| Show barket mo more f farm products in 1923 operative cooperative associations making good aae k of credit 1 by t the to united states Depart department mOut ol 01 of agriculture I 1 associations will mar cooperative co lt considerably more farm products lhnn they did ing dinst j year it la Is seated ieca ted in reports to uio tile department it Is impossible i dAgri agriculture Atri culture while I 1 S estimate liow flow much business busl nesa they fact that now associations the iral do heln formed and old ones en being SJ 0 is ground for tho the be belief lief that arged to be crops amount of the years 00 will exceed co operatively marketed figures A big factor in in former marketing Is operative cooperative co promoting lie improvement made lu it credit facil ries first recently bt toward stoward better credit ac for operatives cooperatives co were when congress enlarged lake alien in 1021 of the war finance cor horation po ae Mra he ratiOn tion powers authorized up to date advances that to cooperatives von ion has amounting to more than ope although only has been actually used of the money tie te fact ti that t it it was available has been beneficial influence say a powerful officials of tile the department opening lines linea of credit cany operative cooperative co associations ore are opening up lines of credit at tho new intermediate termed lato credit banks because the ewar war finance corporation will censo cease nicking advances on february 29 next it la Is believed tile the new institutions will unction function much as the war finance corporation has done in ID giving confluence bence and loosening up additional out tide credit they have already authorized zed advances of about to farmers fan ners operative cooperative co associations handling cotton wheat wool tobacco and canned fruits it Is pointed out that the real service of the intermediate credit banks like that of the war finance corporation cannot be measured merely by the volume of their discounts or advances their chief value Is seen in thelast the fact that the credit made aval available lable by them often induces or encourages private financial institutions to offer credit accommodation when otherwise they might stand aloof the intermediate credit banks seem likely nevertheless to operate soon on a bigger scale than was expected fach each of the twelve institutions was provided with a capital of from tho treasury immediately it was organized five of them have since called for additional additions 4 capital to a total amount of so that the present paid in capital of the twelve banks is s moreover an issue of debentures to the amount of hai been set sold in anticipation tion of a large demand for discounts and advances in the coming marketing season beason discounts of agricultural p paper a for banks have been made madd to the amount of by the Inter intermediate credit institutions limiting loans for the present the federal fa farm rm loan im board which supervises the ewla banks is limiting loans and discounts to terms of nine months borrowers however rt havo bave the practical ahsu assurance rance that at the terms will be renewed when necessary reliance on renewals from tte 60 intermediate credit banks accord 1 f ta to officials of the department of agriculture has a stronger aneer Justi fica on 04 lhnn la Is the case where here loans ot of banks are concerned bee I 1 nue the 10 latter latt are always under the S of protecting S their deposit A although financing of 0 operative cooperative co S qa probably will call for fa con curably more money tills year than a ter before h el managers aers of such asio abeso I 1 lations 2 are T confident at all a necessary ac or Amo dation will be amiable they art P that bankers all over the coun 4 yare are readily taking inking operative cooperative co pa per oue gue operative cooperative co organization lender in arizona says ninny ass ocla eions in that aunte have not needed to borrow from the war finance corporation po ration or tile the intermediate credit banks because ample funds have been available to them from private bankers on very favorable terms |
