OCR Text |
Show Mexico Finances Many ' Gulf Cotton Growers MEXrCAU, Louer California, July to. A total of IM farmers with from ten to 100 acres In cotton cot-ton are being financed by tha state government at ths instance of Jose I. Lugo, mllKsry governor of the northern district of Lower California, Califor-nia, it haa been announced here. A total of 11,000 acres of land under Irrigation were placed at their disposal dis-posal by Governor Lugo. More than SO0.0O0 will bo advanced ad-vanced to the farmers by the state before they receive return from their crops are able to pay back to ths stats. Farmers get the money at 4 four cent, aa against a minimum of 10 per cent paid to banks in previous seasons, ths governor pointed out. In addition to tha 1 per cent paid banks be aald, me farmers were usually tied up with ginning and aales contracts, from which the farmers far-mers were relieved wnaer the state plan. Therefore, the governor aald, the farmera are now abl to get the current market prices when the crop Is picked. Last season's advance contracts were at from It to it cents, while tt cents was realised when the cotton came on the market. mar-ket. The elate advances this year are made In four Installments: ; First at plowing; second for planting; plant-ing; third for picking, and the fourth for ginning. ' |