| Show Drought loans Now w Loans to farmers and stockmen for Cor the purchase of feed or seed for forage crops crop are arc now available In counties which have been Leen designated ed as emergency areas These loans will mill bo IJO made from funds appropriated appropriated ap ap- ap under Ian Act of Congress Congress Congress Con Con- gress approved June 19 1934 1931 Loans will bo he administered by bj the tite Emergency Crop Loan Section o of the tho Farm Credit Administration and willbe will willbe willbe be made to applicants who because of or drought do not have me tree necessary necessary sary sarr feed Co to maintain their livestock and must buy feed or produce a forage forage forage for for- age crop and who have not fU funds 1 s sor or available credit to obtain such food feed or undertake tho the production of ofa a forage crop The amount to purchase feed eed for livestock will be he limited to d a mum for each head and acid the loans for production of forage crops willbe will willbe willbe be limited to a maximum amount per acre such suh loan limits being befog determined determined deter deter- mined according to the cost of feea or the cash cost of growing growIng- forage crops in the various drought areas area The Tho minimum amount of or a loan or advance ance is 25 35 for either purpose Loans will not be bo made to purchase feed for fOl livestock acquired sin since e April 1 1934 Security for the drought relief loans will consist of the borrowers borrower's promissory note accompanied by a non disturbance agreement signed by each chattel mortgage lian Han holder excerpt where the lien holder is a production credit association regional region region- al agricultural credit corporation Federal land bank The rhe Secretary of or Agriculture or the Governor of ot the Farm Credit Administration f on In announcing these usually liberal liber libel al security arrangements which witch donot do donot donot not require borrowers from front the drought relief fund t to give chattel mortgages of waivers ers G Governor Myres l stated slated that all loans will be 1 n HI flu tU hUI in HI 1111 11 mummy ui In amounts sufficient to feed th the life approved approved ap ap- proved number of livestock for one month Further advances will not be made to any borrower who fails fails' to observe good faith by bj e encumbering encumbering encumber encumber- ing his livestock feed or crops orby or orb orby b by waiving his rights to them after he l has s obtained a drought r relief lief loan or advance The promissory notes g given gen en by borrowers as security for drought relief loans will mature November 1 I 1935 with interest at the rate of 5 irk per p-er cent per annum Interest on the loan until maturity will not be deducted at oat the tho time lime the loan is made Loans will not be made nade to applicants applicants applicants ap ap- whose principal business is the commercial feeding and fattening fattening fatten fatten- ing of livestock for market nor 1101 to any applicant which is a co corporation ora tio 11 unless its il principal business is farm farm- ing Loans moy not be made for purchase of feed for livestock or 01 for producing forage crops outside the designated emergency emergency drought areas nor for feed for livestock that have been moved into a drought area aren since April 1 1934 Forms for use in making applications applications applications are now available ble at FER FERA A. A In Moroni Utah |
