| Show NEW FORM OF LOAN READY FOR FARMERS restricted arena areas and escalo 10 low ills have been the ninnor itkins ot 0 discus discussion simi for the past boek at U tile tho drifke of the land bank con conini imig ln elonor in ili Der koley calif lor fol about 17 years the fa banners of cv cr fornia ii Tila arizona nevada nud and lull ingvi been accustomed to ani aidem tind nirl regulations 00 ft l dibal lund land batik bank serving th iu olo hi erict avith ole ilie passage of 0 the Agri cill taral net act be oc une culle effe effective etIve ampy 12 1933 a now saljr annii into the economic lives of ni viviers fi viers A new tonn form of 0 loan I 1 iv k unit mim K nf lable to farni fra ln ili need jf if tit OffIce 4 i of ILP aln ilind bank commissioner from tho the fact unit that tile agent of the land batik bank commissioner Is located in III tile the offices of tile federal land batik bank ninny many persons leavo love er assumed that tile tho land bank loans and commissioner loans ato aio ono one same loans loana made by the land batik bank commissioner ore are originated on oil a special application form must be made subject to tile the ules rules and lat lattina toris ot of tho the commissioner and are not subject to approval by the I 1 federal land batik bank before benoie being C closed since tile the commissioners loans are of a separate class it logically follows that they need not be subject to certain restrictions placed against loatis loans of other kotlier classes to corr correct ct the impression that land bank commissioner loans may be mailo made without regard to restrictions concerning defaulted irrigation and reclamation districts ond and coffier reasons tile the following statement ment was issued by william 11 IL woolf agent land bank commissioner for tile the eleventh district tills this office la is obligated to ox ex tend relief to farmers in financial distress wherever tills this earl can be done with a reasonable assurance that the farmer will be able to repay hla his loan within the terms of ills his obligation to pay it appears that there aro are cagos where a blanket restriction of a special area would work hardships on certain individuals it will bo be the policy of this office to investigate and consider the individual status of applicants mid to make loans to those who can comply with the rules and regulations regil il ions of the commissioner however wo wa to do know that there are sonio unfortunate situations in bir 1101 district where loans cannot be made in ili safety under present unfavorable conditions in ili such cases it Is the misfortune ot of the individual to be so situated inquiries are reaching tills office asking what amount of scale down or nei reduction luctIon in obligations will be required to quality qualify an applicant for A loan we avo are not able to supply tills this information in advance of appraisal in any event it Is for fol the former farmer and hla his creditors to work out the scale down where this la Is needed to enable tile applicant to place tits his affairs on a basis baals tunit will support a loan under the prescribed rules rulea which require that the tha applicant have a 25 percent equity in order to qualify |
