The Idaho recorder., 1922-02-24
READY MONEY FOR
NEEDS OF FARMERS
CITIZENS NATIONAL BANK IN
|. CONNECTION WITH FINANCE
CORPORATION.

/
5, CONNECTION WITH FINANCE
| CORPORATION.
Cashier George w. Davis of the
/ Citizens national bank, who had beer
in consultation with the War Finance
j corporation, returned from Blackfoo,
and Pocatello ON Wednesday, bringing
cheering news for the Lemhi livestock
men in that he was enabled to secure
for their benefit an advantageous con-
nection with that institution whereby
present needs of the stockmen to carry
them over the adjustment period with.
out sacrificing their breeding animals
to the demands Of their creditors arr
to be provided through the Salmon
bank. Loans may be secured without
unnecessary delay through the cor,
poration connection. Incidentally Mr.
= Davis secured the appointment o1
Harry L. Summers as stock inspector
tfor this county. Mr.. Summers is one oi
, the best informed men in the stock
business in the state.
| Timely Aid for Stockmen.
Speaking of his visit and the results
thererfrom Mr.. Davis said:
For the past few months the
| banks have not been able to make
loans to any great extent and it
has been necessary for the ranch
er to sacrifice his growing stock in
! order to meet running expenses.
/ One of the bad things for the
! livestock industry has been the
/ marketing of unmatured stock
and this is what all the western
states are trying to stop. A meas
ure of relief is now in sight since
the farmer can borrow on his
| stock through the War Finance
corporation and this will give
him time to mature his stock and
save great loss. 1t will also keep
more stock in the valley. which
is another important factor to
consider.
According to plans at the pres
ent time it is possible to secure
a loan on any livestock even if
1t is already mortgaged. In that
case the mortgage must be releas-
ed so that the War Finance cor
poration will have the first lien,
and the banks or other lenders
will be paid off from the proceeds
OF the loan. The rate of interest
Will be ia percent and the loans
are made for one year with the
privilege of renewing for three
years. BY that time it is hoped
the rancher will be on his feet
and he will be able to have his
bank take care of him. The banks
all over the country are getting
In a stronger position and without
a doubt in three years they will
be able to take care of their Gus
toners. The War Finance corpor-
alton Is just temporary organ
iZation for just such an emergen-
cy as we are now having and bv
that time it will have served its
purpose.
A few of the stockraisers have
already secured this aid through
banks outside of the county. II is
now possible to take care of all
the details here. Harry l.. SUM
mers has been appointed inspec-
tor for this county which will
save time and expense for the
borrower because it will not be
necessary to have an inspector
come in from the outside.
1t Is unnecessary to say that this Is
the big news of the year so far as
Lemhi county is concerned. The Cit
liens national bank is certainly to be
congratulated on securing for the
county this timely aid.
Another Banks Help.
Another advantageous bank con-
nection is being arranged by the
Pioneer Bank and Trust company with
million-dollar corporation for the
financing of Lemhi farmers. This in
stitution is enabled to handle loans on
accommodating terms for borrowers. Ii
is the Idaho Agricultural Loan COM
pany, with headquarters at Pocatello,
and the Short Line railroad company
and the great sugar beet companies
are enlisted among the capitalists at
the head of the institution.