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Show FSA Head Reports Loan Collections In 1939 To Be Higher Collections of principal and interest in-terest on Farm Security administration adminis-tration loans to farmers in California, Cali-fornia, Arizona, Utah and Nevada were nearly 29 per cent larger for the last six months of 1939 than in the corresponding 1938 period. In making this announcement, Laurence I. Hewes Jr., FSA regional director, said that pay ments to his agency last November No-vember alone exceeded the total for any other single month in its history. Total collections for the last half of 1939 for the four states of Region IX amounted to $1,151,572, and came from farmers taking part in the Farm Security administration rural rehabilitation and community service program. Accordingly records for the Washington Wash-ington county office show a repayment re-payment for the same period of $53,988.00 as compared with $39,-676.00 $39,-676.00 for the corresponding period of 1938. Approximately 24,000 small farmers, unable to obtain credit from any other source, have been aided by these two types of loan, Hewes said, and by the guidance in farm and home planning offered them by FSA field officers. Rural rehabilitation funds are (Continued on page eight) FSA Loan Collections (Continued from first page) advanced to low-income farm owners or tenants who need tools, feed, seed, and similar operating equipment. Community and cooperative service ser-vice loans are made to eligible groups of farmers jointly. They enable neighborhood groups to cooperate co-operate in the purchase and use of heavier types of farm machinery, ma-chinery, purebred livestock sires, and other essential services. The Farm Security official also reported 90 per cent payment of debt installments by the formerly landless farmers who have become be-come owners of farms in Region IX states through loans made under the Bankhead-Jones Act tenant purchase program. The 1939 repayment record is considered exceptionally good in the light of drouth and low farm price conditions which have worked work-ed hardships on farms in many areas throughout the nation during dur-ing the past crop year. Careful planning and management by FSA borrowers are named by Mr. Hewes as reasons for their ability to save money for debt obligations obliga-tions and still make a livelihood. |