OCR Text |
Show 1952 Seed Crop Supported By Loan Agreements The price of 1952 crop alfalfa and clover seed is being supported sup-ported to producers through loans and purchase agreements. The basic support prices per pound are: common alfalfa seed, 28 cents; certified alfalfa seed, 40 cents; common sweetclover, 9 cents; and certified sweet-clover sweet-clover 12 cents. These prices are for cleaned seed packed in new bags and meeting the basic specifications for purity and germination. For common alfalfa seed, the basic specifications are purity 98 per cent and germination germin-ation 90 per cent. Seed testing less than the basic specifications but not less than 97 per cent purity and 84 per cent germin-aiion germin-aiion will qualify but will be discountfed according to test. Red tag certified seed will also be discounted. Loans will be made at the support price on seed stored in. approved farm storage or in a warehouse that has a storage agreement with Commodity Credit Cre-dit Corporation. Storage charges to April 30, 1953, must be paid by the farmer on seed stored in warehouse. A farmer must also pay for the purity analysis and germination test. There is a loan service charge of 2 cents per 100 pounds of seed under loan, of $3.00, whichever is larger, for farm-stored loans; and 1 cent per 100 pounds or $1.50, whichever which-ever is larger, for warehouse stored loans. Loans bear interest at 3V2 per cent per annum and mature April 30, 1953. Seed under loan may be redeemed re-deemed and sold anytime up to maturity by repaving the amount loaned, plus interest, to the date repaid; or the loan may be fully satisfied by delivering to CCC at maturity the seed under loan. Price support can also be obtained ob-tained through a purchase agreement agree-ment whereby CCC agrees to purchase -after April 30, 1953. up to the quantity specified at the support price. The charge for a purchase agreement is 1 cent per 100 pounds specified, of $1.50, whichever is larger. Applications for loans or purchase pur-chase agreements may be made at the County PMA office up to January 31, 1953. |