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Show $400,000 STATE FUNDS AVAILABLE Loans totaling J 2,102,205.08, distributed dis-tributed among 66 5 applicants, have been made by the State land office during the past two and one-half years, according to a report submitted submit-ted to Governor Charles A. Mabey, jy John T. Oldroyd, state land commissioner com-missioner The average amount of each loan is $33-0.00, and the commissioner com-missioner further cites that these have been distributed over every county of the state, in many instances instanc-es the result being the saving of the applicant's home and property during dur-ing the recent period of financial depression. de-pression. The report shows that no money was available for loans when the present commissioner entered upon his duties. At that time tha farmers were badly in need of financial help, and to meet the emergency the commissioner com-missioner eold and converted Into cash bonds in the amount of $424 -000.00, which was Immediately distributed dis-tributed over the .stats in small loans at 6 per cent. Through a reduction in size of many large loans made under the former board, there is no wan additional addi-tional $400,000.00 available to the farmers. This will be loaned out as soon as applicants prove eligibility and sufficient security The report also states that through an improved system adopted by the present state authorities it is now possible to complete a loan within a few weeks after the applicant furnished furn-ished clear title to his security, whereas under the methods employed employ-ed by the former board the time required re-quired to complete a loan was usually us-ually six months to a year. Mr. Oldroyd summarize shis report re-port as follows: Applications for new loans 665, amounting: to$2,436.796.00 Application for renewal loans, 827 amounting to " $1,277,157.55 Grand Total for renewal. 992, amounting to..$3.713.!52.55 Loans approved 665 ..$2,102205.00 Loans denied, 143, ....$ 551.523.55 Farm Loans $1,530,360 00 Funds available. $ 400,000.00 A |