OCR Text |
Show Farm Debts Drop, Payments Increase In Vestern States Tiie amount of debt secured by liens on farm real estate in the UnKcd States Ls estimated at $!, lc.OOO.OOO the smallest amount outstanding at any time since PJ19. Tills figure is about C4 xt cent of the ieak amount of $10,7;.000,000 outstanding on January Jan-uary 1, 1923, The total debt for Utah is $-15,035,000, a decrease of .6 percent from . the 1939 total. The total farm-mortgage debt for the mountain states now stands at 437,624, a 1.9 percent decrease from the 1939 figure. Although foreclosures and other forced sales have continued as a debt reducing factor, the voluma of such transfers declined further during 1939. The Federal Land Banks and Land Bank Commissioner Commis-sioner were the only lender group showing an increase in foreclosures foreclo-sures but the volume of new loans closed by these institutions was more than sufficient to offset the reduction resulting from this situation. sit-uation. Among the factors contributing to the further decline in debt, principal repayment continues to be of Increasing importance. In the case of the Federal Land Banks and Land Bank Commissioner, Commis-sioner, which accounted for a large part of the reduction hi total debt, repayments were particularly par-ticularly large as compared with earlier years. |