The copper era and Morenci leader., 1922-03-24
LOANS AVA|LABL FOR GENTLEMEN
 IN THIS DISTRICT

Through the efforts of the First National Bank of this city, whicl: have been persistent for son etime past, word was received this week from the War Finance CorDoratiOn, thf Greenloe county had been addcd the Albuquerque, N. M., district, anI the First National Bank, of Clifton, ;JId The Bank of D mean. at Dun can, have been admitted as mem bers of the Livestock Board with headuuarters at Albuquerque.
 Under this arrangement the Wal Finance Corporation will make loans to the cattle meE of this county, on recommendation of the Live stock Board for this district, of which the two above mentioned banks are now members. The Albuquerque board will send an inspector into thsi district next week for the pur- pose of making appraisals on the value of the holdings of cattlemen | who are desirous of securing loans through the War Finance Corpora tion which is again functioning. The time for securing Ions will expire July 1. 1922. This is the pres ent limit fixed in the law but a strong movement is now on foot to have this limit extended to Septem Der l. MT Johnson, of the firm oi Cook .& Johnson, of 'WillcoX, left i this week for Washington, D. C., to i gether with other livestock growers and brokers throughout the country 1 to urge the proposed extension. l J. w. Hopson, vice president oi l the First National Bank, and J. 2 1 Jones, cashier of The Bank of Dun | can are in Albuquerque this week i'll | consultation with the Livestock 1 Board there for loans in this county 1 MT. E. H. Green, Vice President, ci ! the First National estimates that as
 a result of the arrangement now l perfected, that approximately $273, l 900 will be made available immedl 1 ately for loans to cattlemen in this 1 county. The rate of interest is 7lE 1 @ per annum and the obligation mus
 not be extended for more than three { years from date. Loans are made I not to exceed 759o of the value o
 the herd.
 | The purpose of Congress in pas
 sing the act by which credit is be
 ing extended to agriculturalists ant
 live stock men through the Wal ! Finance Corporation, was to afford much needed financial assistance tt these producers during the period O
 re-adjustment Owing to the speet with which this aid had to be ex tended, the banks of the country :, were selected as the most suitable
 existing agencies through which tn
 Corporation might act. Accordingly applications for loans must be mad' through a bank. banker, Live stocl : loan Company. trus company O ,i associations of growers that holt
 produce. or livestock for marketing The procedure in making an az ! plication for a loan has been mad
 conveniently simple. If bank
 banker or trust company has mad
 or contemplates making loans fo
 agricultura! or live stock purposes that is for any purpose connecte' with the growing, harvesting. pre-
 paration for market, and marketln it may receive from the War Fiji
 ance Corporation an advance c
 money upon the putting up of sucl
 paper. CT any other paper that the
 wish to submit which shall prove aC
 ceptable. Associations of grower
 holding produce in their possessio
 for marketing may receive advance
 from the corporation upon basi
 similar to that applied to banks.
 Some bids from cattle buyers hay been received in Clifton this weel
 offering $2O.00. s25.00. and $35.00, fo
 one, two and three year old steer
 and S30.0O for dry cows. Weight bit prices have been 5c per ID. for one
 two and three year old steers an' ) 41ac. per ID. for heifers and dr , cows.