OCR Text |
Show Improve Conditions .... Utes Consider investing Money Anticipating a $1,000 per capita cap-ita payment in the near future, Ute Indians of the U&O reser-j vation are seriously thinking of putting their shares into raising rais-ing their standard of living, paying off their debts, and starting start-ing sound investments. A recent survey undertaken by the Ute planning board reveals re-veals that about 50 per cent of the Indians desire to withdraw an average of $335.00 of the $1,000 payment for immediate needs and leave the balance in the agency accounts. Each Indian In-dian maintains an individual account ac-count at the agency for banking bank-ing purposes. Special permission had to be obtained from the In- dian Bureau in order to provide this service, since new regulations regula-tions no longer permits the Indians In-dians to use the government facilities fa-cilities for banking purposes and any money accruing to' them through the agency must be paid out immediately. The other 50 per cent wish to withdraw all of their funds, with approximately 85 per cent expressing the desire to deposit I their shares in commercial banks. The Tribal Business Committee Commit-tee and the Ute Planning Board have been very active in advising advis-ing the Indians to put their money to wise uses, not carry around too much cash on their persons, patronize local merchants mer-chants and to beware of itiner ant salesmen, and to provide safekeeping for the large amount of money. Minors and incompetent persons' per-sons' funds will be placed under the supervision of the superintendent. superin-tendent. Children's money will Be made available to' parents on presentation of a sound plan for the wise investment of the funds. Date of the payment has not been set, pending authorization from the Secretary of the Interior In-terior and release of the funds from the Treasury Department. Tribal officials announced that the Indians would be informed as to the approximate date of the payment when authorization authoriza-tion from Washington is received. |