a distri f production prodoc ion credit alsoc assoc association the district distri Lt was to comprise san pete sevier M millard illard wayne piute diute garnad and kane kanc mr W R andrew Se secretary creary of pro action credit corporation corf oration N of berkley california Calif oania and pro f fessor assor W WT T thomas thoma s of the utah agricultural college the purpose of the organization mr andrews explained on ace u nt nl of volume and ove head expense ir would be only two organizations in the state one to handle loans above both to be established in salt lake city representatives were chosen from the above named counties to go to salt lake tuesday february 6 and february 8 to form an association jasper williams will go as representative for piuta county the setup set up is explained briefly as fallowes fol lowes how loans are obtained bor rowers offer oner acceptable security to buy voting stock in and become members of a local production credit association each borrower r must own stock in the association of a value t to about 5 percent of the money borrowed borroni ed re gard less of the he amount a borrower owns this stock aock entitles him to one vote vole at a association met ings it carries no double liability size of loana loama loan to ans am OTIC oie daimer may not ee d 20 percenia of the capital and duall anty fund of the assoria in i m unless anlee et the collateral is approved by th production credit with such approval of the he collat eral a loan may be made in in on an abou amou amount it not to or not exceeding 5 50 0 percent of the combined capital capita guaranty fund of the associate bior no loans for le less s t an 0 can bo made time almost all loans a arc re made with m not exceeding one year the mau rity of a loan will approximate the marketing per iod of the crop or livestock finan ced by the loan security pr primary amr ry security nuit rr uil be a first mortgage lien on personal at property as pie ments ls and crops r f cost interest rates on loans vary but cannot exceed by more than 3 percent the rate charged charac d by ine federal intermediate clebit banks the district on loans made to the association at present the rat rate charged by the federal inter 11 Tied lale credit banks vary from rpm 3 t 11 3 and ore half percent mak ng mg the interest rate charge the carmer armer very from 6 to 6 and one borrower pays reasor ible inspection charge and all 1 search and record 1 fees ees for title trig Corn Hog meetings were an bounced as follows junction friday february 2 kingston saturday february 3 Cir ir cleville monday february 5 agle tuesday ath marysvale Marys vale wednesday ath and the corn cittee are also working in green A after visits fon the county agent A ge nt to the first three names towns there ar are e only about five prospective hog contracts if it possible that the people do not understand and are anxious to make application for a hog contract contact your county agent or a member of 0 your ocal local committee anyone who has had at kemz hie hiet t i litters per year during 1932 T r 33 are eligible and your pay nent is to the extent of five dol ars a head average for 75 per ert of the hogs proa produced each ear during the base period |