, 1921-10-28

finance corporation.
This is the Judgment of former
Gov. u. b. Brooks OF Casper. who as
banker. stock grower. oil man and
member Of the agricultural loan
committee OF. the war finance corpor-
alton for wyoming. IS in a position (
to gauge the business trend in the
state and to forecast the effects that
may be expected from the finance
corporation plan.
The relief afforded cattle and sheep
men. extending ovcr q period of three
years. VIII permit this sorely tried
industry to work back to a normal
condition. something which. because
of the Importance Of the Industry.
means much 10 the prosperity OF the
state. This. however, will be only
n effect Of the operation Of the
plan. 1t is -pointd out. Banks will be
relieved of the weight of loans they
have been carrying TO tide stock
over the depression. and
this in turn will make available
easier and better financial accommo-
cations for general business. for new
building and for many lines OF de
velopment- The reflection Of this
should be seen in practically every
quarter.
Many Applications Being Made.
Applications for loans aggregauns
nearly $1,000. 900 have either been
acted upon or are pending before the
agricultural loan committee of the /
war finance corporation in this state.
The recent trip through the central
and northern parts of the state made
by the directors OF the Livestock Loan
association to familierize local bank
ers with the detail Of making loans
for their clients from the war finance
corporation is expected TO result in
many moro loans being made in
those sections.
The war finance corporation. es.l
tabiished during the war to help H..
nance enterprises essential to the
nations success in the war, was re-
Gently revived by congress to extend e.
nancial assistance to the AGRICULTURAL
and hvetock industries of the coun.
try. Tho effecN OF the aid extend
ed to the cotton growers OF the
south is already apparent. The cor.
poration's resources are a billion ,
dollars.
A committee, known as the ayri-
cultural loan committee. passes upon
all applications from state.
George l.. Abbott, president of the
First National bank; Of Cheyenne, is
chairman. The other members are
John W. Hay. president OF the Rock .
Springs National and head of sew.
eral other Wyoming banks; A. Fl.
Msrble, president Stock Growers NJ.
tonal bank. Cheyenne; George Perry,
president Sheridan National bank.
and b.. d. Brooks, president or the
Wyomiag National bank of Casper.
Plan Helpful To All
Applications for loans may be
made direct through a local bank or
through the Livestock Loan associa-
ton. an Institution established at
Cheyenne for the specific purpose
of handling loans from the war fl
name corporation. Unlike banks.
the loan association is moi limited as
to the amount of loans II may
handle. and by reason OF this fact it
is in a position &c serve a very prac-
and useful purpose at this time
when ar unusual amount OF finan-
cial assistance must be extended to
the livestock industry. 1t is also
able to handle much OF the paper
which the banks have been carry.
ing through she depression. This
places the banks in q position to ex-
tend accommodations to other en-
and in~dividua.s, thereby
a welcome stimulus to bust
ness in general.
The directors OF the Livestock
- ~.-A.ef--
president First National bank. KEN
merer; Harry B. Henderson. presi-
dent Wyoming Trust and Loan
Cheyenne; Harry Weston.
American National bank.
A. D. johnson. cashier
National bank. Cheyenne, and
a. ]. Cunningham. president Casper
National bank.
The borrower pays eight per cent
upon loans obtained through the war
nance corporation. This includes
the corporations rate of six per
cent and an additional two per cent
which the government allows the
banks to charge for handling the
The government is pro-
through the depositing with
the war finance corporation of the
the banks note and collateral secur-
ity. II any losses occur they must
OF course be absorbed in the two per
which the bank u other insti.
tuition receives for handling such
loans.
Loans from the corporation cease
July / 1922. but may be renewed so
as to extend over an additional two
years.