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Show j ItlXil I. ATIONS TO HErVltK LOANS KOI I POl LTKYM EN I llerkeley, California. October S i An Important interpretation of: the regulations under which poul- 'try raisers and orchadists may qualify to secure loans from the j i Kami Credit Administration's! j various agencies has been author-j lzed by the Administration Conn- Icil in Washington and was an- Inonnced here today by President Willard D. Ellis of the Federal Land Hank, eleventh district. Un- ;dcr the modified conception of the Kederal Kami Loan Act the specialized nature of thisse two agricultural industries Is recognized recog-nized and provisions for granting loans to pou 1 try men and fruit growers have been adjusted accordingly. ac-cordingly. Recognizing that a poultry fiuin is more a manufacturing plant than an agricultural unit, the Adminsilratlon Council has determined that the value of the buildings thereon is a more dominant dom-inant factor than land values and appraisal may be adjusted accordingly. ac-cordingly. The minimum acreage upon which a loan may be based will depend upon whether or not the poultry farm is In a recognized recog-nized district for that industry, the ability of the average poul-tryman poul-tryman to succeed on small tracts in the neighborhood, accessibility to markets and earning capacity of the plant as demonstrated over a period of years. Under iho new interpretation, no loan for longer than ten years may be granted. Orchards, instead of being appraised ap-praised on "basic values" as heretofore, here-tofore, will bo considered for loans based on production value of their specialized purpose, with due consideration given location, sale value, and tho expected lifo of the trees and vines. Farm Credit Administration appraisers will be required, nevertheless, to take Into account such attendant factors as pests, unseasonable frosts and droughts, resistance of rootstocks and demonstrated yield over a period of years. Iloth poultry and orchard loans will bo made only in thoroughly proved districts where .satisfactory .satisfac-tory marketing facilities exist and not on promotion projects. Poultry raisers will be encouraged encourag-ed to avail themselves of commissioner's com-missioner's loans, which can be made as high ns seventy-five per ! cent on value of the farm pro- j perty unentailed. |
