The Record-courier. [volume] (Gardnerville, Nev.) 1904-current, 1922-11-03

Througn the activity OF Nevada
bankers. the Pacific Coast Joint Stock
Land Banks. will soon include Me-
vada In its field of activity which will
result in at least $5,0OO.oO0 being
available for first-class farm loans,
which may run for a period OF 80
years.
For the past number OF months w.
II. Bridges, of the Farmers Bank of
Carson Valley of Minden. has devoted
much time In endeavoring to organize
farm loan association In Carson
Valley under the federal bank regu-
lations. However. so much red tape
was encountered that he abandoned
the idea and set to work on the more
feasible plan of organizing q branch
of the Pacific Coast Land Banks.
which offer the same advantages to
the farmers with less red tape. His
Investigation revealed the fact that
the branch OF the Pacific Coast Joint
Stock Land Bank at San rrancisco.
included portions Of Oregon, while
that section was also covered by
branch OF the Land Bank at Port
land. He also found that California,
Arizona, Oregon. Washington, Utah
and Idaho. were included in the ter
ritory of the Land Banks. and that
Nevada had not been included In the
districts served.
Mr.. Bridges recently went to San
Francisco and took the matter up
with W. H. Joyce. president of the
San Francisco branch and received
assurance that Nevada would soon be-
included in the district. At the meet
ing held in San Francisco, George
Wingfield. president Of the Reno Ma
tional Bank, was present and assisted
Mr.. Bridges In presenting an argu-
ment In favor of Nevada being includ-
ed In the district served by the San
Francisco branch. Banks at Winne-
mucca. Elko. Reno. and other Nevada
points have, since that time, assured
Mr.. Joyce that they will anticipate In
the plan now proposed, and will take
stock as is required under the federal
law.
Mr.. Bridges believes that the COM
ing OF the Pacific Coast Joint Stock
Land Bank into Nevada territory will
prove to be one of the biggest helps
to the farmers and livestock men that
has been brought about In recent
years. 1t is. estimated that there Is
about $5.ooo.0o0 In what is termed as
first-class farm loans In Nevada. q
half-million Of that sum being in Car
son Valley. Through the transfer of
those loans to the Land Bank and the
release Of money now held In these
investments by Nevada banks, will
give the home institution ample funds
with which to finance the needs of
livestock men and other enterprises
and assist greatly in the financial
problems In this state.
Following Is the general purpose
and plans under which the Joint
Land Banks are operated:
These institutions are organized for
the purpose OF promoting the general
welfare Of the Pacific Slope by pro-
viding capital for the development OF
its agricultural resources, creating a
standard form Of investment based
upon farm mortgages and equalizing
rates OF inteest upon farm loans.
These land banks are allied with
the following financial institutions,
whose combined resources are close
to $6oo,00o,o 900.
Security Trust and Savings Bank.
Los Angeles. California.
First National Bank, Los Angeles.
California.
Los Angeles Trust and Savings
Bank, Los Angeles. California.
First National Bank. Portland, Ore
gon.
Walker Brothers. Bankers. Salt
Lake City. Utah.
National Copper Bank, Salt Lake
City, Utah.
Utah State National Bank. Salt
Lake City. Utah.
Deseret National Bank. Salt Lake
City, Utah.
Mercantile Trust Company, San
Francisco. California.
First mortgage loans will be made
on farm and branch lands In amounts
up to $4,000 to any one borrower for