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Show 30 PER CT. ACREAGE CUT REQUIRED FOR ALL CROP LOANS Secretary of Agriculture Announces An-nounces How Funds for Farm Operations May Be Obtained Reduction of 30 per cent in the acreage planted to cash crops will be required this year of farmers who procure crop production loans, Secretary Secre-tary of Agriculture Arthur M. Hyde announced today in making public the regulations governing the 1933 loans. In making available for crop production pro-duction loans this year $90,000,000 of Reconstruction Finance Corporation funds, ((Congress specified that the Secretary of Agriculture might require, re-quire, as a condition of any loan, "that the borrower agree to reduce his acreage or production program on such basis, not to exceed 30 per centum, as may be determined by the Secretary." The Secretary's regulations, regula-tions, however, stipulate that acreage reduction will not be required of farmers who, in 1933, plant no more than 8 acres of cotton; 2',t acres of tobacco; 40 acres of wheat; 20 acres of corn; 2Vi acres of truck crops; S acres of potatoes; 30 acres of rice; 8 acres of peanuts. Farmers seeking crop production loans this year are advised to obtain application blanks and copies of the regulations in their home counties, rather than from Washington. Field agents of the Crop Production Loan Office are now designating representatives represen-tatives in each farming county to inform in-form prospective borrowers of the requirements re-quirements governing loans and to distribute application blanks and other necessary forms. These agents will assist farmers in filling out applications, ap-plications, without charge. Accompanying the required 30 per cent reduction in acreage planted to cash crops, above the established minimum, the 1933 regulations limit the amount available to any farmer to $300. In 1932, crop production loans were made to 507,632 farmers, averaging $126 each. No loan in excess ex-cess of $100 will be made to any applicant ap-plicant who is in arrears on as many as two previous loans made by the Secretary of Agriculture. As last year ,interest is fixed at Wi per cent, to be deducted when the advance is made. All notes are due on or before October 31, 1933. Advances to borrowers bor-rowers may be made in installments, the regulations Estate, 'inasmuch as expenditures for crop production are usually made over a considerable period. per-iod. o Mrs. Geo. W. Ranson and family were down from Salt Lake City to spend the week-end here with Mr. Ranson. Effective March 1, friends of G. E. Stonehocker wall find that popular young man dispensng Shell products and Shell service at the Why-Not Service station having" leased this "busy corner" establishment from L. A. Wynaught, who will confine himself him-self to the wholesale distribution of Shell products. Mr. Stonehocker is too well and favorably known to need an introduction from us, but we feel that he is assured of a ready response to his bid for a share of the business of local motorists, as per his ad in this week's issue of The News. |