Show provisions GIVEN OF MINE BILL the bill introduced by congressman J G of nevada during the latter part of january which would make tor for small loans by the R reconstruction e co 1 st ruction finance corporation po ration to facilitate the development and production of metals and miners has been referred to the house committee on banking and currency the bill provides provide 3 that the shall have the power to make class C mining loans to mine owners or operators in sums not to exceed to any one borrower subject to the provisions of the the act the purpose tor for which class C loans may be made include development of raw prospects of merit un watering old workings to permit operations re timbering repairing and improving and construction of mine roads purchase of necessary equipment for proper development and to minimize the of loans from worthy applicants the loans may be made only to citizens of the united states interest Is at the rate of 4 per per annum payable semiannually semi annually the th taking as security on the loan a first lien on all ore metal in the property payable in royalties of 15 per of the net returns |