Show farm loan association will grant loans george W brown secretary treasurer of the central utah national farm loan association received word that president truman has signed the bill passed by congress which increases the powers of the association and speeds spee ds up the granting of loans to farmers and stockmen stoc kmen under the new law the asso association cia may lend up to 65 per cent of the normal agricultural value of the farm iri in the past a loan was limited to 50 per cent of tho the appraised normal value of the land plus 20 per cent of the permanent improvements the authority to continue anak making commissioner loans is extended to july 1 1946 the contract interest on these loans is 5 percent while the contract rate for land bank loans remains at thet tha present all time low of 4 per cent secretary treasurer brown said that many commissioner loans have been repaid and that others have been reduced so that they can now be re financed with 4 percent land bank loaris loans this he said is of benefit to many borrowers for it reduces their interest and consolidates their loans |