Show NEW EMERGENCY FARM LOAN ACT OF 1933 READY FOR OPERATION our attention has been called to the tact fact that the emergency farm arm loan act Is ready tor for operation and that money Is now available for or loans under this thia act under the new let act loans to farmers up to in amount to any one farmer may be made based upon 75 percent of 0 the appraised valuation of 0 the farm the act is intended as a relief measure and provides that it may extend over a maximum of 40 years and that no payment of 0 principal will be required for the first 3 years the interest rate will be 5 percent per annum the second plan is that a farmer can borrow up to on a basis of 50 percent of the appraised value of his laud land this loan Is made through the federal land bank at berkeley Der keley no cash Is paid under this loan but the farmers receive bonds of the federal land bank of berkeley the interest being bc in under written by the ilia government the facilities for handling applications will be much the same as through tile the former federal farm loan association air J J bennett of meadow will have charge of loans in this locality it would seem that this new ent emergency farm loan would give the necessary relief to farm arm owners who are having difficulty with their loans under ilia he present financial conditions we have had several movements in fit this locality lately headed by persons who claim they are champions of the farmer and his financial slid and tax troubles these organizations would be rendering a real service to their followers it if they would familiarize themselves with the new 1 possibilities and help the farmr who are in distress get their loan loae applications made out for those farmers who have loans held by the local closed bank mr air monson in charge of the bank will give ready assistance and all information he has on the subject it if these loans can be received it will greatly assist the bank in liquidation and give relief to the farmer who at present may be unable to lu save its his farm if foreclosed upon |