The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1922-11-04
EUREKA COUNTY STOCKMEN HOLD MEETING

| annual meeting OF the men,
Ders OF the Nevada Cattle and Sheep
Growers Association of Eureka
County was held In the District Court
room In Eureka Wednesday after
noon, and was attended by a number
OF the stock raisers Of this section.
Vernon Metcalf, secretary of the
association, was the principal speak
er at the meeting and took up many
subjects of vital importance to those
engaged In the important industry.
He submitted many interesting fig-
ures and made valuable suggestions.
Among the achievements of the
association as reviewed by Secretary
Metcalf and suggestions made by him
on important matters were the fol-
lowing:
Achievements Of Nevada Association
In order to have Nevada share in
the benefits to be derived through
the United States War Finance Cor
poration the association secured
committee of bankers, which, with a
representative of the association, met
with the director of the corporation
when that officer passed through San
Francisco on his tour of the West.
The situation of the livestock indus
try In Nevada was explained in de-
tail to the Government Official and
assurances received that plenty of
money was available to cover all
loans which could be protected with
reasonable security, provided Nevada
banks would handle the details of
placing the loans with qualified ap-
plicants. The greatest benefit de-
rived from this was perhaps through
the fact that Immediately 1t became
known that financial aid was avail
able through Government channels
the credit situation generally was re-
lieved. Money for loans from pri-
vate sources became more plentiful
and the necessity for stockgrowers
heavily In debt to force the sale of
their stock in order to cover obliga-
tions commenced to disappear This
combination OF circumstances re-
suited in a prompt stiffening of live
stock values, and from the time 1t
became known that Government f.
nancial help for Nevada stockmen
| was coming prices of livestock and
livestock products have continued to
increase.
Through the efforts the State as
sociation a cooperative loan associa-
ton was organized and financed to
place these Government loans with
qualified livestock borrowers in the
main livestock section, this being
found necessary because OF the fact
that many banks could not find 1t to
their advantage under the rules i'm
posed to place the Government mon
ey with the stockgrowers qualified
| to receive 1t. Up to this Fall this
cooperative association had placed in
loans with qualified stockgrower bor-
rowers in Nevada approximately
100000 of Government funds. By
| the end of the current year II Is an
ticipated that 100000 will thus be
loaned, and this is the limit in the
sum which the association can place
| In Nevada under the Government rule
and the size of its capital stock. The
effect of these loans has been felt all
over the State. resulting in a material
| lessening of frightened credit. in in
creased business for all commercial
and professional lines and in stimu-
lated prices for livestock generally.
Organize Joint Stock Land Banks
Under a new provision of the Fed
eral farm loan act 1t is now possible,
| through the organization of Joint
stock land banks, for farmers and
stockmen to secure Government help
| In loans on their land and improve
ments. Loans to a maximum of $780,
600 to an individual are provided for
at an interest rate of 6 per cent. AS
long as forty years can be granted for
payment. Advances will be made OF
sums up to SO per cent OF the ap-
praised value of lands offered as Sc
curity and 20 per cent of the i'm
provements. Steps have been taken
by the livestock association to have
Nevada placed under the territory OF
the San Francisco joint stock land
bank, and information to date justi-
fies the belief that this will soon be
accomplished, when Nevada farmers
and stockmen In need of help in this
connection can have fair opportunity
to secure the same.
Government Financial Legislation
Legislation looking to a plan OF
permanent Government financing
when needed for the livestock and
agricultural industries of the entire
country is now pending. In order
that when this legislation is secured
it may fit the practical needs of those
which 1t Is destined to benefit, COM
mittees of stockmen and farmers
have been invited to develop this leg
islation in cooperation with Govern
ment officials. To protect Nevada's
interests along this line the associa-
ton has succeeded in securing place
on this committee and Jerry Sheehan
of Winnemucca has been selected as
Nevada's representative.
Takes On Both Land and Livestock
The activities of the association
during the last year in its efforts to
secure equitable taxation on land and
livestock in Nevada, compared with
other classes of property. were out
lined in detail. 1t was explained that