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Show Farm Loan Bonds Above Par! I C. L. Warnick, Secretary-Treasur-1 er of the Pleasant Grove national : farm loan association for the north end of Utah county, recently received re-ceived word from the Governor of the Farm Credit Administration, William I. Myers, telling him of the ready reception which farmers and their creditors are giving to the bonds of the Federal Farm Mortgage Mort-gage Corporation which are now being tendered by the Federal Land Bank of Berkeley in place of cash in settlement of farmers' debts. "These bonds have been selling in the large markets at a little above par, indicating a ready market mar-ket for them. Just a week after the banks began using bonds instead in-stead of cash, the first bonds to be sold on the New York market were purchased at 100-. We anticipated these bonds which bear 3 percent interest per annum would sell at par or above at the time we set the interest rate, for Government bonds maturing in 1941, bearing the same rate were selling above par." There should be no hesitancy on the part of creditors to accept these bonds, at par value, and then assist as-sist the borrower in working out his financial situation. o |